About Mutual of Omaha
Mutual of Omaha is one of America's most trusted insurance companies, founded in 1909 and headquartered in Omaha, Nebraska. With over 115 years of experience and an A+ (Superior) rating from AM Best, they are considered one of the most financially stable insurance companies in the USA.
For seniors specifically, Mutual of Omaha offers:
- Living Promise Whole Life — Their most popular final expense policy
- Term Life Express — No exam term life insurance
- Guaranteed Whole Life — No health questions version
- Medicare Supplement — Additional health coverage
Mutual of Omaha has received the Forbes Best Insurance Company award and holds an A+ rating from AM Best — the highest financial strength rating available in insurance.
Mutual of Omaha Rates 2026
Here are Mutual of Omaha's average monthly rates for their Living Promise Final Expense policy — their most popular senior product:
Male Rates — $10,000 Coverage
| Age | Level Benefit (Healthy) | Graded Benefit | Industry Average |
|---|---|---|---|
| 50 | $28/mo | $35/mo | $30/mo |
| 55 | $33/mo | $42/mo | $36/mo |
| 60 | $41/mo | $52/mo | $44/mo |
| 65 | $52/mo | $66/mo | $56/mo |
| 70 | $68/mo | $88/mo | $75/mo |
| 75 | $92/mo | $118/mo | $105/mo |
| 80 | $128/mo | $162/mo | $145/mo |
Female Rates — $10,000 Coverage
| Age | Level Benefit (Healthy) | Graded Benefit | Industry Average |
|---|---|---|---|
| 50 | $22/mo | $28/mo | $25/mo |
| 55 | $26/mo | $33/mo | $29/mo |
| 60 | $32/mo | $41/mo | $36/mo |
| 65 | $40/mo | $52/mo | $45/mo |
| 70 | $52/mo | $68/mo | $58/mo |
| 75 | $71/mo | $92/mo | $80/mo |
| 80 | $98/mo | $128/mo | $112/mo |
Living Promise Policy — Key Features
- Coverage Amount: $2,000 to $40,000
- Age Range: 45 to 85 years old
- No Medical Exam: Just health questions
- Level Benefit: No waiting period for healthy applicants
- Fixed Premiums: Never increases — locked in for life
- Cash Value: Builds over time, can borrow against
- Approval: Often within 24 hours
- All 50 States: Available nationwide
Health Conditions Accepted
Mutual of Omaha's Level Benefit plan accepts many common health conditions:
- Type 2 Diabetes (controlled)
- High blood pressure
- High cholesterol
- Asthma and COPD (mild)
- Arthritis
- Past heart attack (2+ years ago)
- Past stroke (2+ years ago)
- Obesity
Mutual of Omaha Pros
- A+ Financial Rating: One of the strongest companies in USA
- Competitive Rates: Among the lowest in the industry
- No Waiting Period: Level benefit starts immediately
- No Medical Exam: Simple health questions only
- 115 Years in Business: Extremely stable and trusted
- Fast Approval: Often approved within 24 hours
- Excellent Customer Service: Highly rated by policyholders
- Available Ages 45-85: Wide age range accepted
Mutual of Omaha Cons
- Max Coverage $40,000: Not ideal for large coverage needs
- Stricter Health Questions: Level benefit requires good health
- Graded Benefit Waiting Period: 2 years for some health conditions
- Not the Cheapest: Some niche carriers may be slightly cheaper
Mutual of Omaha vs Competitors
| Company | $10K Age 70 (Male) | Waiting Period | AM Best Rating | Our Rating |
|---|---|---|---|---|
| Mutual of Omaha | $68/mo | None (level) | A+ | ⭐⭐⭐⭐⭐ |
| Transamerica | $65/mo | None | A | ⭐⭐⭐⭐⭐ |
| Foresters Financial | $63/mo | None | A | ⭐⭐⭐⭐⭐ |
| AARP/New York Life | $95/mo | None | A++ | ⭐⭐⭐⭐ |
| Colonial Penn | $129/mo | 2 years | A- | ⭐⭐⭐ |
Mutual of Omaha is genuinely one of the best senior life insurance companies in America in 2026. Their combination of competitive pricing, A+ financial strength, no waiting period, and excellent customer service makes them our top recommendation for most seniors. If you are in reasonably good health and aged 45–80, Mutual of Omaha's Living Promise policy should be at the top of your comparison list.
Frequently Asked Questions
Is Mutual of Omaha a good life insurance company?
Yes — Mutual of Omaha is one of the most financially stable and highly rated insurance companies in America. With 115 years in business, an A+ AM Best rating, and consistently competitive rates, they are an excellent choice for senior life insurance.
Does Mutual of Omaha require a medical exam?
No — their Living Promise Final Expense policy requires no medical exam. You simply answer health questions over the phone or online. Most applicants in reasonable health qualify for the Level Benefit plan with no waiting period.
What is the maximum coverage with Mutual of Omaha?
Mutual of Omaha's Living Promise policy offers up to $40,000 in final expense coverage. For larger coverage needs, they also offer term life insurance with much higher limits.
How fast is Mutual of Omaha approval?
Most applicants receive a decision within 24 hours. The application process takes about 10–15 minutes over the phone with a licensed agent.
Is Mutual of Omaha better than AARP?
For most seniors, yes. Mutual of Omaha offers similar or better coverage at rates that are typically 25-35% lower than AARP/New York Life, with no membership fee required.
