Mutual of Omaha Living Promise: Level vs. Graded Benefit (2026)
Mutual of Omaha Living Promise is a final expense whole life policy with no medical exam (health questions only). It comes in two versions: Level (better health, full death benefit from day one) and Graded (higher-risk applicants, limited payout in the first two policy years). Coverage ranges from $2,000 to $40,000 for ages 45 to 85.
The Product
What Is Mutual of Omaha Living Promise?
Living Promise is Mutual of Omaha's final expense whole life insurance product, issued by United of Omaha Life Insurance Company (a Mutual of Omaha subsidiary). It is designed to cover funeral, burial, and end-of-life costs for seniors aged 45 to 85.
There is no medical exam. Instead, applicants answer 5 to 7 yes-or-no health questions over the phone, and the answers determine which benefit tier you receive. Living Promise is not guaranteed issue: both tiers require health questions, and applicants can be declined.
Because it is whole life insurance, premiums are level (they never increase), the death benefit never decreases, and the policy builds a small cash value over time. Coverage does not expire at a certain age, which is the key difference between a true final expense whole life plan and a term policy that terminates at 80 or 90.
For the full company review, including financial strength, complaint data, and a five-carrier rate comparison, see our Mutual of Omaha Life Insurance Review.
The Core Decision
Level Benefit vs. Graded Benefit
Level Benefit pays the full death benefit from day one. Graded Benefit limits the payout during the first two policy years. Both tiers ask the same health questions, and your answers decide which one you receive. Neither tier is guaranteed issue.
Level Benefit
The Level benefit is for applicants in better health who answer "no" to all the underwriting questions. It provides the full death benefit from day one with no waiting period. This is Mutual of Omaha's primary competitive advantage: the strictest questions produce the lowest premiums for the people who pass them.
- Full death benefit payable from day one, including non-accidental causes
- No medical exam, no blood work, no doctor visit
- Lowest simplified-issue premiums in the final expense market for qualifying applicants
- Coverage from $2,000 to $40,000
- Available for ages 45 to 85
- Premiums are locked in for life and never increase
Graded Benefit
The Graded benefit is for applicants whose health answers trigger certain conditions (such as atrial fibrillation, COPD, cardiomyopathy, or diabetic complications) that do not qualify for Level but do not result in a full decline. A two-year graded benefit period applies.
- Two-year graded benefit period: if the policyholder passes from non-accidental causes within the first two years, beneficiaries receive a return of all premiums paid plus 10% interest, not the full death benefit
- Accidental death is covered in full from day one
- After two years, the full death benefit is paid regardless of cause of death
- Premiums are higher than Level because the carrier takes on more risk
- Coverage from $2,000 to $20,000 (lower cap than Level)
- Available for ages 45 to 80 (tighter range than Level)
Which Tier Will I Get?
Both tiers use the same health questions. Your answers determine the result. We will not list the carrier's proprietary questions word for word, but the kinds of conditions that commonly affect placement include:
- Typically Level: Managed high blood pressure, Type 2 diabetes on oral medication (without complications), cancer in remission three or more years, controlled depression or anxiety
- Typically Graded: Atrial fibrillation, COPD or emphysema, cardiomyopathy, diabetic complications (nephropathy, retinopathy), bipolar disorder, recent cardiac event within 24 months
- Typically Declined: Congestive heart failure, active cancer or treatment within 24 months, stroke within 24 months, dialysis, ALS, multiple sclerosis, organ transplant
If Living Promise declines you, that is not a dead end. Carriers like Aetna/Accendo, Transamerica, and AIG have more lenient underwriting and may accept the same applicant. Our guides on life insurance for diabetics and life insurance with COPD explain how underwriting works for specific conditions.
Verified 2026 Rates
Living Promise Rates by Age
Living Promise premiums depend on age, gender, tobacco use, benefit tier, and coverage amount. The tables below show verified 2026 monthly rates for $10,000 of coverage (non-tobacco) for both the Level and Graded benefit tiers. These rates are from current Asurgo carrier illustrations.
