2024 Mutual of Omaha Burial Insurance Review
last updated on July 22, 2024This Mutual Omaha burial insurance review was written to help you find the best final expense insurance company and pricing.
When you’re looking to get insurance coverage, there are different factors that you should consider to ensure you are getting the best plan possible.
Our Mutual of Omaha, burial insurance review will help you decide if these plans are right for you.
| MUTUAL OF OMAHA FUNERAL FUNDS 5-STAR RATING | |
|---|---|
| 1st Day Coverage | ★★★★★ |
| Ease of Approval | ★★★ |
| Coverage Amount | ★★★★★ |
| Pricing | ★★★★ |
| Riders | ★★ |
FOR EASIER NAVIGATION:
- Does Mutual of Omaha Offer First-day Coverage?
- Pros of Mutual of Omaha Burial Insurance
- Cons of Mutual of Omaha Burial Insurance
- Mutual of Omaha Burial Insurance Products
- Mutual of Omaha Burial Insurance Riders
- When Does Mutual of Omaha Burial Insurance Make the Most Sense?
- Mutual of Omaha Underwriting Guidelines
- Mutual of Omaha Pricing Examples
- Getting Approved for Mutual of Omaha Burial Insurance
- The Best Payment Option
- Mutual of Omaha Company Overview
- How Can Funeral Funds Help Me?
- Additional Questions & Answers On Mutual Of Omaha
Does Mutual Of Omaha Offer First-day Coverage?
Yes, Mutual of Omaha has a burial insurance plan with first-day coverage for their “Level Death Benefit” plan. If you qualify, you will be fully covered from the first day.
Unfortunately, their “Graded Benefit” plan has a 2-year waiting period.
Their burial insurance plan is called the Living Promise plan. It has a level death benefit that can be used for burial, cremation, final expenses, or basic life insurance needs. They have fairly lenient underwriting, and you can qualify for first-day coverage if you have some health issues.
Pros Of Mutual Of Omaha Burial Insurance
First-day coverage – The Living Promise level benefit plan comes with first-day coverage and no waiting period.
Competitive pricing – their level benefit plan has low pricing.
Accelerated death benefit rider – available with level benefit plan.
Application process – In-person or digital online application completed by a licensed agent.
Cons Of Mutual Of Omaha Burial Insurance
Has build chart – You may not qualify if you are on the heavy side (obese or morbidly obese).
Waiting period – The graded benefit plan comes with a 2-year waiting period.
Not all health issues will qualify – significant medical conditions can be denied even with the graded plan.
Mutual Of Omaha Burial Insurance Products
This section of the Mutual of Omaha review will cover the different burial policies offered by Mutual of Omaha. There are two types of burial insurance offered by Mutual of Omaha.
- The Living Promise with LEVEL death benefit
- The Living Promise with GRADED death benefit (2-year waiting period plan)
Your health will determine which plan you will qualify for.
MUTUAL OF OMAHA BURIAL INSURANCE: THE LIVING PROMISE LEVEL DEATH BENEFIT
| LIVING PROMISE LEVEL BENEFIT PLAN FEATURES | |
|---|---|
| Age Availability | 45-85 |
| Immediate Coverage | 100% coverage from day one |
| Coverage Amount | $2,000 - $40,000 |
| Level Premium | Price never increases |
| Level Benefit | Coverage never decreases |
| Lifetime Coverage | Lasts until age 121 |
The Living Promise level death benefit plan requires you to answer some health questions to determine if you are insurable.
You are eligible for this plan if you say “no” to all the health questions. If you are eligible for this plan, you get first-day full coverage.
MUTUAL OF OMAHA BURIAL INSURANCE: LIVING PROMISE GRADED BENEFIT PLAN
| LIVING PROMISE GRADED BENEFIT PLAN FEATURES | |
|---|---|
| Age Availability | 45 and 80 years of age |
| Coverage Amount | $2,000-$20,000 |
| Graded Benefit | 2 year waiting period |
| Level Premium | Price never increase |
| Level Benefit | Coverage never decreases |
Mutual Of Omaha Burial Insurance Riders
Living Promise Level Benefit Plan Only
Accelerated death benefit for terminal illness or nursing home confinement rider (not available in New York) can be accessed under these circumstances:
- If the insured is diagnosed with a terminal illness, that will result in death within 12 months or less.
