Mutual of Omaha Term Life Insurance Policies Review [2024]

What You Should Know About Mutual of Omaha

Dating back to 1909 and originally based in Omaha, Nebraska, Mutual of Omaha offers an array of insurance products that include everything from life insurance policies to general insurance policies. In addition, Mutual of Omaha also offers insurance for disabilities, short-term and long-term care, as well as supplementary insurance.

Mutual of Omaha term life insurance policies are available to applicants between the ages of 18 and 80. In addition, they can be renewed on an annual basis — up to age 95 — with coverage maxing out at $1 million.

Continue reading to discover more about Mutual of Omaha’s life insurance policies and what is covered. Are you ready to begin saving? Simply enter your ZIP code to start comparing quotes in your area.

Mutual of Omaha Insurance Coverage Options

Mutual of Omaha offers three different types of insurance policies, including whole life insurance, indexed universal life insurance, and term life insurance.

Here is a basic breakdown of what is offered with each:

Policy	Term	Info
Term Life	10 to 30 years	Policies start at $100,000 with the option to convert their term life policies to permanent life insurance up to age 80
Universal life	10 to 30 years	Policies include accelerated death benefits at no additional cost; also features downside protection, accelerated death benefits, and guaranteed refund option riders
Whole life	10 to 30 years	For people ages 45 to 85 (50 to 75 in New York); policies do not require answering health questions or taking a medical examination; policies start from $2,000 and range to $25,000

While the universal life policy carries accelerated death benefits without any penalty, the whole life policy has limited benefits.

Term Life Insurance

Mutual of Omaha has two different policies regarding term life insurance, consisting of Term Life Express and Term Life Answers. Both of these policies cover a set period of time (10 to 30 years) but are slightly more expensive when compared to Mutual of Omaha’s other products, such as whole life.

But what is the difference between Term Life Express and Term Life Answers?

Type	Info
Term Life Express	This policy does not require you to take a medical exam in order to qualify, but you will need to participate in a phone interview that will detail your health history; the maximum coverage option available is from $25,000 to $300,000
Term Life Answers	This policy has a minimum death benefit of $100,000 and a maximum of $65 million; you must take a medical exam to qualify

Term Life Answers policies tend to be slightly more expensive than policies from other life insurance companies but are generally more affordable than Term Life Express.

Since you are not required to take a medical exam for Term Life Express, your rates will be higher than average, and the size of any purchasable death benefits will be significantly lower for payouts.

Whole Life Insurance

Mutual of Omaha whole life insurance is designed to provide lifelong coverage without a medical exam. This policy offers rates that are guaranteed not to increase and can be purchased by individuals between the ages of 45 and 85.

Death benefits range from $2,000 to $25,000.

Universal Life Insurance

There are four different policies offered under Mutual of Omaha’s universal life insurance:

• AccumUL – This is a permanent life insurance policy which guarantees that your cash value account will grow at a minimum of 2% annually.
• Guaranteed Universal Life – This is a universal policy that will not lapse if your cash value reaches zero.
• Life Protection Advantage – Also known as indexed universal life insurance, this policy is tied to the performance of a market index and will accrue cash value.
• Children’s whole life insurance – This policy is available for children between the ages of 14 days and 17 years old and is meant to provide financial protection if your child becomes seriously ill or passes away unexpectedly.

Rates from Mutual of Omaha start at approximately $24 a month for their most basic plans and increase intermittently. This makes Mutual of Omaha an ideal life insurance option for seniors who are on a fixed budget.

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Mutual of Omaha Insurance Rates Breakdown

When it comes to Mutual of Omaha term life insurance, understanding the factors that influence insurance rates is crucial. Various elements come into play, shaping the premiums applicants are required to pay. Here’s a breakdown of these factors and valuable insights into internal linking opportunities within Mutual of Omaha’s policies:

• Age and Coverage Amount: One of the primary factors influencing insurance rates is the applicant’s age. Generally, younger individuals are offered lower premiums. Additionally, the coverage amount chosen significantly impacts the rates. A higher coverage amount naturally results in higher premiums.
• Health and Medical History: Mutual of Omaha assesses an applicant’s health condition and medical history to determine their risk profile. Individuals with pre-existing medical conditions might face higher premiums. Applicants with excellent health records typically enjoy more affordable rates.
• Term Length: The duration of the term life insurance policy also affects rates. Shorter terms usually have lower premiums, making them an attractive option for individuals seeking temporary coverage for specific financial obligations.
• Lifestyle Choices: Certain lifestyle choices, such as smoking or engaging in high-risk activities, can lead to increased premiums. Insurance providers like Mutual of Omaha often charge higher rates for smokers due to the associated health risks.
• Gender: Historically, insurance companies have charged different rates based on gender. While this practice is changing in some regions, it’s essential to check Mutual of Omaha’s policies to understand their approach to gender-based pricing.
• Driving Record: Although driving record primarily applies to auto insurance, Mutual of Omaha might consider overall risk factors, including a history of reckless behavior, when assessing life insurance rates for applicants.

