Let’s consider the overall performance and company profile of Mutual of Omaha in a quick manner! Mutual of Omaha was founded in 1909 and its headquarters lies outside Omaha, in Nebraska. Mutual of Omaha life insurance for seniors tops the charts for the year 2023. It has a great reputation with the ratings.
- AM Best Ratings A+
- Moody’s A1
- S&P Global A+
It has the much needed financial stability and huge market share percentage, least complaints according to JD Powers points survey of 2022. The company has improved its reputation in the last decade through paying off death benefits to all policyholders consistently. Mutual of Omaha Life Insurance policies set it ahead of all competition!
- What is the average cost of Mutual of Omaha Life Insurance for Seniors?
- Mutual of Omaha Best Final Expense Life Insurance for Seniors “Living Promise”
- Mutual of Omaha Guaranteed Acceptance Burial Insurance
- Should you call Mutual of Omaha directly?
- How does buying life insurance through a Licensed Agent work?
What is the average cost of Mutual of Omaha Life Insurance for Seniors?
Mutual of Omaha enjoys a great rapport amongst the elderly because it always delivers. Furthermore, It offers as much comfort to the seniors through its cheap prices and caring life policies, as possible! Thus,the average cost for any senior citizen ranges: $20-$200 for $10,000-$25,000 coverage burial insurance.
How Much Does Life Isurance Cost?
However, the rate of any burial insurance monthly premiums; depend on:
- Age of policyholder
- Gender of policyholder
- State in which the policyholder resides
- Lifestyle of policyholder
- Tobacco usage history of policyholder
- Whether policyholder takes the medical exam or not
- What coverage product the policyholder has chosen for himself
Mutual of Omaha Life Insurance Rates:
- For 45 years-old non-smoker for $10,000 policy, premium would be $22
- As for 65 years-old non-smoker for $10,000 policy, premium would be $41
- And for 85 years-old non-smoker for $10,000 policy, premium would be $135
Mutual of Omaha Best Final Expense Life Insurance for Seniors “Living Promise”
It is the best senior life insurance policy available all across the US. Moreover, an Applicant age range is between 45-85 years. People with or without any serious illness can obtain the Living Promise burial insurance. And it comes in two forms:
Graded Living Promise
- It comes with the waiting period of 2 years.
- This offers full refund of premiums paid till the policyholder passes away.
- It is without any medical exam.
- Offers highest coverage of $20,000.
Level Living Promise
- The policyholder only has to answer some health questions.
- It comes without any waiting period.
- It offers immediate coverage from day one.
- The death benefit payout comes within 24-48 hours after claim approval!
- Guaranteed 100% death benefit payout to dependents.
- Offers maximum coverage of $40,000.
For both Graded and Level Living Promise; The biggest benefits are:
- Your dependents get the check and they can use it as they’d like.
- Usually beneficiaries use it for funeral (now it costs $10,000 according to NDFA), medical bills, credit card loans, if any money is leftover, they can keep it.
- Accelerated Death Benefit Rider: it allows you to use 50% of the money from the death benefit if you’re diagnosed with any terminal illness. You’re allowed to use this amount even when you stay admitted in hospice care for more than 90 days.
- Accidental Death Benefit Rider: You will pay only a few extra bucks to activate this rider while buying your final expense insurance Living Promise. Its biggest advantage is that it will double your death benefit payout, if your death is by a natural accident.
Mutual of Omaha Guaranteed Acceptance Burial Insurance
For a person diagnosed with a fatal disease, their best go to option with Mutual of Omaha is their Guaranteed Acceptance Burial Insurance. Likewise, the applicant has to be 45 years or more. He will get burial insurance with a 2 years’ waiting period. Lastly, no medical test or health questionnaire has to be filled.
The application approval is 100% guaranteed for everyone and anyone. If you die within the 2 years waiting period, the dependents will get full refund of premiums paid till your death plus any 10% interest you earned on them. Mutual of Omaha’s Guaranteed Acceptance offers coverage from $2000-$25000.
- Cost range for $25,000 coverage is $123 for 65 years’ old woman
- Cost range for $25,000 coverage is $169 for 65 years’ old man