Carrier Review — Independent & Unbiased
Mutual of Omaha Burial Insurance Review 2026:
Best Rates in the Market — For the Right Applicant
Mutual of Omaha’s Living Promise policy has the best level benefit rates of any major final expense carrier. But it’s not right for everyone — and most review sites won’t tell you who should look elsewhere. We will.
Our honest take on Mutual of Omaha
Mutual of Omaha is a legitimate, financially strong carrier that has been in business for over 115 years. Their Living Promise final expense policy is genuinely one of the best products in the market — for the right applicant. The rates are consistently among the lowest available for level benefit coverage, the policy is straightforward, and Mutual of Omaha has a strong track record of paying claims.
But here is what most review sites won’t say: Mutual of Omaha is not always the right carrier. As an independent broker working with 9 A-rated carriers, we see the same mistake repeatedly — a diabetic applicant goes straight to Mutual of Omaha because they’ve heard the name, and ends up in graded benefit when they would have qualified for level benefit at a different carrier. Understanding when to use Mutual of Omaha and when to look elsewhere is exactly what this review is for.
LL
From Larry La Spina — Licensed Independent Broker
NPN #21598508 • Licensed in all 50 states • 9 A-rated carriers
Mutual of Omaha is my first call when a client has a clean health profile and wants the best possible rate for level benefit. Their pricing is genuinely hard to beat. But the moment I see diabetes in someone’s history — Type 1, Type 2, any kind — I go elsewhere, because Mutual of Omaha will grade them no matter how well-controlled their condition is. Same with congestive heart failure — I go straight to Transamerica instead. Knowing when to use them is the whole job. Call me and I’ll run your profile against all 9 carriers: (754) 800-1152.
Who Mutual of Omaha IS right for — and who it isn’t
✓ Mutual of Omaha IS a strong choice if you…
✓Have a clean or near-clean health profile with no major conditions
✓Are a non-diabetic looking for the lowest possible level benefit rate
✓Want coverage from a carrier with 115+ years of financial stability
✓Have managed blood pressure, cholesterol, or mild heart conditions that are well-controlled
✓Want up to $50,000 in coverage with no medical exam
✓Prioritize fast claims processing — one of the fastest payers in the industry
✓Want built-in terminal illness and nursing home riders at no extra cost
✗ Mutual of Omaha is NOT the right choice if you…
✗Have diabetes of any kind — all diabetics get graded automatically, no exceptions. Use American Amicable or Royal Neighbors instead.
✗Have congestive heart failure — Transamerica uniquely accepts CHF for level benefit. Mutual of Omaha is GI only for CHF.
✗Are a smoker looking for the best rates — American Amicable has the best smoker rates in the market.
✗Have COPD — Transamerica and Royal Neighbors offer preferred rate level benefit for COPD.
✗Had a cardiac event within the past 2 years — Transamerica and American Amicable are more lenient.
✗Need graded benefit coverage above $20,000 — the graded plan is capped at $20,000.
⚠ Critical warning for diabetics: Mutual of Omaha automatically places every diabetic applicant — Type 1, Type 2, insulin-dependent or oral medications only, well-controlled or not — into graded benefit. No exceptions. A perfectly controlled Type 2 diabetic on metformin alone gets graded at Mutual of Omaha when they would qualify for level benefit at American Amicable, Royal Neighbors, or Americo. Call us before applying to Mutual of Omaha if you have diabetes: (754) 800-1152.
What is Mutual of Omaha’s Living Promise policy?