- If the insured is confined to a nursing home for 90 consecutive days and expected to be confined their whole life.
- If the insured cannot perform at least two of the activities of daily living because of chronic illness.
Optional: Accidental Death Benefit Rider
This rider would double the death benefit value if the insured died from an accident.
OTHER BENEFITS:
POLICY LOANS – you can borrow up to 100% of your cash value. This is tax-free. Loans reduce your cash value amount and are subtracted from your death benefit. The interest on policy loans varies by state.
When Does Mutual Of Omaha Burial Insurance Makes The Most Sense?
Mutual of Omaha Living Promise level benefit plan can be one of your best burial insurance options if you can answer no to all the health questions.
If you have minor health issues like:
- High cholesterol
- High blood pressure
- Arthritis
- Diabetes after age 50 with no complications
- Heart attack over 2 years ago
- Strokes over 2 years ago
Mutual of Omaha will still issue this level benefit plan.
Their level benefit plan is competitively priced.
We do not recommend the GRADED plan for most people because we can often find better options with other companies.
A graded plan should be your last option. You should only apply for this policy if you have significant health issues. Other than that, let our agents at Funeral Funds review your health history to get a reasonable price and full first-day coverage!
Mutual Of Omaha Underwriting Guidelines
Mutual of Omaha will determine your eligibility through the following:
- Your answers to their health questions
- Medical Information Bureau (MIB) records
- Your height and weight
- Your prescription history
There are two sets of health questions with Omaha Mutual Life Insurance Company.
The “knockout” questions can be found in the first part of the application. A yes answer to the knockout questions will disqualify you from the level death benefit plan.
The second set of health questions is for the graded benefit plan. If you answer yes to any of these conditions, you will be approved for the graded benefit plan.
THE KNOCKOUT QUESTIONS FOR MUTUAL OF OMAHA ARE:
Is the applicant currently:
- Bedridden or confined to any hospital, nursing home, long-term care facility, or skilled nursing facility; or receiving or been advised to receive care in a nursing home, hospice care, or home health care?
- Requiring assistance with activities of daily living such as taking medications, bathing, dressing, eating, toileting, getting in and out of a chair or bed, or control of bowel or bladder problems?
- Requiring any of the following (other than for fractures, bone, or joint surgery, including replacement): wheelchair, electric scooter, or oxygen equipment to assist breathing (excluding use for sleep apnea)?
Has the Proposed Insured ever been:
- Diagnosed as having Acquired Immune Deficiency Syndrome (AIDS), AIDS-Related Complex (ARC), or Human Immunodeficiency Virus (HIV) Infection (symptomatic or asymptomatic) or been treated for AIDS, ARC, or HIV by a physician or healthcare provider?
- Diagnosed with, been treated for, or advised by a physician or health care provider to receive treatment for Alzheimer’s Disease, Dementia, Huntington’s Disease, Sickle Cell Anemia, Myelodysplastic Syndrome (MDS), Lou Gehrig’s Disease (ALS), Quadriplegia, Paraplegia, Down’s Syndrome, mental incapacity, congestive heart failure, Cirrhosis, Metastatic Cancer or recurrent Cancer of the same type?
- Diagnosed with insulin shock, diabetic coma, or had an amputation due to diabetic complications or diagnosed with End-Stage Renal Disease or requiring dialysis?
- Advised to receive or have received an organ or bone marrow transplant?
- Diagnosed by a physician or health care provider as having a terminal medical condition that is expected to result in death within the next twelve 12 months?
In the past 12 months, has the Proposed Insured been:
- Advised by a physician to have a surgical operation, diagnostic testing other than for routine screening purposes or for those related to HIV/AIDS, treatment, hospitalization, or other procedure which has not been done or for which results are not known?
