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Mutual Of Omaha Burial Insurance Review 2019: Policy Details, Pros & Cons

Written by Choice Mutual | Last updated: February 25, 2019

Mutual of Omaha Burial Insurance

Looking for the inside scoop on Mutual of Omaha’s final expense insurance?

Well you came to the right place.

This Mutual of Omaha burial plan review leaves nothing to the imagination.

We go over their prices, underwriting, break down each plan they have, and offer basic tips to help you find the best policy.

Just scroll down or click on one of these links below.

Article Quick Navigation Links

  1. Quick Disclaimer
  2. How Their Plans Work
  3. “Living Promise” Policies (No 2 Yr Waiting)
  4. Guaranteed Acceptance Plan
  5. Quotes
  6. Should You Go With Mutual?
  7. Tips To Finding The Best Policy
  8. Company Background

 

So You Don’t Get Confused…

Mutual of Omaha is a big insurance company that offers many different types of insurance. They offer life insurance, medicare insurance, long term care insurance, dental insurance, accidental death insurance, and the list goes on.

All life insurance (including their final expense coverage) issued from Mutual of Omaha will go under the name United of Omaha.

Mutual Of Omaha Burial InsuranceUnited of Omaha and mutual of Omaha are the same company. They just issue all their life products under the name United of Omaha.

You’ll see us use both names interchangeably because they are the same entity.

 

How Does Mutual Of Omaha Burial Insurance Work?

United of Omaha burial insurance plans are merely whole life insurance policies that have very limited underwriting. There are never any medical exams, and senior citizens with health issues can absolutely still qualify.

Ultimately, these plans are meant to pay for burial and other funeral expenses. Policy amounts range from $2,000 up to $40,000.

Mutual Of Omaha Burial Insurance

Keep this in mind

The term “burial insurance” is simply a marketing phrase that has been used for decades. It’s common to also see the words “funeral insurance” or “final expense insurance” used along with “burial insurance”.

All three of these phrases mean the same thing. There is no difference. For example, “Final expense insurance from Mutual of Omaha” is no different than saying “burial insurance from Mutual of Omaha”

Just don’t get confused if you see us or another website use these three terms interchangeably.

 

Here Are The Details

Because it’s a whole life policy, it’s super easy to understand. So easy in fact three sentences is all you need.Mutual Of Omaha Burial Insurance

  • Fixed premiums that can never increase
  • Permanent policies that cannot expire
  • Coverage that cannot decrease in value

We told you they were simple.

Since it’s life insurance, your beneficiaries will get a tax-free cashier check for whatever amount of coverage you purchased. This gives them the necessary funds to pay for your end of life costs.

And there are no restrictions how the money is used. This is great because every single funeral home in the nation will take cash.

If there happens to be money left over, which oftentimes there is, that money will simply stay with your family.

 

Mutual’s Immediate Coverage Plan That Has No Waiting Period

United of Omaha’s final expense policy that offers full day one coverage is called “Living Promise” (that’s just the name they gave it).

Living Promise has two plans you could qualify for. There is a level death benefit and a graded death benefit.

Mutual Of Omaha Burial Insurance

If you are approved for the level benefit, it does not have any waiting period. You would be fully insured from the very first day.

If you are approved for the graded benefit, that one has a two year waiting period.

During the first two years of the graded plan, they would merely refund 110% of all premiums if the insured were to pass away for any non accidental reason.

On the graded plan, accidental death pays out 100% even during the waiting period.

 

Here’s a breakdown of the Level Plan.

  • Available in all states except NY
  • Issue ages are 45-85
  • Face amounts are $2,000-$40,000 ($5k minimum in WA)
  • Only sold through licensed brokers such as Choice Mutual (you cannot buy it directly from them)
  • Immediate coverage with no waiting period

 

Here’s a breakdown of the Graded Plan.

  • Available in all states except AR, MT, NC & NY
  • Issue ages are 45-80
  • Face amounts are $2,000-$20,000 ($5k minimum in WA)
  • Only sold through licensed brokers such as Choice Mutual (you cannot buy it directly from them)
  • 2 year waiting period for non accidental death

As stated earlier, both plans are whole life insurance so the premiums won’t increase, coverage won’t decrease, and it will never expire.