Living Promise is Mutual of Omaha’s dedicated final expense whole life insurance product, sold exclusively through licensed agents. It comes in two distinct plans:
Option 1
Level Benefit Plan
Ages45–85
Coverage$2,000–$50,000 (WA: $5,000–$50,000)
Waiting periodNone — full coverage from day one
Medical examNot required
PremiumsLocked for life, never increase
Riders includedAccelerated Death Benefit (terminal illness & nursing home)
Optional riderAccidental Death Benefit (doubles payout for accidental death)
Option 2
Graded Benefit Plan
Ages45–80 (not available in AR, MT, NC)
Coverage$2,000–$20,000 (WA: $5,000–$20,000)
Waiting periodYears 1–2 partial payout; full benefit from year 3
Medical examNot required
PremiumsLocked for life, never increase
NoteBuilt-in riders not included on graded plan
Who lands hereAll diabetics, plus other health conditions
Note on “United of Omaha”: You may see Living Promise listed under “United of Omaha Life Insurance Company.” United of Omaha is a wholly owned subsidiary of Mutual of Omaha — the policy, the financial backing, and the claims process are identical. This is not a different company.
Mutual of Omaha Living Promise rates for 2026
Sample rates for $15,000 in coverage, non-tobacco. Rates vary by state and exact health profile. The graded column is where all diabetics land at Mutual of Omaha — regardless of how well-controlled their condition is.
Level benefit — full coverage from day one
For healthy, non-diabetic applicants. No waiting period.
| Age | Female | Male |
|---|
| 55 | $40/mo | $52/mo |
| 60 | $47/mo | $62/mo |
| 65 | $58/mo | $76/mo |
| 70 | $76/mo | $100/mo |
| 75 | $103/mo | $137/mo |
| 80 | $143/mo | $188/mo |
Graded benefit — years 1–2 partial, full from year 3
Where ALL Mutual of Omaha diabetics land, regardless of control.
| Age | Female | Male |
|---|
| 55 | $48/mo | $62/mo |
| 60 | $57/mo | $74/mo |
| 65 | $70/mo | $91/mo |
| 70 | $92/mo | $121/mo |
| 75 | $124/mo | $166/mo |
| 80 | $173/mo | $228/mo |
Why showing both tables matters: A 65-year-old female with perfectly controlled Type 2 diabetes on metformin pays $70/month at Mutual of Omaha on graded benefit. At American Amicable or Royal Neighbors, the same person qualifies for level benefit at $58–$64/month — full coverage from day one, no waiting period. That’s up to $144/year in unnecessary overpayment, plus reduced protection in years 1–2. This is why carrier selection matters.
What health questions does Mutual of Omaha ask?
To qualify for the level benefit plan, you must answer NO to all of the following. A YES to any one moves you to graded benefit or guaranteed issue.
Living Promise level benefit health questions
1
Terminal illness or life expectancy of 12 months or less?Any terminal diagnosis moves you to guaranteed issue. Level and graded benefit are not available.
2
HIV or AIDS diagnosis?Disqualifies from level and graded benefit. Guaranteed issue only.
3
Kidney failure or currently on dialysis?Disqualifies from level benefit. Graded or guaranteed issue may still be available.
4
Congestive heart failure?CHF disqualifies from level benefit at Mutual of Omaha. Transamerica uniquely accepts CHF for level benefit — call us if this applies to you.
5
Stroke or TIA within the past 24 months?Within 2 years moves you to graded benefit. More than 2 years ago with recovery: level benefit may be available.
6
Heart attack or coronary artery bypass surgery within the past 24 months?Cardiac events within 2 years move you to graded benefit. More than 2 years ago with stable recovery: level benefit may be available.
7
Cancer (other than basal cell skin cancer) diagnosed or treated in the past 24 months?Active or recent cancer moves you to graded or guaranteed issue. Non-melanoma skin cancer is excluded from this question.
8
COPD, emphysema, or currently using supplemental oxygen?COPD with oxygen use or recent hospitalization typically moves you to graded or GI. For level benefit with COPD, Transamerica and Royal Neighbors are stronger options.
9
Currently hospitalized, in a nursing home, or receiving home health care?Active hospitalization or nursing home confinement delays application. Apply once discharged and stable.
10
Insulin-dependent diabetes OR any form of diabetes?This is the one that surprises most applicants. Any diabetes — any type, any control level — automatically results in graded benefit at Mutual of Omaha. No exceptions. Use American Amicable, Royal Neighbors, or Americo for level benefit.
