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4.75/5
Overall Score

Choice Mutual’s ratings are determined by a review formula that weights the following four factors to determine a score between 0 and 5:

Factor Score Value
Price of Coverage
40%
No-Waiting-Period CoverageNo Waiting Period
20%
Financial Strength
20%
NAIC Complaint Index
20%
Overall Maximum
100%

Our ratings are tested with scoring model 1.1, a review formula that ensures consistency and accuracy in our assessments.

Rating methodology
Score Breakdown
Price of Coverage
Price of Coverage
40% of overall score

Using this quote calculator, we compare the price of the insurer’s coverage to competitors with equivalent products. The score they receive is based on how close their price is to those three least expensive providers:

  • 5
    0-5% more expensive
  • 4
    6-10% more expensive
  • 3
    11-20% more expensive
  • 2
    21-30% more expensive
  • 1
    ≥ 40% more expensive
Price audit
5.0
No-Waiting-Period CoverageNo Waiting Period
No-Waiting-Period Coverage
20% of overall score

This scoring factor assesses whether an insurer offers coverage with no waiting period and, if so, how difficult it is to qualify for it. If an insurer does not provide coverage with no waiting period, it gets an automatic 1. A score from 2 to 5 indicates that immediate coverage is possible, and the higher the rating, the easier it is for the average applicant to qualify for it.

  • 5
    Most applicants qualify
  • 4
    Fairly easy qualification
  • 3
    Somewhat difficult qualification
  • 2
    Very difficult qualification
  • 1
    No-waiting-period coverage unavailableNo-waiting-period unavailable
4.0
Financial Strength
Financial Strength
20% of overall score

Our financial strength scores are based on A.M. Best’s Financial Strength Ratings (FSR), which measure an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores they receive are based on the following scale:

  • 5
    Superior (A+ or A++)
  • 4
    Excellent (A- to A)
  • 3
    Fair/Good (B- to B++)
  • 2
    Weak/Marginal (C- to C++)
  • 1
    Poor (D or Not Rated)
5.0
NAIC Complaint IndexNAIC Complaints
NAIC Complaint Index
20% of overall score

The NAIC (National Association of Insurance Commissioners) complaint index measures how frequently an insurer obtains consumer complaints relative to a median score across all insurers. Our scoring model is based on an insurer’s NAIC complaint index for the most recently available year and for ‘Individual Life’ products:

  • 5
    0.0 - 1.0 (avg or below avg complaints)
  • 4
    1.01 - 1.5 (slightly above avg complaints)
  • 3
    1.51 - 2.0 (up to 2x avg complaints)
  • 2
    2.01 - 3.0 (up to 3x avg complaints)
  • 1
    ≥ 3.01 (more than 3x avg complaints)
5.0
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Our Verdict

Mutual of Omaha offers some of the best life insurance options for seniors, including final expense whole life insurance, guaranteed acceptance life insurance, term life insurance, and universal life insurance.

In particular, their final expense insurance is generally the best in the nation since it has no waiting period and costs less than most other companies.

Regardless of which type of coverage you’re looking for, there is a high chance that Mutual of Omaha will be the best company for you.

Pros

  • Very low prices compared to other companies.
  • No waiting period coverage is available without undergoing a medical examination.
  • Helpful account policyholders manage the coverage online.

Cons

  • Options directly from the company are different (and inferior) to options available from licensed agents.
  • You cannot mail in monthly payments or auto-pay with a credit card.
  • There are no options to buy online unless you are willing to accept a policy with a two-year waiting period.

A.M. Best
A+
Superior
Moody's
A1
Stable
S&P Global
A+
Stable

AM Best’s Financial Strength Rating (FSR) is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores range from A++ to D-.

Moody’s Investors Service rates the creditworthiness of companies. The Moody’s Rating Scale has 21 possible scores ranging from “Aaa” (highest mark) down to “C” (lowest mark).

S&P Global Inc. issues credit ratings on a scale from “AAA” (highest rating) to “D” (lowest rating).