Here’s a Mutual Of Omaha Living Promise brochure.

 

How To Qualify

As we said, to get United of Omaha funeral insurance with no waiting period, it’s something you qualify for. You won’t need to take an exam or physical. Qualification is based on the following three factors:

  1. Answers to the health questions
  2. Prescription history analysis
  3. Information in your MIB file

By far, the health questionnaire is the largest factor that determines if you’re eligible for the level benefit no waiting period plan. All their questions require a simple yes or no answer (shown a little further down below).

In addition, they will check your prescriptions to see if you’ve been treated for any of the health conditions that are asked about on the application.

Finally, they will also analyze your MIB file for any relevant records. FYI, MIB stands for Medical Information Bureau.

Mutual Of Omaha Burial Insurance

When you apply for life insurance, that insurance company will make a report about you to MIB. Their report will contain whatever information you revealed.

For example, if you said you have cancer right now, their report would contain your cancer diagnosis.

Insurance companies like Mutual of Omaha check MIB so they can ensure applicants are being honest.

So let’s say you told Company ABC that you have cancer, but you attempt to tell Company XYZ that you do not.

Well Company XYZ would see that your MIB file indicated that you told Company ABC that you did have cancer. This would definitely impact your application with Company XYZ.

Don’t worry too much about MIB though. As long as you’ve been honest with other companies, you have nothing to worry about.

Now you’re probably wondering… What health issues do they not accept?

The health questions are listed below.

Make sure you pay attention to the time frame for each section.

To qualify for their immediate coverage level benefit, you must be able to say no to all questions in part one and part two.

 

Part One Questions


Quick Tip: If you were to say yes to any question in Part One, you are not eligible for Living Promise at all.


Are you currently:

  • Bedridden, confined to any kind of nursing facility, or receiving home health care?
  • Need help with activities of daily life like bathing, eating, taking medicine, toileting, dressing, getting in or out of a chair or bed, or control of bladder or bowel problems?
  • Require an electric scooter, wheelchair or oxygen equipment (cpap is acceptable)?

 

Have you ever had or been diagnosed with or treated for:

  • AIDS, HIV, or an AIDS related complex?
  • Alzheimer’s, dementia, mental incapacity, congestive heart failure, metastatic cancer, a reoccurrence of a previous cancer, sickle cell anemia, Lou Gehrig’s disease, paraplegia, quadriplegia, down’s syndrome, myelodysplastic syndrome, or hunting’s disease?
  • Diabetic coma, insulin shock, dialysis, or amputation due to diabetes?
  • Advised to receive a bone marrow, tissue or organ transplant?
  • Terminal condition expected to cause death in 12 months?

 

In the last 12 months have you been:

  • Advised to have any surgery, diagnostic test, hospitalization, treatment or other procedure that hasn’t been complete or for which results are unknown? (this is asking about pending stuff)
  • Had a heart surgery or been diagnosed as having heart disease? (this is only asking about the initial diagnosis)

 

In the last 2 years:

  • Been diagnosed with, treated, or been advised to seek treatment for any form of cancer (basal and squamous cell are the exception)?

Part Two Questions


Quick Tip: If you say yes to any question in Part Two, you would at best be eligible for the Living Promise Graded Plan which has a two year waiting period.


Have you ever been diagnosed with, treated for, or been advised to seek treatment for:

  • Hepatitis C
  • COPD, emphysema, chronic lung disease, or sarcoidosis?
  • Diabetes prior to age 50
  • Diabetic complications such as neuropathy, retinopathy, nephropathy, or peripheral vascular disease?

 

In the last 4 years have you been diagnosed with, treated for, or been advised to seek treatment for:

  • Cancer (except basal or squamous cell)?
  • Bipolar disorder, schizophrenia, multiple sclerosis or Parkinson’s disease?
  • Chronic kidney disease, scleroderma or systemic lupus?

 

In the last 24 months have you been diagnosed with, treated for, or been advised to seek treatment for:

  • Valvular heart disease with surgical repair, coronary artery disease (events such as blockages or stent procedures), irregular heart rhythm, heart attack, artery bypass surgery, angioplasty, stroke or mini stroke (TIA attack)?

