Mutual of Omaha Final Expense Insurance Review

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  • Post last modified:August 9, 2021

Mutual of Omaha is an insurance provider that offers you final expense insurance, term insurance, and other insurance policies.

This company has been in the business since 1909, helping people, especially seniors, live peaceful life.

The final expense life insurance is one of their best insurance policies that offer features and benefits which you don’t get from other organizations.

It is the best way to help your family pay for end-of-life expenses when you are unable to help your loved ones. They can use this money for medical expenses, funeral expenditures, or other needs.

Read this Mutual of Omaha final expense insurance review to learn why you should consider them and how it can benefit you.

Features of Final Expense Insurance by Mutual of Omaha

Mutual of Omaha review

Mutual of Omaha offers you final expense life insurance, which is a permanent life insurance policy.

This company has designed the insurance plan in a way that it can support your family after your death.

Your family can use the money to pay for end-of-life expenses and other necessary expenses. Not to mention, they also have access to a cash value in case of emergencies.

There are several features of this final expense policy that you need to know.

Let’s discuss them briefly.

Guaranteed Coverage

Mutual of Omaha offers you guaranteed coverage, no matter if you die few years after buying the coverage or decades after buying it.

This way, you can leave enough money for your family so that they don’t have to face any problems paying your medical or funeral expenses.

Steady Premiums

Unlike other insurance policies, this organization guarantees you steady premiums.

This means whether you have insurance for a month or several years, you have to pay the same premium amount. Your premiums will not increase.

Tax-Free Investment

Another feature of their death benefit insurance policy is that your investment grows on a tax-differed basis.

This means all your cash money will grow tax-free, which saves your money from getting deducted because of tax.

Usable Cash

This is the major feature that differentiates Mutual of Omaha from other insurance providers.

You have the authority to use the premiums you have paid or the cash value of your insurance for any emergency.

Advantages of Purchasing Omaha Final Expense Insurance

Here are some advantages of purchasing this burial expense life insurance.

Designed for Seniors

Many people are not able to access insurance policies because of their age and health. But this company has designed final expense life insurance for seniors between the ages of 45 and 85.

Moreover, people between the ages of 50 and 75 who live in New York can purchase this insurance.

Excellent Death Benefit

If you apply for Mutual of Omaha’s insurance plan, you will get $2,000 to $25,000 as a death benefit.

Hence, it offers you a death benefit with lower monthly premiums. The best part is that your beneficiaries do not have any restrictions to use it for any particular purpose.

In other words, they can spend this money on anything they want.

Affordable Premiums

The premiums are pretty affordable, and you can get a quote depending on your preferences.

Plus, the premiums remain the same your entire life. This means you don’t need to worry about financial issues in the future.

Disadvantages of Purchasing Omaha Final Expense Insurance

Although this whole life insurance gives you plenty of features and advantages, it also has some drawbacks for certain people.

Here is what you need to know.

Age Limitation

The age limitation is the major drawback of this insurance plan, as seniors aged between 45 and 85 can purchase it. This means seniors above 85 cannot purchase whole life insurance.

Plus, if your hometown is New York and you are above 75, you can’t purchase the policy.

Less Benefit Amount

Like all other insurance plans, the death benefit of this policy is not more than $25,000.

The minimum death benefit you can get is $2,000. This money is less for the people who want to leave a great lump sum for their family after death.

Mutual of Omaha Burial Insurance Quotes


After knowing about the features of Mutual of Omaha coverage, you might want to purchase it.

But before that, you can take a quote for your insurance policy from their website or by using our comparison tool.

This will help you determine the amount of coverage you will get depending on your preferred premiums and your age and health.

Is There Any Waiting Period?

You must know that this life insurance has a waiting period. To make it clear, you will not get the complete death benefit amount before two years.

So, no matter the reason for your death, this policy offers death benefits after two years from the date of purchasing the policy.

The best part of the final expense insurance plan is that the policy doesn’t get canceled if you die in an accident.

So, if you die from an accidental injury, your beneficiaries will also get the premiums you have paid and interest on that amount, i.e., full death benefit.

There is No Medical Exam

Medical exams and tests are the most common concerns of seniors who want to purchase an insurance policy.

This is because the procedure to pass the medical exam is challenging for people, especially seniors. You need to go through several appointments and tests to ensure the company that you are completely healthy and fit.

Furthermore, if you have any medical condition, there are more chances that you will not be eligible to purchase any excellent insurance policy, especially term insurance.

Mutual of Omaha aims to give peace of mind to its customers. This is why they have designed the final expense insurance that can facilitate people without requiring them to go through extensive medical exams.

