Mutual of Omaha sells different types of life insurance products. The company emphasizes no-exam options and flexible products.
Mutual of Omaha Life Insurance Review 2026
Mutual of Omaha earned a MoneyGeek Score of 4 out of 5 for life insurance. Average rates for $500,000 in coverage on a 20-year term are $49 per month for women and $60 per month for men.
Here's what you need to know about Mutual of Omaha life insurance
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Updated: April 7, 2026
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At a Glance: Mutual of Omaha Life Insurance Review
Mutual of Omaha
MoneyGeek Rating
4.0/ 5
3.8/5Affordability
4.2/5Customer Experience
4.3/5Coverage Points
Average Monthly Cost
$49 (F); $60 (M)Based on average quotes for a 20-year term policy with $500,000 coverage amount. Standard profile is a 40-year-old nonsmoker with average health.Ages Supported
18-80
Mutual of Omaha Life Insurance Products
Term Life Insurance Options
Term life insurance covers you for a set period, such as 10, 20 or 30 years. If you die during the term, your beneficiary receives the death benefit. Premiums stay level throughout the term. Term life costs less than permanent coverage, but it doesn't build cash value.
Term Life Answers
Covers adults up to age 80 with level premiums for 10-, 15-, 20- or 30-year terms. Coverage can reach $10 million for qualified applicants. Policies include a conversion option to permanent coverage. Available through licensed agents.
Whole Life Insurance Options
Whole life insurance provides permanent coverage that lasts your entire life. Premiums never increase and the policy builds cash value on a tax-deferred basis. Whole life costs more than term but guarantees a death benefit payout whenever you pass away.
Living Promise
Guaranteed issue whole life insurance for applicants ages 45 to 85 (50 to 75 in New York). Coverage ranges from about $2,000 to $25,000, depending on state rules. No medical exam or health questions required. Applications may be completed online or through an agent.
Children's Whole Life
Covers ages 14 days to 17 years with $5,000 to $50,000 in coverage. Requires only three health questions and no medical exam. Premiums lock in at childhood rates and never increase. The policy builds cash value the child can access as an adult for education, a home or other needs.
Universal Life Insurance Options
With universal life insurance, you get permanent coverage along with flexible premiums and death benefits. The policy builds cash value that grows based on interest crediting. You can adjust payments and coverage as your needs change.
AccumUL Answers
Fixed universal life with a declared interest rate guaranteed to earn at least 2% annually. Flexible premiums and death benefits. This policy includes accelerated death benefits.
Indexed Universal Life Insurance Options
Indexed universal life insurance ties cash value growth to a market index like the S&P 500. Your money isn't directly invested in the market, so you get downside protection with a guaranteed floor. These policies offer greater growth potential than fixed universal life while limiting risk.
Life Protection Advantage
Death benefit guaranteed through age 90. Cash value grows through market-linked crediting with downside protection. Includes accelerated death benefits for terminal or chronic illness.
Income Advantage
Emphasizes cash accumulation for retirement income. Market-linked interest crediting with guaranteed 0% floor. Flexible premiums and death benefits with accelerated death benefits included.
Accidental Death Insurance
Accidental death insurance pays a benefit only if you die from a covered accident. Premiums cost less than traditional life insurance because coverage excludes deaths from illness or natural causes. This coverage works as a supplement to other life insurance.
Mutual of Omaha's accidental death insurance covers ages 18 to 70 with up to $1 million in benefits. Guaranteed approval is based on age. Renewal is available until age 80. Common carrier benefit pays up to $1 million.
Mutual of Omaha Life's Insurance Riders
Life insurance riders add benefits to your base policy. Availability varies by policy type and state.
Accelerated Death Benefit | Access death benefit early with terminal illness diagnosis |
Child Term Rider | Adds term coverage for your children |
Waiver of Premium | Suspends premiums if you become disabled |
Accidental Death Benefit | Pays additional benefit for accidental death |
Guaranteed Insurability | Buy more coverage later without medical exam |
How Much Is a Mutual of Omaha Life Insurance Policy?
Life insurance premiums depend on your age, health, coverage amount and policy length. Younger applicants pay less because they're statistically less likely to die during the policy term. Smokers pay more than nonsmokers for equivalent coverage. Your actual premium may differ based on underwriting results.
Data filtered by:
20
40
Female
No
| $100,000 | $18 | $215 |
| $250,000 | $32 | $382 |
| $500,000 | $49 | $591 |
| $750,000 | $70 | $834 |
| $1,000,000 | $89 | $1,066 |
| $2,000,000 | $173 | $2,076 |
| $3,000,000 | $256 | $3,068 |
| $5,000,000 | $422 | $5,070 |
| $10,000,000 | $835 | $10,024 |
These rates reflect average term life quotes from MoneyGeek's 2026 survey for applicants with average weight and health ratings. Your actual premiums may be higher or lower based on your health, lifestyle and other underwriting factors.
How to Get Mutual of Omaha Life Insurance
Mutual of Omaha sells life insurance online and by phone, depending on the product. Whole life and children's whole life allow online applications. Term and universal life require calling an agent.
- 1Choose your product type
The right policy depends on your budget, how long you need coverage and whether cash value matters. Term life costs less and works for temporary needs. Whole and universal life provide coverage that lasts your entire lifetime.