 

In the prior 24 months have you:

  • Been convicted of or presently awaiting trial for a felony offense?
  • Received treatment for drug or alcohol abuse, been convicted more than once of driving recklessly or DUI or used unlawful drugs in any form or abused or improperly used prescription drugs?
  • Been confined to a hospital for any nervous or mental disorder?

 

In the past 12 months:

  • Experienced unexplained weight loss greater than 10 pounds, consulted a doctor for a chronic cough, fatigue, or gastrointestinal bleeding?

 

Living Promise Has 2 Policy Riders

For starters, not all these riders are available in all states.

Mutual of Omaha funeral insurance plans come with one free built in rider and one option rider.

Mutual Of Omaha Burial Insurance

First, every living promise final expense insurance policy will come with the following riders. You do not pay for these. They come bundled with the policy at no extra cost.

  • Terminal Illness: If you are diagnosed with a terminal illness and given 12 months or less to live, you can accelerate up to 50% of your death benefit while still alive. Whatever amount you accelerate will reduce the death benefit accordingly.
  • Nursing Home Confinement: You can accelerate up to 50% of your death benefit if you are confined to a nursing home for 90 consecutive days or expect be indefinitely.

There is one optional rider you can purchase that will cost extra which is the Accidental Death Rider. This rider would double the payout of the policy if you were to pass away due to an accident.

Please note, you cannot add on the accidental death rider if you are approved for the graded plan. The ADR can only be added to the a United of Omaha final expense level benefit plan.

 

Mutual Of Omaha Guaranteed Issue

Mutual has probably the most price competitive guaranteed issue policy in the nation. There are very few situations where you can find a guaranteed acceptance plan at a lower rate.

Even other low cost GI carriers such as AIG or Gerber have trouble matching their rates.

To be clear, a guaranteed issue policy is one where there is no medical or lifestyle underwriting. No health questions, exams or any health information required.

With guaranteed issue, the insurer literally knows nothing about your health.

Mutual Of Omaha Burial Insurance

Now

The main thing you need to be aware of about guaranteed issue policies is that they ALL (no exceptions) have a minimum two-year waiting period.

During the waiting period United of Omaha will not payout the death benefit. Instead, they would give you back all your money and tack on 10% interest.

After two years, they’ll payout the full amount for any reason.

Please note that during the first two years, they will pay out 100% of the death benefit if death is the result of an accident (car crash, lightning, fall off a roof, etc).

Here’s a breakdown of their guaranteed issue plan

  • Available in all states except CT and MT
  • Issue ages are 45-85 (
  • Face amounts are $2,000-$25,000 (minimum is $5k in WA)
  • Sold directly from Mutual of Omaha (not sold through brokers like Choice Mutual)
  • Full 2 year waiting period

You can see a list of their policy details here. On their site, you can even get instant quotes and fully apply if you wish.

Since United of Omaha’s guaranteed acceptance plan has no health underwriting, there are only two ways you would not be eligible.Mutual Of Omaha Burial Insurance

The first is if you live in a state where they don’t sell it.

The second would be if you do not have the mental capacity to enter into a legal contract. For example, if you had advanced Alzheimer’s and are no longer able to sign a contract, you would not be eligible.

Outside of those two reasons, you cannot be turned down for any reason.

 

United Of Omaha Living Promise & Guaranteed Issue Quotes

Below you will see side by side quotes for the immediate benefit plan (Living Promise Level) and their guaranteed acceptance policy (that has a 2-year waiting period).MutualOfOmahaBurialInsurance

Please remember, you are no limited to just $10,000 or $20,000 for either plan. You can have more, less, or numbers in between.

If you want to see more rates for the Living Promise product, just use the quote tool that is on this page. You can run quotes for any face amount you’d like. You won’t even need to put in a phone number or email to see prices.

