Physicians Mutual final expense life insurance is a modified whole life policy with no health questions (acceptance is guaranteed). If you do want or need a policy without health questions, Physicians Mutual is often the best company. Other guaranteed acceptance insurers rarely beat Physicians Mutual’s prices.
While the convenience of not having to answer health questions is nice, you must keep in mind that it comes at the cost of a two-year waiting period. In addition, plans with health questions are cheaper.
Ultimately, most seniors can qualify for a funeral policy with no waiting period with one or more companies. This is where Physicians Mutual falls short because they don’t offer final expense insurance with first-day coverage.
- You cannot be denied for pre-existing conditions.
- Often, they have the lowest price for guaranteed acceptance insurance.
- You can see quotes and apply online without speaking with an agent.
- There is a two-year waiting period for any nonaccidental death.
- $20,000 is the maximum amount of final expense insurance you can buy.
- If you want a policy that covers you immediately, you must seek another provider.
How Does Physicians Mutual Life Insurance Work?
Physicians Mutual offers final expense, children’s, and term life insurance.
- Final expense insurance: A modified whole-life policy with no medical questions or physical exam. Because acceptance is guaranteed, a 24-month waiting period applies. If you die during the waiting period, your beneficiaries will only receive a refund of premiums plus 10% interest. Because it’s a whole life policy, the premium will never change, and the policy lasts forever.
- Children’s life insurance: It’s whole life insurance for minors. The coverage lasts forever, and the rate will not increase. When the child turns 21, the death benefit will double (the price stays the same). To qualify, you must answer two health questions about the child.
Physicians Mutual used to offer term life insurance, but no longer.
All policies can be purchased online without having to speak with an agent.
Regardless of which policy you purchase, the net result upon the insured’s death is a tax-free cash payment to the beneficiaries. There are no restrictions on how the death benefit payout is spent.
How Much Does Physicians Mutual Guaranteed Issue Whole Life Insurance Cost?
The table below has some sample Physicians Mutual burial insurance quotes.
| Age & Gender | $5,000 | $10,000 | $20,000 |
|---|---|---|---|
| Female age 45 | $18 | $34 | $67 |
| Male age 45 | $21 | $40 | $79 |
| Female age 50 | $18 | $35 | $68 |
| Male age 50 | $21 | $41 | $81 |
| Female age 55 | $18 | $35 | $69 |
| Male age 55 | $22 | $42 | $83 |
| Female age 60 | $22 | $43 | $85 |
| Male age 60 | $26 | $52 | $102 |
| Female age 65 | $25 | $48 | $95 |
| Male age 65 | $31 | $62 | $123 |
| Female age 70 | $32 | $64 | $126 |
| Male age 70 | $40 | $78 | $156 |
| Female age 75 | $42 | $84 | $166 |
| Male age 75 | $54 | $107 | $213 |
| Female age 80 | $63 | $124 | $248 |
| Male age 80 | $74 | $147 | $293 |
| Female age 85 | $89 | $176 | $352 |
| Male age 85 | $100 | $199 | $397 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are rounded to the nearest dollar, and are valid as of 03/09/2026. | |||
Should You Buy Life Insurance From Physicians Mutual?
First, if you need or want a guaranteed acceptance policy, Physicians Mutual is probably your best option. They consistently have the lowest prices relative to other guaranteed acceptance companies. Below is a cost comparison between Physicians Mutual, AAA, and Mutual of Omaha.
| Sample applicant | Physicians Mutual | Mutual of Omaha | AAA |
|---|---|---|---|
| $10,000 55-year-old female | $35 | $38 | $46 |
| $10,000 81-year-old female | $135 | $136 | $118 |
| $15,000 63-year-old male | $88 | $96 | $90 |
| $15,000 70-year-old male | $117 | $130 | $142 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are rounded to the nearest dollar, and are valid as of 03/09/2026. | |||
However, it’s best to get a policy that includes health questions because if approved, there would be no waiting period, and the cost would likely be lower. For that, Physicians Mutual cannot assist you, so you would need to explore other companies, such as Mutual of Omaha life insurance, Transamerica, or Aflac, to name a few.
Truthfully, most pre-existing conditions are eligible for immediate coverage. Especially if you have prior health issues, it’s recommended that you consult with an independent insurance agency that represents multiple final expense insurance companies. They can compare each company to find a policy that fully insures you from day one.
The children’s life insurance is priced on par with Mutual of Omaha’s, making it highly competitive. However, they only allow you to buy $10,000 for a child, which is significantly lower than what other companies offer.
How To Apply For Physicians Mutual Life Insurance
To apply for Physicians Mutual’s life insurance, you have the following three options:
- Apply online.
- Call them at 1-844-285-1868.
- Request a paper application, complete it, and return it to them.
Once your application is approved, they will mail a paper policy.
How To File A Death Claim With Physicians Mutual
To file a death claim with Physicians Mutual, they require you to call them at 1-800-228-9100. They state on their website that you should allow 7 to 10 business days for processing time once they receive the required documents.
While it does not clarify which documents they require, it’s safe to assume they’ll need a death certificate and a signed beneficiary statement. Those are standard documents life insurance companies require to process a death claim.
Frequently Asked Questions
Physicians Life Insurance Company is a part of the Physicians Mutual family of companies. There is also Physicians Select Insurance Company, which is under the same umbrella.
Physicians Mutual is a genuine insurance company authorized by the NAIC to sell life insurance in all 50 states. They have been in business since 1909 and have an A rating with A.M Best.
Physicians Mutual final expense insurance has no health questions and a two-year waiting period. Their term life and children’s whole life insurance have no waiting period (if you’re approved).
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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A.M. Best. https://ratings.ambest.com/DisclosurePDF.aspx?AMBNum=7372
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BBB. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/physicians-mutual-insurance-company-0714-104000372
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Trustpilot. https://www.trustpilot.com/review/physiciansmutual.com
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Yelp. https://www.yelp.com/biz/physicians-mutual-insurance-omaha-3
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BBB Score & Accreditation. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/physicians-mutual-insurance-company-0714-104000372
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final expense. https://www.physiciansmutual.com/web/life/final-expense
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children’s. https://www.physiciansmutual.com/web/life/juvenile
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term life insurance. https://www.physiciansmutual.com/web/life/term
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online. https://www.physiciansmutual.com/web/life
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on their website. https://www.physiciansmutual.com/web/life/faqs
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Google. https://www.google.com/search?client=firefox-b-1-d&q=physicans+mutual+omaha+ne#lrd=0x87938e4eb4117a1d:0xa0eb54024f5bbf4e,1,,,,
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NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=80578&REALM=PROD&COCODE=80578&REALM=PROD
