Looking for life insurance and considering Mutual of Omaha’s coverage for kids?
Well you came to the right place.
In this 2020 review, we go over the policy details, rates, faqs and how you can apply 100% online in literally minutes.
Article Quick Navigation Links
Mutual of Omaha’s children’s insurance is a whole life insurance policy for children age 0-17. No exam is required and there’s no waiting period once the policy is issued.
Face amounts range from $5,000-$50,000, prices never increase, coverage won’t decrease, policy never expires, and it builds cash value you may borrow from.
Grandparents can purchase the coverage on their grandchildren without children’s parents knowledge or consent.
The policy also comes with two free riders listed below.
- Waiver of premium rider: This free rider will waive all premiums for 90 days if the policy owner dies starting from the date the owner passed away. This is great because it allows someone else to take over the policy, so it doesn’t lapse. Click here to see a sample waiver of premium rider.
- Guaranteed insurability rider: This free rider allows you to buy additional life insurance on the life of the insured later on in life. Click here to see a sample guaranteed insurability rider. The options to buy additional coverage are:
- The policy anniversary dates following the insured’s 25th, 30th, 35th, and 40th birthdays
- The insured’s marriage, domestic partnership, civil union, or equivalent relationship
- The insured’s birth or adoption of a child
- The purchase of a home
Again, both riders come with the policy at no additional cost.
Below are prices for their children’s life insurance coverage. Mutual of Omaha prices their coverage using a five year age band system.
For example, newborn life insurance costs are the same for any child who is 1, 2, 3, or 4. They all pay the same rate in that bracket.
Please note, you aren’t limited to coverage options. You can buy any amount between $5,000 and $50,000.
Boys and girls pay the same rate | Rates don’t change | Coverage never expires
AGE $10,000 $20,000 $30,000 $50,000
0-4 $4.00 $7.00 $10.00 $16.00
5-9 $4.80 $8.60 $12.40 $20.00
10-14 $5.50 $10.00 $14.50 $23.50
15-17 $6.90 $12.80 $18.70 $30.50
Just as described above, children’s insurance from United of Omaha is very straightforward and simple to understand.
If you want to view a sample policy, brochure or application just click on one below.
Apply for Mutual of Omaha child insurance is probably the easiest thing you’ve ever done.
First, use the quoting tool on this page to run quotes. You will see instant prices for however much coverage you’re interested in.
Then you click the button to apply and fill out the application.
Once you fill out all the information, just hit the submit button and Mutual of Omaha will receive your application.
From there, you’ll get a paper policy in the mail within 5-7 business days. The coverage will take full effect on whatever day you choose your payments to start (you get to pick the date).
You’ll have to provide the following pieces of information about the insured children:
- Answers to the 3 health questions
Whoever is purchasing the coverage will need to provide this information:
- Mailing address
- Relationship to the children
- Phone number
- Beneficiary names (if other than you)
- Payment information
Just know, all your information is secure via a highly encrypted application and is never shared with anyone.
All your information will be sent directly to Mutual of Omaha.
We evaluated all the top life insurance companies that offer life insurance coverage to grandchildren and children.
Below are the top 3 in order from best to worst.
1) Mutual of Omaha
Not surprisingly, United of Omaha came in at number one because of their rates being so low, coverage being high, outstanding financial record and great customer service.
Plus the free riders they include are amazing. Overall, they hands down have the best whole life insurance for babies.
2) Gerber Life
Gerber’ Grow-Up Plan for children isn’t the least expensive option on the market, but it’s still a great policy worthy of the #2 spot.
They double the coverage once the insured child reaches 18 (with no increase in premium), and Gerber boasts a great track record for how they service their policyholders.
You should definitely buy Mutual of Omaha first, but if you need more than $50,000 in coverage then look to Gerber next.
3) Globe Life
Where Globe really shines is their low rates and age range for new applicants. Their rates are right there with Mutual of Omaha, so you’ll be getting a very good price.
In addition, if you’re trying to insure a child/grandchild who is 18-24, Globe Life for kids is the company for you.
They will allow you to buy coverage on kids in that age range without their knowledge or consent.
No other company will do that.
You have questions and we have answers. Most of the common questions we’re asked are below along with the appropriate answer.
If you have a question that you don’t see here (or in the article), email us at info @ choicemutual.com.
We’ll post your question and answer to this page within two business days.
Can grandparents buy Mutual of Omaha coverage on grandkids?
Yes! Grandparents can purchase the coverage and they won’t need permission from the children’s parents.
What type of policy is United of Omaha’s child coverage?
Mutual of Omaha’s child coverage is whole life insurance. The rates won’t change, the coverage won’t decrease, and the policy will never expire?
Are there any health questions?
Yes there are 3 health questions on the application. A yes answer doesn’t necessarily mean the child won’t qualify. Go here to see a sample application and you can read the health questions for yourself.
What is the difference between Mutual of Omaha and United of Omaha?
There is no difference. Mutual of Omaha is a very large insurance company that sells multiple types of insurance. Their life insurance products go under the name “United of Omaha”.
It’s the same company just a different name for their life insurance products.
What happens if the policy owner dies? Does the coverage lapse?
If the policy owner should die there will be a 90 grace period for someone else to take over the policy. The payments during this time do not need to be replaced. United of Omaha will waive the payments not made during this 90 day period.