Mutual of Omaha Life Insurance

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Consumer Complaints and Reviews

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Satisfaction Rating

I applied for a policy with Mutual of Omaha in July. Every week thereafter they requested bizarre documents and more information from tax returns three years back to a copy of my employment contract. We had to make one. My employer does not use contracts. It was not until November that I received final word from them. It was a terrible experience just trying to get the policy. I can only imagine how difficult they make it when they have to pay. Oh wait, I don't have to imagine. My friend's father was killed in a tragic accident and it took almost two years and an attorney to get Mutual of Omaha to honor the policy.

I would be very cautious before dealing with this company. They exist for the benefit of their shareholders. They are not here to help you. It is impossible to get someone on the phone and, when you finally do, they "don't know" or "can't". I would get an attorney and have them review all of the fine print because this company is out to make money only - not protect consumers.

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My mother passed on Aug. 3rd 2016 and she had a policy on myself with this company. I called to check on this policy and was told that in order to cash-out I had to get the policy in my name to surrender it. Well, I did everything that I was supposed to do on my end and in a timely matter to just be done with this policy. I was told 21 calendar days to process and the funds will be mailed. I called again today which makes it day 23 and was told they are still processing. I asked were they behind and the lady said no they weren't. It's not about the money at all I just want to get what's due the family because my mom's hard earned money was put into this policy.

I don't like the run around that they give you like it's a call center that you are speaking to and the professionalism makes you feel like you are getting on their nerves. I will be reporting this company to the Better Business Bureau because I do believe that this company has fraudulent activity. I would not recommend getting life insurance benefits from here.

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20 year ago this November my husband purchased, through his business a million dollar -20 year pay term insurance policy. When he left the company, we kept paying the monthly premiums to this day. Now that he is coming to the end of his 20th year, the policy goes to 6 figures a month. Obviously, beyond what we can pay annually. They tell us that somewhere in the 20 page+ document 5 years ago, if we had called THEM (or the agent)... who don't know where he is we had a chance to buy less insurance and continue the policy like at $100K. Obviously at 15 years into the policy, we had it filed with our final documents and never called. Consequently, he is turning 79 and he has NO life insurance and he has had health issues and cannot pass a physical.

As seniors this is a RIP OFF that we should be expected to remember something that happened 20 years ago. We don't make a practice of reviewing our final documents on a yearly or even at that time 5 year basis. So we have paid in over $200,000 and can't get insurance. I find it interesting that not once in the past 20 years have they missed taking out on a monthly premium... Wow, if I had changed bank accounts or did not have funds,, they would have reached out to me. But they can't do the same... Don't they realize we are seniors and have not the best recall of things that happened 20 years ago. What made us recall is that we remember it was a 20 year policy. I understand it is common amongst insurers like Mutual of Omaha to do this... They win - we lose.

I think this practice of ripping off people as they age (and did not have to collect on the insurance) should be investigated by Congress or at least State Insurance policies... We are not asking for anything but at least a portion of the total premium paid in should be put into force as term insurance and we would gladly pay the premium for $100K or the same outrageous amount that we were paying for 1 million... we would pay for $100K.

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I canceled my policy over 1 month ago. I was told I would get a refund check back, after 1 month still no payment. Called, they said the check was mailed out of the 20th. Called back again after waiting for 20 minutes to get to talk someone. This service is unacceptable. I would hate to find out the wait time for my kids if I passed away waiting for their money to bury me. This company is large enough. Why does it take over 26 days just to get it ready to send to you and another 6 days to cut the check. Again after waiting 32 days still nothing. Waiting to get to talk someone. I might as well call Obama. They would answer the phone faster. I will not buy another policy from them again. Glad I found out how unorganized they are before I passed away.

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I took out a policy for myself and one for my husband (Graded Whole Life). I was billed almost immediately without being able to review the policy for 30 days. I could never talk to anyone on the phone -- always backed up. I decided to drop this policy after I had paid my quarterly premium. I wrote them a note informing them of this before a month had passed. I called today (I left my name and # and was very surprised when someone actually called me) to ask about my refund. I got the old song and dance about no refund because of not enough time had passed (WHAT?). She told me that the policy was in the process of being cancelled -- it has been since APRIL -- this is the last day of July! Anyway, I get no money back. Do not do business with this company. It is aggravating, unprofessional and scammy. Invest in a REAL company.

