Mutual of Omaha Living Promise Review [2024]
Individuals looking for final expense insurance should look into Mutual of Omaha Living Promise life insurance quotes. Applicants do not need to take a medical exam but will be asked questions regarding their medical history. Mutual of Omaha Living Promise life insurance rates will vary depending upon the type of death benefit.
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Michael Leotta
Insurance Operations Specialist
Michael earned a degree in Business Management degree with an insurance focus, which led to a successful 25-year career in insurance claims operations and support. He possesses a high-level of business acumen across multiple areas of the insurance industry. Over the course of his career, he served in multiple roles supporting claims operations including: Claims Specialist, Claims Trainer, Claim Au...
Insurance Operations Specialist
UPDATED: Feb 18, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Feb 18, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- You can apply for a Mutual of Omaha Living Promise policy online
- No medical exam is required
- Individuals with pre-existing health conditions may be denied coverage
You can buy life insurance that won’t expire until you do. A policy like that is what’s known as whole life insurance. Such policies are quite popular as whole life insurance can offer unexpected advantages.
Of course, no two policies are the same. So, if you’re an older individual looking for final expense coverage, how can discerning shoppers like you find policies that are right for them? Individuals interested in finding the best life insurance policy can shop online to find policies to meet their needs.
Fortunately, you can make use of other free online resources and read our free Mutual of Omaha life insurance review to be sure it’s the right life insurance company for you.
If you’re someone who needs reliable and affordable life insurance, Mutual of Omaha Living Promise may be the best choice. Mutual of Omaha insurance is a trusted name in the insurance industry as it has been in business for decades.
You can compare Mutual of Omaha Living Promise life insurance quotes to the competition when you shop online. Enter your ZIP code to get free quotes and discover if Mutual of Omaha Living Promise is the right choice for you.
What is the Mutual of Omaha Living Promise?
Before you run off to buy Mutual of Omaha Living Promise life insurance, you should learn what is and how it can help you.
If you were to glance at a Mutual of Omaha Living Promise brochure, you would most likely note that it is a whole life insurance policy with rates that will never rise. There is also a guarantee that cash value will grow within the policy.
When you fill out a Mutual of Omaha Living Promise application, you’ll discover that the policy:
- Provides a death benefit that never decreases
- Offers insurance free of medical exam
- Designates applicants as being eligible for a level or graded death benefit
- Assists with final expenses
Now, you may be wondering what differences there are between a level and graded death benefit. Let’s examine the two and what each one has to offer you.
Level Death Benefit
Individuals deemed eligible for a level death benefit, live in any state but New York, and are between the ages of 45 and 85 could purchase as little as $2,000 in coverage or as much as $40,000. The policy is guaranteed until the age of 100, and you can add both accelerated death benefit and accidental death benefit riders to the policy.
While these riders shouldn’t be viewed as a Mutual of Omaha medicare supplement, they can certainly be used. Most importantly, the death benefit will be paid to the named beneficiaries if you pass away within two years of purchasing the policy.
Graded Death Benefit
Individuals eligible for a graded death benefit and who live outside of Arkansas, Montana, New York, or North Carolina can purchase anywhere from $2,000 to $20,000 in coverage if they are between the ages of 45 and 80. The Mutual of Omaha Living Promise life insurance rates for a graded death benefit also tend to be more expensive for applicants.
Now, if you were to die within two years of owning this policy, there would be a hold on the death benefit. Instead of the full death benefit, your beneficiaries would only receive the premiums you paid plus the 10% interest earned on those paid premiums. However, if you were to die after owning the policy for two years, your beneficiaries would receive the full death benefit that you had purchased.
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How can individuals apply for a Mutual of Omaha Living Promise policy?
Applying for a Mutual of Omaha Living Promise policy is incredibly simple. If you were to apply online, you could be approved in a matter of minutes. But if you prefer to apply for something as personal as life insurance the old-fashioned way, you can choose to send in a paper application.
