Mutual of Omaha is a long-established Omaha, Nebraska insurer with an A+ (Superior) AM Best rating. It offers term, whole, universal, children’s and guaranteed issue whole life, and it is a common choice for older adults and people who want no-exam or final expense coverage. Its traditional term rates are not always the lowest, so compare quotes.
Mutual of Omaha is one of the most recognizable names in American insurance, partly thanks to decades of Wild Kingdom sponsorship. But name recognition is not a reason to buy a policy. This review looks at the company’s history, financial strength, life insurance products, strengths and weaknesses, using information published by Mutual of Omaha and independent reviewers.
Product details, rates and availability vary by state, age and health, and can change. Confirm current terms with the company or a licensed agent before you apply.
Mutual of Omaha Life Insurance at a Glance
| Item | Details |
|---|---|
| Founded | 1909, as Mutual Benefit Health & Accident Association |
| Headquarters | Omaha, Nebraska |
| AM Best rating | A+ (Superior), Mutual of Omaha Insurance Company |
| Other ratings | Moody’s A1 (Good), S&P Global A+ (Strong) |
| Life insurance issued by | United of Omaha Life Insurance Company; Companion Life Insurance Company in New York |
| Main policy types | Term, whole, universal, indexed universal, children’s whole life, guaranteed issue whole life |
| NAIC complaint index | 0.51, per MoneyGeek (1.0 is the baseline) |
Company History
According to Mutual of Omaha’s company timeline, the business began in 1909 as Mutual Benefit Health & Accident Association, filing articles of incorporation with the Nebraska Insurance Department. Harry S. Weller served as its first president until 1932. The company focused on health and accident coverage early on, was licensed in 15 states by 1920 and in all 48 states by 1939.
Its life insurance arm, then called United Benefit Life Insurance Company, was incorporated on August 9, 1926. Policygenius notes the company was renamed Mutual of Omaha in 1950. Today, Mutual of Omaha says its individual life insurance is underwritten by United of Omaha Life Insurance Company, which is licensed nationwide except New York. In New York, Companion Life Insurance Company underwrites life insurance.
Financial Strength and Customer Ratings
Financial strength ratings estimate an insurer’s ability to pay claims, which matters for policies that may last decades. Mutual of Omaha’s ratings page lists the following for Mutual of Omaha Insurance Company:
- AM Best: A+ (Superior), the second highest of 16 ratings
- S&P Global: A+ (Strong), the fifth highest of 21
- Moody’s: A1 (Good), the fifth highest of 21
The page says United of Omaha Life Insurance Company has also earned strong ratings but does not list them separately, so check the rating for the specific company that will issue your policy.
On customer experience, MoneyGeek reports that Mutual of Omaha scored 707 out of 1,000 in the J.D. Power 2025 U.S. Life Insurance Study, ranking first among 23 insurers against an industry average of 650. MoneyGeek also lists an NAIC complaint index of 0.51. A score below 1.0 means fewer complaints than expected for a company of its size.
Life Insurance Products
Term life insurance
Mutual of Omaha sells two main term products. Term Life Answers is its fully underwritten term policy, offered in 10, 15, 20 or 30-year terms. MoneyGeek lists issue ages of 18 to 80 and coverage up to $10 million for qualified applicants, sold through a licensed agent. Term Life Express is a simplified term product with no medical exam. Mutual of Omaha’s disclosures list 10, 15, 20 and 30-year level terms plus 20 and 30-year return of premium versions, and note it may not be available in all states. MoneyGeek cites a $300,000 limit on no-exam coverage. MoneyGeek also notes that term policies can be converted to permanent coverage.
Whole life and final expense
Mutual of Omaha offers whole life coverage, including Living Promise whole life, which Policygenius describes as a final expense product for ages 45 to 85. These smaller policies are designed to help with funeral and end-of-life costs, though the company cautions that life insurance may not cover the full cost of a funeral.
Guaranteed issue whole life
For seniors who may not qualify elsewhere, Mutual of Omaha offers Guaranteed Whole Life. Both Policygenius and MoneyGeek describe guaranteed acceptance coverage for ages 45 to 85 (50 to 75 in New York) with face amounts of roughly $2,000 to $25,000, depending on state rules, and no medical exam or health questions. Guaranteed issue policies typically cost more per dollar of coverage, so ask whether benefits are limited in the first years of the policy before you buy.
