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Mutual of Omaha Life Insurance Company

Mutual of Omaha Life Insurance company
Insurance Quotes 2 Day Team

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

 4 minute read

Mutual of Omaha got its start over a century ago in 1909, and at that time was named Mutual Benefit Health & Accident Association. 

Within 10 years, the company then combined their work with Omaha Health & Accident Association, allowing them to take on more 3,000 clients. 

Over the course of the next 30 years, the insurance provider expanded into nearly all 50 states.

Mutual of Omaha Life Insurance Company

By 1950, the company changed its name to Mutual of Omaha, along with the logo that we still recognize today.  Mutual of Omaha first went live in 1997 on the internet with their brand new website and continued to stay on the cutting edge of technology by offering online applications for both life insurance and Medicare supplements.  To date, Mutual of Omaha and its subsidiaries continue to blaze the trail in terms of technology and insurance innovation.

Mutual of Omaha Ratings and Financial Strength

Presently, Mutual of Omaha has more than 3.5 million clients, nearly $35 million in assets, and a $2.8 billion surplus.  Numbers such as these suggest the company’s stability in the marketplace, the company’s growth, and their future potential.

If Mutual of Omaha’s financial numbers weren’t solid enough, the company has also received excellent ratings from the leading rating agencies.  A.M. Best rates the carrier with an “A+,” Standard & Poor’s rates them with an “AA-,” and Moody’s awarded an “A1” rating.

Mutual of Omaha Life Insurance Products

Selecting Mutual of Omaha as your life insurance carrier provides you access to a vast amount of life insurance products, including Term, Whole, Universal, and Indexed Universal Life, from one of the best life insurance companies.


Term Life Insurance

Mutual of Omaha offers two different term life insurance choices, Term Life Express and  Term Life Answers.  They are vastly different products, so knowing which one is right for you will not be difficult.

Term Life Express is a simplified-issue product and provides coverage ranging from $25,000 up to $300,000.  It has no conversion privileges, but there are no medical exams needed to apply.

Term Life Answers provides death benefits of more than $100,000, but it requires full medical underwriting.  The policy can be purchased with 10, 15, 20, or 30-year term limits and it can be converted into a more permanent form of life insurance.


 

Whole Life Insurance

Mutual of Omaha offers whole life insurance policies, Living Promise Whole Life and Children’s Whole Life.  

Living Promise Whole Life. A simplified issue plan that can be offered with a level or graded benefit.  Since it’s simplified, there will be no medical exam, but there will be medical underwriting.  Living Promise offers policies for ages 45 through 85 in amounts of coverage from $2,000 to $50,000.

Children’s Whole Life insurance policies are available for children ages 14 days to 17 years of age.  This life insurance product is one of the most highly valued and competitive insurance products available for children.  The policy face amount of $5,000 to $50,000 can be applied for. A guaranteed insurability rider can also allow for future face amount increases up to $250,000 without the need for a medical exam.

Mutual of Omaha Life Insurance Company is one of the few providers that offers coverage with no medical exam.


Mutual of Omaha Universal Life Insurance

Mutual of Omaha offers one option for universal life insurance coverage, the AccumUL Answers.  The AccumUL Andwers is a current assumption UL policy that can be customized based on your needs, there are 8 riders that can be added to the policy.  

The AccumUL Answers builds cash value and allows your life insurance the ability to grow.  

Mutual of Omaha Indexed Universal Life Insurance  

There are 3 options for indexed universal life insurance. Depending on your personal needs, one or more of these policies might fit into your financial strategy.

Income Advantage Indexed UL is the flagship product for cash value growth potential and use for future supplemental tax-free income. 

Life Protection Advantage Indexed UL is aimed at providing lifelong guaranteed death benefits without the need for cash value accumulation.  

Indexed Universal Life Express is a simplified issue IUL.  This is a quick way to start your IUL policy without the need for a medical exam.   

 

Other Mutual of Omaha Products

If you’re considering investments, Mutual of Omaha offers variable annuities, mutual funds, and 529 policies that assist you in preparing your child for college.  Additionally, they offer long-term care insurance, Medicare supplements, critical illness insurance, disability insurance, and much more.

As with most life insurance providers, Mutual of Omaha Life may not be able to serve every consumer’s needs.  Naturally, you want the best policy for the best price.  Talk with a licensed insurance agent regarding your specific situation and requirements to determine if Mutual of Omaha will be the best choice.

One More Thing…

The Mutual of Omaha companies, including United of Omaha and New York-based Companion, maintain excellent standings within the life insurance community, and it certainly looks like they’re here to stay.

Mutual of Omaha’s Guaranteed option is quite competitive, similar to UHL, Gerber, and a few others, while their Children’s Life option is a popular choice, providing up to $50,000 in permanent death benefit coverage.  Despite their term life option not being the cheapest, it can help to complete your financial portfolio at any point if you’d like to group your policies with one carrier.  With over a century in the life insurance business, a nationwide presence, and numerous lines of coverage, they are easily able to accompany any of their high-performing insurance products.

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Frequently Asked Questions

Is Mutual of Omaha a good company?

If Mutual of Omaha’s financial numbers weren’t solid enough, the company has also received excellent ratings from the leading rating agencies.  A.M. Best rates the carrier with an “A+”, Standard & Poor’s rates them with an “AA-”, and Moody’s awarded an “A1” rating.

What life insurance products does Mutual of Omaha offer?

Mutual of Omaha offers whole life, term and universal life insurance products. It is best to consult with an independent agent to determine which type of policy is best for your needs.

What types of whole life insurance does Mutual of Omaha offer?

Mutual of Omaha offers three different whole life insurance policies, with the latter being for children exclusively.  These policies are known as Whole Life Guaranteed, Whole Life Guaranteed (Direct), Whole Life Express, Children’s Whole Life, and Children’s Whole Life (Direct).

author avatar
Doug Mitchell, CLU Independant Advisor
Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT).  MDRT is a global, independent association of the world's leading life insurance advisors.  For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders and growing the agency through the reach of  insurancequotes2day.com.

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