Mutual of Omaha Life Insurance Review (2026)
Mutual of Omaha is a financially strong, AM Best A+ rated insurer whose Living Promise final expense policy typically offers the lowest simplified-issue premiums available, with full coverage from day one for qualifying applicants. Whether it is the best value depends on your health and how its rates compare, which Asurgo can check across 25+ carriers.
The Short Answer
Is Mutual of Omaha Life Insurance Worth It?
For most healthy seniors shopping for final expense or burial insurance, Mutual of Omaha is one of the strongest options available. The company holds an AM Best A+ (Superior) financial strength rating, the highest among major final expense carriers. Its flagship product, Living Promise, consistently offers the lowest simplified-issue premiums we see across all the carriers we quote, and the Level benefit pays the full death benefit from day one with no waiting period.
Here is the honest part most reviews skip. Mutual of Omaha asks the strictest health questions of any carrier we represent. If you qualify, you are almost certainly getting the best rate available, so take it. If you do not qualify, that is not a dead end. It means a different carrier with more lenient underwriting is a better fit, and we carry 25+ others for exactly that reason. Asurgo places Living Promise policies regularly, so this review draws on real underwriting experience, not a press release.
One thing that sets Mutual of Omaha apart from competitors like Colonial Penn or Globe Life is that Living Promise is simplified issue, not guaranteed issue. That means it asks health questions and can decline applicants. The payoff for answering those questions is a significantly lower premium and full day-one coverage for those who qualify. Colonial Penn's guaranteed-issue product, by comparison, costs more and includes a mandatory two-year waiting period for all applicants regardless of health. If you can answer health questions, simplified issue is almost always the better deal.
The bottom line: Mutual of Omaha life insurance is worth it for the right person. Below we get specific about who that person is, how the product works, what it costs, and how it compares to four other carriers we also represent.
The strongest financial backing and lowest simplified-issue rates in the final expense market, with day-one full coverage for qualifying applicants. The strict health questions keep it from a perfect score: many seniors who need coverage the most will not qualify for Level and should compare other carriers.
At a Glance
Mutual of Omaha at a Glance
| Detail | Info |
|---|---|
| Company | Mutual of Omaha Insurance Company (mutual company, policyholder-owned) |
| AM Best Rating | A+ (Superior), the strongest among major final expense carriers |
| NAIC Complaint Index | Below the 1.0 national median in recent years (look up current data at NAIC) |
| BBB Customer Rating | A+ accredited business; customer review average approximately 1.21/5, most complaints relate to Medicare Supplement, not Living Promise |
| Final Expense Product | Living Promise (Level Benefit + Graded Benefit, both simplified issue) |
| Coverage Amounts | $2,000 to $40,000 (Level); $2,000 to $20,000 (Graded) |
| Age Eligibility | Level 45 to 85, Graded 45 to 80 |
| Waiting Period | None (Level) / 2 years (Graded) |
| Health Questions | Yes, 5 to 7 yes/no (both Level and Graded); no guaranteed-issue option |
| Medical Exam | No |
| Monthly Cost Example | $33/mo for $10K at age 60 female (SI Level, non-tobacco) |
Mutual of Omaha is a mutual company, meaning it is owned by its policyholders rather than shareholders on a stock exchange. It has been in business since 1909 and exists to serve the people who hold its policies. The AM Best A+ (Superior) financial strength rating reflects its ability to pay claims and is the strongest rating among the major final expense carriers. Living Promise is one of the most commonly placed final expense products in the country, and Asurgo places these policies regularly.
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The Product
Mutual of Omaha Whole Life & Burial Insurance
Mutual of Omaha's primary final expense offering is Living Promise, a simplified-issue whole life policy for ages 45 to 85 that provides $2,000 to $40,000 in coverage with no medical exam and premiums that never increase. It is issued by United of Omaha Life Insurance Company, a subsidiary of Mutual of Omaha. Because it is whole life, the death benefit never decreases and the policy builds a small cash value over time. Coverage does not expire at a certain age.
Living Promise has two benefit tiers. Both tiers are simplified issue, meaning they ask the same health questions and can decline applicants. Your answers decide which tier you land in:
- Level Benefit: Full death benefit payable from day one, no waiting period. This is the lowest-cost simplified-issue option and is for applicants whose health clears the underwriting questions.