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I am writing this review to complain about customer service from Mutual of Omaha representatives. I called a week ago to ask about information about life insurance policies. I was told that an agent or claim rep would get back to me. I provided my phone number and email address. I waited for a week and no one responded. I called back and explained my complaint and there was silence over the phone. I said "hello" and the customer service rep said that she was recording my call and they were very busy! I could not believe how a large company can function like that!

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I needed to put my mother into a nursing home. I've been trying for several months to get her on Medicaid but the only obstacle was an insurance policy she had with Mutual of Omaha. I called in June of 2016 to cancel it and cash it in so I could pay the nursing home room and board. I sent in copies of the required documents (Power of Attorney, etc). I emphasized that the reason for cancelling was to get mother on Medicaid. It took them over a month to send the check. I called several times trying to speed up the process.

They offer a "call back service" but it doesn't work and I got cut off every time. They seem to have a chronic 1-2 hour WAIT just to speak to a representative. And one of their sales reps tried to talk me into a policy. I told him, NO I was unemployed and didn't have any income at the time. That didn't deter him in the least. He called me several times at home with a sales pitch and sent me about a half dozen offers through the mail (Cancer policy, etc). What part of "NO" did he not understand? There is more, but this is the gist of it.

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I signed up for a policy in February. Was told that there should be no issue with the policy. Was given what the amount would be etc. They came out, tested my blood and started deducting money for the policy. They only allow check account deductions. (Don't do it.) A month and half later I finally receive the policy in the mail, it has been changed. They won't cover anything that may happen to anything that I have had a complaint about at the doctors. I contact the agent, tell her I want to cancel, get told that I need to sign the sheet that they sent with the policy and fax it to her telling her to cancel. Then she tells me after a week that I need to mail back the whole policy.

2 months later after telling her I wanted to cancel the policy I bypass her and contact the company directly. They try to tell me I need to send a cancellation, that they didn't get it and that it would be 30 days before I would see a refund. I screamed and hollered that I would not accept that so they finally mailed out the refund snail mail. It took exactly a week to get to me, then it wasn't even the full amount that they owe me. It was over 80 dollars short. Tried to call them but of course they are closed and I already know they will tell me it will be another week before I get my refund. I would tell anyone considering this company to run the other way. You do not want to deal with them. Can't imagine how it would be if you actually needed to use the policy. Thank goodness I am not going to wait around to find out and I recommend you don't either.

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My son's father had a life insurance policy with his employer West Side Transport. The policy was with United of Omaha Life Insurance Company, owned and operated by Mutual of Omaha. My son's father passed suddenly. We were told at the funeral home the policy was worth 181,000 dollars and was good. A paper from United of Omaha Life was faxed to the funeral home. After a few days we were notified that the policy was no good. That there had been a mix up between the employer and the insurance company even though the premiums were being take out of his check each pay.

My son's father wanted this money for my son and his family, wife and two grandchildren. My son is a disabled Veteran and this was a way for his father to make sure they could get a home and provide for the grandchildren if anything happened to him (the father). United of Omaha Life Insurance Company has refused to pay now changing their story since my son has filed a lawsuit against them, saying there was a computer error on their end. The case has been decided by District Court in Columbus, Ohio twice in favor of my son, so the insurance company decided to take it to a higher court in Cincinnati, Ohio where it is currently under review and awaiting a hearing.

By the time this case is decided my son will be lucky to get one third 1/3 of the monies his dad intended for him. The attorney fees are astronomical having to hire 3 attorneys to fight this case, whereas the insurance company has all the money and can fight as long as they want. My son will be lucky to have one third 1/3 of the original policy amount left. This has been such a hardship on his family. His father helped him and his family a lot and this was his intention for them to have a home and secure future for the grandchildren. I would recommend no one ever put their family's future or trust into this company. They are horrible people with only money and greed being their interest. DO NOT TRUST THIS COMPANY!

