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United of Omaha Life Insurance Review

United of Omaha Term Life Insurance Review United of Omaha Life Insurance Review

 

Likes: United of Omaha often has the lowest prices in the country on term life insurance. They also have an A+ Superior financial rating. Mutual of Omaha has been in business for over 75 years.

Dislikes: There is not much to dislike with this company and I have placed hundreds of customers with them and have not yet heard anything negative.

Overview: United of Omaha is currently one of my favorite companies as they often will have the lowest rates in the nation with great underwriting. They also are very highly rated and have been in business for over a century. Mutual of Omaha is a well-known and trusted brand in life insurance and you can’t go wrong with this company. United of Omaha is one of the top life insurance companies in the country in 2015-2016.

How to Get a United of Omaha Life Insurance Quote

Compare rates from all the top life insurance companies: Click here to get quotes from the top life insurance companies using a comparison tool.

United of Omaha Term Life Insurance Ratings

A+ Superior A.M. Best

AA- Standard & Poor’s (S&P)

A1- Moody’s

92- Comdex Score

What do these ratings mean? Click on our Ratings Chart page

Is United of Omaha the Same as Mutual of Omaha?

Yes, United of Omaha is a subsidiary of Mutual of Omaha and United of Omaha is the name of the company on the policies.

United of Omaha Term Life Insurance Complaints

I have wrote hundreds applications with Mutual of Omaha (United of Omaha) and have not heard of any complains. Term life insurance is very straightforward. If you pay your premium on time and are honest on your application it will pay out.

United of Omaha Term Life Insurance Payment Modes

You can pay monthly, quarterly, semi-annually or annually. There is a 5% savings for annual payments. You can change payment modes during the policy.

United of Omaha Term Life Insurance Coverage During Underwriting

UOM will offer coverage up to $1 million dollars during the underwriting process.

United of Omaha Term Life Insurance Riders

Accelerated Death Benefit for Terminal Illness Rider

This rider is included in the policy for free if you state allows it.

This rider provides an accelerated death benefit

if the insured provides evidence that their life

expectancy is 12 months or less. The requested

benefit amount may not exceed the lesser of

$1,000,000 or 80 percent of the current death

benefit.

Waiver of Premium for Unemployment Rider

(included in the policy)

This has a six-month benefit period, waiving premiums

for the base plan and all riders if the insured becomes

unemployed. This is a one-time waiver.

 

Dependent Children’s Rider

You can choose to purchase a small amount of term

life insurance coverage for your dependent children

(infant through 20 years)

 

Other Insured Rider

You can choose to purchase coverage for another

adult individual. Full underwriting is required.

 

Disability Waiver of Premium Rider

If you become disabled for six months or more, the

premium for the base policy and all riders will be

waived after the six-month period for as long as the

disability continues.

 

United of Omaha Term Life Insurance Conversion Option

  • 10-year term, before age 75, or during first 2 years after

policy issue, whichever is later (in NY, before age 66)

 

  • 15-year and 20-year term, before age 75 (in NY, before

age 66 or during first 5 years after policy issue, whichever

is later)

 

  • 30-year term, during the first 20 policy years

 

Actual Birthday vs. Half Birthday Mutual of Omaha Life Insurance

The majority of life insurance companies will determine your rate by your half birthday (6 months before your birthday) not your actual birthday. For example, if you are born on January 1st, most companies will make you a year older on June 1st earlier in the year. United of Omaha does not do this. They determine your rate by you actual birthday.

Company Information

Website: mutualofomaha.com

Company Contact Information

Mutual of Omaha Insurance Company

3300 Mutual of Omaha Plaza
Omaha, Nebraska 68175

Customer Service:

1-800-931-7105

Mutual of Omaha and the Wild Kingdom TV Show

Many people recognize the name Mutual of Omaha from the television series Wild Kingdom also referred to as Mutual of Omaha’s Wild Kingdom which premiered in 1963 and ran until 2002 on NBC that featured wildlife and nature. Now the show is on the Animal Planet channel.