- Graded Benefit: A two-year limited-benefit period applies for non-accidental death. After two years, the full benefit is payable regardless of cause. This tier is for applicants with certain health conditions that do not qualify for Level.
We break down the full mechanics of each tier, the coverage build chart, and rates by age in our dedicated Mutual of Omaha Living Promise guide.
What Living Promise Costs
At age 60, a female non-smoker pays $33/month and a male non-smoker pays $43/month for $10,000 of Living Promise Level coverage. At age 70, those rates rise to $53 and $74 respectively (see our full life insurance for a 70-year-old rate guide). At age 80, a female pays $98/month and a male pays $139/month. Graded premiums run higher at every age because the carrier takes on more risk during the two-year benefit period. All premiums are locked in for life and never increase once the policy is issued. For the full rate breakdown by age, gender, and benefit tier, see our Living Promise rate table.
The Health Questions
The health questions are the trade-off. Mutual of Omaha asks the strictest questions of any carrier we represent. Conditions like congestive heart failure, active cancer, dialysis, and stroke within two years typically result in a decline. Conditions like atrial fibrillation, COPD, or diabetic complications often move an applicant to Graded rather than a decline. We will not list the carrier's proprietary questions word for word, but it helps to know the kinds of conditions that typically affect qualification so you can have an informed conversation with your agent.
If your health does not fit either tier, that is where an independent broker adds value. Asurgo carries carriers with more lenient underwriting, such as Aetna/Accendo, Transamerica, and AIG. Our guides on life insurance for diabetics, life insurance with COPD, and life insurance with heart disease explain how underwriting works for specific conditions.
To estimate how much coverage your family needs, use our burial cost calculator.
Term Life Express (No-Exam Term Life)
Beyond final expense, Mutual of Omaha offers Term Life Express, a simplified-issue term life product for ages 18 to 75. Like Living Promise, it skips the medical exam and uses health questions instead. Coverage ranges from $25,000 to $550,000 with terms of 10, 15, 20, or 30 years. Asurgo writes Term Life Express directly. For the full breakdown of coverage amounts, term lengths, approval speed, and how Express compares to the fully underwritten Term Life Answers, see our Mutual of Omaha Term Life Express review.
The Comparison No One Publishes
How Mutual of Omaha Compares to Other Final-Expense Carriers
Mutual of Omaha Living Promise Level is the cheapest simplified-issue final expense product at every age for applicants who qualify. The catch is who qualifies. The table below compares $10,000 of coverage across five carriers Asurgo represents. All five are simplified-issue final expense products with no medical exam. Mutual of Omaha (Living Promise), Aflac, and Aetna/Accendo all offer day-one full coverage for qualifying applicants. AIG offers both simplified-issue and guaranteed-issue options. Transamerica (Immediate Solution) also pays from day one.
$10,000 Policy, Monthly Rate Comparison (Female Non-Smoker, Simplified Issue Level)
| Age | Mutual of Omaha | Aflac | Aetna/Accendo | AIG | Transamerica |
|---|---|---|---|---|---|
| 50 | $24 | $26 | $27 | $27 | $33 |
| 60 | $33 | $43 | $41 | $36 | $41 |
| 70 | $53 | $56 | $58 | $58 | $65 |
| 80 | $98 | $116 | $101 | $107 | $134 |
What the Comparison Shows
A few things stand out when you line these carriers up:
- Mutual of Omaha is the cheapest at every age for applicants who qualify for its simplified issue. At age 60, it is $33/month compared to $36 to $43 from the other four carriers.
- The critical variable is who qualifies. Mutual of Omaha's health questions are the strictest of all five carriers here. The lowest premium only matters if you can get it.
- Aetna/Accendo and AIG are close in price and have more lenient underwriting. If Mutual of Omaha declines you, these carriers often accept the same applicant at a competitive rate.
- Transamerica is the most expensive in this comparison, but it accepts conditions that the other carriers on this list decline. It fills a real gap for harder-to-insure applicants.
This is the value of an independent broker. We start with Mutual of Omaha because it offers the best rate. If its underwriting does not fit your health profile, we move to the next best option in the same appointment, with no extra work and no additional cost. The cheapest rate for you depends on your health, not just your age.
