United of Omaha Life Insurance Review [2021]

United of Omaha Life Insurance Company offers life insurance with a variety of features and life insurance riders. A Mutual of Omaha subsidiary, United of Omaha Life Insurance ratings are strong and suggest solid financial standing. United of Omaha life insurance quotes for term life insurance policies start at just $9.07 per month.

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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: Dec 30, 2020

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United of Omaha Life Insurance Company Overview
Key InfoCompany Specifics
Year Founded1909
Current ExecutivesCEO - James Blackledge
CFO - Rick Hrabchak
VP - Stephen Abels
Number of Employees6,314
Total Sales / Total Assets$10,400,000,000 / $50,200,000,000
HQ Address3300 Mutual of Omaha Plaza, Omaha, NE 68175
Phone Number1-800-228-7104
Company Websitewww.mutualofomaha.com
Financial Standing$3,100,000,000
Best ForOverall, Just Quit Smoking
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United of Omaha Life Insurance Company takes a careful approach to business decisions, which reflects in their A+ A.M. Best Rating. They offer various term life insurance policies and life insurance riders that are important to consider when shopping for term life insurance quotes. 

We know there are countless life insurance companies to choose from. That’s why we’ll help inform you of the available policies, let you know how to get insured, and how to contact customer service.

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What should I know about United of Omaha?

United of Omaha Life Insurance Company, or United of Omaha Insurance Company, is a Mutual of Omaha company (not called Mutual of Omaha Life Insurance). Are United of Omaha and Mutual of Omaha the same company? Not entirely, but they are related.

As a mutual company owned by policyholders, the company takes a more conservative approach to investments and business decisions and is not driven by the short-term quarterly results that often characterize publicly traded companies.

Is United of Omaha Life Insurance Company legitimate? Mutual of Omaha is a legitimate company that has been accredited by the Better Business Bureau since 1940.

Their capital position is quite strong with more than 2.2 billion in statutory surplus. Mutual of Omaha is also a Fortune 500 company. Use your login to get access to your account.

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What are company ratings?

Founded in 1909, United of Omaha Life Insurance ratings are strong. The company has well-rounded ratings from industry leaders like A.M. Best, Standard & Poor, and J.D. Power.

A.M. Best Rating:  A+ (as of 2020)

S&P Rating:  AA- (as of 2020)

J.D. Power Ranking: 795 – 3rd of 24 companies (as of 2019)

As you can see, the ratings and awards suggest good customer satisfaction. The top 153 reviews average out to be 3.8 out of 5 according to consumer affairs.

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The reviews suggests the company is good but not perfect. Mutual of Omaha reviews from the Better Business Bureau stands at a 1.4 out of 5.

There are 34 complaints against the company in the past 12 months. The Mutual of Omaha complaints and customer satisfaction are worth keeping an eye on.

How can I contact company customer service?

Should you decide to purchase a United of Omaha policy, you may need to contact their customer service department. Below are the company address and phone number.

3300 Mutual of Omaha Plaza
Omaha, NE 68175

1-866-293-8529

The United of Omaha life insurance company fax number is:

1-402-997-1800

Calling the company may be the best way to file claims. You can always visit the Mutual of Omaha website to find more specific details about the company or to speak to an agent.

United of Omaha Company Documents

Customer GuideLife Insurance for the LivingFinancial StrengthSpanish Guide

What life insurance policies does United of Omaha have?

At the end of the day, most companies rely on certain policies. The company is most well-known for its term life policies.

Term Life Express (TLE) products are issued on a simplified underwriting basis, which means you get a decision and coverage (if approved) faster.

TLE 10: Term life with level premiums during the initial 10-year period. Premiums increase annually in years 11 and later.

TLE 15: Term life with level premiums during the initial 15-year period. Premiums increase annually in years 16 and later.

TLE 20: Term life with level premiums during the initial 20-year period. Premiums increase annually in years 21 and later.

TLE 30: Term life  with level premiums during the initial 30-year period. Premiums increase annually in years 31 and later.

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The company has your standard term life options. Mutual of Omaha also offers whole life and universal life if you are looking for a form of permanent life insurance.

If you aren’t sure about which policy type is better, you’ll want to learn about term vs permanent life insurance.

What features does United of Omaha include in their term life policies?

The insurer offers an assortment of helpful riders to meet the needs of a variety of customers.