- Diagnosed by a physician or health care provider as having heart disease or heart surgery of any kind?
- In the past 2 years, has the Proposed Insured been diagnosed with, been treated for, or advised by a physician or health care provider to receive treatment for any form of cancer (except basal or squamous cell skin cancer)
Your reply to these health questions will determine if you will qualify for the level death benefit plan.
Mutual of Omaha will also examine your prescription history and MIB records as part of their risk analysis.
LIVING PROMISE GRADED BENEFIT PLAN HEALTH QUESTIONS:
Has the Proposed Insured ever (a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for:
- Diabetes before age 50 or diabetes at any age with complications of Retinopathy (eye), Nephropathy (kidney), Neuropathy (nerve), or Peripheral Vascular Disease (PVD or PAD)?
- Hepatitis C?
Chronic Lung Disease, including Chronic Obstructive Pulmonary Disease (COPD), Chronic Bronchitis, Emphysema, or Sarcoidosis?
In the past 4 YEARS, has the Proposed Insured: (a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for:
- Cancer, Leukemia, Melanoma, or any other internal cancer (except basal or squamous cell skin cancer)?
- Chronic Kidney Disease, Systemic Lupus, or Scleroderma?
- Bipolar Depression, Schizophrenia, Parkinson’s Disease, or Multiple Sclerosis?
In the past 2 YEARS, has the Proposed Insured: (a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for:
- Coronary Artery Disease, Heart Attack, Coronary Artery Bypass Surgery, Angioplasty, Cardiomyopathy, irregular heart rhythm, or Valvular Heart Disease with surgical repair or replacement?
- Stroke or Transient Ischemic Attack (TIA)?
In the past 2 years, has the Proposed Insured:
- Been convicted of or currently awaiting trial for a felony?
- Been treated for or advised to have treatment for alcohol or drug abuse or convicted more than once of reckless driving or driving under the influence of drugs or alcohol?
- Used unlawful drugs in any form or abused or misused prescription drugs?
In the past 2 years, has the Proposed Insured been hospitalized by a physician or healthcare provider for any mental or nervous disorder?
In the past 12 months, has the Proposed Insured consulted a physician for a chronic cough, unexplained weight loss greater than 10 pounds, fatigue, or unexplained gastrointestinal bleeding?
This policy provides a graded benefit. If the insured dies of natural causes during the first 2 years of the policy, the beneficiary will only receive all the premiums paid plus 10% interest. After the two-year waiting period, the full amount of the death benefit will be paid to the beneficiary, regardless of the insured’s cause of death.
This policy is whole life insurance. Mutual of Omaha whole life insurance plan will never expire as long as premiums are paid. The monthly premiums are locked in and will never increase. The death benefit cannot decrease for any reason.
Mutual Of Omaha Level Benefit Pricing Examples
| FEMALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $13.75 | $24.31 | $34.86 | $45.41 | $55.96 |
| 55 | $15.45 | $27.71 | $39.96 | $52.21 | $64.46 |
| 60 | $18.04 | $32.87 | $47.70 | $62.53 | $77.36 |
| 65 | $22.11 | $41.01 | $59.91 | $78.82 | $97.72 |
| 70 | $28.22 | $53.24 | $78.26 | $103.28 | $128.29 |
| 75 | $37.81 | $72.41 | $107.01 | $141.62 | $176.22 |
| 80 | $50.82 | $98.43 | $146.05 | $193.66 | $241.28 |
| MALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $16.94 | $30.68 | $44.42 | $58.15 | $71.89 |
| 55 | $19.58 | $35.95 | $52.32 | $68.69 | $85.06 |
| 60 | $23.48 | $43.76 | $64.04 | $84.32 | $104.60 |
| 65 | $29.84 | $56.48 | $83.12 | $109.75 | $136.39 |
| 70 | $38.91 | $74.61 | $110.31 | $146.01 | $181.72 |
| 75 | $51.59 | $99.97 | $148.36 | $196.74 | $245.13 |
| 80 | $71.47 | $139.73 | $207.99 | $276.26 | $344.52 |
*Pricing for illustration purposes only and are subject to change without notice.
