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I purchased simplified issue whole life insurance through an independent agency. Choice Senior Life. The experience was online and through the phone. Finished the process with 2 emails and 1 phone call. Took about 30 minutes total. Price was extremely competitive and was not the lowest but one I was comfortable with. All the prices were within a few dollars of each other. The policy was delivered to my home in 10 days, which I felt was too long. My agent at https://choiceseniorlife.com said that was normal. I recommend shopping around but Mutual of Omaha does seem to have good service and pricing.
I took out a loan on my policy, which I have had since 1999, Had no problems. The check arrived as promised. Sorry to hear about all of these other bad experiences. The representative was knowledgeable,courteous, great customer service, made me happy to be a Mutual of Omaha Customer. I have an extra application that was mailed out to me from the company, and I am having my daughter cancel out her policy with her now existing insurance co. and apply to Mutual Of Omaha. That's how pleased I am with their service.
They are very prompt with payments. Can get billing summaries online or paper that explain all costs. Have been with them over 4 years and have never had to question any issues or pay any additional expenses other than my deductible.
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 **
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.
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I received a letter from Mutual of Omaha that my life insurance was expiring in five days. I noticed the letter was dated one month prior to my receipt. So after 26 years of payments they were going to cancel me in five days. I called them and told them that, "I would pay now over the phone the amount required to avoid cancellation with a credit card." They told me it was too late. Send a wire transfer or get cancelled. I was taken by surprise at this response until I realized that this is how they would save 100K if I did not get this payment in on time, in 26 years always on time and now at 75 years old they saw the chance to escape their obligation.
It is a whole life policy sold to me by a friend and I did not know the cost of insurance increased and the interest rates dropping in effect exceeded the amount I have been paying. Their first response on the phone was, "I can take a payment on your credit card" followed by, "It's too late. I cannot get a payment screen on my computer, wire the money." When you get old the entire business world waits to pounce on you if given the slightest opportunity. It is the new American way. There is no way to avoid it! It's like walking through mine field and Mutual of Omaha has a lot of explosives ready for us seniors to step on! Right now I am headed to the bank to do a wire transfer and awaiting the next pitfall! Chuck ** Southbury CT.
Hi, Chuck. 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 email@example.com, and one of our customer care associates will be in touch.
My mom and I were in an accident that almost killed us both. Ultimately she passed due to the trauma of the accident. A transfer trailer came over on us. She could not get past the horror and died of delirium. The policy covered the accident if it contributed to her death which it did. It's been 6 months and they still keep saying they are waiting on paperwork. Mom was on a fixed income and had the policy 12 years. Never missed a payment. Debra ** is a liar, I have basically had to file a formal complaint with the insurance COMMISSIONER! I hope they are fined. I have an attorney involved in the accident and the said if Mutual does not pay the claim they will file a lawsuit. It's pitiful after losing my mom, I grieve daily and have to deal with these crooks. Do not dare consider this company. THEY ARE THIEVES AND TAKE ADVANTAGE OF ELDERLY! WE WILL BE FILING AN AGE DISCRIMINATION CASE ALSO!
Hi, Merelyn. Thanks 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 firstname.lastname@example.org, and one of our customer care associates will be in touch.
I had purchased a term life insurance policy for my daughter when she was 2 years old. Now she is 25 years old and the policy has changed to whole life insurance, I was never told that the term life would change into whole life, the premium is now 3 times higher. I called the company, and told them that I did not want the whole life and wanted her policy to stay term life, they said I could not keep the term life. I had to cancel the policy, paid all this money for nothing. Luckily I also had bought a policy with Gerbers when she was born. I will just add the money to that policy. This company just takes people's money, changes policy rules when they see fit. They hope you cancel like I did, because they made money off of me for 20 plus years. But no more, if you are looking for a policy for your children or grandchildren go to Gerbers.
Amy ** is absolutely horrific - I have never written such a negative review but as poor as is her professionalism (or rather as rich as she lacks any of it!) - I won't be surprised if this isn't a defect the company will keep around. Whatever the matter - do not go to her. She does not follow up or get the job done when it comes to being a liaison between you and the insurance company. When I inquired with her why her effort was so weak in attempting to help us get an answer from the company, her response was that she had other clients to get to...despite us mutually agreeing to continue our reach-out.
This was after her deliberate lack of responsiveness and over A MONTH of no answers from the insurance - she was totally comfortable with those circumstances and took for granted the level of patience I was exercising with her, to the point of her being relieved and downright COZY in brushing me off. Not direct, beats-around-the-bush, and entirely amateur when it comes to resolving issues as an agent. Being as uninformed as she was, she had caused several confusions between the client and the company that she was not willing to clarify, although initially she was deceptive that she would. Most importantly - those confusions costed us the chance of approval with a great company. A shorter review? She will not get the job done - complete and utter waste of time.
Thank you for taking the time to provide a review. We take your concerns seriously. Please email your name, phone number and the best time to reach you to email@example.com, and one of our customer care associates will be in touch.
Hard to get through had to call numerous numbers to contact some. I'm not sure if I should continue with all the bad ratings. Just started on 9-6-2019.. I may have to call around and cancel. It's too many people are saying this company is a scam. Have to drive more research..
Hi, Sophia. Thanks for taking the time to provide a review. We take your concerns seriously and would like to talk with you further. Please email your name, phone number and the best time to reach you to firstname.lastname@example.org, and one of our customer care associates will be in touch to help answer any questions you may have.
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.
Mutual of Omaha Life Insurance Company Information
- Company Name:
- Mutual of Omaha
- Year Founded:
- Mutual of Omaha Plaza
- Postal Code:
- United States
- (402) 342-7600