Mutual of Omaha Burial Insurance Review

Find the Cheapest Insurance Quotes in your Area

Mutual of Omaha will forever be linked as the primary sponsor of Mutual of Omaha’s Wild Kingdom with Marlon Perkins (for those who can remember.)  The show ran for 25-years before transitioning online, where it still exists as Mutual of Omaha’s Wild Kingdom Web Series.

But, Mutual of Omaha was already well established as one of the best  life insurance companies long before it came into millions of American homes every week on the TV.

Mutual of Omaha was chartered in 1909 and the Nebraska-based company offers a strong line of individual and group, life, health and accident insurance products.  They have multiple subsidiary companies that cover their vast line of insurance products.

  • United of Omaha Life Insurance Company offers a diversified portfolio of life insurance, fixed annuities, Medicare supplement and other insurance and financial services products through Mutual of Omaha’s agency sales force, group sales offices and independent agent networks.
  • Companion Life Insurance Company offers a full line of individual and group life insurance plans in New York.
  • United World Life Insurance Company offers Medicare supplement insurance through direct marketing, Mutual of Omaha’s agency sales force and independent agent networks.
  • Omaha Insurance Company was founded in 2006 and offers Medicare supplement insurance through direct marketing, Mutual of Omaha’s agency sales force and independent agent networks.
  • Mutual of Omaha Investor Services, Inc.is the company’s registered broker-dealer and provides mutual funds directly to consumers through Mutual of Omaha’s agency sales force and Retirement Plans division.

Stats

A.M. Best RatingA+
B.B.B. RatingA+
PolicyZip RatingA+
Founded1909
HeadquartersOmaha Nebraska
Number of EmployeesNot Available
Total AssetsNot Available

Find the Cheapest Insurance Quotes in your Area

Mutual of Omaha Life Insurance Company offers many insurance products:

  • Term Life Insurance. Term life coverage is available online up to $100,000, but higher coverage amounts are available when you purchase a policy through an agent.
  • Whole Life Insurance. Whole life policies are generally marketed to cover funeral and other final expenses and max out at $50,000.
  • Universal Life Insurance. Universal life insurance is available in larger amounts.

Mutual of Omaha also offers:

  • Critical Illness
  • Disability
  • Long-term care insurance
  • Medicare supplement plans and annuities.

In 2016, the company introduced a disability insurance policy with a simplified application. No medical exam or information from a doctor is required.

Product base plans, features and riders may not be available in all states and may vary by state. Claims cannot be filed online. Your only option for filing a claim is with the telephone claims service or by visiting a local agent.

Mutual of Omaha Life Insurance Products

Depending on what kind of life insurance you buy, some or all of the following factors will affect the price of your life policy.

  • Current Age. The younger you are, statistically, the longer you’ve probably got left to live. So, a premium payment at a younger age is generally less expensive.
  • Tobacco Use. Tobacco users will pay more because usage puts you at a higher risk for health ailments that can impact the number of years you live.
  • Gender. On average, women live longer than men, which means they generally pay lower rates for life insurance.
  • Health and Pre-Existing Conditions. Healthy individuals or individuals who diligently manage their health situations will pay less because they tend to live longer and therefore are a more favorable life insurance risk.
  • Death Benefit Amount. Like most things with life insurance, the more you purchase the greater the total cost. However, your cost per dollar of coverage may be less when you purchase a higher amount.
  • Term Duration. The longer the policy term duration, the higher the premium payment. This is because the policy premium must consider risks at a greater span of ages. And, statistically, that risk increases with age.

Mutual of Omaha Final Expense Insurance

Whole life insurance policy protects your loved ones from the financial consequences of your death.

You should consider a whole life policy if:

  • You have long-term life insurance needs;
  • You need to cover final expenses such as medical or funeral expenses or credit card debt;
  • You want to leave a legacy for a young person who is important to you, and/or
  • You would like to supplement existing life insurance coverage.

Whole life insurance offers premiums that are guaranteed not to increase and a benefit to be paid to your designated beneficiaries at your death.  Policies may also offer cash value that will grow on a tax-deferred basis.  The cash value can be accessed through loans, as defined in the contract. Any policy loans and loan interest will reduce policy values and benefits.

