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

American National vs. Mutual of Omaha life insurance rates are competitive but favor Mutual of Omaha slightly, and A.M. Best ratings for American National vs. Mutual of Omaha are also in favor of Mutual of Omaha. The Mutual of Omaha and American National customer complaints and reviews suggest both companies are trustworthy and handle claims quickly.

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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: Jun 9, 2021

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Quick Facts

  • When it comes to American National vs. Mutual of Omaha life insurance rates, Mutual of Omaha is cheaper
  • The financial ratings are strong for American National but even stronger for Mutual of Omaha
  • American National and Mutual of Omaha each have an assortment of life insurance options to choose from

If you’re looking for the best term life insurance quotes, you might want to consider comparing American National vs. Mutual of Omaha. Each company has an impressive history of growth and productivity.

Comparing life insurance companies can save you a lot of money. We’ll help you save by comparing American National vs. Mutual of Omaha life insurance rates, financial strength ratings, and more.

Wondering if you’ll qualify for affordable American National vs. Mutual of Omaha life insurance rates? Get personalized rates from other top life insurance companies using our free quote tool above.

American National vs. Mutual of Omaha: Which is the best life insurance company?

American National and Mutual of Omaha could be considered among the best life insurance companies. Ranking the top life insurance companies is challenging because of many different factors.

Is Mutual of Omaha life insurance any good? We’ll help you decide by providing information on things like rates, ratings, consumer complaints, and types of life insurance policies. Together, these can help you decide.

Is American National a good insurance company? We’ll provide you the same detailed information about American National that we do in our Mutual of Omaha life insurance review.

It’s worth noting that American National has operated since the early 1900s and has experienced significant growth. This suggests that the company has reasonable rates and customer service. We’ll dig deeper below.

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American National vs. Mutual of Omaha: Which life insurance company is cheapest?

Finding affordable American National vs. Mutual of Omaha life insurance starts with choosing the right life insurance policy. With American National and Mutual of Omaha, you’ll have a few options.

Both life insurance providers offer term life insurance, whole life insurance, and universal life insurance options. Typically, term life insurance will be the most affordable.

Sample American National Life Insurance Average Monthly Rates by Age, Gender, and Coverage
Gender and CoverageAge 25 Average Monthly Rates Age 35 Average Monthly Rates Age 45 Average Monthly Rates Age 55 Average Monthly Rates
$100,000: 20-Year Term (Male)$15.98$16.68$30.76$65.06
$100,000: 20-Year Term (Female)$14.17$15.81$24.80$47.17
$250,000: 20-Year Term (Male)$13.61$15.12$29.16$66.10
$250,000: 20-Year Term (Female)$12.31$14.04$23.98$52.92
$500,000: 20-Year Term (Male)$20.74$23.33$50.11$122.26
$500,000: 20-Year Term (Female)$18.58$20.74$41.04$95.90
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You’ll see above that American National’s term life insurance rates come fairly cheap, starting near $12/month. These rates tend to be higher for older adults and are a little more affordable for women compared to men.

Sample Mutual of Omaha Life Insurance Average Monthly Rates by Age, Gender, and Coverage
Gender and CoverageAge 25 Average Monthly Rates Age 35 Average Monthly Rates Age 45 Average Monthly Rates Age 55 Average Monthly Rates
$100,000: 20-Year Term (Male)$10.88$11.48$19.14$40.98
$100,000: 20-Year Term (Female)$10.36$10.97$16.81$31.78
$250,000: 20-Year Term (Male)$13.33$14.84$30.75$72.24
$250,000: 20-Year Term (Female)$12.04$13.76$25.16$54.91
$500,000: 20-Year Term (Male)$21.29$23.44$53.11$134.81
$500,000: 20-Year Term (Female)$17.85$20.00$41.93$98.69
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Mutual of Omaha is even more affordable than American National. Mutual of Omaha life insurance policies start closer to $10/month and adhere to modest price increases that are comparable to American National.

