Protective vs. Mutual of Omaha life insurance

Learn the difference between the life insurance options offered by Protective and Mutual of Omaha.

Pat Howard 1600


Pat Howard

Pat Howard

Property and Casualty Insurance Expert

Pat Howard is a senior editor at Policygenius specializing in property and casualty insurance. His work has been featured on Property Casualty 360, Fatherly, MarketWatch, and more.

Published July 25, 2018|2 min read

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Protective and Mutual of Omaha are both established insurance companies with well over 1,000,000 policyholders nationwide, competitive rates, and options for applicants with varying ages and lifestyles. Both have been given exceptional consumer grades and offer competitive term life insurance rates.

But which company should you go with? Beside simply looking at price, anyone deciding between Protective and Mutual of Omaha should consider rider availability, how they scrutinize certain illnesses or habits applicable to you and your family, and consumer ratings assigned by independent organizations.

Protective 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 Protective and Mutual of Omaha term life insurance policies.

ProtectiveMutual of Omaha
MaleAge 30$20.84$21.66
Age 40$29.59$33.47
Age 50$77.09$85.53
FemaleAge 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

Protective vs Mutual of Omaha health pricing

Life insurance companies determine your premiums largely on your recent health as well as your health history. In terms of pricing, some companies are more lenient toward certain illnesses and more critical of others.

ProtectiveMutual Life of Omaha
Cancer Survivor/Family HistoryGoodExcellent
Recent Weight LossGoodGood
Heart AttackGoodGood
Sleep ApneaGoodExcellent
Former Tobacco UseFairFair
High Blood PressureGoodGood
High CholesterolGoodGood

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Protective vs Mutual of Omaha insurance rider availability

Sometimes the base plan isn’t enough for people, but that doesn’t necessarily mean dropping it out of consideration altogether. This is where riders come in to play.

Most riders fall under one of these four categories — family riders, long-term care riders, benefit structure riders, accidental death or dismemberment riders — and are worth looking into before making a final decision.

The accelerated death benefit rider, for example, allows a terminally ill policyholder to receive a portion of their payout when they become terminally ill, to pay for medical bills, etc. This is a common rider and a good one to add on to any policy.

As you can see in the chart below, Protective and Mutual of Omaha both offer all of the most popular riders to applicants.

ProtectiveMutual of Omaha
Child Protection RiderXX
Accelerated Death Benefit RiderXX
Accidental Death Benefit RiderXX
Disability Waiver of Premium RiderXX

Learn more about life insurance riders.

Protective 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 in, while J.D. Power rankings are based on customer service surveys. The Better Business Bureau (BBB) gives letter grades based on consumer feedback.

ProtectiveMutual of Omaha
A.M. BestA+A+
J.D. Power3 out of 54 out of 5

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Choosing the right life insurance company

Based on all the information provided, is Protective the right life insurance company for you, or is it Mutual of Omaha? It really depends on your individual situation and what your needs are. It may boil down to the policy’s cost, health considerations, rider availability, customer service, or something we haven’t mentioned yet. Bottom line: There might not be a one-size-fits-all life insurance company, but there is a company out there for you and your individual needs.

Ready to start looking at policies from Protective, Mutual of Omaha, and other top life insurance companies? Use our coverage calculator for find plans and companies tailored to your needs.