Another thing you need to know is that there will be no medical tests in order to verify your health condition to purchase the insurance.

Hence, the application process is simple, straightforward, and easy.

Health Questions

There is a simple questionnaire that you need to fill in order to apply for the policy. This questionnaire also includes two parts for health questions.

These are simple questions that only help to determine the type of disease or level of health problems you are struggling with.

Additionally, you only need to answer Yes or No.

Here is brief information about the questions that you may have to answer.

Part One

In this part of health questions, they will ask you several questions related to your lifestyle that can get affected by your health problem.

The following are some questions that you can find on the questionnaire.

  • Have you hired any type of nursing facility?
  • Are you receiving home health care?
  • Do you need help with any kind of regular activities, such as dressing, eating, bathing, taking medicine, or getting in or out?
  • Do you need any wheelchair, electric scooter, or oxygen equipment?

You may have to also answer the following disease-related questions.

  • Are you suffering from HIV, AIDS, or an AIDS-related complex?
  • Do you have any mental incapacity, dementia, Alzheimer’s, hunting’s disease, or paraplegia?
  • Have you ever gone through insulin shock, diabetic coma, or amputation because of disease?
  • Has your health provider advised you to get a tissue, bone marrow, or organ transplant?
  • Do you have terminal conditions that can become the cause of your death?

Part Two

This part also comprises several questions, all related to the possible diseases a person can develop.

Here are some of the questions that you may have to answer.

  • Have you ever been treated, diagnosed, or suggested to get treatment for hepatitis C, diabetes, emphysema, sarcoidosis, chronic lung disease, nephropathy, retinopathy, and neuropathy?
  • Have you been diagnosed, treated, or need to get treatment for bipolar disease, cancer, chronic kidney disease, Parkinson’s disease, or systemic lupus?
  • In the last 24 months, did you get the treatment or asked to receive treatment for coronary artery disease, surgical repair, stroke or mini-stroke, heart attack, or irregular heart rhythm?
  • Have you experienced 10 pounds or more weight loss in the last 12 months?

Living Promise Policy Riders

Mutual of Omaha also offers you a living promise policy riders. However, it is important to note that not all US states have access to all three riders.

The company has introduced one option rider and three built-in riders. Living promise final expense offers you the following riders.

Plus, you don’t need to pay for them.

Terminal Illness

If the health provider has suggested treatment for a terminal illness and you only have less than 12 months to live, you can get more than 50% of your death benefit when you are alive.

Moreover, the amount you use will get reduced from the total amount of death benefit.

Nursing Home Confinement

You can claim more than 50% of your death benefit if you have been taking nursing home services for more than 90 consecutive days.

When it comes to its optional rider, it is an accidental death rider that you can purchase. This policy rider will double your death benefit if you die in an accident.

Why Should You Consider Mutual of Omaha?

Mutual of Omaha is the best insurance provider that has an objective to provide services to people so that they can live a peaceful life. You don’t have to worry about what will happen to your family after your death.

Not only do you have the opportunity to support your loved ones financially, but the insurance policy is also affordable and achievable.

No matter your age and health, you can apply for a secure and protective insurance policy.

Besides that, Mutual of Omaha has been providing its services since 1909. This company is credible and authentic to invest great money to use in the time of need. The company has an A+ rating from AB Best.

We understand that it’s challenging to discuss your concerns and problems with other health providers. This leads to wrong decisions regarding the monthly premiums or amount of death benefit.

However, if you do business with Mutual of Omaha insurance providers, you don’t have to face any problems throughout the insurance policy time period.

The following are some more reasons to consider for buying the Mutual of Omaha insurance policy.

  • The premiums will remain the same.
  • You have access to their online customer service.
  • They allow you to choose a premium and death benefit depending on your need.
  • This company provides you with guidance for funeral expenses.

How to Apply?

So, if you want to purchase Mutual of Omaha final expense insurance, you need professional help.

We offer you free quotes that help you determine the death benefit according to your chosen premium. This way, you get the time to estimate all the factors before purchasing permanent life insurance.

We have a skilled and experienced team that gives you guidance throughout the process.

With the help of our agency, you can also determine other possible life insurance policies for you offered by Mutual of Omaha.

Hence, it’s better to take help from experienced professionals than to make wrong decisions.

Linda Chavez

I'm a burial & senior life insurance expert, independent agent, Founder & CEO of Seniors Life Insurance Finder. I have been working in this sector since 2004 and established my own company in 2014. I have a team of seven members, and we are trying hard to share the knowledge we've gathered. We know how difficult often it is to find an affordable policy. Hence, we are doing our best to help you.