11
Height and weight ratio within guidelines?Mutual of Omaha applies a build chart. Applicants outside the approved range are moved to graded benefit regardless of other health factors.
How your medications affect Mutual of Omaha underwriting
Mutual of Omaha checks prescription databases as part of underwriting. Here is how common medications affect your Living Promise tier specifically.
Blood pressure meds (Lisinopril, Amlodipine, Metoprolol)
Level benefit — good outcome
Managed hypertension is viewed favorably. Level benefit typically available alongside other qualifying factors.
Statins (Lipitor, Crestor, Zocor)
Level benefit — good outcome
Cholesterol management alone does not affect level benefit eligibility. Widely prescribed, viewed as standard managed care.
Blood thinners (Eliquis, Xarelto, Warfarin)
Level benefit — depends on reason
Anticoagulants alone don’t disqualify you. The underlying reason is what’s evaluated. Well-controlled AFib: often level benefit.
Any diabetes medication (Metformin, Ozempic, Jardiance, Insulin)
Graded benefit — always, no exceptions
Any diabetes medication triggers the diabetes question and results in graded benefit. Metformin alone is enough. Use American Amicable or Royal Neighbors for level benefit.
Inhalers (Albuterol, Spiriva, Advair)
Level or graded — profile-dependent
Rescue inhalers alone may still qualify for level benefit if no COPD diagnosis and no hospitalization history. Controller inhalers with a COPD diagnosis typically move to graded or GI.
Heart failure meds (Entresto, furosemide, digoxin)
Guaranteed issue only at Mutual of Omaha
These indicate CHF management. Mutual of Omaha is GI only for CHF. Transamerica uniquely accepts CHF for level benefit — call us if this applies to you.
Riders included with Living Promise
Accelerated Death Benefit — Terminal Illness
Included free — level plan only
Access a portion of the death benefit if diagnosed with a terminal illness with a life expectancy of 12 months or less. The advance reduces the final death benefit paid to beneficiaries.
Accelerated Death Benefit — Nursing Home
Included free — level plan only
Access a portion of the death benefit after qualifying nursing home confinement. Does not require a terminal diagnosis. Both provisions are built in at no extra cost on the level plan.
Accidental Death Benefit Rider
Optional add-on
Doubles the death benefit payout if death is caused by a covered accident. Available on the level benefit plan only. Adds a small amount to the monthly premium.
Riders on graded plan: The built-in Accelerated Death Benefit riders are included on the level benefit plan only — not on the graded plan. Another reason why landing on level benefit rather than graded matters beyond the waiting period difference.
How Mutual of Omaha compares to other carriers
As an independent broker working with 9 A-rated carriers, we match every client to the right carrier for their specific profile.
| Health profile | Best carrier | Mutual of Omaha verdict | Why |
|---|
| Clean health, no major conditions | Mutual of Omaha ★ | First choice | Best level benefit rates in market for healthy profiles |
| Diabetes (any type, any control) | American Amicable or Royal Neighbors | Wrong choice ⚠ | Mutual of Omaha grades ALL diabetics — no exceptions |
| Congestive heart failure | Transamerica | GI only ⚠ | Transamerica uniquely accepts CHF for level benefit |
| COPD, no oxygen | Transamerica or Royal Neighbors | Limited | Both offer preferred rate level benefit for COPD |
| Heart attack/bypass 2+ years ago | Transamerica or American Amicable | Case by case | More lenient cardiac underwriting at both carriers |
| Cancer in remission 2+ years | American Amicable or Americo | Case by case | American Amicable more lenient for favorable cancer types |
| Smokers | American Amicable | Available but higher | American Amicable has the best smoker rates in the market |
| Occasional cigar user | American Amicable | Not available | American Amicable has a unique occasional cigar option most carriers won’t offer |
Not sure if Mutual of Omaha is right for your profile?
Tell us your health history and we’ll run your profile against all 9 carriers and tell you honestly which one fits best. Free, no obligation, 10 minutes.
