Mutual of Omaha final expense insurance regularly has the lowest premiums, and there is no waiting period. Additionally, they offer up to $50,000 in coverage, which is far higher than that of many final expense insurance providers.
Many companies offer death insurance for seniors, but Living Promise is likely your best option if you qualify for the level death benefit. The primary drawback is that you must speak with a licensed agent, which many seniors would rather avoid.
- Typically, it costs less than most other providers.
- The majority of applicants can qualify for coverage with no waiting period.
- Includes an accelerated death benefit (living benefits) rider at no additional cost.
- To apply, you must contact a Mutual of Omaha agent. It cannot be bought online or through the mail.
- No automatic credit card payments are accepted.
- After the policy is issued, you cannot reduce the death benefit should you need to lower the premium.
How Does Mutual Of Omaha Living Promise Whole Life Insurance Work?
Most people buy Living Promise whole life insurance to ensure their funeral costs won’t burden their loved ones. However, it’s still life insurance, so the death benefit payout is a cash (tax-free) payment that can be spent on anything.
Level death benefit (no waiting period)
The level death benefit is the most affordable plan, and it has no waiting period. That means you’d be 100% insured for natural or accidental death the day you make your first payment.
To qualify for the level benefit, you must be able to answer no to these health questions and be within their weight chart guidelines.
You have the option to add an accidental death rider (which costs a few dollars more) that would cause Mutual of Omaha to pay out 200% of the death benefit if you die from an accident.
Graded death benefit
Mutual of Omaha will offer you the graded death benefit if you have any health conditions mentioned in questions 5-10 of the application.
The graded plan has a two-year waiting period and typically (not always) costs more than the level death benefit.
The only exception to the waiting period is for accidental death. If you have the graded plan and die from an accident in the first two years, United of Omaha will pay the full coverage amount.
How Much Does Mutual Of Omaha Living Promise Cost?
Living Promise insurance premiums are based on your age, health, state of residence, tobacco habits (if any), and how much coverage you buy.
Below is a Mutual of Omaha life insurance rate chart for their Living Promise policy.
How To Buy Living Promise Whole Life Insurance
Mutual of Omaha only sells Living Promise whole life insurance through agencies. You must speak with a licensed Mutual of Omaha agent. Mutual of Omaha does not allow Living Promise to be sold entirely online, through the mail, or by calling the company directly.
If you’re interested in obtaining quotes, asking questions, or purchasing Living Promise final expense insurance, please call 1-800-644-2926.
What It’s Like To Manage Your Policy (After You Buy)
One of the biggest benefits of having final expense insurance with Mutual of Omaha is that servicing and managing your policy is incredibly easy. It’s far easier than virtually all other providers.
For example, they have a convenient online portal where you can:
- Change your address
- Update your payment information
- Download your policy
- Make payments
You can also call Mutual of Omaha at 800-228-7104 for nearly any service request (they answer the phone quickly), such as changing your beneficiary, requesting documents, or updating your payment information.
How To File A Death Claim
With Mutual of Omaha, you can file and manage a claim online or by calling them at 888-493-6902. In most cases, they will only require a death certificate.
Frequently Asked Questions
Living Promise is not a guaranteed acceptance plan. There is no medical exam, but eligibility is based on your answers to the health questionnaire, height and weight ratio, and medication history.
If you buy Mutual of Omaha Living Promise coverage with a graded death benefit or their guaranteed acceptance coverage, there will be a two-year waiting period. Any nonaccidental death during the first two years will cause Mutual of Omaha to refund 110% of your premiums.
United of Omaha and Mutual of Omaha are the same company. Mutual of Omaha offers many types of coverage, including life, health, and disability insurance. All their life insurance products are filed with each department of insurance as United of Omaha. If you buy a Mutual of Omaha life insurance policy, it will instead say “United of Omaha.” Furthermore, your bank statement will show a deduction from United of Omaha. The only exception to this rule is buying a Mutual of Omaha life insurance product in New York. In New York, Mutual of Omaha life products are filed under the name Companion Life Insurance Company.
