American Amicable vs. Mutual of Omaha: Best Life Insurance Company in 2021

In a comparison of American Amicable vs. Mutual of Omaha, Mutual of Omaha came out on top. Mutual of Omaha offers more affordable rates to men and women of various ages. Mutual of Omaha also has the higher A.M. Best rating. However, both companies have an identical rating from the Better Business Bureau.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: May 11, 2021

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Quick Facts

  • Mutual of Omaha life insurance is more affordable for men and women of various ages than American Amicable products
  • Both companies have positive reviews with the Better Business Bureau
  • Mutual of Omaha is more well-reviewed by A.M. Best

The process of comparing life insurance companies can prove to be overwhelming. To reduce the stress of this process, we’ll be focusing exclusively on American Amicable vs. Mutual of Omaha today.

In our Mutual of Omaha vs. American Amicable life insurance review, we’ll be covering both company pricing and company ratings.

Before we dive into our American Amicable vs. Mutual of Omaha Life Insurance comparison, make sure to type your ZIP code into our free and helpful tool above. With this, you’ll see the cheapest rates in your area.

American Amicable vs. Mutual of Omaha: Which company offers more affordable rates to women?

When beginning a life insurance company comparison, the first thing most people want to know about is pricing.

Let’s take a look at a table that shows the rates offered to women for a 20-year $250,000 term life insurance policy.

Sample Average Female Monthly Life Insurance Rates for a 20-year term $250,000 Policy by Age and Company
CompanyAge 50 Average Monthly RatesAge 60 Average Monthly Rates
American Amicable$58.50$136.35
 Banner $31.17 $78.83
Cincinnati Life $27.28$56.76
Fidelity Life $45.68$58.32
 Foresters $31.94 $85.97
John Hancock$33.92$78.08
Liberty Mutual$32.94$59.76
 Lincoln $32.77 $160.13
 Mutual of Omaha $36.05 $94.02
Haven Life$21.54$48.09
MassMutual$31.08$63.58
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Is it easy to find affordable American Amicable vs. Mutual of Omaha life insurance quotes? As you can see, for women in their 50s, American Amicable is over $22 more expensive per month than Mutual of Omaha.

For women in their 60s, the difference is more significant. Mutual of Omaha is $42 cheaper per month than American Amicable.

In short, our American Amicable vs. Mutual of Omaha life insurance review shows that Mutual of Omaha absolutely offers more affordable rates to women of various ages.

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Which company offers more affordable rates to men?

We’re now going to engage in a process similar to what we did in the last section. This time, however, the table will show the rates offered to men of various ages for a 20-year term life insurance policy valued at $250,000.

Sample Average Male Monthly Life Insurance Rates for a 20-year term $250,000 Policy by Age and Company
Company Age 50 Average Monthly RatesAge 60 Average Monthly Rates
Accordia Life$56.07$153.53
American Amicable$87.75$190.35
Banner $40.85 $111.13
Cincinnati Life$27.28$56.76
Fidelity Life $54.59$73.92
 Foresters $42.66 $114.84
Liberty Mutual$40.32$95.58
 Lincoln $46.55 $190.53
Mutual of Omaha $46.55 $134.05
Haven Life$25.72$65.77
John Hancock$44.47$115.00
MassMutual$37.59$87.42
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Look at American Amicable vs. Mutual of Omaha life insurance rates for men in their 50s where Mutual of Omaha is over $41 cheaper per month than American Amicable.

For men in their 60s, American Amicable is over $56 more expensive per month than Mutual of Omaha.

So, our American Amicable vs. Mutual of Omaha Life Insurance Company comparison has shown that the latter wins again. Let’s wrap up with company ratings to see if Mutual of Omaha can sweep this thing.

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American Amicable vs. Mutual of Omaha: Which company is more well-reviewed?

We’re now going to look at American Amicable life insurance reviews and Mutual of Omaha reviews provided by A.M. Best and the Better Business Bureau (BBB).

The Better Business Bureau’s rating scale goes from the highest score of “A+” down to the lowest score of “F.” American Amicable received the Better Business Bureau’s highest rating of “A+,” and the company is also BBB accredited.

What score did the Better Business Bureau give Mutual of Omaha? It turns out that Mutual of Omaha not only has the same rating but also holds accreditation as well.

A.M. Best’s Financial Strength Rating (FSR) scale is slightly different in that it ranges from “A++” down to “D.”

American Amicable has an A.M. Best FSR of “A-” (Excellent). Mutual of Omaha received an even better rating of “A+” (Superior).

A.M. Best also has what is called Long-Term Issuer Credit Ratings (Long-Term ICR). A Long-Term ICR can be issued on a long-term basis or short-term basis.

American Amicable received a long-term ICR rating of “a-.” Did Mutual of Omaha receive the same score? Actually, they received an even higher rating of “aa-.”

In summary, you have two very worthy options here, but Mutual of Omaha stands above American Amicable. What’s great is that you can also get a Mutual of Omaha Medicare supplement if this is something you might need.

You now should have all the information you need to decide whether to buy American Amicable vs. Mutual of Omaha life insurance.

Don’t let your life insurance comparison stop with this American Amicable vs. Mutual of Omaha life insurance review. Type your ZIP code into our free and helpful tool below to find affordable life insurance quotes in your area.

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