2022 Mutual of Omaha Life Insurance For Seniors (inc/ Funeral & Burial Insurance)

mutual of omaha life insurance
Kim Wilhelm CEO of Final Expense Direct Life Insurance
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Written by Kim Wilhelm

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Last Updated 05 Oct 2022

Seniors have different needs for life insurance than younger adults. They also can have a harder time getting life insurance due to age and health.

If you’re a senior looking for life insurance, you may face some challenges getting the coverage you need at a price you can afford. For most seniors, term life insurance is no longer an option. You need coverage that will last for the rest of your life. In this case, a life insurance for seniors policy is exactly what you’re looking for.

At Final Expense Direct, we work with seniors just like you, offering affordable final expense life insurance from some of the best life insurance companies around.

One of those companies is Mutual of Omaha. This life insurer has been around since 1909 and has superior financial ratings. Why is that important? A life company’s financial ratings show that when the time comes, they will be able to payout the policy to your beneficiary.

Just like Final Expense Direct, Mutual of Omaha works with seniors to offer life insurance policies only for you. They’re easy to get and understand, and our agents are ready to help you get covered and answer all your questions in just one phone call.

Before we get on the phone, let’s make sure a Mutual of Omaha policy is the right choice for you.

Mutual of Omaha Final Expense Insurance

Final expense insurance is a whole life policy that you can keep until you die. The premium you get approved for will be the same premium you pay for the rest of your life. And no matter what happens to your health, your coverage amount can never be decreased.

Worried about getting approved because you have a pre-existing condition? Don’t be. With Mutual of Omaha, you can get covered with no health questions or having to take a medical exam. And if you can answer a few health questions, you can get approved at a better rate.

Mutual of Omaha Burial Insurance

Most seniors are looking to buy life insurance to pay for final expenses, which is why this type of life insurance is sometimes called burial insurance. You don’t want to be a burden to your kids and grandkids, and a great way to take the strain off them is to purchase final expense burial insurance.

Mutual of Omaha Guaranteed Life Insurance Quote - 10K Male/Female

Age

Male

Female

Age 50

$29.16

$24.67

Age 55

$35.09

$28.40

$42.76

$32.87

$55.76

$41.01

$73.70

$53.24

$99.53

$72.41

$132.65

$98.43

Age 85

$183.15

$135.90

2022 Sample Quote for life insurance rates for a health standard non-smoking individual. These are examples of rates that may or may not be available to you and you should not rely upon these numbers. Contact Final Expense Direct today to get your personal final expense insurance quote. 1-877-674-0236 Get Your Free Quote Today!

Mutual of Omaha Life Insurance For Seniors

Mutual of Omaha offers two types of life insurance for seniors. Which is best for you depends on your coverage needs and current health.

Mutual of Omaha’s guaranteed whole life insurance policy is available for seniors aged 45 to 85, or 50 to 75 in New York. You can get coverage from $2,000 to $25,000. With this policy, there are no health questions or medical exam to complete. You are guaranteed to be approved, regardless of health, even if you’re a smoker.

You can also get Mutual of Omaha’s Living Promise whole life policy. This policy asks a few health questions, but offers coverage up to $40,000. It also comes with an accelerated death benefit rider at no extra cost. If you’re diagnosed with a terminal illness or confined to a nursing home, you can access some of the death benefit while you’re still alive to pay for health costs, or anything else you wish.

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Mutual of Omaha Senior Life Insurance

Buying senior life insurance from Mutual of Omaha is easy, but at Final Expense Direct, we make it even easier. Just call us and by the time we hang up, you’ll have a policy in place!

Our goal is to offer you and your family peace of mind and get you the coverage you need, so you can enjoy your golden years. Why waste time getting quotes and filling out applications, while you’re unsure if the policy is even the right choice for you?

Let us help! Give us a call at 1-877-674-0236 and speak with one of our agents. We’ll ask you a few questions and help you decide which Mutual of Omaha plan is right for you. Then we’ll get you approved right over the phone in just a few minutes!

Yes, it’s really that easy. We work with hardworking, God fearing Americans just like you get covered every day.

Mutual of Omaha Funeral Insurance

Sure, you can buy funeral insurance or prepay for your funeral to cover the cost of your last wishes. But buying funeral insurance through the funeral home is never the cheapest option for you. In fact, it could cost you more in premiums than the value of the policy! 

Prepaying your funeral is even worse because the cost of a funeral will increase year after year, just like everything else. But the funeral home probably won’t tell you that. 

So you’ll think you have your funeral already paid for and then years go by. When it comes time for your funeral to happen, your family gets a surprise bill to pay the increased costs.

Yes — this really happens! Don’t let this happen to your family. Instead, buy a final expense policy through a company like Mutual of Omaha. 