United of Omaha Term Life Insurance Underwriting Guidelines

Mutual of Omaha Life Insurance Tobacco

Cigar Users-Allow 12 or fewer a year can qualify for the best rate class

Marijuana Users- Occasionally marijuana use may qualify for standard non tobacco rates

Mutual of Omaha Life Insurance Family History

Family history only applies to death, not disease.

Family history does not apply if the applicant if 60 or older

Mutual of Omaha Life Insurance Blood Pressure Guidelines

Treatment for hypertension does not automatically exclude one from the best rate class

Mutual of Omaha Life Insurance Cholesterol Guidelines

With or without medication can still qualify for the best rate class.

Max Cholesterol 300 with cholesterol/hdl ratio:

Preferred Plus 4.5 Ages 18-55 (5.0 ages 56 and above)

Preferred NT 5.5 Ages 18-55 (6.0 ages 56 and above)

Standard Plus 7.0 Ages 18-55 (7.5 ages 56 or above)

Mutual of Omaha Life Insurance Scuba Diving

Allows up to 100 feet or less and still eligible for the Preferred Plus rate class

 

United of Omaha Life Insurance Financial Eligibility-Income Replacement

Amount of life insurance one is eligible for with Mutual of Omaha

Ages

20 to 40=25x annual income in total life insurance

41 to 50=20x annual income in total life insurance

51 to 55=15x annual income in total life insurance

56 to 65=10x annual income in total life insurance

66+=7x annual income in total life insurance

For example if you are 40 years old and make $100,000 a year you are eligible for $2,500,000 in total life insurance with Mutual of Omaha.

Key Person

Generally 5 to 10x plus bonus.

Buy/Sell

Coverage is usually applied to all major active partners.

Creditor, Business loan, estate preservation and charitable giving-

Contact agent

 

United of Omaha Term Life Insurance Underwriting Classes

Preferred Plus

Nicotine/Tobacco

No nicotine in past 36 months, up to 12 cigars a year ok

Family History

No death of a parent of sibling prior to age 60 from cancer or heart disease. (Disregard if you are over 60)

Blood Pressure

Eligible for best rate class with medication as long as well controlled

Ages 18-55 Average blood pressure 135/85 or better

Ages 56 and older 140/85 or better

Cholesterol

Medication is allowed for best rate class

Total cholesterol 300 or lower with total cholesterol/hdl ratio 4.5 or better 18-55

and 5.0 or better for ages 56 and up.

Alcohol and Drug Abuse

After 15 years of treatment, abstinent eligible for best class.

Personal Medical History

No history of heart disease, diabetes or cancer (except basal and squamous cell)

Driving History

No DUI/DWI’s or reckless driving in past 5 years and no more than 2 moving violations in past 3 years.

Dangerous Sports/Activities, Occupation

No participation in any hazardous occupation, avocation or sport in past 5 years.

Scuba diving up to 100 ft ok for best rate class

Criminal Record

No felony in past 10 years (Subject to charge, etc)

Aviation

No flying as private pilot or crew member unless have aviation exclusion. Some commercial aviation may be ok for best rate class.

Preferred

Nicotine/Tobacco

No nicotine in past 24 months, up to 12 cigars a year ok

 

Family History

No death of a parent of sibling prior to age 60 from cancer or heart disease (Disregard if you are over 60)

If everything is else is good, one cardiac death may be allowed.

 

Blood Pressure

Eligible for best rate class with medication as long as well controlled

Ages 18-55 Average blood pressure 145/90 or better

Ages 56 and older 150/90 or better

United of Omaha Life Insurance Cholesterol

Medication is allowed for best rate class

Total cholesterol 300 or lower with total cholesterol/hdl ratio 5.5 or better 18-55

and 6.0 or better for ages 56 and up.

Alcohol and Drug Abuse

After 10 years of treatment, abstinent eligible for best class.

Personal Medical History

No history of heart disease, diabetes or cancer (except basal and squamous cell)

Driving History

No DUI/DWI’s or reckless driving in past 5 years and no more than 2 moving violations in past 3 years.