Getting Approved For Mutual Of Omaha Burial Insurance
Applying for burial insurance with Mutual of Omaha is straightforward. It can be done through the Mutual Omaha life insurance phone number or via your computer with a licensed agent.
- Your independent agent will pre-qualify you over the phone and will assist you in filling out your e-application. Your agent will ask you for basic information such as date of birth and social security number.
- Your agent will ask for your beneficiary information
- You will be required to submit your payment information
- You will need to provide a voice signature or email signature
- They will verify your payment options
- After you make your first premium payment, your policy is active
- You will receive your policy in the mail within 7-10 business days after you pay your first premium. Your agent can also provide a digital copy of your policy.
The entire application process can be completed electronically in several minutes. To make your application quicker, have your important information readily available such as your social security number, beneficiary, and payment information.
The Best Payment Option
| PAYMENT METHOD | RECOMMENDED? |
|---|---|
| Savings Account | Best way to pay |
| Checking Account | Best way to pay |
| Cash | Not recommended |
| Money Order | Not recommended |
| Cashier's Check | Not recommended |
| Debit Card | Not recommended |
| Credit Card | Not recommended |
| Direct Express | Not recommended |
| PAYMENT FREQUENCY | RECOMMENDED | ACCEPTED BY |
|---|---|---|
| Monthly | Recommended | All Companies |
| Quarterly | Not Recommended | Some Companies |
| Semi-annually | Not Recommended | Some Companies |
| Annually | Not Recommended | Some Companies |
Mutual Of Omaha Company Overview
Mutual of Omaha Life Insurance Company was established on March 5, 1909. It is a privately owned, full-service Fortune 500 company based in Omaha, Nebraska.
Mutual of Omaha Insurance companies have several subsidiaries that provide insurance products, banking, and financial services to individuals and businesses in the United States.
These subsidiaries include the following:
- United of Omaha Life Insurance Company
- United World Life Insurance Company
- Omaha Insurance Company
- Mutual of Omaha Investor Services, Inc.
- Omaha Financial Holdings, Inc.
- East Campus Realty, LLC
MUTUAL OF OMAHA FINANCIAL RATINGS
- A+ (Superior) – A.M. Best
- AA- (Very Strong) – Standard & Poor’s
- A1 (Good) – Moody’s
- A+ – Better Business Bureau
How Can Funeral Funds Help Me?
In reality, inexperienced and less knowledgeable insurance agents will cost you loads of money by selling you overpriced burial and final expense policies.
An affordable burial or final expense policy doesn’t have to cost an arm and a leg.
Our job at Funeral Funds is to be the most knowledgeable burial insurance expert available. By doing so, we can knock it out of the park and get you the most accurate quote and affordable rates.
Once we know more about your age and health history, we can accurately give you a final expense rate and burial insurance quotes from the final expense companies that best fit you.
With access to all the best final expense insurance companies, we will help you understand your best options, given your current age, health, and financial situation.
We can shop your case to see which insurance company will give you the best price and coverage. Call us at (888) 862-9456 if you have any questions about life insurance. We are here to help!
Additional Questions & Answers On Mutual Of Omaha
Is Mutual of Omaha Life Insurance still in business?
Yes, Mutual of Omaha Life Insurance is still in business today. They continue to provide life insurance, Medicare supplement insurance, finance, and mortgage products.
What is Mutual of Omaha?
Mutual of Omaha is an insurance company based in Omaha, Nebraska.
Is Mutual of Omaha Life Insurance legitimate?
Yes, Mutual of Omaha is a legitimate life insurance company in America.
Is Mutual of Omaha a good insurance company?
Yes, Mutual of Omaha is a good insurance company offering competitively priced life insurance products.
Is United of Omaha the same as Mutual of Omaha?
United of Omaha is a subsidiary of Mutual of Omaha, and they write different insurance products.
Is Mutual of Omaha owned by policyholders?
Mutual of Omaha is a mutual company that its policyholders own.
