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Top Mutual of Omaha Life Insurance Reviews 2017 [Best Policies]

United of Omaha reviews

Review of Mutual of Omaha Life Insurance Company

The following United of Omaha Life Insurance Company and Mutual of Omaha Insurance Company reviews, will cover the pros, cons, and offer a recommendation. The key take away is that TermLife2Go is an agency that works with dozens of top rated life insurance carriers, including the top no exam life insurance companies like Mutual of Omaha.

The best companies focus on niches and it is our job to align our clients with the niche that best suits that client’s need. Is United of Omaha the best company for you? Keep reading this review or give us a call today to find out.

Before we dive in you may want to take a moment to watch our video on the importance of comparing companies when looking for the best life insurance quotes. It “pays” to shop around.

About Mutual of Omaha

If you are looking for United of Omaha Life Insurance Reviews, you are in the right place! Mutual of Omaha Life Insurance is a top rated company and currently in an honorable mention in our top ten best life insurance companies list as well as making our top final expense or burial insurance company list.

You might recognize the name for those of you who grew up watching Mutual of Omaha’s Wild Kingdom. This is a great Company that has some great life insurance products. However, the company began as Mutual Benefit Health & Accident Association in 1909. The company grew fast and by 1920, Mutual Benefit was available in 15 states, growing to all 48 states and 2 territories by 1939.In 1950, the company shortened its name to Mutual of Omaha.

Life insurance policies are issued by United of Omaha Life Insurance Company, a Mutual of Omaha affiliate since 1926. United of Omaha began as United Benefit Life Insurance Company, changing its name to United of Omaha in 1981.

Mutual of Omaha and United of Omaha Life Insurance Company Financial Ratings

Any good United of Omaha Life Insurance review will need to address the company’s strong ratings. As of January 27, 2016, A.M. Company Best, the flagship rating agency, gives United of Omaha an A+ “Superior” rating.

Standard and Poor’s offers the same top notch rating giving United of Omaha an AA-, “Very Strong” rating.

And Moody’s Investor Service also has strong marks for MOO with an A1, Good rating.

MOO ratings summary:
  • A.M. Best rating: A+, Superior
  • S&P’s rating: AA-, Very Strong
  • Moody’s rating: A1, Good
  • Comdex ranking: 93 (out of 100)

Both United of Omaha Life Insurance Company and Mutual of Omaha Insurance Company have top financial ratings. With a Comdex ranking of 93, Mutual of Omaha is one of the highest rated life insurance companies in the U.S.

Mutual of Omaha Life Insurance Policies

Mutual of Omaha reviewsIn the following section of this United of Omaha Life Insurance Review we will cover the different policies offered by Mutual of Omaha. The company offers several fully underwritten and simplified issue products, so we have segmented the next section by the different underwriting requirements.

 

Fully Underwritten Policies offered by Mutual of Omaha

When considering from among the different types of life insurance policies it is important that you understand you own needs and what product will best meet your specific needs and objectives.

Many times people will automatically default to term life vs permanent life because of the lower price tag. However, you do yourself and your family a disservice if you make price your #1 priority. With that in mind, MOO offers several term and permanent policies, starting with Term Life Answers.

Term Life Answers

Term Life Answers is level term life insurance coverage for 10, 15, 20, and 30 years.

Available Term Riders
  • Convertible life insurance to age 75 to any of the Company’s Universal Life products.
  • Annual Renewable Term to age 95.
  • Accelerated death benefit for terminal illness rider providing accelerated death benefit if the insured provides evidence that their life expectancy is 12 months or less. The requested benefit amount may not exceed the lesser of $1,000,000 or 80 percent of the current death benefit.
  • Waiver of Premium for Unemployment rider which waives premiums for the base plan and all riders if the insured becomes unemployed.
  • Accidental death benefit rider.
  • Dependent children’s rider available to be converted later on.
  • Other insured rider (requires full underwriting).
  • Disability Waiver of premium rider if you become disabled for six months or more.

Permanent Life Insurance

In addition to term life, Mutual of Omaha also offers permanent life insurance. Among its permanent offerings are three different guaranteed universal life insurance policies.

Guaranteed Universal Life: Universal Life Insurance with a fixed premium. Guaranteed 2% interest rate.