Mutual of Omaha is one of the best burial insurance companies

You will go through a simplified underwriting process which means that there will be a limited number of health questions that shortens the application process.

You have two coverage choices when buying burial insurance through an agent:

  1. Level Benefit Plan in benefit face amounts ranging from $2,000 to $40,000 ($5,000 to $40,000 in Washington) with policy issue ages ranging from 45 to 85 years old. There is an Accelerated Death Benefit from Terminal Illness or Nursing Home Confinement.
  2. Graded Benefit Plan in benefit face amounts ranging from $2,000 to $20,000 ($5,000 to $40,000 in Washington) with policy issue ages ranging from 45 to 85 years old. This policy contains a graded benefit meaning that for death due to natural causes (any cause other than accidental) during the first two year waiting period the beneficiary will receive all premiums plus 10 percent. After the two years, the full benefit is paid for death due to all causes. Full death benefits will be paid, in all years, if death results from an accidental bodily injury.  This policy is not available in Arkansas, Montana or North Carolina.

Mutual of Omaha Burial Insurance is called Living Promise

Mutual of omaha’s dedicated burial policy is called Living Promise and has both a level, day one death benefit as well as a graded death benefit. The Living promise policy has one of the most competitive monthly premiums compared to the competition.

Burial Insurance Review

Price: mutual of omaha burial insurance policies rank at most affordable nearly 80% of the time.

Health Questions: They are competitive nearly 70% of the time.

Is Mutual of Omaha considered funeral insurance?

Not necessarily, but it depends on how you interpret the words.

Mutual of Omaha provides burial insurance which is life insurance with a death benefit to match the needs of growing funeral costs.

Funeral insurance is usually a pre-paid plan purchased at a specific funeral that locks in the pricing of a service at a specific funeral home.

Mutual of Omaha Accidental Death Insurance

Accidental death insurance provides financial support for your loved ones if you die in a covered accident.  Coverage is guaranteed issue through an easy application process if you qualify based on your current age.

You should consider an accidental death insurance policy if:

  • You need to supplement existing life insurance coverage.
  • You want to help provide for family should you die in an accident.
  • You would like to provide financial protection for your family, but your health or occupation doesn’t allow you to qualify for other forms of insurance.
  • You want to protect your loved ones without being subject to medical exams.

The average time for policy ownership is less than one week.

You can buy a policy either online or with the help of an agent.

Buy Accident Insurance Online

Policy issue ages are between 18 and 70 years old.  Guaranteed to be renewed up to age 80.  Benefit amounts are up to $1 million and family coverage is available.

Accidental death insurance covers death sustained from any covered injury which is the direct result of an accident or trauma that occurs while your policy is in force, work-related or non-work related.

This coverage pays up to $1,000,000 if death results from a covered accident while riding as a fare-paying passenger on a common carrier such as a boat, bus or airplane.

The auto pedestrian benefit pays up to $300,000 if the insured is killed while driving or riding in a private automobile or if struck by an automobile on a public street or highway.

Accidental Death Agent

Policy issue ages are between 18 and 70 years old.  Guaranteed to be renewed up to age 80.  Benefit amounts are $50 to $500,000 and family coverage is available.

Accidental death insurance covers death sustained from any covered injury which is the direct result of an accident or trauma that occurs while your policy is in force, work-related or non-work related.

This coverage pays double the death benefit if death results from a covered accident while riding as a fare-paying passenger on a common carrier such as a boat, bus or airplane.

The auto Pedestrian benefit pays an additional 25 percent of the death benefit if the insured is killed while driving or riding in a private automobile or if struck by an automobile on a public street or highway.

Mutual of Omaha Contact Information

Mutual of Omaha Mailing Address

Mutual of Omaha Insurance Company

3300 Mutual of Omaha Plaza

Omaha, NE   68175

Mutual of Omaha Phone Number

(800) 228-7104

Monday – Thursday 7 a.m. to 5:30 p.m. CST

Friday 7 a.m. to 5 p.m. CST

If you have specific questions, you can go to a more detailed phone number directory here.

Email Mutual of Omaha Customer Support

To send an email to Mutual of Omaha suppport, go here.

Mutual of Omaha Forms

For access to a list of forms you might need to use, go here.