  • Living Benefit Riders: Included at no extra cost. The definition of chronic, terminal, and critical illness may vary by state. Some policyholders might want term life insurance with living benefits.
    • Terminal Illness Rider: This rider provides an accelerated death benefit if the Primary Insured provides evidence that their life expectancy is 12 months or less. The sum of all requested accelerations cannot exceed 80 percent of the policy’s face amount.
    • Chronic Illness Rider: This rider provides an accelerated death benefit if the Primary Insured is unable to perform 2 of 6 Activities of Daily Living (ADLs) for 90 consecutive days, as certified by their physician. The sum of all requested accelerations cannot exceed 80 percent of the policy’s face amount.
    • Critical Illness Rider: This rider provides an accelerated death benefit if the Primary Insured has been certified by a physician as having one or more of the following conditions within the last 12 months: ALS, kidney failure, life-threatening cancer, major organ failure, heart attack, and stroke.
    • Common Carrier Death Benefit Provision: Included at no extra cost. This provides an additional death benefit equal to 100 percent of the original face amount or $250,000, whichever is less. If the base insured should die in an accident while a fare-paying passenger on a common carrier (e.g., airplane, train, bus) they will pay the beneficiary the additional amount.
  • Conversion Option:  Included at no extra cost. The policy is convertible to a qualified permanent policy after policy year two through the lessor of (a) the end of the level term period or (b) the policy anniversary following the Primary Insured’s 70th birthday.

What are the optional term life features?

  • Accidental Death Benefit Rider: Available with extra premium. This rider pays an additional sum if the Primary Insured dies as the result of an accident. The rider terminates and the premiums stop at the earlier of the end of the level period or the anniversary date of the policy following the insured attaining age 65.
  • Dependent Children’s Rider: Available with extra premium. This rider provides coverage for all unmarried dependent children (age 15 days through 20 years) who are members of the insured’s household and listed in the application.
    • Dependent children born or adopted after the issue of this rider are included automatically when they attain the age of 15 days. Coverage amounts are $5,000 and $10,000.
    • The Dependent Children’s rider terminates and the premiums stop at the earlier of the anniversary date following the Primary Insured’s age 65, when the youngest child attains age 23 or when the base policy terminates.
  • Disability Income Rider: Available with extra premium. With this rider, the Primary Insured can apply for a maximum monthly disability income benefit equal to the lesser of:
    • 1.5 percent of the policy coverage amount at issue
    • $3,000 per month
    • 60 percent of your monthly gross income

The Primary Insured can apply for either an 18- or 30-month benefit. The monthly income amount and the benefit period cannot be changed after the policy issue. The elimination period is 90 days (in MD, 120-day elimination period.)

  • Disability Waiver of Premium Rider: Available with extra premium. If the Primary Insured becomes disabled before the policy anniversary following his or her 60th birthday and the disability continues for at least six months, this rider will waive payment of the monthly deduction amount during the continuance of the disability.

As you can see, there are many additional options to consider including in United of Omaha Life Insurance policies.

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How much does United of Omaha Life Insurance cost?

The company’s rates are competitive and they have a strong financial standing to provide comfort to policyholders. This is a benefit of being a mutual company.

Mutual of Omaha Term Life Rates vs Top Life Insurance Companies
Companies$100,000, 20-Year (Male - 40)$250,000, 20-Year (Male - 40)$500,000, 20-Year (Male - 40)
Minnesota Life$11.04$21.00$31.18
MassMutual$12.53$20.68$33.08
State Farm$21.40$33.72$54.79
Prudential$17.50$24.50$41.57
Mutual of Omaha$14.49$20.64$32.90
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As you can see above, Mutual of Omaha has rates that are comparable to some of the best companies. These rates show that United of Omaha is more cost-efficient with higher policy face values.

Comparison of Mutual of Omaha Life Insurance Rates
 $100,000, 20-Year$250,000, 20-Year$500,000, 20-Year
Male (40/Non-smoker)$14.49$20.64$32.90
Female (40/Non-Smoker)$13.20$17.63$28.17
Male (40/Smoker)$48.84$78.69$149.00
Female (40/Smoker)$37.37$60.85$113.31
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Life insurance companies will always have higher rates for males compared to females and smokers compared to non-smokers. Above you can see how gender and smoking affect your rates.

What is the company’s legal info?

Policy Exclusions

The policy’s face amount will not be paid if your death results from suicide, while sane or insane, within two years of the date of issue (in CO, MO, and ND, within one year). Instead, the company will pay the sum of premiums paid since the issue.

In MO, benefits will be paid for all causes of death unless evidence shows that suicide was intended at the time of purchase.

United of Omaha Policy Forms

10-year level term: D543LNA15DP, or state equivalent.ICC15L136DP in ID, LA, NC, OK, OR, PA, TX & WA. In FL, D543LNA15DP.

15-year level term: B630LNA07P, or state equivalent. ICC13L116P in ID, LA, NC, OK, OR, PA, TX & WA. In FL, B650LFL07P.

20-year level term: B628LNA07P, or state equivalent. ICC13L116P in ID, LA, NC, OK, OR, PA, TX & WA. In FL, B648LFL07P.

30-year level term: B634LNA07P, or state equivalent. ICC13L116P in ID, LA, NC, OK, OR, PA, TX & WA. In FL, B654LFL07P.

United of Omaha Life Insurance Company: What’s the bottom line?

This company review covered their strong financial standing, mixed customer reviews, and the assortment of term life options and plentiful riders that the company offers.

Did our review answer all your questions? Ready to buy life insurance? Get started today by comparing top life insurance companies using our FREE quote tool below.

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