Most seniors are very familiar with Omaha from growing up or raising their children watching the “Mutual of Omaha’s Wild Kingdom” television show.
Mutual of Omaha is aptly named because it too is a mutual (policyholder-owned) insurance company located in Omaha, Nebraska. I know it well, having spent five years with the company as an agent, trainer, and manager.
While the company sells life insurance to people of all ages through its subsidiary, United of Omaha, it primarily targets Baby Boomers and their parents. In addition to life insurance for seniors, Mutual of Omaha is a popular provider of Medicare Supplement policies to seniors, and you may have seen their travel insurance kiosks at the airport.
Focusing on life insurance, Mutual of Omaha offers a wide assortment of life insurance, including term, whole, and universal life. Their prices for permanent insurance are on the higher end of the pricing spectrum, but still competitive.
The insurer shines when it comes to life insurance for seniors. It has become well-known for its “no medical exam” senior whole life insurance policy, which is available to people ages 45-80. The policy is marketed by Mutual of Omaha as being “Final Expense Insurance,” though it is simply a whole life insurance policy with a smaller face amount.
Though a medical exam is not required for their senior life policy, questions concerning your medical history must be answered, and there is no guarantee the policy will be issued.
Mutual of Omaha senior life is an excellent choice for seniors looking for smaller face amounts of life insurance ($5,000 to $25,000) and fairly liberal underwriting and application approval. Its customer service also ranked 3rd highest in J.D. Powers’ 2022 Life Insurance Survey.