Mutual of Omaha, an A+ rated company founded in 1909, offers competitive underwriting for a range of health conditions, including high limits for accelerated death benefits, allowing those who have been diagnosed with terminal illness to access a portion of their policy’s death benefit while still alive.
Mutual of Omaha has a slower than average application turnaround time. Once you have your policy, you cannot update any of your information online. Mutual of Omaha makes up for it by including high benefits for the accelerated death benefit, which allows you to take money out of your policy to pay for charges related to a terminal illness.
4 of 5
Mutual of Omaha was named one of "America's Best Employers" in Forbes magazine's 2015 list, ranking #29 out of 500 companies. The poll asked employees at large companies how likely they were to recommend their employers to others compared to other companies in the same industry.
Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how Mutual of Omaha treats a variety of common health conditions from an underwriting perspective.
|Recent Weight Loss||Good|
|Former Tobacco Use||Fair|
|High Blood Pressure||Good|
Excellent - Above average; company provides excellent coverage for clients with this condition.
Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.
Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.
After you're a policyholder
Quote for: $500,000, 20-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums
|Company||Plan||Male - Age 30||Male - Age 40||Male - Age 50||Female - Age 30||Female - Age 40||Female - Age 50|
|Mutual of Omaha||Term Life Answers||$21.66||$33.47||$85.53||$23.41||$28.66||$64.09|
|Pacific Life||Pacific PROMISE Term||$20.84||$29.59||$77.09||$19.18||$26.68||$61.67|
|Protective||Custom Choice UL||$20.37||$28.91||$76.82||$17.93||$25.25||$55.75|
|Protective||Classic Choice Term||$20.21||$28.38||$75.68||$17.63||$25.94||$55.47|
|Prudential||Return of Premium Term||$101.00||$143.62||$291.99||$88.12||$130.04||$253.37|
|SBLI||Level Premium Term||$21.32||$40.05||$96.06||$24.48||$34.71||$65.87|
Annual Payment Discount
Payment methods available
Check; Auto bank draft
Is coverage available without a medical exam?
What is the rule for converting the policy?
The 10-year policy may be converted any time up to age 75. Policies issued at age 74 or 75 have a 2-year conversion window. The 15 and 20-year term policies can be converted before age 75. Term Life Answers 30 may be converted in the first 20 policy years.
Is temporary coverage available?
Yes, up to $1,000,000.
Riders are additions to your overall life insurance policy that turn a basic life insurance policy into something that covers more circumstances.
Child Protection Rider
Provides life insurance coverage for all eligible children.
Other Insured Rider
Covers one other person with the same terms of the base policy. Premium is based on the age and face amount of the other insured person.
Disability Income Rider
If you become totally disabled as a result of a qualifying event, you will not have to pay premiums for a fixed period of time.
Unemployment Waiver of Premium Rider
If you become unemployed, you will not have to pay premiums for a limited period of time.
Accelerated Death Benefit Rider
Allows you to receive a portion of the death benefit if you are diagnosed with a qualifying terminal illness.
Accidental Death Benefit Rider
Pays an additional death benefit on top of the base policy's death benefit if the death resulted from qualifying accidental injuries.
This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term). The key features of this policy are standard across all the term policies we offer:
The review on this page is only for this company's term life insurance products.