Pacific Life and Mutual of Omaha are two of the most established life insurance companies on the market, both with well over 1,000,000 policyholders nationwide. Both have great consumer grades and offer competitive term life insurance rates.
So, how do you decide which company is best for you? Well, individual standards and needs differ from person to person, but the best ways to judge a life insurance company are third-party ratings, company strength, company features, and policy details.
Luckily for you, we did our homework. Read on to learn more about the term life insurance policies offered by Pacific Life and Mutual of Omaha.
Pacific Life vs. Mutual of Omaha term life insurance cost comparison
If you’re looking for the most affordable life insurance option, here are the average monthly premiums for Pacific Life and Protective term life insurance policies.
| Pacific Life | Mutual of Omaha | ||
|---|---|---|---|
| Male | Age 30 | $20.84 | $21.66 |
| Age 40 | $29.59 | $33.47 | |
| Age 50 | $77.09 | $85.53 | |
| Female | Age 30 | $19.18 | $23.41 |
| Age 40 | $26.68 | $28.66 | |
| Age 50 | $61.67 | $64.09 |
Average premium cost based on $500,000/20-year term life insurance policies for health, nonsmoking applicants in California
Pacific Life vs. Mutual of Omaha health pricing
Life insurance company premium costs are largely based off an individual’s health and health history. But there isn’t a one-size-fits-all method for underwriting or determining an individual’s probability of staying healthy and well, so in terms of pricing, some companies are lenient toward certain illnesses and lifestyle trends while being more critical of others
Here’s how Pacific Life and Mutual of Omaha rate the most common life insurance health concerns:
| Pacific Life | Mutual of Omaha | |
|---|---|---|
| Cancer Survivor/Family History | Excellent | Excellent |
| Recent Weight Loss | Good | Good |
| Heart Attack | Good | Good |
| Diabetes | Good | Good |
| Sleep Apnea | Excellent | Excellent |
| Former Tobacco Use | Fair | Fair |
| High Blood Pressure | Fair | Good |
| High Cholesterol | Excellent | Good |
Learn more about the best life insurance companies for every scenario.
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Pacific Life vs. Mutual of Omaha insurance rider availability
Sometimes, a carrier’s base policy just isn’t enough. This is where riders come in to play.
Riders allow you to customize your life insurance policy so that it covers more circumstances. Most fall under one of these four categories — family riders, long-term care riders, benefit structure riders and accidental death or dismemberment riders — and are worth looking into before making a final decision.
Here are the riders offered by Pacific Life and Mutual of Omaha.
| Pacific Life | Mutual of Omaha | |
|---|---|---|
| Child Protection Rider | X | X |
| Accelerated Death Benefit Rider | X | X |
| Accidental Death Benefit Rider | X | |
| Disability Waiver of Premium Rider | X | X |
Learn more about life insurance riders.
Pacific Life vs. Mutual of Omaha company ratings
Ratings agencies often feature different rating criteria, so it’s important to understand how each one functions. A.M. Best focuses on the financial strength of the company, while J.D. Power rankings are based on customer service surveys. The Better Business Bureau (BBB) gives letter grades based on consumer feedback.
How do Pacific Life and Mutual of Omaha grade out in terms of financial and customer service ratings?
| Pacific Life | Mutual of Omaha | |
|---|---|---|
| A.M. Best | A+ | A+ |
| J.D. Power | N/A | 4 out of 5 |
| BBB | A+ | A+ |
Compare life insurance companies
Find more head-to-head comparisons between top-rated life insurance companies to help you make the right decision.
| Mutual of Omaha vs... | Pacific Life vs... |
|---|---|
| Protective | AIG |
| Transamerica | Banner Life |
| Lincoln Financial | |
| Protective | |
| Prudential | |
| Transamerica |
Choosing the right life insurance company
So which life insurance company is best for you? Are you leaning toward the cost-friendly Pacific Life? Or is the rider availability of Mutual of Omaha too hard to pass up?
Well, as we said at the top, it depends on the individual and which aspects of a policy they find most important and which aspects they can comfortably do without. This is where a little cost-benefit analysis comes in handy, and hopefully we did our part to make you to feel confident in whichever company you go with.
Ready to begin your search and start looking for the best policies that Pacific Life, Mutual of Omaha, and other top life insurance companies have to offer? Try out our coverage calculator to find plans and companies tailored to your needs.
