Mutual of Omaha No Exam Life Insurance Review

Mutual of Omaha offers multiple life insurance products including a no exam term life option. This option is called Term Life Express, and it allows you to get coverage without taking a medical exam. You’ll still need to fill out an application and meet Mutual of Omaha’s underwriting standards, but this policy is a great choice if you want the security of a trusted name like Mutual of Omaha without the stress of a medical exam. Our guide breaks down everything you need to know about Mutual of Omaha’s no exam insurance. 

Term Life Express Overview

Mutual of Omaha’s Term Life Express is a no exam policy that offers up to $300,000 in coverage to qualified applications. As a term life product, Term Life Express policies offer coverage for the term length you choose. You can choose from a term of 10, 15, 20, or 30 years when you buy your policy, and your monthly premium will remain the same for your entire term. Your beneficiary will receive a payout of your policy’s death benefit If you pass away at any time during your policy term. 

You can read more key details about Term Life Express below:

• Coverage type: Term
• Coverage range: $25,000 – $300,000
• Age range: 18-65 (applicants over 50 are limited to $250,000 or less in coverage)
• Medical exam: Not required
• Health questions: Yes
• Application process: Quotes are available online, but you’ll need to speak with a Mutual of Omaha agent to finalize your application. 
• Underwriting: Simplified
• Approval time: Decision can be reached in minutes. However, a phone interview is required for policies of over $250,00 and for applications over 60. 
• Riders included:   Accidental death, residential damage waiver of premium, and waiver of premium 
• Riders offered: Disability income, disability waiver of premium, accidental death, and child riders might be offered depending on your state. 
• Option to convert policy: Yes

How much does Mutual of Omaha no exam life insurance cost?

Your cost for a no exam policy from Mutual of Omaha will depend on several factors including the term length you choose, the benefit amount you chose, and your life insurance rate class. Your life insurance rate class is the group you’re assigned to based on an insurance company’s underwriting standards. Rate classifications are impacted by your age, health, smoking status, driving record, and other information that tells the insurance company how risky it is to offer you a life insurance policy. People who are younger, healthier, and have an overall demonstrably low risk of dying during their policy term will be in the best life insurance rate class and will pay the lowest prices for coverage. You’ll receive a life insurance quote based on the information you provide on your application. You’ll receive a final price once the life insurance company verifies the information.

You can see rates for Mutual of Omaha’s no exam policy in the table below.  

The following rates are for a 60-year-old man in very good health looking for a 20-year no exam term life policy.

Coverage Amount	Banner	Haven	Mutual Of Omaha	Protective	Prudential
100,000	$63	N/A	$78	$65	$81
200,000	$121	N/A	$151	$131	$156
250,000	$149	$352	$157	$131	$177
300,000	$178	$421	$187	$157	$211
400,000	$235	$560	$248	$209	$279
500,000	$236	$702	$291	$248	$347
750,000	$352	$1050	$434	$373	$517
1,000,000	$461	$1403	$555	$476	$646

What medical questions does the application ask?

Mutual of Omaha won’t ask you to take a medical exam for Term Life Express, but they will ask you for some health information. It’s important to be truthful when you answer these questions. Remember that Mutual of Omaha will underwrite your application and check your information against consumer databases. Any information that is found to be false could result in your application being denied.

Questions that disqualify you if you answer yes

You won’t be able to get a no exam policy from Mutual of Omaha if you:

• Have sickle cell anemia
• Have major depression and chronic drug or alcohol abuse
• Have experienced an amputation caused by disease
• Have chronic pancreatitis that is caused by alcohol use 
• Have chronic asthma
• Have Hodgkin’s disease
• Use Humira, Enbrel, or Methotrexate to treat your moderate or severe rheumatoid arthritis
• Have muscular dystrophy
• Are a smoker who is over 50 and has diabetes 
• Are over 50 and have both diabetes and Peripheral Vascular Disease

Questions that can affect underwriting if you answer yes

Your rates might go up if you answer yes to any of these questions. In some cases, they might even cause a decline: This includes if you: 