Run My Carrier Comparison →
Mutual of Omaha vs. Colonial Penn
Many seniors researching Mutual of Omaha are also considering Colonial Penn after seeing their TV commercials. The $9.95/month ads make Colonial Penn sound affordable — but the numbers tell a very different story. For a full breakdown, see our Colonial Penn $9.95 Plan Review.
The short version: Colonial Penn’s $9.95 plan sells coverage in “units” where the actual dollar amount of coverage per unit shrinks as you age, and all policies have a mandatory 2-year waiting period. A 65-year-old female needs 12 units at $119.40/month to get $15,000 in coverage — with a 2-year wait. Mutual of Omaha’s Living Promise gives her $15,000 in level benefit coverage from day one for $58/month. That’s $736 per year in savings, plus immediate protection.
The broader point: an independent broker can almost always find you better coverage than what Colonial Penn offers — even if your health profile isn’t a perfect fit for Mutual of Omaha’s underwriting, other carriers in our network will outperform Colonial Penn on both price and coverage terms.
Frequently asked questions
Is Mutual of Omaha burial insurance good?
Yes — for the right applicant. Living Promise consistently offers the best level benefit rates in the final expense market for healthy, non-diabetic seniors. The company is financially strong with an A+ A.M. Best rating and an excellent claims track record. The key caveat: it is not the right carrier for diabetics, CHF patients, or COPD patients.
Does Mutual of Omaha burial insurance cover diabetics?
Mutual of Omaha covers diabetics, but all diabetics are automatically placed in graded benefit — no exceptions. Even a perfectly controlled Type 2 diabetic on only metformin gets graded. Graded benefit means reduced payouts in years 1–2, higher premiums, and the built-in riders are excluded. If you have any form of diabetes and want level benefit, American Amicable and Royal Neighbors are better options. See our
burial insurance with diabetes guide for full carrier options.
What is Mutual of Omaha’s Living Promise policy?
Living Promise is Mutual of Omaha’s final expense whole life insurance product sold through licensed agents. The level benefit plan offers $2,000–$50,000 in coverage for ages 45–85 with full coverage from day one. The graded benefit plan offers $2,000–$20,000 for ages 45–80 with a 2-year waiting period (not available in AR, MT, or NC). Both require no medical exam and premiums never increase.
What health questions does Mutual of Omaha ask for burial insurance?
To qualify for level benefit, applicants must answer no to questions about terminal illness, HIV, kidney failure, congestive heart failure, stroke or TIA within 24 months, heart attack or bypass within 24 months, cancer within 24 months, COPD with oxygen use, current hospitalization, diabetes of any kind, and must fall within height/weight guidelines. See the full breakdown with impact explanations above.
How much does Mutual of Omaha burial insurance cost?
A 65-year-old non-smoking female pays approximately $58/month for $15,000 in level benefit. A 65-year-old non-smoking male pays approximately $76/month. Graded benefit runs about 20% higher. See the full rate tables by age and gender above for level and graded side-by-side.
Can I buy Mutual of Omaha burial insurance directly?
The Living Promise simplified issue policy is sold only through licensed independent agents — not directly from Mutual of Omaha. Working with an independent broker gives you access to Living Promise alongside 8 other A-rated carriers for a true comparison.
What riders come with Mutual of Omaha burial insurance?
The level benefit plan includes two built-in Accelerated Death Benefit provisions at no extra cost: one for terminal illness and one for nursing home confinement. An optional Accidental Death Benefit rider doubles the payout for accidental death. The built-in riders are not included on the graded benefit plan.
How does Mutual of Omaha compare to other burial insurance carriers?
For healthy, non-diabetic applicants, Mutual of Omaha has the best level benefit rates of any major carrier we work with. For diabetics, American Amicable and Royal Neighbors are better. For CHF, Transamerica is the only carrier offering level benefit. For COPD, Transamerica and Royal Neighbors offer preferred rate level benefit. For smokers, American Amicable has the best rates. We run every client’s profile across all 9 carriers to find the right match.
See our other carrier reviews and health condition guides