2023 Mutual of Omaha Burial Insurance Review: Rates, Coverage, and More

When it comes to securing burial insurance in 2023, Mutual of Omaha continues to stand out as a top-tier provider. With an illustrious history, attractive payouts, and a commitment to financial stability, Mutual of Omaha remains an excellent choice for your final expense insurance. In this comprehensive article, we will delve into the key reasons why Mutual of Omaha should be your preferred option for burial insurance.

Article Highlights

Mutual of Omaha History

Mutual of Omaha, established in 1909 in Nebraska, initially began as a Health and Accident insurance company. It later expanded into Life Insurance in 1926, marking the beginning of its rapid growth. In the year 2023, Mutual of Omaha continues to excel in a wide range of insurance products such as:

• Term Life 
• Final Expense Burial Insurance
• IUL
• Annuities
• Medicare Supplements 

Ratings and Financial Strength

All of this information can be found on Mutual’s website here. 

They have a fantastic rating and history, and a very strong financial standing as well. 

Mutual of Omaha boasts an impeccable financial reputation. As of the latest information available in 2023, all companies under Mutual of Omaha maintain an A+ rating with A.M. Best, S&P Global, and the Better Business Bureau. This unwavering financial strength assures you that your beneficiaries will receive their rightful benefits without any concerns. 

One of the most important things for me is that my clients never have to worry if their beneficiary will get paid. They know that when they get a policy with Mutual of Omaha, they are getting a policy with a legitimate insurance company that is going to be around for a very long time. 

Mutual of Omaha’s Burial Insurance

Mutual of Omaha continues to offer the “Living Promise” burial insurance product in 2023. This comprehensive whole life plan comes with several key guarantees:

It is like all other burial insurance products offered at arkburialquote.com. It is a whole life plan which comes with a few guarantees: 

• Rates will never increase
• Coverage will never go away or decrease
• Your beneficiary will receive the check!

These three points are the most important highlights to remember when shopping for your burial insurance. 

The burial insurance offered by Mutual of Omaha comes in 2 tiers:

• Level
• Graded

Level coverage is when the client gets first day coverage. In fact, when my clients get this policy, they will often times have their coverage in place before their head hits the pillow that night. 

There is no waiting period, it is immediate.

The level plan is for clients that have few to no health issues, and if they do they are considered moderate. Good examples would be high blood pressure, high cholesterol, some forms of arthritis, etc. 

Graded coverage means there is a waiting period. This lasts 24 months, but your beneficiary would still get paid if you were to pass away. They would get 110% of everything you have paid on the policy. So basically, they get everything you have paid, plus 10% interest, which is better than any bank account you can find. 

Burial Insurance Coverage

Mutual of Omaha’s Living Promise, or final expense burial insurance plan, offers coverage ranging from $2,000 up to $40,000.

This range allows them to cover any possible scenario for a client needing a burial insurance policy. Average prices right now for burials are anywhere from $8,000 to $12,000, and cremations are from $1,000 to $5,000 depending on the service. 

If a person was looking for either cremation or burial coverage, they won’t have a hard time finding it with Mutual of Omaha. 

Rates

Rates are the most important thing people want to know. How much will a person have to pay? That’s the key to burial insurance.

To give an idea, I worked up a few quotes for $15,000 for non smoker male and female, ages 55, 65, and 75. The results are:

• Female:
  • 55: $39.96
  • 65: $59.91
  • 75: $107.01
• Male:
  • 55: $52.32
  • 65: $83.12
  • 75: $148.36

Burial insurance rates are based off of health, gender, and age. You can see that males have a higher premium to pay, and if these were smoker rates, they would be even higher. It pays to not smoke tobacco!

You can find your own personal quote by filling out our quote form on this page, or going here!

Process of getting Burial Insurance

Mutual of Omaha keeps it very simple. 

The first thing to do is to get a quote, once you have done that the next step is to apply for coverage. 

This is done by a very simple electronic application. You even sign your documents and disclosures electronically from your phone or computer! 

There will be health questions that you must answer, and then you just provide your information to submit the application. 

Once Mutual of Omaha receives the policy, they will review it to make sure everything is correct, and then take the payment and issue the policy. 

It is possible to push the payment out a few weeks if you need to, but most of my clients just want to get the coverage immediately so Mutual of Omaha typically drafts it within a few days. 

Why I choose Mutual of Omaha for Burial Insurance

To keep it simple, I believe that Mutual of Omaha has one of the best Burial Insurance plans in the country. It is also competitively priced, usually beating everyone else out by far. 

Because of this, I believe it is important to keep my clients protected, and to keep as much of their money in their pockets as possible. As mentioned before, many of my clients are on limited or fixed income. I am not in this business to take money from people’s wallets, I am in the business to protect families from financial burdens. 

Mutual of Omaha has been around for a very long time, and according to their current stances and ratings, they will be around for much longer. 

Above all, it is so important to do business with a company you can get behind and trust, and that’s why I offer Mutual of Omaha to my clients. 

Closing Thoughts

As you consider your burial insurance needs in 2023, remember that Mutual of Omaha remains a trusted choice. 

With a history of reliability, competitive rates, and a commitment to serving their clients, Mutual of Omaha continues to be a solid option for ensuring your family’s financial security. 

For any questions or comments, please feel free to reach out in the comment section below. Your peace of mind is our priority.

God bless.