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I was hired on to their company and was required to scam every person I knew. After leaving the company I was required to pay back every penny I made and then some. 2 months worth of 45+ hour work weeks to net -$500. This company is a complete joke and the people running it are con artists. DO NOT get life insurance from them and DO NOT work for them. They promise pie in the sky, hopes and deliver on none of it due to some loophole they add into every policy. You'd be better off putting your money in a retirement account or getting insurance through work.

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There are three adults living in our home. We have three different life insurance companies carrying our policies. My husband has insurance thru Kroger where he works, mine is thru our credit union Kemba, and our son has his insurance thru Mutual of Omaha. We're all happy with our individual choices.

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We took out a life insurance policy. Was not happy the way they treated us. Did not return our money. Not very pleased with them.

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On November 20, 2015, I called asking for loan amount. I explained the dire need. I was told a rush would be placed and should receive within 5 days. Called many times, spoke to different agents. Told was processed on November 24, 2015, mailed November 25, 2015. False. Was not mailed according to post mark until November 30, 2015 and received December 4, 2015. This was not sent as a rush pay. Everyone I spoke to did not tell the truth. My premium is taken out the 5th of every month by Chase since March 2011. Never missed a payment. If I was not fully vested I would cancel my policy. Still upset that a company that I trusted gave me continual misinformation.

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Be warned if you purchase an Easy Start Policy for your young child, thinking the rate you are paying is "locked in" for the rest of your child's life like they say on their website and in all the paperwork. It is very misleading. At age 25, the policy will automatically convert to a whole life policy, and your child's rate will go WAY up! Probably about 4 times higher than the current rate. Now, if you only want cheap life insurance for when your child is young, it's probably worth it. I had peace of mind as my child grew up, knowing I had $18,000 worth of insurance for about $75 per year. But on his 25th Birthday, he got a letter saying it was automatically converting to whole life and his new rate was $240 per year.

A call confirmed there was no way to keep it as a term policy, so basically, 23 years of premiums paid down the drain! The representative also confirmed the whole life policy would build "cash value", however it started building it when it converted, not when it was a "term" policy, so no benefit at all for the previous 23 years of payments. My stock in Mutual of Omaha went WAY down for the misleading way they promote this policy, making you think you are helping your child have an affordable life insurance policy when they are grown, by starting this one early in their life. I'm thankful I don't have any other policies with this company, and never will. Be warned!

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Mutual of Omaha is very affordable. They are well established and a very reputable life insurance company. My family has used this company for all of our life insurance needs and we have never had any complications. When my parents died, they were truly here for us when it came time to cash in the needed policies. We didn't have to wait at all. They really made this awful loss endurable. They even offered to assist in the funeral services.

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They are the best. They have well informed agents that can help me figure out what I need and how much insurance I need to take care of burial expenses plus keep my family from suffering financial loss and keep them surviving much better than if I didn't have the safeguard of insurance.

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Being fairly new to this particular insurance policy, there isn't a whole lot to say about it yet. However, so far it's been great. I can access their online website to make adjustments, contact customer services, and research other products in which this company has to offer. Upon joining, the representative answered every one of my questions thoughtfully. He also offered a complete written manual, which he sent to me by postal mail.

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I'm fairly satisfied with the services that I receive from Mutual of Omaha. I have nothing to say about their customer service because I've never had to use it (except for the first initial contact made when I signed up for life insurance). I have a policy for $100,000 and I pay less than $25 a month, which is a good deal since I'm over 40. I've had my policy for over five years and I have no intention of replacing it.

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Ever since I've become member with Mutual of Omaha I have had all my questions and concerns answered in a timely, caring manner and feel they are truly happy to be there to help me as many times as it may take for me to contact them with any questions and/or concerns I may have.

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I love this company. They are helpful, answer any questions and helped me pick the package that would fit my needs! I have been called from a few places with quotes but no one can beat this price! Your loved ones deserve to be left with enough to cover your expenses after you pass as well as a little extra to help out with the bills as they have missed some work! I am very happy with y'all. Love your service!