Guaranteed Universal Life Plus: Ages 18-80 for all risks. 2% guaranteed interest rate. 50% interest rate bonus starting the 10th policy year.

Guaranteed Universal Life Survivor: Survivorship life insurance with a fixed premium insuring both spouses. Death benefit is paid upon the death of the surviving spouse.

Available GUL Riders

AccumUL Plus: Universal life insurance with similar riders to GUL with 3% guaranteed interest rate. Policy matures at age 120.

AccumUL Answers: 2% guaranteed interest rate. Policy matures at age 120.

Simplified Issue Policies

Simplified issue products do not require a medical exam, which means no invasive blood work. Typically all that is required on your end are answers to some health and lifestyle questions. The company may check the MIB, Rx database and MVR.

Term Life Express: 10, 15, 20 and 30 year terms. $25,000-$400,000 face amounts available. Return of Premium option available. Renewable to age 100.

Guaranteed Universal Life Express: Face amounts $50,000-$250,000. Ages 18-65. Guaranteed interest rate of 3%.

Living Promise Whole Life: Cash value whole life insurance available for ages 45-85 (80 for Graded Plan). Available face amounts $2,000-$40,000, where applicable. Graded and non Graded plans available in most states. Face amounts for Graded Benefit $2,000-$20,000.

Children’s Whole Life: Available to parents or grand parents considering life insurance for children or young adults ages 14 days to 25 years. Face amounts available $5,000-$30,000.

Guaranteed Advantage Accidental Death: $50,000-$500,000 face amounts available. Return of Premium rider available.

United of Omaha Life Insurance Niches

As you may have read in other Mutual of Omaha Life Insurance Reviews, United of Omaha has some interesting niches that help set the Company apart from its competitors.

One of the best niches is the Company’s Fit Underwriting Credit Program which benefits clients who normally would be rated below standard. The Company offers 14 lifestyle and health credits. If a client possesses characteristics identified as three or more of the credits then the client will be eligible for a better rate class, up to two table ratings.

Mutual of Omaha Life Insurance Pricing

United of Omaha’s life insurance rates are priced competitively, often ranking in the top 5 spots for various term lengths for both genders ages 40-65.

United of Omaha Life Insurance Quotes

Sample United of Omaha term life and guaranteed universal life quotes are based on a 50 year old preferred plus male as of December 2015. Rates are subject to change and must be qualified for.

10 years15 years20 years30 yearsGUL
$44$71$85$139$395

Sample United of Omaha term life and guaranteed universal life quotes are based on a 50 year old male standard rate class as of December 2015. Rates are subject to change and must be qualified for.

10 years15 years20 years30 yearsGUL
$98$144$165$271$515

Mutual of Omaha Disability Insurance

Mutual of Omaha is one of the best disability insurance companies in the U.S. Often overlooked, disability insurance is one of the least used but most needed insurance coverage. According to the SSA, 1 in 4 young adults will experience a disability before age 65. And disability can ruin your life, as it takes a huge toll on your finances. Medical bills can add up, leading to bankruptcies. And if you do not have income protection in place, you may lose your home, your place of business, other insurance coverage, etc.

Mutual of Omaha offers a nice selection of individual disability income insurance. Among its different disability insurance offers are simplified disability income insurance, accident only disability insurance, short term disability insurance and long term disability insurance.

Simplified Disability Income Insurance

Priority Income Protection provides simplified disability income insurance, i.e. no medical exam required.

Priority Income Protection snapshot:
  • Available for ages 18-61
  • 70% up to $4,000 maximum monthly benefit amount
  • 12, 24, or 36 month benefit periods available
  • 30 day accident and 90 day sickness elimination period
  • Guaranteed renewable to age 65
  • All occupations accepted
Short-Term Disability Income Insurance

Short term disability insurance is essential if you don’t want to tap into your own emergency fund while you wait for the elimination period on your long term disability insurance policy to pass.

Short Term Disability Income Insurance snapshot:
  • Available for ages 18-61
  • Elimination period for accident/sickness 0/7, 7, 0/14, 14, 30, 60 or 90 days
  • 3, 6, 12, or 24 month benefit periods available
  • $5,000 maximum monthly base benefit amount
  • Guaranteed renewable to age 67; conditionally renewable to age 75
  • Most occupation classes accepted
Long-Term Disability Income Insurance

The best long term disability insurance provides income provides own-occupation disability definition for the duration of the benefit period. Mutual of Omaha’s long term disability income insurance allows you to add a rider to your policy that extends the own-occupation disability definition through the duration of your benefit period.