- 2Calculate your coverage amount
Add your debts, income replacement needs and future expenses such as college tuition. Most financial experts recommend coverage worth 10 to 12 times your annual income. Use our life insurance calculator to estimate your coverage.
- 3Get a quote
Apply online at mutualofomaha.com for whole life or children’s policies in about five minutes. For term and universal life, call 877-202-2676 to speak with an agent and request a quote.
- 4Complete your application
Whole life applications involve basic questions and don't require a health exam. Term and universal life require a phone application with an agent and may include medical underwriting.
- 5Review your policy
Check your coverage amounts, beneficiaries, premium schedule and any riders you selected. Contact your agent if anything is unclear since changes are easier before the policy is issued.
- 6Pay your first premium
Coverage begins once your payment is processed. Set up autopay through your bank or Mutual of Omaha’s portal to avoid missed payments and possible lapses.
Mutual of Omaha Life Claims Process
Beneficiaries start the claims process by contacting Mutual of Omaha to report the death and request the necessary forms. The company requires a certified death certificate, the policy number and completed claim paperwork.
Once submitted, Mutual of Omaha pays approved claims by check or electronic transfer. How quickly beneficiaries receive payment depends on how complete the documentation is, the complexity of the case and the policy details.
Mutual of Omaha vs. Other Life Insurance Companies
Mutual of Omaha is one of MoneyGeek's top picks for best life insurance for children, offering guaranteed-issue whole life for applicants as young as 14 days old with no medical exam and coverage up to $50,000. Premiums lock in at childhood rates permanently, a clear advantage for parents seeking early coverage for dependents.
If you're shopping for term life insurance, Mutual of Omaha earns recognition as one of the best term life insurance companies, mainly due to its first-place J.D. Power ranking, low NAIC complaint index of 0.51 and overall customer experience score.
It also offers the best customer experience for people buying life insurance for college students. Term coverage extends to age 80 with conversion privileges, which gives younger policyholders flexibility.
But Mutual of Omaha doesn't offer traditional whole life insurance, which won't work well if you want long-term cash accumulation or estate planning. Shoppers prioritizing that product type should review whole life insurance companies that specialize in permanent coverage, such as USAA, Gerber Life and Protective.
Comparing across providers is the most reliable way to find the right fit, and our best life insurance guide covers the full landscape. If your priority is affordability, start with the cheapest life insurance companies.
Is Mutual of Omaha Right for You?
Our Mutual of Omaha life insurance review shows that the company works well for buyers who need guaranteed-issue whole life coverage without medical exams. It also suits families looking for children life insurance coverage. The insurer also offers term, universal and indexed universal policies.
If you want instant online quotes for term coverage, you may find faster options elsewhere. Those who prefer traditional whole policies should compare other whole life insurance providers.
Mutual of Omaha Life Insurance Policies: FAQ
Is Mutual of Omaha a good life insurance company?
Mutual of Omaha holds an A+ rating from A.M. Best and ranks first in J.D. Power's 2025 customer satisfaction study. The NAIC complaint index of 0.51 indicates fewer complaints than expected for a company its size.
Can you get Mutual of Omaha life insurance without a medical exam?
Yes. Whole life for ages 45 to 85 requires no exam and no health questions. Children's whole life requires only three health questions. Accidental death guarantees approval based solely on age.
Does Mutual of Omaha life insurance build cash value?
Whole life and universal life build cash value on a tax-deferred basis. Term life doesn't build cash value.
For this Mutual of Omaha review, we analyzed term life rates for a 40-year-old male nonsmoker in average health seeking $500,000 in coverage on a 20-year term. Rates were sourced from quotes collected from the company.
We calculated the MoneyGeek score based on the following weightings: Affordability at 50%, Customer Experience at 30% and Coverage at 20%. Customer experience ratings consider J.D. Power satisfaction scores, online customer ratings, AM Best financial strength and NAIC complaint index score.
The coverage options score is based on available policies, coverage amounts, term lengths, ages supported, rider options, state availability and unique offerings.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has analyzed the insurance market for almost a decade, first with LendingTree and now with MoneyGeek, conducting original research on hundreds of insurance companies and millions of insurance rates for insurance shoppers.
He writes about economics and insurance on MoneyGeek, breaking down complex topics so people can have confidence in their purchase. Like all MoneyGeek analysts, Mark collects and analyzes independent cost and consumer experience data on insurance companies to provide objective recommendations in our content that are independent of any of MoneyGeek's insurance company partnerships.
His insights on products ranging from car, home and renters insurance to health and life insurance have been featured in The Washington Post, The New York Times and NPR, among others.
Mark holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He started his career working in financial risk management at State Street before transitioning to the analysis of the personal insurance market. He's also a five-time Jeopardy champion!
Sources
- Mutual of Omaha. "Life Insurance." Accessed April 6, 2026.
- Mutual of Omaha. "Term Life Insurance." Accessed April 6, 2026.
- Mutual of Omaha. "Whole Life Insurance." Accessed April 6, 2026.
- Mutual of Omaha. "Children's Whole Life Insurance." Accessed April 6, 2026.
- Mutual of Omaha. "Universal Life Insurance." Accessed April 6, 2026.
- Mutual of Omaha. "Accidental Death Insurance." Accessed April 6, 2026.