Our Insurance Review Methodology
Every company we review has an overall score that illustrates how well it stands out in the market relative to its competitors. These scores are not subjective. Instead, we utilize a defined 5-star scoring system that applies a weighted average of particular factors, all of which are outlined below and on our review methodology page.
Coverage
Strength
Complaint Index
We measure the price of a company’s most popular they promote relative to its competitors. The closeness of their cost to other companies determines the final score. Read a full breakdown of the price of coverage factor on our review methodology page.
Coverage
Coverage
Strength
Complaint Index
This factor assesses whether a company offers immediate coverage and, if so, how difficult it is to qualify for it. Read a full breakdown of the no waiting period coverage factor on our review methodology page.
Strength
Coverage
Strength
Complaint Index
A company’s financial strength is based on its rating with A.M. Best. Read a full breakdown of the financial strength factor on our review methodology page.
Complaint Index
Coverage
Strength
Complaint Index
The National Association of Insurance Commissioners’ complaint index measures an insurer’s frequency of consumer complaints compared to the rest of the market. The score the insurer receives is based on how it stacks up to the median score of other insurers. Read a full breakdown of the NAIC complaint index factor on our review methodology page.
Why trust Choice Mutual?
When we review products, our findings are unbiased and free of any influence from partnerships or methods of compensation. All findings, good or bad, are solely the derivative of our objective analysis of any given product or company.
As noted on our review methodology page, our researchers evaluate the financial stability of the insurer, policy costs, product limitations, state availability, customer satisfaction, waiting periods (if applicable), and other relevant factors. We aggregate all this cumulative data to develop objective overall scores based on pre-defined weighted factors.
In addition, a qualified expert who is well-qualified to speak on the matter will provide opinion-based feedback about the company or product being reviewed.
For over a decade, Choice Mutual has been an insurance agency specializing in final expense life insurance. Our expertise in this type of insurance is well-documented in numerous authoritative publications, some of which are listed below:
Choice Mutual’s mission is to provide consumers with unbiased expert commentary and explanations of the topics being discussed. We want our readers to be armed with information and tools that cannot be found anywhere else on the internet, so they can truly make an informed decision.
All content on this website is written by Anthony Martin, who is a licensed life insurance agent with over a decade of expertise in this industry and has been quoted as an expert source hundreds of times by many reputable news outlets.
Per our editorial guidelines, we have never, and will never, use artificial intelligence to create our content. Every word printed on this website is produced and curated 100% by human beings who have firsthand experience with the subject matter.
- Nationally licensed life insurance agent with over 16 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 16 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.
- Nationally licensed life insurance agent with over 20 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 20 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.
- Nationally licensed life insurance agent with over 15 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 15 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.
- Nationally licensed life insurance agent with over 20 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 20 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.
- Nationally licensed life insurance agent with over 15 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 15 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.
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same company. https://www.mutualofomaha.com/about/company-profile/affiliates
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Moody's. https://www.mutualofomaha.com/about/financial-strength/ratings
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S&P Global. https://www.mutualofomaha.com/about/financial-strength/ratings
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BBB. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/mutual-of-omaha-0714-104000434
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Trustpilot. https://www.trustpilot.com/review/mutualofomaha.com
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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
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Yelp. https://www.yelp.com/biz/mutual-of-omaha-omaha-6
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BBB Score & Accreditation. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/mutual-of-omaha-0714-104000434
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A.M. Best. https://news.ambest.com/pr/PressContent.aspx?refnum=35832&altsrc=2
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NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=69868&REALM=PROD&COCODE=69868&REALM=PROD
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online portal. https://www3.mutualofomaha.com/customer-access/login
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claim online. https://www.mutualofomaha.com/support/help-finder/An-Individual-Customer/Claims/Life-Insurance