Long-Term Disability Income Insurance snapshot:
  • Available for ages 18-61
  • 60, 90, 180 or 365 day elimination periods available
  • 2, 5, or 10 years, or to age 67 benefit periods available
  • $12,000 maximum monthly base benefit amount
  • Guaranteed renewable to age 67; conditionally renewable to age 75
  • Most occupation classes accepted based on benefit period selected; longer benefit periods are more restrictive

If you are interested in Mutual of Omaha disability income insurance quotes or would like to compare it to the other top disability insurance companies we represent, please give us a call today to speak to a member of our team of professional independent disability insurance agents, who can help align you with the best disability insurance company and policy.

Mutual of Omaha Long Term Care Insurance

Long term care insurance (LTC) is a vital part of any asset protection plan. If you have a chronic or disabling condition that prevents you from carrying out 2 of 6 activities of daily living (ADLs), LTC insurance can provide the financial provision to help you and your family pay for your care. The alternative is depleting your hard earned money that you had earmarked for your children, a charity, or to simply maintain your quality of life.

The best long term care insurance companies will allow you to use your benefits for many different long-term care opportunities, including in home health care, nursing homes and assisted living facilities.  Long term care costs can average over $6,000 a month. Long term care planning with LTC insurance provides peace of mind that you can receive the best care possible, without dying a pauper.

Long-term care insurance provides that upon certification of a chronic illness or disability, you will be eligible for either a reimbursement benefit or cash benefit upon completion of your policy’s elimination period. Your cash benefit or reimbursement limit is paid to you as long as you remain eligible up until the maximum policy limit has been paid.

Mutual of Omaha’s Long Term Care Insurance snapshot:
  • Monthly benefit from $1,500 to $10,000
  • Choice between cash benefit or reimbursement benefit
  • Elimination periods of 90, 180 or 365 days
  • Waiver of premium while you are receiving benefits
  • Policy benefit limits 24, 36, 48 or 60 months
  • Alternate care option if better treatment becomes available in the future
  • Potential discounts if you and your spouse sign up for the same LTC coverage through Mutual of Omaha
  • Inflation protection rider increases benefits to keep up with the rising costs of LTC
  • Security benefit rider which allows you to use a portion of your reimbursement benefit for your partner’s care
  • Shared care rider provides you with benefits form your partner’s identical policy if you have exhausted your policy benefits and still need care
Mutual of Omaha Disadvantages

In the following section of this United of Omaha Life Insurance Reviews we will cover the cons to choosing United of Omaha as your life insurance provider.

United of Omaha Life Insurance is but One of Many

As is the case of every insurance carrier, it is unlikely that United of Omaha Life can serve the needs of every client. As a consumer, you want the best company with the best price—for you! That is where we come in. United of Omaha Life might be the best company for you. However, we might offer a different recommendation based on your specific need, health and lifestyle.

Recommendation

We at TermLife2Go have a recommendation for anyone considering a life insurance policy from United of Omaha Life. Give us a call and let us see if Mutual of Omaha Life Insurance is the best choice with the best price for your coverage needs. If they happen to be the best offer, we will let you know. However, with many life insurance companies to choose from, you might save thousands of dollars over the life of your insurance policy by going with another life insurance provider.

About TermLife2Go

We do not favor one life insurance company over another. Instead, we find out what you need and then we recommend the lowest priced, best life insurance company to meet your specific need. Therefore, if price matters to you, give us a chance to earn your business. We are here to serve you!

So, what are you waiting for?  Give us a call today to see what we can do for you!

Thank you for reading our article, United of Omaha Life Insurance Reviews. Please leave any questions or comments below.

16 comments… add one
  • I have been thinking of getting mutual ins.for a while now. I see the t.v Ad’s. And I have also read online. What I want to know is. I have 4gands. And what to leave them a little something. How would I do that ?

    • Wanda,

      We’ll have an agent reach out to you so that they can show you how we can set the policy up so that your grandchildren would be the beneficiaries.

      Thanks,

      TermLife2Go.