Level Benefit: $10,000 Coverage (Non-Tobacco, Monthly)
| Age | Female | Male |
|---|---|---|
| 50 | $24/mo | $31/mo |
| 55 | $28/mo | $36/mo |
| 60 | $33/mo | $43/mo |
| 65 | $41/mo | $56/mo |
| 70 | $53/mo | $74/mo |
| 75 | $72/mo | $100/mo |
| 80 | $98/mo | $139/mo |
Graded Benefit: $10,000 Coverage (Monthly)
| Age | Female | Male |
|---|---|---|
| 50 | $30/mo | $40/mo |
| 55 | $37/mo | $45/mo |
| 60 | $43/mo | $57/mo |
| 65 | $50/mo | $68/mo |
| 70 | $64/mo | $87/mo |
| 75 | $88/mo | $113/mo |
| 80 | $126/mo | $157/mo |
What the Rates Show
Graded premiums are higher at every age because the carrier takes on more risk during the two-year benefit period. At age 65, a non-tobacco female pays $41/month for Level vs. $50/month for Graded. At age 75, the gap widens: $72 vs. $88 for females, $100 vs. $113 for males.
All premiums are fixed for life once the policy is issued. Your rate never increases regardless of age or health changes after the policy starts. To estimate how much coverage your family needs, use our burial cost calculator.
Get your exact Living Promise rate
Asurgo is an appointed Mutual of Omaha agent and compares 25+ carriers. Free quote, no obligation.
The Waiting Period
Is There a Waiting Period on Living Promise?
The Level benefit has no waiting period. The full death benefit is payable from day one, regardless of cause. This is the core advantage of qualifying for the Level tier.
The Graded benefit has a two-year limited-payout period. Here is exactly how it works:
- Year 1 and Year 2 (non-accidental death): Beneficiaries receive a return of all premiums the policyholder paid, plus 10% interest. The full face amount is not payable.
- Year 1 and Year 2 (accidental death): The full death benefit is payable from day one, even on the Graded tier.
- After Year 2: The full death benefit is payable regardless of cause of death. The graded period is over, and the policy functions exactly like the Level benefit from that point forward.
The two-year period resets if the policy lapses and is later reinstated. As long as premiums are paid continuously, the clock runs from the original policy issue date.
If the graded waiting period is a concern and you want day-one full coverage, the first step is applying for the Level benefit. Most healthy seniors qualify. If the health questions place you in Graded, our burial insurance with no waiting period guide covers other day-one options from carriers we also represent.
Not sure which tier you qualify for?
We check Mutual of Omaha first, then find the best fit for your health profile if needed.
Common Questions
Frequently Asked Questions
What is the difference between Level Benefit and Graded Benefit?
Both tiers use the same health questions. Level Benefit means your full death benefit is payable from day one with no waiting period. Graded Benefit applies when certain health conditions place you in the higher-risk tier, and it has a two-year limited-payout period before the full benefit kicks in. Level premiums are lower because those applicants present less risk to the carrier.
How much does Living Promise cost?
Living Promise premiums depend on your age, gender, tobacco use, benefit tier (Level or Graded), and coverage amount. For a 60-year-old non-tobacco female, Level benefit coverage costs $33 per month for $10,000. A 65-year-old female pays $41 per month. Graded benefit premiums are higher at every age. Get your exact rate through Asurgo with a free, no-obligation quote.
Is there a waiting period with Living Promise?
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 10% interest rather than the full face amount. Accidental death is covered in full from day one on both tiers.
Related Pages
Get a Living Promise Quote
Asurgo is an appointed Mutual of Omaha agent and an independent brokerage that compares 25+ carriers. Get a Living Promise quote and see how it stacks up against the rest. Most applicants have coverage in force within 24 hours.
Get a Living Promise Quote Or call (855) 380-9555 · Mon-Fri 8am-8pm, Sat 9am-5pm ET
Nicholas Norminton, Licensed Insurance Specialist
Nicholas is a nationally licensed insurance specialist who has helped thousands of clients secure life insurance coverage. 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). Living Promise rate figures are from current Asurgo carrier illustrations, 2026.