How long has Mutual of Omaha been in business?
Mutual of Omaha was founded in 1909, they had been in business for 112 years.
What is the Mutual of Omaha financial rating?
A.M. Best gave Mutual of Omaha an A+ or superior rating.
What is the Mutual of Omaha website?
Check out Mutual of Omaha at https://www.mutualofomaha.com. You can find the Mutual of Omaha new logo there.
What is the Mutual of Omaha life insurance phone number?
Mutual of Omaha provider phone number: (800) 775-6000
Mutual of Omaha contact number
What is the Mutual of Omaha fax number?
Mutual of Omaha fax number: (866) 799-9076
What is the Mutual of Omaha customer service number?
Mutual of Omaha customer access number (800) 775-6000
What is Mutual of Omaha email address?
Mutual of Omaha email address: customercare@mutualofomaha.com
What is the Mutual of Omaha members’ login?
Mutual of Omaha sign-in for members. Check out your account here.
Where is Mutual of Omaha located?
3300 Mutual of Omaha Plaza Omaha, NE 68175
What is the Mutual of Omaha corporate address?
Mutual of Omaha corporate headquarters
Mutual of Omaha address
3300 Mutual of Omaha Plaza Omaha, NE 68175
Where can I find Mutual of Omaha life insurance reviews?
Read Mutual Of Omaha reviews here
Where can I find Mutual of Omaha BBB reviews?
Read Mutual of Omaha BBB reviews here.
How can I make Mutual of Omaha insurance online payment?
Mutual of Omaha life insurance payments can be made online. If you want to make Mutual of Omaha payments, you will need to provide your policy or coverage ID number to verify your identity. Mutual of Omaha pay bill online.
How can I access the Mutual of Omaha life insurance claim form?
Start the Mutual of Omaha Life Insurance claims process by filling out the form on this page
Where can I check Mutual of Omaha life insurance complaints?
Check out Mutual of Omaha complaints here
Looking for a Mutual of Omaha career?
Check this out for job Mutual of Omaha job opportunities.
What is the Mutual of Omaha Agent portal?
Mutual of Omaha producer portal and Mutual of Omaha producer login link.
What is the Mutual of Omaha address for claims?
Mutual of Omaha claims address: 3300 Mutual of Omaha Plaza, Omaha, NE 68175
MUTUAL OF OMAHA LIFE INSURANCE PRODUCTS
What are the different life insurance products offered by Mutual of Omaha?
- Mutual of Omaha Accidental Insurance
- Mutual of Omaha Children’s Life Insurance
- Mutual of Omaha Guaranteed Issue Life Insurance
- Mutual of Omaha Guaranteed Whole Life
- Income Advantage
- Indexed Universal Life Express
- Life Protection Advantage
- Living Promise Whole Life Insurance
- Mutual of Omaha Term Life Insurance (Mutual of Omaha Term Life Express)
How old do you have to be to apply for Mutual of Omaha insurance coverage?
You must be 45-85 years old to qualify for Mutual Of Omaha insurance.
Can you get first-day coverage with Mutual of Omaha?
Yes, their level death benefit comes with first-day coverage.
What is Living Promise Insurance?
The Living Promise is Mutual of Omaha’s burial insurance for seniors.
What are the pros and cons of Mutual of Omaha life insurance?
Pros:
- First-day coverage – The Living Promise level benefit plan comes with first-day coverage and no waiting period.
- Competitive pricing – their level benefit plan has low pricing.
- Accelerated death benefit rider – available with level benefit plan.
- Application process – In-person or digital online application completed by a licensed agent.
Cons:
- Easily confused with Mutual of Omaha’s other company, United of Omaha, which has a mandatory 2-year waiting period.
- Has build chart – You may not qualify if you are on the heavy side (obese or morbidly obese).
- Waiting period – The graded benefit plan comes with a 2-year waiting period.
- Not all health issues qualify – significant medical conditions can be denied even with the graded plan.
How much life insurance can you get with Mutual of Omaha life insurance?
You can buy $2,000 to $40,000 coverage.