Customer Review Ratings
BBB
1.2/5
103 reviews
Trustpilot
1.5/5
83 reviews
Google
3.9/5
250 reviews
Yelp
1.6/5
67 reviews
Consumer Protection Organization Scores
NAIC Complaint Index
.43
BBB Score & Accreditation
A+
Accredited

The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.

The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB seeks and uses information directly from businesses and from public data sources. BBB assigns ratings from A+ (highest) to F (lowest). If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.

Ratings and scores valid as of 06/13/2025.
    Policy Type
    Whole Life
    New Applicant Age Range
    45-85
    Death Benefit Options
    $2,000-$50,000
    States Where Available
    All except New York
    Builds Cash Value
    Yes
    Has Health Questions
    Yes
    2-Year Waiting Period
    No
    Medical Exam Required
    No
    Age When Policy Expires
    Never
    Prices Increase
    Never
    Terminall Illness Rider
    Yes
    Policy Type
    Whole Life
    New Applicant Age Range
    45-80
    Death Benefit Options
    $2,000-$20,000
    States Where Available
    All except MT, NC & NY
    Builds Cash Value
    Yes
    Has Health Questions
    Yes
    2-Year Waiting Period
    Yes
    Medical Exam Required
    No
    Age When Policy Expires
    Never
    Prices Increase
    Never
    Terminall Illness Rider
    No
    Policy Type
    Whole Life
    New Applicant Age Range
    45-85 (50-75 in NY)
    Death Benefit Options
    $2,000-$25,000
    States Where Available
    All
    Builds Cash Value
    Yes
    Has Health Questions
    No
    2-Year Waiting Period
    Yes
    Medical Exam Required
    No
    Age When Policy Expires
    Never
    Prices Increase
    Never
    Terminall Illness Rider
    No
    Policy Type
    Whole Life Insurance
    New Applicant Age Range
    45-85
    2-Year Waiting Period
    No (subject to underwriting approval)
    Coverage Amount Range
    $2,000-$50,000
    States Available
    All States (except New York)
    Premiums Stay the Same Forever
    Yes
    Builds Cash Value
    Yes
    Policy Duration
    Lifetime
    Accelerated Death Benefit
    This free rider is automatically included. You can access the full death benefit while alive if diagnosed with a terminal illness or are confined to a nursing home.
    Optional Riders
    Accidental Death (2X the payout for accidental death)
    Where to Apply
    Agencies licensed to sell Mutual of Omaha products (you can't buy this plan directly from them)
    Phone Number to Apply
    800-433-0156
    Medical Exam Required
    No
    Guaranteed Acceptance
    No
    Application Approval Time
    10 Minutes to 2 Business Days

    How Much Does Mutual of Omaha Life Insurance For Seniors Cost?

    Mutual of Omaha’s final expense life insurance for seniors typically costs $25-$250 per month for $10,000-$25,000 in coverage. However, prices vary depending on your precise age, gender, state of residence, health history, and tobacco usage (if any).

    Below is a Mutual of Omaha rate chart with some sample final expense insurance prices.

    Age & Gender$10,000$15,000$20,000
    Female age 45$23$32$42
    Male age 45$27$39$51
    Female age 50$24$35$45
    Male age 50$31$44$58
    Female age 55$28$40$52
    Male age 55$36$52$69
    Female age 60$33$48$63
    Male age 60$43$64$84
    Female age 65$41$60$79
    Male age 65$54$83$110
    Female age 70$53$78$103
    Male age 70$70$110$146
    Female age 75$71$107$142
    Male age 75$97$148$197
    Female age 80$98$146$194
    Male age 80$135$208$276
    Female age 85$136$202$269
    Male age 85$178$288$382
    Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating for the Living Promise level death benefit, rounded to the nearest dollar, and are valid as of 06/17/2025.
    Age & Gender$10,000$15,000$20,000
    Female age 45$28$41$55
    Male age 45$36$54$72
    Female age 50$30$45$60
    Male age 50$40$60$79
    Female age 55$38$56$74
    Male age 55$45$68$90
    Female age 60$43$64$84
    Male age 60$57$85$113
    Female age 65$50$75$99
    Male age 65$69$102$136
    Female age 70$64$95$127
    Male age 70$87$130$172
    Female age 75$89$132$176
    Male age 75$113$169$226
    Female age 80$127$190$253
    Male age 80$157$235$313
    Female age 85$158$236$314
    Male age 85$193$289$384
    Source for monthly prices: Choice Mutual quote calculator. Rates are for guaranteed acceptance coverage, rounded to the nearest dollar, and are valid as of 06/17/2025.