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I was happy with my life insurance policy but living on disability couldn't keep up with the premiums. My monthly premium was about $60.00 a month and at first I had no problem paying for it then my monthly cost for prescriptions went up and something had to go. I had to have my medicine so I had to drop my life insurance. Yes, I would recommend Mutual of Omaha Life Insurance to other people looking for a policy.

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I haven't had to use but it is a comfort for me when I pass away my children won't have to worry. I trust Mutual of Omaha. Have never had a problem with their company. Long as I keep paying my bill I'm ok. Think you can have complete trust in Mutual of Omaha. Thank you.

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After being contacted about the insurance through the mail; we returned the paperwork to the company with the stipulation if anything was different than stated, we would reject the insurance. Everything was right on target and has been since having sent it off; approximately 4-5 years ago. We are satisfied policy holders.

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I contacted Mutual in writing and also by phone to tell them I wanted my direct withdrawal to come from a different bank, and this is eight months later and last month... attempted to withdraw it again. They sent me a not so nice reminder that my check did not clear. I felt it was my only way to get their attention.

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I have had this policy for several years and they have always been good about informing me of upgrades and new offers that I qualify for. This is a whole life policy and to date I have been satisfied with the interest rates they are paying. They send statements to keep me informed about the value of my policy.

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I've been with this company for over 6 years and I've always found them helpful & courteous whenever I call. I am comfortable interacting with them on anything. It's a great insurance company anyway...! Usually, insurance terms are 'over-my-head', but I have a pretty good understand of my policy & how it works... I trust them.

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I have had this insurance for many years. Payments are reasonable. My grandparents and my parents all had their policies with them too and when my grandparents passed away they paid all the amount of the policy and I also received a condolence card from them when my father passed away. My mother still insist I pay her policy every month too.

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I called and ask for a receipt for my premium payment that I had paid up to date. I was told by an unqualified rep that the company does not give receipts either by paper or by email. This boggles my mind! When you pay for anything in this economy you always get a receipt after you pay for something. I have to depend on their word that my policy was paid. Then I was told that I missed my August payment which I know I didn't. But if I did, my policy would have been cancelled. Then why are they still accepting my premium payments? There was no written or oral conversation to let me know this. When creating this account to write a review, it states I have been a member since this month, 11/2015! Horrible insurance company!

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I have only had the insurance for three months. I had insurance with MetLife but their coverage increased over the span of twenty years. The coverage amount was only 10,000 but over the span was very costly for the coverage and the insurance would only good for insurance. After shopping for better insurance around the same time I obtained Auto insurance I came across the insurance at Mutual of Omaha. This coverage does not increase but provides me with all the coverage I need to pay for my final expenses.

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I purchased a life insurance policy one year ago and having been making monthly premium payments online. No problem until a few months ago when a payment was not recorded. I then went back on line to confirm and make another payment and it said it was not 'available' to me to make a payment online... what??? I then had to scramble to find the right phone number and got through to a female and she said she couldn't take the payment over the phone and that I would have to mail in a check... what??? So, I did mail a check which was very inconvenient. So, I recently went back in to the site to make an online payment and 'again' would let me do it online. I called again and they said they didn't know what the problem is and trying to find out what to do! I said 'I'm done!' Will NEVER have anything to do with Mutual of Omaha again in any way whatsoever!

Expert Review

Neal FrankleLife Insurance Contributing Editor

Neal Frankle is a Certified Financial Planner in Los Angeles. He is the publisher of WealthPilgrim.com, an information resource for consumers. He has been a professional financial advisor since 1991 and is the editor of www.MCMHA.org.    More about Neal→

Also a Fortune 500 company, Mutual of Omaha was founded in 1909 and is based in Omaha, Nebraska.

  • Product variety: Mutual of Omaha sells almost every type of financial product imaginable.
  • Reputation: Mutual of Omaha is highly rated, and has a long track record in the insurance business.
  • Competition: Mutual of Omaha is a solid company but they may not always offer the most competitive products.

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Mutual of Omaha Life Insurance Company Profile

Company Name:
Mutual of Omaha
Year Founded:
1909
Address:
Mutual of Omaha Plaza
City:
Omaha
State/Province:
NE
Postal Code:
68175
Country:
United States
Website:
http://www.mutualofomaha.com/