  • Patricia S

    Looking to get life insurance for my husband. At least a $250,000 plan. I need to know what plan to get and how much it would be per month.

    • Patricia,

      We’d be happy to help you with some quotes, we’re just going to need to learn a few things about your husband (age, height, weight, etc…) before we can provide you with an accurate monthly quote.

      Why don’t you just give us a call when you have a chance and we’ll see what we can do.

      Thanks,

      TermLife2Go.

  • Rodolfo B

    Im Age 39 no smoker health $250k,$500k with 3 child rider life insurance quote .

  • Shirley B

    Can you borrow from this policy?

    • Shirley,

      We would need to know more about “which” life insurance policy that you are referring to.

      Thanks,

      TermLife2Go.

  • I’ve read many reviews on your guaranteed issue for $25,000 with no health exam and no health questions, and the complaints have all been that claims were not paid even though the deaths occurred after the graded period of 2 years. My husband has health issues and I want to purchase this policy, but I’m very hesitant. This would be a very traumatic time alone without having to worry about a death benefit being paid. Please explain why so many policy owners are of the same opinion. How quickly will claims be paid approximately? Also, I understand the graded time for accidents is 14 days. Please confirm. And is there double indemnity for accidents?

    • Kathryn,

      You’ve brought up a lot of great concerns and questions in your comment here which is why we would advise you to just give us a call when you have a chance so that we can go over each in greater detail.
      That being said, we’d also like to provide you with just a little bit of advice.
      When it comes to buying life insurance, there are generally three key “helpful hints” that will go a long way to ensure that you don’t have any regrets later on down the line, and here they are:

      1. Choose to work with a well know insurance company, that has a great AM Best Rating (AM Best is a third party organization that rates insurance companies based on their financial strength).

      2. Be sure that you totally understand what “type” of life insurance you’re purchasing and ask a ton of questions. Questions such as:

      – How much coverage am I getting?
      – How much will my insurance cost, and is this price guaranteed for the life of the policy?
      – How long will my insurance coverage last?
      – Does my policy contain a Graded Death Benefit or any other clauses which could prevent my family from receiving the insurance benefit?

      3. Read your policy!

      – It’s amazing how few people actually take the time to actually read their life insurance policy once they have received it. So… if you want to avoid any unexpected surprises about your life insurance policy, reading it is always a good place to start!

      Thanks,

      TermLife2Go.

  • dannie C.

    That’s my daughters email and number if and questions 931-XXX-XXXX cell and home 931-XXX-XXXX want to get insurance so my daughter is taken care of and my grand babies thank u

  • Peggy Ferguson

    Your info sent to me almost seems too good to be true when compared to others. Was sent Graded Benefit Individual Whole Insurance info. Was told 25,000.00 Policy for 63 yr old would be 103.50 a month. Two year wait till full 25,000.00 would be paid. No health questions. Is this true. I was speaking to a neighbor and she said a member of her family had passed yrs ago and the same policy didn’t pay off. That she had died from hepititus which caused the non payment but hadn’t had it at time of taking out insurance.

    • Peggy,
      We weren’t able to locate you in our files, so it may be that you were sent information directly from Mutual of Omaha.
      So…
      Without knowing more about your particular case, it would be impossible to determine if the information that you were quoted is completely accurate or not.
      However…
      What we can tell you is that Mutual of Omaha is a great company, and that, if you’re looking to purchase a Guaranteed issue life insurance policy, there won’t be any medical questions asked. So we know that that part is true.
      Additionally, once the Graded death benefit has expired, the policy will pay out it full death benefit regardless of cause of death (another part that is true).

      So from what you’ve stated, there doesn’t seem like there is anything that sounds “suspicious”.

      That being said however, we would recommend that you give us a call so that we can compare Mutual of Omaha’s guaranteed issue policy with several others that we also offer so that you’re sure to get a great deal.
      If it turns out that Mutual of Omaha is the right choice, we’ll also be able to walk you through their application and get that set up for you right away.

      Thanks,

      TermLife2Go.

  • Family whole life coverage
    5 members

    • Elizabeth,

      In order to properly quote you and your family for life insurance, we’ll need to ask you a few questions. For this reason, just give us a call and we’ll be happy to give you the quotes you’re looking for.

      Thanks,

      TermLife2Go

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