     

    Mutual Of Omaha Final Expense Insurance For Seniors

    Mutual of Omaha final expense insurance is a whole life policy that does not require a medical exam. It’s available to seniors 45-85 for up to $50,000 in coverage. It’s a permanent insurance policy, so it lasts forever; the rate will never increase, and it will accumulate cash value.

    To qualify, you only need to answer some health questions. Most seniors with common pre-existing conditions (such as diabetes) will be eligible.

    Don't Forget
    Mutual of Omaha is generally one of the best life insurance companies for final expense coverage because, among many reasons, they are less expensive than other companies, and most applicants qualify for immediate coverage.

    When the insured dies, the company will pay out the death benefit as a cash payment (tax-free) directly to your loved ones.

    Your beneficiaries can use the money for any purpose, including end-of-life expenses, debts, or medical bills, and retain any remaining funds.

     

    Mutual Of Omaha Guaranteed Acceptance Insurance For Seniors

    Mutual of Omaha guaranteed whole life insurance has no health questions or exams.

    Like all guaranteed acceptance life insurance coverage, there is a two-year waiting period.

    Mutual of Omaha will only refund your premiums plus 10% interest if you die during the first 24 months.

    If you need guaranteed acceptance coverage, Mutual of Omaha is the cheapest option on the market. Only AAA and Physicians Mutual have comparable rates.

     

     

    Mutual Of Omaha Term Life Insurance For Seniors

    A term life insurance policy lasts a limited period of time. After the policy expires, you no longer have coverage. Term life insurance costs are unequivocally cheaper than permanent life insurance (whole or universal) because it expires, whereas permanent coverage does not.

    Mutual of Omaha term life insurance can last either 10, 15, 20, or 30-year terms. They have two different options to choose from: Term Life Express or Term Life Answers.

    Coverage DetailsTerm Life ExpressTerm Life Answers
    Term Lengths (Years)10, 15, 20, 30
    Level PremiumsYes
    Coverage Minimum$25,000$100,000
    Coverage MaximumAge 18-50: $300K
    Age 51-60: $250K
    Age 61-75: $150K    		65 Million
    Medical Exam RequiredNoYes
    Optional Riders (Costs Extra)Accidental Death Benefit, Dependent Children's Coverage, & Disability Waiver of PremiumAccelerated Death Benefit, & Waiver of Premium for Unemployment
    Included Riders (No Extra Cost)Accelerated Death Benefit for Terminal Illness, Residential Damage Waiver of Premium, Waiver of Premium for Unemployment, Common Carrier Death Benefit, & Disability IncomeAccelerated Death Benefit for Terminal Illness, & Waiver of Premium for Unemployment
    Can Convert To Permanent CoverageYes

     

    Mutual Of Omaha Universal Life Insurance For Seniors

    Universal life policies are permanent life insurance plans with payment flexibility and cash value growth. In addition to the death benefit, the cash value buildup is tax-deferred, which can augment your retirement or serve as a source of funds when unexpected bills arise.

    Mutual of Omaha offers four types of universal life insurance:

    • Income Advantage: An indexed universal life insurance policy focusing on cash value accumulation. Ages 0-85 can apply for benefit amounts from $25,000 to over $1 million.
    • Life Protection Advantage: An indexed universal life insurance policy that emphasizes lifetime coverage at an affordable rate. It still has payment flexibility but focuses on longevity rather than cash value growth. Ages 0-85 can apply with coverage amounts from $100,000 to over $1 million.
    • AccumUL Answers: A traditional universal life policy with the most flexibility and will last forever as long as sufficient premiums are paid. A free chronic illness rider is included. Ages 0-85 can apply with benefit amounts from $100,000 to over $1 million.
    • Indexed Universal Life Express: A no medical exam indexed UL policy that provides low-cost lifetime coverage for clients who don’t need large amounts of coverage and would rather skip the exam. Individuals aged 18-75 can apply, with coverage amounts ranging from $25,000 to $300,000 (the top end varies by age).

