Mutual of Omaha Term Life Insurance Rates and Coverage Options

Mutual of Omaha offers term life insurance policies with coverage options ranging from $50,000 to $5 million.

The company's term life insurance rates are competitive, with quotes starting at around $10 per month for a 20-year term policy.

You can choose from a variety of coverage options, including a level death benefit, which means the payout remains the same regardless of when you pass away.

The policy also includes a conversion option, allowing you to convert your term life insurance to a permanent life insurance policy without a medical exam.

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Mutual of Omaha's Term Life Express policies start at $25,000 and cap at $300,000, depending on your age.

Many no exam carriers begin their coverage at $50,000, but Mutual of Omaha's Term Life Express starts lower.

Coverage amounts for Mutual of Omaha's no-medical-exam term life insurance, Term Life Express, start at $25,000 and are capped between $150,000 and $300,000, depending on your age.

Here are the minimum coverage amounts for Mutual of Omaha's term life insurance products:

Mutual of Omaha offers a range of basic coverages to suit different needs and preferences.

Term life insurance is available for 10, 15, 20, and 30-year terms, covering people aged 18 to 80 with a minimum coverage of $100,000.

For those who want no-medical-exam term life insurance, Mutual of Omaha offers Term Life Express, available for people aged 18 to 70 with terms ranging from 10 to 30 years and coverage amounts starting at $25,000.

Whole life insurance is also offered, specifically for final expense policies, with Living Promise and UCSL3 (CCSL3 in New York) being two of the available options.

These policies are designed for people aged 45 to 85, with coverage amounts ranging from $2,000 to $40,000 for Living Promise, and $2,000 to $25,000 for UCSL3.

Here's a quick rundown of the basic coverages offered by Mutual of Omaha:

Mutual of Omaha's Term Life Express policies start at $25,000 and cap at $300,000.

Many no exam carriers begin their coverage at $50,000.

Important limits exist on policy amounts available, based on your age.

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Mutual of Omaha's Term Life Express policy has a unique conversion option. You can convert your term policy into a permanent policy after year two.

The conversion period ends at the lesser of two things: the end of your policy's term period or the insured's 70th birthday. This means you have a limited window to make this change.

A Term Life Express policy cannot be converted into a fully underwritten product. This is an important consideration if you're looking for more comprehensive coverage down the line.

Here are the details on the conversion period:

Mutual of Omaha uses a rating system that looks at the average cost of life insurance for a sample 20-year term policy with a $1 million coverage for a 35-year-old female non-smoker with a Standard Plus risk classification.

Their price rating scale puts Mutual of Omaha in the second least expensive category for their rating system. This is based on quotes from the company, which indicates that their prices are competitive in the market.

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Mutual of Omaha has a customer experience score of 0.65, according to the National Association of Insurance Commissioners (NAIC) complaint index. This means they receive fewer complaints than expected for a company of their size, indicating a good customer experience.

The company's financial strength rating is a weighted combination of three industry-leading metrics: A.M. Best, Standard & Poor’s, and Moody’s. Mutual of Omaha has an A+ rating from A.M. Best, an A+ rating from Standard & Poor’s, and an A1 rating from Moody’s.

Mutual of Omaha scored well in J.D. Power's U.S. Individual Life Insurance Study, coming in at No. 3 with a score of 801 out of 1000.

The industry average score was 774, indicating that Mutual of Omaha's customers are generally more satisfied with the support they receive.

This suggests that Mutual of Omaha is doing something right, as its customers are more likely to be satisfied with their experience.

Mutual of Omaha's high customer satisfaction ratings are a testament to its commitment to providing excellent service to its customers.

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We use a price rating scale to evaluate life insurance companies, looking at the average cost of a 20-year term policy with $1 million coverage for a 35-year-old female non-smoker with a Standard Plus risk classification.

This rating scale is based on a sample quote from Mutual of Omaha, which put it in the second least expensive category for our rating system.

Mutual of Omaha has a customer experience score of 0.65, meaning it receives fewer complaints than expected for a company of its size, according to the National Association of Insurance Commissioners (NAIC) complaint index.

The company's financial strength rating is a weighted combination of three industry-leading metrics: A.M. Best, Standard & Poor's, and Moody's.

Mutual of Omaha has an A+ rating from A.M. Best and an A+ rating from Standard & Poor's, and an A1 rating from Moody's.

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Credit ratings for annuity providers can help determine a company's financial strength and stability, indicating if they'll be around to guarantee payments to you in the future.

Different rating companies use different scales to evaluate a company's creditworthiness. For instance, A+ is generally considered a strong rating, indicating a company has a high capacity to meet its financial obligations.

Mutual of Omaha has received high credit ratings from some of the major rating companies. AM Best and S&P have both given Mutual of Omaha an A+ credit rating.

You can find credit ratings for Mutual of Omaha and other annuity providers by looking up their ratings with different companies. However, not all rating companies may have a rating for every company.

Here are the credit ratings for Mutual of Omaha from some of the major rating companies:

It's worth noting that Fitch has not given Mutual of Omaha a credit rating.

Mutual of Omaha's term life insurance rates are generally affordable, especially for non-smokers. Their rates for a 20-year policy with a $500,000 limit are as follows:

A 35-year-old non-smoking male can expect to pay around $26 per month, while a smoker in the same age group will pay around $107 per month. A 35-year-old non-smoking female will pay approximately $22 per month, while a smoker in the same age group will pay around $91 per month.

As you get older, the cost of life insurance increases, but Mutual of Omaha's rates are relatively competitive for seniors. For a 62-year-old male, the monthly cost for a 10-year policy is around $91, while a female in the same age group will pay around $60 per month.

Here are the rates for Mutual of Omaha's Term Life Express Quotes:

Keep in mind that these rates are for a standard health class, and the best health class offered through Term Life Express is Standard.

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Online Policy Management Tools can be a bit limited for Mutual of Omaha term life insurance. You can get quotes online, but actually buying the policy requires a phone call to an agent.

You'll need to speak with an agent to make major changes to your policy, whether it's a term life or whole life policy.

On a similar theme: Individual Life Insurance Policy

Mutual of Omaha is a good option for Americans over age 40 who want to avoid the medical exam usually required to get life insurance coverage.

If you're over 45 and don't qualify for traditional life insurance, Mutual of Omaha's final expense products can provide coverage.

This makes Mutual of Omaha a great fit for those who need affordable term life insurance options or have been declined for traditional coverage.

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Mutual of Omaha's no-med-exam options are among the best on the market for seniors, making it easier for them to get the coverage they need for final expenses.

Policygenius uses external sources to supplement its data, including government data and reputable news organizations, to ensure accuracy and reliability.

For seniors, Mutual of Omaha's guaranteed issue and simplified issue policies are game-changers, allowing almost anyone to get the coverage they need.

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If you're over 40, Mutual of Omaha is a great option for life insurance. Their Term Life Express policy is an affordable term option that many people can qualify for.

Americans over 45 who don't qualify for traditional life insurance can get coverage through one of Mutual of Omaha's final expense products.

Mutual of Omaha is a good choice for those who want to avoid the medical exam often required for life insurance coverage.

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Mutual of Omaha's Term Life Express product offers no-medical-exam term life coverage, which is unique in that it considers applicants up to age 70.

This feature is particularly beneficial for individuals who may have health concerns or prefer a more straightforward application process.

Mutual of Omaha's inclusion of a rider that waives premiums during a period of unemployment is another unique aspect of their term life insurance policies.