Female Non Tobacco

AGE$10,000 Living Promise
(No Waiting Period)
$10,000 Guaranteed Issue
(2 Year Wait)
$20,000 Living Promise
(No Waiting Period)
$20,000 Guaranteed Issue
(2 Year Wait)
45 $22.61 $27.00 $42.01 $53.00
46 $23.02 $27.00 $42.84 $53.00
47 $23.55 $27.00 $43.89 $53.00
48 $24.18 $27.00 $45.16 $53.00
49 $24.48 $27.00 $45.76 $53.00
50 $24.67 $30.00 $46.14 $59.00
51 $25.45 $30.00 $47.70 $59.00
52 $25.88 $30.00 $48.56 $59.00
53 $26.62 $30.00 $50.04 $59.00
54 $27.47 $30.00 $51.73 $59.00
55 $28.40 $37.50 $53.60 $74.00
56 $29.27 $37.50 $55.34 $74.00
57 $30.06 $37.50 $56.91 $74.00
58 $30.83 $37.50 $58.46 $74.00
59 $31.70 $37.50 $60.20 $74.00
60 $32.87 $42.00 $62.53 $83.00
61 $34.51 $42.00 $65.82 $83.00
62 $36.06 $42.00 $68.92 $83.00
63 $37.72 $42.00 $72.23 $83.00
64 $39.36 $42.00 $75.53 $83.00
65 $41.01 $51.00 $78.82 $101.00
66 $43.44 $51.00 $83.68 $101.00
67 $45.86 $51.00 $88.52 $101.00
68 $48.29 $51.00 $93.38 $101.00
69 $50.81 $51.00 $98.42 $101.00
70 $53.24 $69.00 $103.28 $137.00
71 $56.63 $69.00 $110.06 $137.00
72 $60.12 $69.00 $117.04 $137.00
73 $63.93 $69.00 $124.65 $137.00
74 $67.78 $69.00 $132.36 $137.00
75 $72.41 $98.00 $141.62 $195.00
76 $78.25 $98.00 $153.29 $195.00
77 $83.51 $98.00 $163.81 $195.00
78 $88.44 $98.00 $173.67 $195.00
79 $93.41 $98.00 $183.62 $195.00
80 $98.43 $139.50 $193.66 $278.00
81 $106.21 $139.50 $209.22 $278.00
82 $113.96 $139.50 $224.71 $278.00
83 $121.31 $139.50 $239.41 $278.00
84 $128.55 $139.50 $253.90 $278.00
85 $135.90 $139.50 $268.60 $278.00

Male Non Tobacco

AGE$10,000 Living Promise
(No Waiting Period)
$10,000 Guaranteed Issue
(2 Year Wait)
$20,000 Living Promise
(No Waiting Period)
$20,000 Guaranteed Issue
(2 Year Wait)
45 $25.45 $32.50 $47.69 $64.00
46 $26.17 $32.50 $49.15 $64.00
47 $27.02 $32.50 $50.84 $64.00
48 $27.96 $32.50 $52.72 $64.00
49 $28.52 $32.50 $53.85 $64.00
50 $29.16 $36.00 $55.11 $71.00
51 $30.30 $36.00 $57.41 $71.00
52 $31.12 $36.00 $59.04 $71.00
53 $32.20 $36.00 $61.20 $71.00
54 $33.61 $36.00 $64.01 $71.00
55 $35.09 $45.00 $66.98 $89.00
56 $36.45 $45.00 $69.70 $89.00
57 $37.91 $45.00 $72.61 $89.00
58 $39.27 $45.00 $75.33 $89.00
59 $40.82 $45.00 $78.43 $89.00
60 $42.76 $55.00 $82.31 $109.00
61 $45.38 $55.00 $87.56 $109.00
62 $47.90 $55.00 $92.60 $109.00
63 $50.52 $55.00 $97.83 $109.00
64 $53.14 $55.00 $103.08 $109.00
65 $55.76 $66.00 $108.31 $131.00
66 $59.35 $66.00 $115.49 $131.00
67 $62.93 $66.00 $122.66 $131.00
68 $66.53 $66.00 $129.85 $131.00
69 $70.11 $66.00 $137.02 $131.00
70 $73.70 $89.00 $144.20 $177.00
71 $78.36 $89.00 $153.51 $177.00
72 $82.92 $89.00 $162.64 $177.00
73 $88.01 $89.00 $172.82 $177.00
74 $93.16 $89.00 $183.11 $177.00
75 $99.53 $121.00 $195.85 $241.00
76 $106.87 $121.00 $210.54 $241.00
77 $113.64 $121.00 $224.08 $241.00
78 $119.86 $121.00 $236.51 $241.00
79 $126.23 $121.00 $249.25 $241.00
80 $132.65 $166.00 $262.11 $331.00
81 $143.00 $166.00 $282.79 $331.00
82 $153.54 $166.00 $303.88 $331.00
83 $163.41 $166.00 $323.62 $331.00
84 $173.28 $166.00 $343.36 $331.00
85 $183.15 $166.00 $363.10 $331.00