Keep in mind that these are simplified-issue Level rates only. Every carrier except AIG also offers a Graded or modified tier for applicants who do not qualify for full Level coverage, and the Graded rate is higher than the Level rate at every age. The gap between carriers narrows at older ages but never fully closes. If you are shopping at 70 or older, it is especially important to compare all five rather than assuming one will be cheapest. We run this comparison for you at no cost during a quote call. Our life insurance after 70 guide walks through what coverage looks like at each age.
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The Fit Test
Mutual of Omaha for Seniors
Mutual of Omaha is strongest for seniors aged 45 to 85 in average or better health who want the lowest possible premium and the highest-rated carrier behind their policy. If you qualify for Living Promise Level, you get day-one full coverage at the cheapest rate in the market, locked in for life. For most healthy seniors, that is a combination no other carrier matches.
The question is not whether Mutual of Omaha is a good company. It is whether it is the best fit for your specific health profile. Here is a fair accounting of the pros and cons.
Pros
- Lowest SI rates in the market. If you qualify, Living Promise Level is typically the cheapest simplified-issue final expense policy available.
- AM Best A+ (Superior). The strongest financial strength rating among major final expense carriers.
- Day-one full coverage. Level benefit pays the full death benefit from day one, no waiting period.
- Coverage up to $40,000. Higher than most final expense carriers.
- Policyholder-owned mutual company. Not publicly traded; exists to serve policyholders.
- Fixed premiums. Rate is locked in for life and never increases.
Cons
- Strictest underwriting in final expense. Health questions are more restrictive than Aetna, Transamerica, AIG, or Aflac.
- No guaranteed-issue option. Both tiers ask health questions and can decline applicants. Seniors who cannot answer health questions need a true guaranteed-issue carrier.
- Must apply through an agent. Cannot buy directly online; requires a phone call with a licensed agent.
- BBB customer rating is low (~1.21/5). Most complaints relate to Medicare Supplement, not Living Promise.
- Not available in every state. Living Promise is offered in most states but not New York.
Best Fit
- Healthy seniors aged 45 to 85 with no major uncontrolled conditions. You will likely get the lowest rate in the market.
- Seniors with managed conditions (controlled blood pressure, Type 2 diabetes on oral medication, cancer in remission three or more years) who can pass the health questions.
- Seniors who prioritize the lowest possible monthly premium above all else.
- Seniors who want the strongest financial backing behind their policy.
Who Should Consider a Different Carrier
- Seniors with complex health histories (insulin-dependent diabetes with complications, active cancer, COPD requiring oxygen, dialysis, or a recent stroke within two years) should compare carriers with more lenient underwriting like Aetna or Transamerica.
- Seniors who cannot answer health questions at all need a true guaranteed-issue product.
- Seniors managing several conditions at once, where our guide on life insurance with pre-existing conditions explains how coverage usually works.
Being declined by Mutual of Omaha does not mean you cannot get coverage. It means a different carrier is a better fit for your health profile. An independent broker like Asurgo can typically find coverage with a different carrier the same day. The premium may be slightly higher than Mutual of Omaha's Level rate, but you still get whole life coverage with a locked-in premium and a guaranteed death benefit.
If you are weighing your options, our guide to the best burial insurance for seniors compares the leading carriers side by side. You can also explore how specific conditions affect coverage in our guides on diabetes, COPD, and heart disease.
Complaints & Financial Strength
Mutual of Omaha Financial Strength & Complaints
Mutual of Omaha's financial standing is strong. The company has been in business since 1909, is policyholder-owned (not publicly traded), and carries an AM Best A+ (Superior) rating. As a mutual company, it exists to serve its policyholders rather than shareholders, which aligns its financial incentives with the people it insures. Its claims-paying ability is not in question. You can verify its current rating directly at AM Best.
For context, AM Best rates insurance companies on a scale from A++ (highest) to D (in liquidation). An A+ rating means "Superior" financial strength and a very strong ability to meet ongoing obligations to policyholders. Among the carriers we represent in the final expense market, Mutual of Omaha's A+ is the highest financial rating. That matters for whole life insurance, where the carrier must honor a policy that may not pay a claim for 20 or 30 years.
AM Best: A+ (Superior)
The strongest financial strength rating among major final expense carriers. This reflects Mutual of Omaha's financial resources and track record of paying claims.
NAIC Complaint Index
Mutual of Omaha's life complaint index has run below the 1.0 national median in recent years, meaning fewer complaints than expected for a company its size. You can look up any carrier's complaint history through the NAIC Consumer Insurance Search.