What does Mutual of Omaha life insurance cost?
The cost of Mutual of Omaha life insurance for seniors varies by age, gender, state, tobacco use, and face amount. Get accurate Mutual Of Omaha life insurance costs from the Mutual of Omaha whole life insurance calculator.
Where can I get Mutual of Omaha insurance pricing?
Check out the Mutual of Omaha rates here:
| FEMALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $13.75 | $24.31 | $34.86 | $45.41 | $55.96 |
| 55 | $15.45 | $27.71 | $39.96 | $52.21 | $64.46 |
| 60 | $18.04 | $32.87 | $47.70 | $62.53 | $77.36 |
| 65 | $22.11 | $41.01 | $59.91 | $78.82 | $97.72 |
| 70 | $28.22 | $53.24 | $78.26 | $103.28 | $128.29 |
| 75 | $37.81 | $72.41 | $107.01 | $141.62 | $176.22 |
| 80 | $50.82 | $98.43 | $146.05 | $193.66 | $241.28 |
| MALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $16.94 | $30.68 | $44.42 | $58.15 | $71.89 |
| 55 | $19.58 | $35.95 | $52.32 | $68.69 | $85.06 |
| 60 | $23.48 | $43.76 | $64.04 | $84.32 | $104.60 |
| 65 | $29.84 | $56.48 | $83.12 | $109.75 | $136.39 |
| 70 | $38.91 | $74.61 | $110.31 | $146.01 | $181.72 |
| 75 | $51.59 | $99.97 | $148.36 | $196.74 | $245.13 |
| 80 | $71.47 | $139.73 | $207.99 | $276.26 | $344.52 |
Is Mutual of Omaha insurance expensive?
Mutual of Omaha has competitive burial insurance rates compared with other life insurance companies.
MUTUAL OF OMAHA LIFE INSURANCE ELIGIBILITY
Do you need a medical exam to qualify for Mutual of Omaha life insurance?
No, you don’t need a medical exam to qualify for coverage.
Does Mutual of Omaha ask health questions?
Yes, Mutual of Omaha asks health questions to qualify for a first-day coverage plan.
MUTUAL OF OMAHA LIFE INSURANCE WAITING PERIOD
Does Mutual of Omaha have a waiting period?
The Living Promise with level death benefit does not have a waiting period. However, the Living Promise with graded death benefit has a two-year waiting period.
What does the waiting period mean?
A waiting period means that Mutual of Omaha will not pay the beneficiary the full death benefit amount if the policyholder dies from natural causes during the two-year waiting period.
MUTUAL OF OMAHA LIFE INSURANCE BENEFITS
Does Mutual of Omaha life insurance accumulate cash value?
Yes, Mutual of Omaha’s whole life insurance policies accumulates cash value. Mutual of Omaha life insurance cash value can be borrowed for any purpose.
What other benefits does Mutual of Omaha offers?
The Living Promise level plan has an accelerated death benefit ride for terminal illness or nursing home confinement.
MUTUAL OF OMAHA LIFE INSURANCE LENGTH OF COVERAGE
Does Mutual of Omaha life insurance expire?
No, Mutual of Omaha Living Promise is whole life insurance that never expires.
MUTUAL OF OMAHA LIFE INSURANCE POLICY REPLACEMENT
How can I find a replacement for my Mutual of Omaha insurance policy?
You can find a replacement for your MOO policy by working with an independent life insurance agent who can price shop for you and recommend the best insurance policy at the best price.
Ensure your MOO policy is still active while looking for a replacement policy. When your replacement policy is active, you can cancel your Mutual of Omaha insurance by calling the customer service hotline.
How do I cancel my Mutual of Omaha life insurance policy?
You can cancel your Mutual of Omaha senior life insurance by calling the customer service hotline at (800) 775-6000. You will need to speak with a representative, provide your personal information and policy number, and request they cancel your plan. You will receive a confirmation email about the cancellation afterward.
2 Comments
Sidra
I like how your article explained this. Thank you!
Funeral Funds
Sidra – We are happy this was helpful for you!