This may result in a longer wait time, but typically you shouldn’t have to wait more than a few days for the underwriter to finish processing your paperwork.
The Mutual of Omaha Living Promise Underwriting Guide
While you will not need to give blood or your weight to purchase a Living Promise whole life plan, you will need to answer a few health questions about your medical history. These questions will determine if you are eligible for a level death benefit or a graded death benefit.
For example, if you take medication for diabetes or have had cancer or COPD, you would most likely be offered a graded benefit plan. Individuals who are healthy and don’t have any pre-existing conditions have a better chance of qualifying for a level death benefit.
It is possible to be rejected for coverage altogether, especially if you’re currently being treated for cancer or HIV. If that is the case, looking for a company that offers guaranteed coverage might be a better option for you.
Is Mutual of Omaha life insurance financially strong?
Mutual of Omaha has many financial institutions, like Mutual of Omaha Bank, that have been financially strong for years.
For example, Mutual of Omaha Insurance has an A+ rating from A.M. Best, which is a great sign if you are looking for a reliable company to invest in.
Is Mutual of Omaha customer service well regarded?
It’s always important to study how well a company treats its clients before you decide to do business with it. According to the NAIC, Mutual of Omaha did receive a high number of complaints from clients.
Thankfully, reaching out to a customer service representative can be done by calling Mutual of Omaha’s customer service line, or you can reach out to your local insurance representative directly.
Your life insurance quotes are always free.
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Mutual of Omaha Living Promise: What You Need to Know
With the Mutual of Omaha Living Promise policy, you can prepare for the expenses that come with the end of life. While there isn’t a traditional medical exam, questions about your medical history will be asked. How you answer will determine if you are eligible for a level or graded death benefit.
The Mutual of Omaha Living Promise can relieve a financial burden from your loved ones’ shoulders during a very trying time. However, you can always shop online to find the best life insurance policy for you.
Compare a Mutual of Omaha Living Promise policy to the competition today. Enter your ZIP code below to receive free life insurance quotes today.
Frequently Asked Questions
What is Mutual of Omaha Living Promise Insurance?
Mutual of Omaha Living Promise Insurance is a type of final expense insurance designed to provide coverage for end-of-life expenses, such as funeral costs, medical bills, and other outstanding debts. It offers a simplified underwriting process and is available to individuals aged 45 to 85, making it easier to obtain coverage.
How does Mutual of Omaha Living Promise Insurance work?
Living Promise Insurance provides a death benefit that can help cover final expenses when the insured passes away. The policyholder selects the coverage amount, which typically ranges from $2,000 to $40,000, depending on their needs. Premiums are paid on a regular basis, usually monthly, to keep the policy in force.
Can I qualify for Mutual of Omaha Living Promise Insurance if I have pre-existing health conditions?
Yes, Mutual of Omaha Living Promise Insurance offers guaranteed acceptance, regardless of any pre-existing health conditions. There are no medical exams or health questions involved in the application process.
What is the maximum coverage amount available with Mutual of Omaha Living Promise Insurance?
The maximum coverage amount available with Mutual of Omaha Living Promise Insurance is $40,000. However, the coverage amount can vary depending on the policyholder’s age and state of residence.
Can I cancel my Mutual of Omaha Living Promise Insurance policy?
Yes, you can cancel your Mutual of Omaha Living Promise Insurance policy at any time. Depending on the policy terms, you may be eligible for a partial refund of premiums paid. It’s important to review the policy details or contact a Mutual of Omaha representative for specific information regarding cancellation and refund options.
Your life insurance quotes are always free.
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Michael Leotta
Insurance Operations Specialist
Michael earned a degree in Business Management degree with an insurance focus, which led to a successful 25-year career in insurance claims operations and support. He possesses a high-level of business acumen across multiple areas of the insurance industry. Over the course of his career, he served in multiple roles supporting claims operations including: Claims Specialist, Claims Trainer, Claim Au...
Insurance Operations Specialist
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
