Mutual of Omaha Review: Life Insurance for Seniors & Families

Mutual of Omaha legitimacy and licensing

Yes. Mutual of Omaha filed incorporation papers with the Nebraska Insurance Department in 1909 and was licensed in all 48 states by 1939. Its life policies are issued by United of Omaha Life Insurance Company, which is licensed in every state except New York; New York policies come from Companion Life Insurance Company. AM Best and S&P Global rate Mutual of Omaha Insurance Company and United of Omaha Life A+, and Moody’s rates them A1, all with a stable outlook.

Legitimate doesn’t mean problem free. Its BBB profile lists 226 complaints in three years, and its Trustpilot score is 1.3 out of 5 from 168 reviews. Those counts are small next to the number of policies it has in force, but the themes are consistent: slow service, claim delays and billing issues.

What Mutual of Omaha sells

• Term life: Term Life Express and Term Life Answers in 10, 15, 20 and 30 year terms, with return-of-premium versions of 20 and 30 years that refund premiums if you outlive the term. Premiums stay level, and you can convert to a permanent plan.
• Guaranteed whole life: $2,000 to $25,000 for ages 45 to 85 (50 to 75 in New York; $5,000 minimum in Washington), with no medical exam or health questions and premiums that never rise.
• Children’s whole life: for children 14 days to 17 years old.
• Universal and indexed universal life: permanent coverage with adjustable premiums and death benefits, including accelerated death benefits for terminal or chronic illness.
• Medicare supplement, long-term care, critical illness, dental, annuities and mortgages through affiliated companies.

Mutual of Omaha pricing

Mutual of Omaha does not publish rates. Your premium depends on your age at issue, sex, term length, health, tobacco use and coverage amount. Return-of-premium term costs more than plain term because it refunds premiums if you outlive the policy. Guaranteed whole life costs more per dollar of coverage than underwritten whole life because the insurer takes everyone in its age range. Get at least three quotes for the same amount and term.

What to check before buying guaranteed whole life

Policies with no health questions usually limit what they pay if you die in the first years. Mutual of Omaha’s disclosures list separate level benefit and graded benefit policy forms, but its whole life page does not spell out the waiting period. Ask the agent or read the policy for how much is paid in years one and two, and use your state’s free-look period to cancel if it isn’t what you expected. All of its life policies also exclude suicide within two years of issue (one year in North Dakota and Minnesota) and refund premiums instead.

Complaints and what customers report

On Trustpilot, 90% of 168 reviews are one star. Common issues are long hold times, claims left pending (including long-term care claims), billing errors, lost paperwork and sales calls that continue after people ask to stop. A Telephone Consumer Protection Act lawsuit, Tatum v. Mutual of Omaha Insurance Company, was filed in federal court in Texas in July 2026; it is an allegation, not a ruling. Positive reviews mention helpful agents and smooth death claim payments.

For insurance complaints, the most useful data is the NAIC complaint index for the specific company issuing your policy, which compares complaints with its size. You can look it up on NAIC’s Consumer Insurance Search.

Who regulates Mutual of Omaha and where to complain

Insurers are regulated by the insurance department in each state where they sell. If Mutual of Omaha won’t fix a claim or billing problem, ask for a written explanation, then file a complaint with your state insurance department, which will forward it and require a response. Every state has a free-look period for new life policies, usually 10 to 30 days, during which you can cancel for a full refund. Medicare supplement plans are standardized by letter, so Plan G from Mutual of Omaha covers the same benefits as Plan G from any other insurer in your state.

Who should skip Mutual of Omaha

Healthy younger buyers who just want the cheapest large term policy will often find lower published prices from online insurers. If you need coverage for 35 or 40 years, Mutual of Omaha’s 30 year maximum is too short. And if you want a final expense policy larger than $25,000, you’ll need underwritten coverage or another insurer.