 

Should You Buy Final Expense Insurance From Mutual Of Omaha?

The answer to this question is it depends.

Understand that no company can be the best option for everyone. That’s flat out impossible.

Mutual Of Omaha Burial Insurance

Having said that, we’ll do our best to be as specific as possible.

First of all, if you can qualify for their Living Promise level benefit policy, YES do it asap! That plan offers immediate coverage and has some of the lowest rates in the industry.

Plus, they will allow you to buy up to $40,000 in coverage. Most other final expense companies have a face amount maximum of $20k-$30k.

As stated earlier, you can only buy Mutual of Omaha Living Promise from brokers who are licensed to sell their insurance.

We absolutely are licensed to sell Mutual of Omaha, so give us a call if you are interested in their coverage.

We strongly urge you to contact us to see if you would qualify for their level benefit plan. Our agents know the underwriting backwards and forwards and can quickly determine if you would be approved.

If you want to try figure it out on your own, read through the health questions here. You would need to be able to say no to all o those in order to be eligible for their no waiting period policy.

When it comes to the Living Promise graded benefit whole life insurance mutual Omaha, no you should not buy that. There is no reason to. You can get a much better deal elsewhere.

That brings us to the last burial policy Mutual of Omaha has- guaranteed acceptance. Now this plan is ideal in certain situations.

If you have any of the following health issues, United of Omaha’s guaranteed issue policy is very likely your best option.

  • Dementia or Alzheimer’s
  • Confined to any nursing facility
  • Dialysis
  • Transplants
  • Wheelchair bound due to a chronic disease or illness
  • HIV or AIDS
  • Currently have cancer (not basal or squamous)

There are some situations outside of these where their guaranteed issue plan would be ideal, but this covers most of them.

 

Tips To Finding The Best Policy

We are going to keep this short and sweet. You may think this is too simple, but it’s not. It’s the truth!

If you’re in the market for final expense insurance, all you have to do is find a reputable independent broker that represents lots of companies.

That’s it.

Mutual Of Omaha Burial Insurance

We give you this advice because

  1. The least expensive plans that have no waiting period are only sold through agencies
  2. You cannot determine on your own which companies will approve you
  3. There are many companies that you don’t even know exist and you want access to them
  4. An independent agency exists solely to compare offers from multiple carriers to find you the best deal

If you try to “not deal with an agent”, you better be prepared to pay more and have a waiting period.

Independent agents are here to help you not sell you.

For example, if you call us all we would do is ask you questions to learn about your health and goals. Then we would recommend which company would be best for you. If you’re ready to apply, we’ll help you get approved. If you need time, we’ll give you time.

That’s literally how it goes. No sales pitches or pressure to do it now. Just honest advice and respect.

What more could you ask for?

 

Mutual Of Omaha Company Background

Based out of Omaha Nebraska, Mutual of Omaha has been in business since 1909.

To say they are financially stable would be an understatement. Basically, they have the highest financial ratings an insurance company can get.

Here’s some:

  • M. Best: A+ (Superior)
  • Moody’s: A1 (Good)
  • Standard & Poor’s: AA- (Very Strong)
  • BBB: A+

You can count on them being able to pay their claim when that time comes.

Them as a company should never be in question. The only question to ask is whether or not their products are right for you.