This way, you’re in control, not the funeral home. And you can let your family know just how you want your funeral to go, regardless of when the time comes for you to come home to meet the good Lord.

Mutual of Omaha Life Insurance Costs

So, what’s this going to cost you? Well, you’d probably be surprised by how affordable Mutual of Omaha senior life insurance is.

For a 50-year-old male, a Mutual of Omaha policy is only $29.16 a month. A female of the same age, just $24.67. Even if you’re older, it’s still affordable. A 70-year-old man would pay about $95 while a female would only pay about $53.

See, we told you it was affordable. Still have questions? Call us today at Final Expense Direct so we can answer them for you.

mutual of omaha life insurance

Plan Options Available

Mutual of Omaha has two plan options available under the Living Promise whole life insurance policy. Your answers to the health questions in the application will determine which one you qualify for.

Mutual of Omaha Living Promise with Level Death Benefit

The Mutual of Omaha Living Promise with level death benefit whole life policy offers eligible applicants a full death benefit from the first day of coverage.

Adults aged 45 to 85 can apply for this policy through insurance agency brokers like Final Expense Direct. Coverage amounts range from $2,000 to $40,000. Premiums are payable until death or age 121, whichever comes first.

The level death benefit plan comes with an accelerated death benefit rider at no extra cost. There are two health scenarios that can trigger the rider:

  • Nursing home confinement: The insured is confined to a nursing home for at least 90 consecutive days.
  • Terminal illness: The insured is diagnosed with a terminal illness and given a year or less to live.

If either of these scenarios occur, Mutual of Omaha will accelerate 50% of the death benefit to the insured. It can be used for any reason, whether to pay for a last trip with your loved ones or to help with medical expenses, for example.

Mutual of Omaha Living Promise with Graded Death Benefit

The Mutual of Omaha Living Promise with graded death benefit whole life policy is for any applicant that doesn’t qualify for the level death benefit policy.

This plan is also for seniors aged 45 to 85, but caps coverage at $25,000. Premiums are payable until age 121, or death, whichever happens first.

Unlike the level death benefit plan, the graded plan doesn’t come with an accelerated death benefit rider. If you are confined to a nursing home or receive a terminal illness diagnosis, your only option is to borrow against the cash value in the policy, if available.

If the insured dies within the first 2 years of the policy, the beneficiary will receive 110% of the premiums paid instead of the full death benefit. The only exception is an accidental death, which will pay out 100% of the death benefit, not just refund the premiums paid.

Health Conditions Available with No Waiting Period

Although some seniors will only qualify for Mutual of Omaha funeral insurance with a waiting period, many health conditions are available with no waiting period.

For instance, seniors with the following health conditions are eligible for Mutual of Omaha final expense insurance without a waiting period:

  • Aneurysm
  • Arthritis
  • Asthma
  • Basal cell skin cancer
  • Blindness
  • Blood clots (if less than 2 years ago)
  • Blood thinner medication
  • Cancer (if less than 4 years ago)
  • Circulatory surgery (if less than 2 years ago)
  • Crohn’s disease
  • Depression
  • Diverticulitis
  • Epilepsy
  • Fibromyalgia
  • Grave’s disease
  • Heart attack (if less than 2 years ago)
  • Heart surgery (if less than 2 years ago)
  • Hepatitis A or B
  • High blood pressure
  • High cholesterol
  • Non-cancerous tumors
  • Scleroderma
  • Seizures
  • Sleep apnea
  • Squamous cell skin cancer
  • Stroke/TIA (if less than 2 years ago)
  • Type 2 diabetes

If your health condition isn’t listed, then you’ll probably only qualify for Mutual of Omaha Living Promise whole life with a 2-year waiting period.

How Much Does Mutual of Omaha Life Insurance for Seniors Cost?

Mutual of Omaha life insurance for seniors costs will depend on your age, gender, ZIP code, and coverage amount. If you qualify for an immediate death benefit, the rate will be cheaper than if you qualify for a 2-year waiting period death benefit.

Here are sample rates for $10,000 in whole life insurance coverage from United of Omaha.

Mutual of Omaha

50-year-old male

50-year-old female

60-year-old male

60-year-old female

70-year-old male

70-year-old female

No waiting period

$29

$25

$43

$33

$74

$53

2-year waiting period

$40

$30

$57

$43

$87

$64

If you qualify for the immediate death benefit policy, you have the option to include an accidental death benefit rider. It will typically only cost a few more dollars per month, but will double the death benefit payout to your beneficiary if you die an accidental death.

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Conclusion

Mutual of Omaha is a great choice for senior life insurance. They’ve been in the business for over 100 years and have an outstanding track record of quality customer care, plus strong financials to pay out claims fast. If you need final expense insurance to pay for your funeral and end-of-life expenses, give us a call at Final Expense Direct today so we can get you covered in just one phone call.

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