Internal Linking Opportunities

To make the most of your research and decision-making process, you can explore internal links to access more detailed information about specific criteria and factors that affect your insurance rates. Here are some potential internal linking opportunities within the content:

• Policy Comparison Pages: Create internal links directing users to pages comparing different Mutual of Omaha term life insurance policies. Highlight the varying rates and coverage options to assist users in making informed decisions.
• Age-Specific Guides: Develop informative content tailored to different age groups, explaining how age influences insurance rates. Include internal links to relevant Mutual of Omaha policies suitable for each age category.
• Health and Lifestyle Blogs: Craft blog posts discussing how health conditions and lifestyle choices impact life insurance rates. Internal links can guide readers to Mutual of Omaha’s policies designed to accommodate specific health needs.
• Interactive Premium Calculators: Develop an interactive tool allowing users to estimate their insurance premiums based on factors like age, coverage amount, and health status. Include internal links redirecting users to suitable Mutual of Omaha policies matching their calculated premiums.
• Customer Testimonials: Incorporate customer testimonials discussing how they found affordable coverage with Mutual of Omaha despite certain challenges. Link these testimonials to the respective policy pages, emphasizing the company’s dedication to providing tailored solutions.

By effectively breaking down insurance rates and incorporating strategic internal linking opportunities, Mutual of Omaha can enhance user experience, educate potential clients, and drive informed decision-making regarding their term life insurance policies.

Mutual of Omaha Discounts Available

When considering Mutual of Omaha’s term life insurance policies, you may be eligible for various discounts that can help you save on your premiums. Here are the available discounts in bullet point format:

• Multi-Policy Discount: If you bundle your term life insurance with other insurance policies, such as auto or home insurance, you may qualify for a multi-policy discount.
• Good Health Discount: Some policies may offer discounts for individuals who meet certain health criteria, such as maintaining a healthy lifestyle or achieving specific wellness goals.
• Non-Smoker Discount: If you are a non-smoker or have quit smoking for a specified period, you could be eligible for reduced rates.
• Family Discount: Some insurance providers offer discounts when multiple family members or spouses purchase term life insurance policies.
• Payment Method Discount: Choosing certain payment methods, such as automatic bank withdrawals or electronic payments, may lead to lower premiums.
• Loyalty Discount: Staying with the same insurance provider for an extended period could make you eligible for loyalty discounts.
• Safe Lifestyle Discount: If you lead a safe lifestyle, such as avoiding risky activities, you may qualify for lower rates.
• Annual Payment Discount: Opting to pay your premium annually, rather than monthly, can result in a discount.
• Group Affiliation Discount: Being a member of certain organizations or professional groups may entitle you to discounts.

It’s essential to check with Mutual of Omaha or your insurance agent to determine which discounts you qualify for and how they can be applied to your term life insurance policy. Discounts can significantly reduce your insurance costs while providing the coverage you need.

How Mutual of Omaha Ranks Among Providers

Mutual of Omaha, as a well-established insurance company, is often regarded favorably within the insurance industry based on various factors. Here are some general areas in which Mutual of Omaha’s term life insurance might be recognized:

• Financial Strength: Mutual of Omaha typically enjoys high ratings for its financial stability and ability to meet its financial obligations. This is a crucial factor for an insurance provider’s reputation and trustworthiness.
• Customer Satisfaction: Mutual of Omaha is known for its commitment to excellent customer service and claims processing, contributing to positive customer feedback.
• Variety of Insurance Products: Mutual of Omaha offers a diverse range of insurance products, providing customers with a wide selection of coverage options.
• Competitive Rates: While individual premium rates can vary, Mutual of Omaha often offers competitive pricing, combining affordability with comprehensive coverage.
• Flexibility: Mutual of Omaha’s term life insurance policies often offer flexibility, allowing customers to tailor their coverage to their specific needs.
• Reputation: With a long-standing presence in the insurance industry, Mutual of Omaha has built a reputation for reliability and quality service.

While Mutual of Omaha is generally well-regarded, specific rankings can vary depending on the criteria and methodologies used by rating organizations. For a more precise assessment, it’s advisable to refer to independent rating agencies and consumer reviews to gauge how Mutual of Omaha compares to other insurance providers in the market.

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