Here is their contact info:

  • Website: www.mutualofomaha.com
  • Phone: 1-800-775-6000
  • Corporate address: Mutual of Omaha Plaza Omaha, NE 68175
About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual is an independent agency licensed in all 50 states including DC. We work with over 20 highly rated final expense life insurance companies, so that we can compare offers from all of them to find you the best deal.

This entry was posted in Burial Insurance Companies. Bookmark the permalink.

16 Comments

Lakee Babineaux

I am inquiring about burial insurance for my mother. She is 75, doesn’t have any of the health problems listed in the above reading, is not on medication but hasn’t been to the dr in years and refuses to go. But she is in fine health. Would she still qualify for immediate protection?

April 1, 2017 at 2:13 am
Choice Mutual

Hi there Lakee,

Based off what you are saying, yes should would qualify for immediate protection. I sent you an email on this as well.

April 1, 2017 at 6:36 pm
Byron Farr

I have questions

October 17, 2017 at 4:09 am
    Choice Mutual

    Hey Byron,

    Fire away. What questions do you have?

    October 17, 2017 at 6:06 am
Nancy Purcell

How do I get a quote without a phone number?

March 2, 2018 at 12:59 pm
    Choice Mutual

    Hey Nancy,

    You can just put in a fake phone number. That always works 🙂

    You can also call us and an agent will give you an accurate quote. They won’t call you back either unless you ask them to.

    Hope this helps!

    March 2, 2018 at 2:33 pm
Curt Godwin

What are the monthli fee for a 68 years old male

August 12, 2018 at 7:35 pm
    Choice Mutual

    Hi Curt,

    To calculate rates, we need more information than just a gender an age. Additional factors such as the ones below will influence the net cost.
    – Resident state of the insured
    – Tobacco usage
    – Coverage amount
    – Health

    You can do two things to see prices. First, you can run quotes on our site, and you’ll see what Mutual of Omaha charges. In addition, you can call us and one of our agents will ask you a few things so they can give you truly accurate quotes that takes into account the health of the person you are looking to insure. Our number is 1-800-644-2926.

    Feel free to reach out to us with anything you need!

    August 13, 2018 at 5:48 am
Rita Coleman

My husband has a pacemaker but has not had a heart event in 28 months, otherwise he doesn’t have any other medical conditions. How much would it cost for $10000 of burial insurance for a 57 year old.

December 1, 2018 at 10:21 am
    Choice Mutual

    Hi Rita,

    We would need some additional details about your husband. Having said that, we feel very strongly that it would cost him about $37-40 per month for $10,000 in coverage that has no waiting period. He would probably qualify for that, but again we would need to ask you a few things to confirm that.

    If that interests you, call us at 1-800-644-2926 and one of our agents will figure this out very quickly for you.

    December 2, 2018 at 6:29 am
Lovida Roach

I requested an application for my mother over a month ago and never received one. I really need to get coverage for her but if your company is unable to assist, I can inquire with other companies. Thanks.

December 11, 2018 at 5:50 pm
    Choice Mutual

    Hi Lovida,

    We tried to call, email and text you mulitple times, but we recieved no response. We cannot help you without you communicating with us.

    When you can, please call us at 1-800-644-2926 and one of our agents will get you take care of.

    Thanks,

    December 11, 2018 at 7:31 pm
Devin Jones

Looking for burial insurance for my grand mother 97 years old.

March 23, 2019 at 12:36 pm
    Choice Mutual

    Hi Devin,

    We’re sorry to tell you this, but no insurance company will offer any kind of life insurance to someone who is 97.

    Your best option would be to do a pre arrangement with a funeral home. It’s not insurance, but it’s better than nothing.

    Hope this helps.

    March 24, 2019 at 6:18 am
Debra Hill

I have had 2 heart stents, and have had back surgery for a work related injury. I’m 59 and I do smoke. Am I eligible?

April 2, 2019 at 7:55 am
    Choice Mutual

    Hi Debra,

    Yes you will be eligible. The details of your heart stents (mainly when they occurred) will determine which plan you’ll qualify for.

    Call us at 1-800-644-2926 and one of our agents will help you with this.

    Thanks,

    April 2, 2019 at 9:19 am
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