Understanding Mutual of Omaha Life Insurance

When it comes to securing your family’s future, life insurance can be the best way to go. Mutual of Omaha Life Insurance is one of the most popular options in this regard. In this article, we will take a closer look at Mutual of Omaha Life Insurance and everything you need to know about it.

What is Mutual of Omaha?

Mutual of Omaha is an insurance and financial services company founded in 1909. The company is headquartered in Omaha, Nebraska, and has been providing life insurance for over a century. In addition to life insurance, the company also provides other insurance products such as health, accident, and disability insurance.

Mutual of Omaha is a Fortune 500 company and has a strong reputation for financial strength and customer service. The company has received numerous awards for its products and services over the years. According to its website, Mutual of Omaha has over 4.8 million individual policyholders and 36,000 employer groups.

Why Choose Mutual of Omaha?

Choosing a life insurance company can be a difficult decision, but there are several reasons why you might want to consider Mutual of Omaha:

  • Financial Strength: Mutual of Omaha is a financially stable company with a strong rating from rating agencies such as A.M. Best, Standard & Poor’s, and Moody’s.
  • Flexible Policy Options: Mutual of Omaha offers a variety of policy options to fit your budget and needs, including term life insurance, whole life insurance, and universal life insurance.
  • Convenient Application Process: You can apply for Mutual of Omaha life insurance online or through an agent, whichever is more convenient for you.
  • Customer Service: Mutual of Omaha has a strong reputation for excellent customer service and has received numerous awards for its customer service over the years.

Mutual of Omaha Life Insurance Products

Mutual of Omaha offers several life insurance products to fit your needs:

Term Life Insurance

Term life insurance is the most affordable option for life insurance. This type of policy provides coverage for a specific period of time, usually 10, 20, or 30 years. If you die during the coverage period, your beneficiaries will receive the death benefit. Mutual of Omaha offers term life insurance with coverage up to $1 million.

Whole Life Insurance

Whole life insurance provides coverage for your entire life, as long as you continue to pay the premiums. This type of policy accumulates cash value over time, which you can borrow against or use to pay premiums. Mutual of Omaha offers several types of whole life insurance, including traditional whole life insurance, guaranteed universal life insurance, and indexed universal life insurance.

Universal Life Insurance

Universal life insurance is a flexible type of policy that allows you to adjust your premiums and death benefit over time. This type of policy also accumulates cash value, which you can borrow against or use to pay premiums. Mutual of Omaha offers several types of universal life insurance, including indexed universal life insurance and guaranteed universal life insurance.

Mutual of Omaha Life Insurance Rates

Life insurance rates vary depending on several factors such as age, health, and lifestyle. Mutual of Omaha offers affordable rates for its life insurance products. Here are some sample rates for a 35-year-old non-smoker:

Policy Type
Death Benefit
Monthly Premium
Term Life Insurance
$500,000
$21.92
Whole Life Insurance
$100,000
$104.99
Universal Life Insurance
$100,000
$51.25

FAQs

How do I apply for Mutual of Omaha Life Insurance?

You can apply for Mutual of Omaha life insurance online or through an agent. To apply online, visit the Mutual of Omaha website and select the type of policy you want. You will be asked to provide some basic information, and you can choose to receive a quote or apply for coverage immediately. If you prefer to apply through an agent, you can search for an agent near you on the Mutual of Omaha website.

Can I change my policy in the future?

Yes, you can change your policy in the future. With most policies, you can increase or decrease your coverage, change the length of your term, or convert your policy to a different type of policy. Contact Mutual of Omaha customer service or your agent to make changes to your policy.

What happens if I miss a premium payment?

If you miss a premium payment, your policy will lapse, and you will no longer have coverage. You can usually reinstate your policy within a certain period of time by paying the missed premiums and any penalties or interest. If you do not reinstate your policy, it will be terminated, and you will lose any cash value in the policy.

How do I file a claim?

To file a claim, contact Mutual of Omaha customer service or your agent. You will need to provide a copy of the death certificate and other documentation as requested by Mutual of Omaha. Once your claim is approved, your beneficiaries will receive the death benefit.

Is Mutual of Omaha a good life insurance company?

Yes, Mutual of Omaha is a well-respected and financially stable life insurance company. The company has a strong reputation for customer service and offers a variety of life insurance products to fit your needs.

Overall, Mutual of Omaha Life Insurance is a great option for those looking for affordable and reliable life insurance coverage. With flexible policy options and excellent customer service, Mutual of Omaha can provide you with the peace of mind you need to secure your family’s future.