BBB Customer Rating: ~1.21/5
Mutual of Omaha is a BBB-accredited business with an A+ business rating, but its customer review average sits at roughly 1.21 out of 5. The context matters: Mutual of Omaha is a large, diversified company selling Medicare Supplement, Medicare Advantage, long-term care, dental, disability, annuities, and life insurance. The large majority of its BBB complaints relate to Medicare Supplement claims processing, not Living Promise final expense policies. We have not personally experienced claim issues on the Living Promise policies we have placed.
The Bottom Line
The Verdict
Mutual of Omaha earns a 4.0 out of 5 from Asurgo. It is the carrier we most commonly recommend as a starting point for final expense coverage, and for good reason: the combination of the lowest simplified-issue rates, an A+ financial strength rating, day-one full coverage, and up to $40,000 in face value is genuinely strong.
The reason it does not score higher is the underwriting. Living Promise asks the strictest health questions in the final expense market. Many seniors who need coverage the most will not qualify for Level and may not qualify at all. That is not a flaw in the product, it is a trade-off: strict questions are the reason the rates are so low. But it means Mutual of Omaha is not a universal answer.
For healthy seniors, Living Promise is usually the best value available. For seniors with more complex health profiles, the value of an independent broker is finding which carrier's underwriting actually fits. Asurgo starts with Mutual of Omaha and moves to the next best option if needed, in the same call, at no extra cost.
For a deeper look at the Level vs. Graded benefit, full rates by age and gender, and the coverage build chart, read our dedicated Living Promise guide.
Common Questions
Frequently Asked Questions
Is Mutual of Omaha life insurance worth it?
For most healthy seniors, yes. Living Promise Level typically offers the lowest simplified-issue final expense premiums in the market, backed by an AM Best A+ rating and day-one full coverage. The trade-off is stricter health questions than other carriers. If you qualify, it is usually the best value available. If you do not, another carrier with more lenient underwriting may be a better fit.
Does Mutual of Omaha have a waiting period on burial or whole life insurance?
Living Promise Level has no waiting period. The full death benefit is payable from day one. Living Promise Graded has a two-year graded benefit period: if the policyholder passes from non-accidental causes within the first two years, beneficiaries receive all premiums paid plus interest rather than the full face amount. Accidental death is covered from day one on both tiers.
What is the difference between Mutual of Omaha and United of Omaha?
United of Omaha Life Insurance Company is the subsidiary of Mutual of Omaha that actually underwrites many of its individual life products, including Living Promise. They are the same parent organization. When you buy a Mutual of Omaha life insurance policy, United of Omaha is typically the issuing company named on your policy documents.
What is the maximum coverage for Mutual of Omaha whole life insurance?
Living Promise offers coverage from $2,000 to $40,000 for the Level benefit tier. The Graded benefit tier caps at $20,000. This is higher than many competitors. For most families, $10,000 to $25,000 covers funeral and burial costs. Use our burial cost calculator to estimate how much coverage you actually need.
Does Mutual of Omaha require a medical exam?
No. Living Promise requires no medical exam, no blood work, and no doctor visit. It is simplified issue, meaning you answer a set of yes-or-no health questions over the phone. Your answers determine whether you receive the Level or Graded benefit tier. Applications are typically completed in a single call with a licensed agent.
Related Pages
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Asurgo is an appointed Mutual of Omaha agent and an independent brokerage that compares 25+ carriers. If you qualify for Living Promise, you are getting the best rate in the final expense market from a carrier with an AM Best A+ rating and over a century of claims-paying history. If it is not the right fit, we find the carrier that is, on the same call, at no extra cost. We are compensated by carriers including Mutual of Omaha via commission at policy issue, and this does not change your premium.
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Nicholas Norminton, Licensed Insurance Specialist
Nicholas is a nationally licensed insurance specialist who has personally helped thousands of clients secure life insurance coverage. He built Asurgo into a trusted, tech-forward brokerage serving clients in all 50 states with access to 25+ carriers. He places Mutual of Omaha Living Promise policies regularly and reviews carrier products based on firsthand underwriting experience.
Sources
NAIC Consumer Insurance Search (complaint index data) · AM Best (financial strength rating). Mutual of Omaha Living Promise rate figures are from current Asurgo carrier illustrations, 2026.