    It’s worth noting that universal life policies are complex and should not be purchased without consulting a seasoned insurance agent who is knowledgeable about how these life insurance options work.

     

    Working With A Licensed Mutual Of Omaha Agent Instead Of Buying Directly From The Company

    Mutual of Omaha life insurance policies for seniors are sold directly by the company and through licensed agencies. The options differ greatly depending on how you buy.

    In short, if you call Mutual of Omaha directly, guaranteed acceptance whole life insurance is the only product they can offer you.

    All their other products are sold exclusively through authorized Mutual of Omaha agencies such as Choice Mutual.

     

    Frequently Asked Questions

    Final expense whole life insurance is generally the best Mutual of Omaha policy for seniors. Most senior citizens only need life insurance to pay for funeral expenses. It’s guaranteed lifetime coverage with a quick cash payment directly to your beneficiaries or funeral home.

    A Mutual of Omaha life insurance death claim can pay out in as little as 48 hours, or it can take months. How long it takes depends on the type of policy and how long it was in force at the time of death.

    Mutual of Omaha guaranteed acceptance life insurance for seniors has a two-year waiting period. If you die during the waiting period, your beneficiaries will only receive a refund of your premiums plus 10% interest. All life insurance products with no health questions have a waiting period.

    All Mutual of Omaha life insurance policies for seniors have a death benefit. A cash death benefit payable to your beneficiaries is the primary purpose of a life insurance policy, regardless of the type.

    Anthony Martin
    Anthony Martin
    Choice Mutual CEO
    Author
    • Nationally licensed life insurance agent with over 15 years of experience
    • Personal annual production that puts him in the top .001% out of all life insurance agents in the nation.

    Anthony Martin is a nationally licensed insurance expert with over 15 years of experience and has personally served over 10,000 clients with their life insurance needs. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, Kiplinger, and Entreprenuer.com. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more.

    Jeff Root
    Jeff Root
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 19 years of experience
    • Best selling Amazon author.

    Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.

    David Duford
    David Duford
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 14 years of experience
    • Best selling Amazon author of five insurance sales books.

    David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.

    Jeff Root
    Jeff Root
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 19 years of experience
    • Best selling Amazon author.

    Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.

    David Duford
    David Duford
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 14 years of experience
    • Best selling Amazon author of five insurance sales books.

    David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.

    Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.

    1. Mutual of Omaha guaranteed whole life insurance. https://www.mutualofomaha.com/life-insurance/whole-life-insurance
    2. Mutual of Omaha term life insurance. https://www.mutualofomaha.com/life-insurance/term-life-insurance
    3. Universal life policies. https://www.investopedia.com/terms/u/universallife.asp
    4. Moody's. https://www.mutualofomaha.com/about/financial-strength/ratings
    5. S&P Global. https://www.mutualofomaha.com/about/financial-strength/ratings
    6. BBB. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/mutual-of-omaha-0714-104000434
    7. Trustpilot. https://www.trustpilot.com/review/mutualofomaha.com
    8. Google. https://www.google.com/maps/place/United+of+Omaha+Life+Insurance+Co./@41.2919772,-96.3930632,11z/data=!4m10!1m2!2m1!1sMutual+of+Omaha!3m6!1s0x87938faddb631741:0x1c63fb3068a9098d!8m2!3d41.2585725!4d-95.9622597!15sCg9NdXR1YWwgb2YgT21haGEiA4gBAZIBEGluc3VyYW5jZV9hZ2VuY3ngAQA!16s%2Fg%2F1hc7zdp8w?entry=ttu
    9. Yelp. https://www.yelp.com/biz/mutual-of-omaha-omaha-6
    10. NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=69868&REALM=PROD&COCODE=69868&REALM=PROD
    11. BBB Score & Accreditation. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/mutual-of-omaha-0714-104000434
    12. A.M. Best. https://news.ambest.com/pr/PressContent.aspx?refnum=35832&altsrc=2
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