Universal and indexed universal life
The company’s disclosures list universal life products including AccumUL Answers, AccumUL Plus and Guaranteed Universal Life Express, plus Indexed Universal Life Express, Income Advantage and Life Protection Advantage. MoneyGeek says AccumUL Answers offers coverage up to $10 million and is sold through an agent rather than online.
Children’s whole life
MoneyGeek reports children’s whole life is available for ages 14 days to 17 years, with $5,000 to $50,000 of coverage and three health questions but no medical exam.
Sample Rates
MoneyGeek’s analysis of 20-year, $500,000 term policies for 40-year-old nonsmokers in average health found average monthly rates of about $49 for women and $60 for men, which it says are 6% and 2% above national averages. Policygenius found a similar pattern in its earlier sample rates, describing Mutual of Omaha’s term pricing as somewhat above the industry average. These figures are examples only; your price will depend on age, health, sex, tobacco use, state and coverage.
Pros and Cons
| Pros | Cons |
|---|---|
| A+ (Superior) AM Best rating | Traditional term rates can run above average |
| Strong J.D. Power result reported by MoneyGeek | No online quotes for term and universal life, per MoneyGeek |
| Wide range, from term to guaranteed issue whole life | No-exam term coverage is capped at a relatively low amount |
| Convertible term coverage | Some products and riders vary or are unavailable by state |
Who Mutual of Omaha Fits
- Older adults who want final expense or guaranteed issue whole life without a medical exam.
- Applicants who want to avoid an exam and need a moderate amount of term coverage.
- Parents or grandparents looking for a small children’s whole life policy.
- Buyers who value a long track record and strong financial ratings.
People in their 50s and 60s who want traditional, fully underwritten term coverage will likely find lower rates elsewhere, according to Policygenius. Compare quotes from several insurers and consider talking with an independent licensed agent.
Bottom Line
Mutual of Omaha is a financially strong insurer, rated A+ by AM Best, with more than a century of history and a broad life insurance lineup. It is especially worth a look for no-exam term, final expense and guaranteed issue whole life. Its traditional term pricing is not always the cheapest, so get several quotes, confirm product availability in your state and review the policy with a licensed agent before applying.
Frequently asked questions
Is Mutual of Omaha a good life insurance company?
Mutual of Omaha has an A+ (Superior) financial strength rating from AM Best, according to its ratings page, and MoneyGeek reports a first-place J.D. Power 2025 life insurance result. It offers many policy types. Its term rates are not always the lowest, so compare quotes before deciding.
Does Mutual of Omaha require a medical exam?
It depends on the policy. Term Life Express is a no-exam simplified term product, and Guaranteed Whole Life requires no exam or health questions. Fully underwritten policies such as Term Life Answers may involve medical underwriting. Requirements vary by age, coverage amount and state.
What age can you get Mutual of Omaha guaranteed whole life insurance?
Policygenius and MoneyGeek both report guaranteed acceptance whole life for ages 45 to 85, or 50 to 75 in New York, with coverage of roughly $2,000 to $25,000 depending on state rules. Confirm current ages and amounts with Mutual of Omaha or a licensed agent, since they can change.
Can you convert Mutual of Omaha term life to whole life?
MoneyGeek lists the ability to convert term policies to permanent coverage as a strength of Mutual of Omaha. Conversion deadlines, eligible products and age limits are set in each policy contract and can vary, so read your policy or ask the company before your conversion window closes.
Read also
You may also search for: life insurance cost, term vs. whole life, insurance waiting periods
This article is for general information only and is not insurance, financial or legal advice. Rates, products and rules vary by age, health, state and insurer. Compare quotes and speak with a licensed agent before buying a policy. Sources: Ratings – Mutual of Omaha, Life Insurance Basics, Coverage, Online Quotes – Mutual of Omaha, Nebraska Based Insurance Agency, Company History and Timeline – Mutual of Omaha, Mutual of Omaha Life Insurance Review 2026 – MoneyGeek, Mutual of Omaha Life Insurance Review: Good No-Exam Options – Policygenius.
