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Mutual of Omaha Life Insurance

Mutual of Omaha Life Insurance
Overall Satisfaction Rating 2.80/5
  • 5 stars
    32
  • 4 stars
    41
  • 3 stars
    27
  • 2 stars
    10
  • 1 stars
    33
Based on 143 ratings submitted in the last year
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    Mutual of Omaha Life Insurance Reviews

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    Page 1 Reviews 1 - 10
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 5, 2020

    My elderly mother had purchased a policy many years ago. She’s been paying a hundred a month and has paid over ten thousand dollars into this policy. My mother is eighty six and decided to cash out this policy, she called and was informed she has to be 100 years old or she’ll receive a little over three thousand dollars!!! She’s paid well over 10 GRAND and never missed a payment. I’ll be contacting the attorney general on this issue. How dare they thieve off the elderly!!

    12 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 19, 2020

    I received an application today in the mail. After filling it out and putting a check in the envelope for the first month payment, I decided to read some reviews of others that had prior experience with this company. I figured it would be best to see how this company had treated other people BEFORE sending in my application and money. WOW, I'M so glad I did!! After reading many reviews, I voiced my check and tore up the application!! I don't need that kind of insurance experience in my life!! Barbara **

    12 people found this review helpful

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      Are you this business?
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 27, 2019

      A few years back, I called Mutual of Omaha about borrowing from my whole life. I was told that I could. The customer rep said I had the option of borrowing to pay back or borrow and my loan amount would lower my insurance amount by the amount borrowed but I would not have to pay it back. I chose to have my amount lowered so I wouldn't have to pay back. I was then sent the check.

      Time went on and I got a letter in the mail that says I agreed to pay back the loan. So I called mutual of omaha about the matter. This man came on and said I agreed to pay it back. I requested that my call be reviewed. I was told that they could not listen to the conversation. I persisted and called again when I got another letter to say I should pay back. This time the person said write a letter to dispute. I did so, and then they said they received it so I called again. This time the person I spoke to say I can request the call I did that and again I was told that it's not avail. It is not right that they can just go about changing agreements. I also asked why was there no letter sent for me to sign when I first ask to take money from the policy so that I could have it in writing. They unfortunately don't do that. So they can always screw the customer over.

      I am still fighting this today but it's been since 2/13 and all I keep seeing when they contact me every once in a while is that the loan amount is like 2 two thousand dollar more than the original loan. This is not right. I have been paying into this insurance for more than 20 years religiously thru automatic withdrawal. I wee from reviews I've read that this kind of thing happens to a lot of people. For the love of money.

      Read full review
      Mutual of Omaha Life Insurance response

      Thanks for taking the time to provide a review. We take your concerns seriously and look forward to hearing how we can better serve you next time. Please email your name, phone number and the best time to reach you to customercare@mutualofomaha.com, and one of our customer care associates will be in touch.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 8, 2019

      My husband, a Veteran of Korea, US Army, saved 122$ a month to purchase a 10,000$ life insurance policy to pay for his funeral. His Social Security check was only $566. A month, he paid for his insurance out of this check. He lived in a nursing home and of course they took everything else he had. At the time of his death my son was the beneficiary of the policy, to pay for funeral expenses. We called to claim them on the policy. The Representative on the phone said, "Oh, you don’t get anything, the State of Texas gets the money!!" Why? Because my son owed child support. His place of employment is taking child support out of his paycheck. But the State of Texas said, "Well his ex might have applied for state assistance sometime in the past."

      Shame on the State of Texas and Shame on the insurance Company! An elderly veteran thought he had everything taken care of, just to be slapped in the face in death. How can this happen? Not one person ever once said if you leave your policy to anyone that has owed the state will get nothing! Where in this policy say; “BEWARE” and be careful who you leave your policy to. The policy was paid for by the deceased not by someone who owes something to the State! So folks ask questions. Find out the facts before you pay years for a policy that you will never get paid on!

      Read full review
      21 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: Nov. 19, 2019

      I pay and not get the money. I pay and Omaha keep the my free money. So do not buy the life insurance. You will not be happy. I am in Washington. At my age I cancel it so no money back. Omaha get free money.