• Are a smoker
• Have uncontrolled diabetes
• Have multiple chronic health conditions
• Have obesity and a chronic health condition
• Have experienced a stroke or heart attack

How to buy Mutual of Omaha no exam life insurance

There are a few ways to get started if you’d like to buy a no exam policy from Mutual of Omaha. Options include:

• Contact Mutual of Omaha— You can get a quote online or begin with a call Mutual of Omaha (877-202-2676) to speak to an agent. Either way, you’ll need to speak to an agent during your application process. 
• Work with an independent agent— Independent insurance agents can show you products from many insurance companies to help you find the best fit. You can find an independent insurance agent in your area and work with them to secure a Mutual of Omaha policy. They can guide you through the application process from start to finish.
• Use an online broker— Online life insurance brokers can show you quotes from multiple life insurance companies at once to help you find the best rates. They’re a great way to show the policy that best fits your needs, and they can start the application and purchase process  for you. 

Mutual of Omaha financial ratings

Financial ratings are a good indicator of how a company is performing. They measure how well a company is doing now and predicate how well it’s predicted to be doing in the future. Mutual of Omaha has strong financial ratings from major financial reviewers. They currently have an A+ rating  from both A.M. Best and S&P Global, and they are ranked in tier A1 by Moody’s. 

Mutual of Omaha complaints

LIfe insurance complaints are tracked by  The National Association of Insurance Commissioners (NAIC). The NAIC averages all complaints to give insurance companies a score. This score is called a complaint index. The average score on the NAIC index is 1.00. Companies with a score of less than 1.00 have received fewer complaints than average, and companies with a score of more than 1.00 have received more complaints than average.  Mutual of Omaha has an NAIC index of 1.20. This means customers have complained slightly more about Mutual of Omaha. 

How to cancel Mutual of Omaha life insurance

You can cancel a Mutual of Omaha policy at any time by contacting the company. There are three ways to do this. 

1. Call Mutual of Omaha— You can reach Mutual of Omaha’s customer care team from 8 a.m. until 4:30 p.m EST Monday through Thursday and from 8 a.m until 4 p.m. on Fridays by calling  800-775-1000. You’ll need to know your policy number when you call in. 
2. Write to Mutual of Omaha— You can write a cancellation to Mutual of Omaha. The letter will need to include your name, date of birth, policy number, a declaration that you are canceling the policy, your signature, and the date. You can mail the letter to: Mutual of Omaha, 3300 Mutual of Omaha Plaza, Omaha, NE 68175.
3. Talking to a Mutual of Omaha agent— You can cancel your policy by contacting a local Mutual of Omaha agent. You can use the Agent Search on the Mutual of Omaha site to find an agent near you. 

How to file a life insurance claim with Mutual of Omaha

There are two ways to file a life insurance claim with Mutual of Omaha. You can either call the company’s claim specialists (888-493-6902) or fill out the claim form online.  Either way, you’ll need to provide some information about the policy, policyholder, and beneficiary. This will include:

• The policyholder’s name
• The policyholder’s date of birth
• The policyholder’s date of death
• The policyholder’s cause of death (if known)
• The policy number
• The funeral home name
• A copy of the policy holder’s obituary (A specialist can help you get this information Mutual of Omaha)
• Your name
• Whether or not you are the beneficiary 
• Your relationship to the policyholder
• The beneficiary’s name
• The beneficiary’s contact information
• The beneficiary’s relationship to the policyholder 

A claims specialist can help if there’s any information you’re not sure how to locate or fill out. Mutual of Omaha will begin reviewing your claim right away. A specialist will contact you if they need any additional information. 

How long does it take for Mutual of Omaha to pay a claim?

Mutual of Omaha doesn’t say exactly how fast they’ll pay after a claim is made. However, the company does say that an agent will contact you within one business day after you submit a claim. The agent you talk to might be able to give you a better idea of how long your exact timeline might be. Generally, claims that require an investigation will take much longer to pay than simple cases where a cause of death can be quickly verified. 

Mutual of Omaha customer service contact info

You can contact Mutual of Omaha using these numbers:

• Customer care: 800-775-1000
• Claims help: 888-493-6902
• For additional coverage: 800-205-8193