Average American National vs. Mutual of Omaha Monthly Life Insurance Rates by Age, Gender, and Term Length for $250,000
Age and Gender10-Year Term (American National) Average Monthly Rates10-Year Term (Mutual of Omaha) Average Monthly Rates20-Year Term (American National) Average Monthly Rates20-Year Term (Mutual of Omaha) Average Monthly Rates
25 - Male$10.37$11.18$13.61$13.33
25 - Female$9.94$9.89$12.31$12.04
35 - Male$11.02$13.12$15.12$14.84
35 - Female$10.37$11.40$14.04$13.76
45 - Male$18.14$18.06$29.16$30.75
45 - Female$16.63$15.91$23.98$25.16
55 - Male$40.61$41.50$66.10$72.24
55 - Female $30.67$31.39$52.92$54.61
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Upon further review, you’ll notice that the life insurance rates between American National and Mutual of Omaha are actually very similar. The biggest difference comes with $100,000 worth of coverage.

For most people, $250,000 or more is necessary for financial security. If you aren’t sure how much life insurance coverage you need, use our term life insurance calculator.

American National vs. Mutual of Omaha: Which company has better financial strength ratings?

Even if you’ve found the best life insurance rates, you want to consider how reliable the life insurance provider is. This means researching each company’s financial strength, reviews, and complaints.

In this case, we’ve mentioned that you might find cheaper Mutual of Omaha rates, but you’ll want to learn more about Mutual of Omaha life insurance before you commit to payments that could last for upwards of 30 years.

Ratings Comparison for American National vs. Mutual of Omaha
Ratings AgencyAmerican National RatingMutual of Omaha Rating
A.M. BestAA+
Moody's RatingsN/AA1
Standard & Poor's (S&P)AA+
J.D. PowerN/A789
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Comparing the American National vs. Mutual of Omaha life insurance ratings suggests that you’re in good hands with either company from a financial standpoint.

Although American National holds an inferior rating via A.M. Best when compared to Mutual of Omaha, both companies have at least an “A” rating, representing “excellent” financial standing.

If you’re looking for American National or Mutual of Omaha reviews, organizations like the Better Business Bureau and J.D. Power often provide reliable information.

Mutual of Omaha is highly ranked for customer satisfaction according to J.D. Power. This suggests the Mutual of Omaha complaints are kept to a minimum or resolved promptly. J.D. Power hasn’t ranked American National.

Although American National isn’t ranked via J.D. Power, its NAIC complaint index score is much lower than average, suggesting strong customer service as well.

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In many cases, convenience with account management, claims, and customer service can help improve customer satisfaction. American National and Mutual of Omaha both have mobile apps for convenience.

You can also submit claims using your American National login or by using the American National life insurance phone number. Mutual of Omaha offers the same convenient features.

American National vs. Mutual of Omaha: What are the pros and cons?

When reviewing the American National vs. Mutual of Omaha life insurance company details, there’s a lot to like. Both companies have a rich history and strong policy options.

Each company does have more to offer than life insurance. For example, you could look into an American National annuity instead of life insurance.

If you have additional healthcare needs, you might be interested in purchasing a Mutual of Omaha medicare supplement. These are nice luxuries that you can learn more about by talking to each company’s customer service team.

To help you choose the best life insurance company for your needs, we’ll highlight some key points from our American National vs. Mutual of Omaha insurance comparison below.

Pros

  • Strong financial ratings (both companies – edge to Mutual of Omaha)
  • Competitive rates (both companies – edge to Mutual of Omaha)
  • Strong policy options (both companies – edge to American National)
  • Strong customer satisfaction (both companies)

Cons

  • Not BBB Accredited (American National)

American National and Mutual of Omaha have quite a bit to offer with very few drawbacks. Choosing between American National vs. Mutual of Omaha life insurance will come down to personal preference and life insurance needs.

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American National vs. Mutual of Omaha: The Bottom Line

Comparing companies like American National and Mutual of Omaha can help you find a diamond in the rough. Competitive rates, good customer service, and strong financial standings are all great signs.

You’ve seen American National vs. Mutual of Omaha life insurance quotes, but you might find better options. Get rates from top life insurance providers in minutes using our free quote tool below.

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