      15 people found this review helpful
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      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 15, 2019

      My father was hospitalized. His policy included coverage for his hospital stay. We called repeatedly to file a claim. Every time we were given the run around. Each time citing some issue we needed to resolve. And a different reason the claim could not be paid. We were even advised that the initial daily fee - which was $75, was actually $50. Even after my father passed we could still not receive the funds due to him and our family. Horrible and inconsistent service. Every time we call the representative says no claim was ever filed. Last rep I spoke to said she would email me "paperwork" to fill out. She never sent anything. What a despicable way to treat people especially after a loss. They don't even deserve one star.

      Mutual of Omaha Life Insurance response

      Hi, Ev. Thank you for taking the time to provide a review. We take your concerns seriously and look forward to hearing how we can better serve you next time. Please email your name, phone number and the best time to reach you to customercare@mutualofomaha.com, and one of our customer care associates will be in touch.

      18 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 27, 2019

      This is the 2nd review as the 1st never showed up. In Sept I requested a 700$ policy loan. I was told it was mailed on Oct 14. Mailed with no tracking # or signature requirements. 12 days and nothing. They will cancel and issue me a new check (won't direct deposit) but I can pay $25 and they will overnight it. However it will take X days for them to do it. This is the worst co I have ever dealt with in my 30+years of working in the life ins industry. I wonder if my beneficiary will get the small face amount!!

      Mutual of Omaha Life Insurance response

      Hi, Jacqueline. Thank you for taking the time to provide a review. We are sorry to hear about your poor customer experience. We take your concerns seriously and look forward to hearing how we can better serve you next time. Please email your name, phone number and the best time to reach you to customercare@mutualofomaha.com, and one of our customer care associates will be in touch.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 22, 2019

      I've had this insurance for a few years. Each year the premium increases. This year the increase is 30%. The so called customer service (the customer is NEVER right) says it's because I'm 4 years older and the amount of claims in my state. My age did not increase by 30% nor have my claims increased by 30%, in fact in the last year there have been few claims submitted. I thought Medicare costs were going down not being increased. They take advantage of older people.

      Mutual of Omaha Life Insurance response

      Hi, Kate. Thank you for taking the time to provide a review. We understand your concerns with rate increases. While it’s not our desire to raise rates, we do our best to minimize rate increases unless they’re absolutely necessary. We’d like to listen if you’d like to talk with one of our customer care team about the specifics of your policy. You can reach us at 800-775-3000 or email your preferred contact number and the best time to reach you to customercare@mutualofomaha.com.

      12 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Oct. 16, 2019

      I had this company for my children's life insurance since 1999 and as soon as my sons turned 24 and 25 years old there was an issue of them needing to pick a beneficiary and I paid their policies and I was their beneficiary. Never missed a payment for as long as they had their policies. Then the policy skyrocketed so they canceled it but don't go with this company. They are scammers and it's too many people with the same problems. No payout. Just taking people's hard earned money. Not worth it. Mrs. Tekkia **

      20 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 14, 2019

      I have a Index Universal Life policy with Mutual of Omaha. The policy was sold to me as generally risk free and could cancel in the first three years. This is year 3. Life has happened and this product is no longer in my best interest. If I cancel today I get 1% of what I have paid back. Customer Service can not explain why the high fee except to say "This is the policy I purchased." There is no documentation that explains the high cancellation fee in the policy that I or Customer Service can find.

      Mutual of Omaha Life Insurance response

      Hi, Stephen. Thank you for taking the time to provide a review. We take your concerns seriously and would like to look into this further. Please email your name, phone number and the best time to reach you to customercare@mutualofomaha.com, and one of our customer care associates will be in touch.

      8 people found this review helpful
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      Mutual of Omaha expert review by Neal Frankle

      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.

      by Neal Frankle Life 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.

      Mutual of Omaha Life Insurance Company Information

      Company Name:
      Mutual of Omaha
      Year Founded:
      1909
      Address:
      Mutual of Omaha Plaza
      City:
      Omaha
      State/Province:
      NE
      Postal Code:
      68175
      Country:
      United States
      Phone:
      (402) 342-7600
      Website:
      www.mutualofomaha.com

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