Preferred

Nicotine/Tobacco

No nicotine in past 24 months, up to 12 cigars a year ok

Preferred

Nicotine/Tobacco

No nicotine in past 24 months, up to 12 cigars a year ok

Dangerous Sports/Activities, Occupation

No participation in any hazardous occupation, avocation or sport in past 2 years.

Scuba diving up to 100 ft ok for best rate class

Criminal Record

No felony in past 10 years (Subject to charge, etc)

Aviation

No flying as private pilot or crew member unless have aviation exclusion. Some commercial aviation may be ok for best rate class.

Standard Plus

Nicotine/Tobacco

No nicotine in past 12 months, up to 12 cigars a year ok

Family History

No death of one parent of sibling prior to age 60 from heart disease. (Disregard if you are over 60)

Blood Pressure

Eligible for best rate class with medication as long as well controlled

Ages 18-55 Average blood pressure 152/90 or better

Ages 56 and older 156/92 or better

Cholesterol

Medication is allowed for best rate class

Total cholesterol 300 or lower with total cholesterol/hdl ratio 7.0 or better 18-55

and 7.5 or better for ages 56 and up.

Alcohol and Drug Abuse

After 5 years of treatment, abstinent eligible for best class.

Personal Medical History

No history of heart disease, diabetes or cancer (except basal and squamous cell)

Driving History

No DUI/DWI’s or reckless driving in past 5 years and no more than 3 moving violations in past 3 years.

Dangerous Sports/Activities, Occupation

No participation in any hazardous occupation, avocation or sport in past 5 years.

Scuba diving up to 100 ft ok for best rate class

Criminal Record

No felony in past 10 years (Subject to charge, etc)

Aviation

No flying as private pilot or crew member unless have aviation exclusion. Some commercial aviation may be ok for best rate class.

United of Omaha Term Life Insurance Height and Weight Guidelines

 Sample Mutual of Omaha Life Insurance Build Chart
Height Preferred
Best
Preferred Standard Plus Standard
4′ 10″ 135 145 155 162
4′ 11″ 141 150 160 168
5′ 0″ 146 156 167 174
5′ 1″ 152 163 175 180
5′ 2″ 158 169 180 186
5′ 3″ 164 174 185 191
5′ 4″ 169 179 190 197
5′ 5″ 174 184 195 204
5′ 6″ 180 190 200 210
5′ 7″ 185 195 205 217
5′ 8″ 189 199 210 223
5′ 9″ 195 205 215 230
5′ 10″ 200 211 222 236
5′ 11″ 206 217 227 243
6′ 0″ 211 222 234 250
6′ 1″ 217 229 242 257
6′ 2″ 222 234 247 264
6′ 3″ 228 240 252 272
6′ 4″ 233 245 258 279
6′ 5″ 239 251 264 287
6′ 6″ 246 258 270 298
6′ 7″ 252 264 276 302
6′ 8″ 310
6′ 9″ 317
6′ 10″ 350
6′ 11″ 325

 

 

United of Omaha Term Life Insurance Height and Weight Chart for Table Rates

 

 Sample Mutual of Omaha Life Insurance Build Chart
Height Table
2
Table3 Table4 Table5
4′ 10″ 194 201 208 214
4′ 11″ 199 207 214 220
5′ 0″ 205 213 220 226
5′ 1″ 211 218 226 233
5′ 2″ 215 223 232 239
5′ 3″ 220 228 238 246
5′ 4″ 225 235 245 252
5′ 5″ 231 242 251 259
5′ 6″ 239 248 258 268
5′ 7″ 245 254 265 275
5′ 8″ 251 262 274 283
5′ 9″ 258 270 282 291
5′ 10″ 266 278 289 300
5′ 11″ 274 287 298 307
6′ 0″ 281 292 305 315
6′ 1″ 289 300 313 322
6′ 2″ 296 308 321 331
6′ 3″ 303 317 329 339
6′ 4″ 311 325 338 348
6′ 5″ 319 334 347 357
6′ 6″ 328 345 358 366
6′ 7″ 336 354 367 375
6′ 8″ 345 363 376 385
6′ 9″ 352 372 385 395
6′ 10″ 359 382 395 407

 

United of Omaha Term Life Insurance Prices vs. The Competition

United of Omaha often had the lowest rates in the country (as of this writing) as can be seen in the example below. For $250,000 20 year term for a 51 year old male, Mutual of Omaha/United of Omaha offers the lowest rates in the nation.

United of Omaha Life Insurance Company      A+ $50.53 Preferred Plus Non-Tobacco
MetLife Insurance Company USA      A+ $52.11 Elite Plus Nonsmoker
American General Life Insurance Company      A $51.10 Preferred Plus Non-Tobacco
Columbus Life Insurance Company      A+ $49.73 Super Preferred Non-tobacco
Banner Life Insurance Company      A+ $51.19 Preferred Plus Non-Smoker
Pruco Life Insurance Company      A+ $52.65 Preferred Best
Midland National Life Insurance Company      A+ $51.70 Preferred Plus Non-tobacco
North American Co for Life and Health      A+ $51.70 Super Preferred Non-Tobacco
Genworth Life and Annuity Insurance Co      A- $52.06 Preferred Best No Nicotine Use
Genworth Life Insurance Company      A- $52.06 Preferred Best No Nicotine Use
Protective Life Insurance Company      A+ $51.56 Select Preferred Non-Tobacco
AAA Life Insurance Company      A- $53.24 Super Preferred Non-Nicotine
Cincinnati Life Insurance Company      A $53.68 Super Select Non-Smoker
Principal National Life Insurance Co      A+ $53.91 Super Preferred non-tobacco
Transamerica Life Insurance Company      A+ $53.54 Preferred Plus Non-Smoker
Ameritas Life Insurance Corp      A $54.41 Preferred Plus Non-Tobacco
EMC National Life Company      A- $56.29 Preferred Plus Non-Tobacco
ReliaStar Life Insurance Company      A $55.56 Super Preferred Non-Tobacco
John Hancock Life Insurance Company USA      A+ $58.65 Super Preferred Non-Smoker
Savings Bank Life Insurance Co of MA      A+ $55.68 Preferred Plus Non-Nicotine
Pruco Life Insurance Company      A+ $57.83 Preferred Best
Pacific Life Insurance Company      A+ $53.97 Super Preferred NonTobacco
MetLife Insurance Company USA      A+ $58.41 Elite Nonsmoker
TIAA-CREF Life Insurance Company      A++ $56.79 Preferred Plus Non-Tobacco
The Penn Mutual Life Insurance Company      A+ $56.77 Preferred Best Non-Smoker
Transamerica Life Insurance Company      A+ $56.34 Preferred Plus Non-Smoker
Ohio National Life Assurance Corporation      A+ $58.17 Super Preferred Non-Smoker
Minnesota Life Insurance Company      A+ $59.84 Preferred Select Non-Tobacco
Ohio National Life Assurance Corporation      A+ $60.33 Super Preferred Non-Smoker
John Hancock Life Insurance Company USA      A+ $64.13 Super Preferred Non-Smoker
Minnesota Life Insurance Company      A+ $61.64 Preferred Select Non-Tobacco
American United Life Insurance Company      A+ $63.41 Elite Preferred Nontobacco
Nationwide Life and Annuity Insurance Co      A+ $64.53 Preferred Plus Nontobacco
John Hancock Life Insurance Company USA      A+ $66.30 Super Preferred Non-Smoker
National Life Insurance Co of Vermont      A $64.02 Elite Preferred Nontobacco
Primerica Life Insurance Company      A+ $69.59 Preferred Plus Non-Smoker
Massachusetts Mutual Life Insurance      A++ $63.95 Ultra Preferred Non-Tobacco

How to Get a Quote

Thank you for reading my United of Omaha Life Insurance Review. Compare rates from all the top life insurance companies: Click here to get quotes from the top life insurance companies using a comparison tool.

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