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United of Omaha Life Insurance Company Review

Rating: 8.9 / 10 (Excellent)
Disclosure: We receive advertising revenue from this partner. Learn more.
United of Omaha Life Insurance Company is a subsidiary of Mutual of Omaha. Founded in 1909, Mutual of Omaha is a privately held, Nebraska-based mutual insurance company. Mutual of Omaha offers a broad range of life and health insurance policies, among them dental, disability, accident, and critical illness. United of Omaha Life is a AM Best A+ rated branch of Mutual of Omaha that offers whole life policies.

How is United of Omaha Life rated?

Breakdown

9/10
Financial Strength
10/10
Customer Experience
8/10
Policies
9/10
Flexibility

Overall Rating: 8.9 / 10 (Excellent)

United of Omaha Life is a Mutual of Omaha company. Mutual of Omaha has been a leading provider of financial and life insurance products since 1909. The company, which boasts a strong financial reputation and above average customer ratings, offers term and permanent life insurance products and related services. Although their plans provide standard coverage and few optional riders when compared with similarly sized carriers, their enrollment process is simple, and their policies are accessibly priced.

Financial Strength

Key Details

Underwriter
Mutual of Omaha Insurance Company
Marketshare 2016
1.21%
Premiums Written 2016
$1,444,483,149
Standard & Poor's Financial Rating
AA-
Moody's Financial Rating
A1
AM Best Financial Rating
A+

Financial Strength - 8.5 / 10

Backed by Mutual of Omaha, United of Omaha Life can rely on the larger company's solid financial reputation, which boasts a stronger than average ability to repay short term debt in the foreseeable future according to The Big Three credit-rating agencies. Mutual of Omaha holds an A.M. Best financial rating of A+ (Superior), a Moody's credit rating of A1, and an S&P rating of AA-.
*The above information reflects the financial strength of the underwriter of the United of Omaha Life life insurance policies: Mutual of Omaha Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAICS Complaint Ratio 2016
0.65
NAICS Total Complaints 2016
65
*The NAICS complaint ratio (in this case 0.65) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

J.D. Power 2016 Life Insurance Study

JD Power Overall Customer Satisfaction Score
3 out of 5 (About Average)
Annual Statement & Billing
3 out of 5 (About Average)
Price
3 out of 5 (About Average)
Policy Offerings
3 out of 5 (About Average)
Interaction
3 out of 5 (About Average)

Customer Ratings

BBB Rating
A+
Number of BBB Negative Reviews
4
Date Collected
2017-06-28

Customer Experience - 10 / 10

Underwritten by Mutual of Omaha, United of Omaha Life has received an overall customer satisfaction rating of 3 out of 5 according to JD Power's 2016 U.S. Life Insurance Study. The company also has a below average volume of customer complaints according to the NAICS Association. For a company of its size, Mutual of Omaha's negative online complaints are quite low.

United of Omaha Life Policies

United of Omaha Life offers customers the following life insurance policies: Whole Life. Because we feel that Term Life insurance is a superior choice for most customers, we've focused our review on the United of Omaha Life Term Life policy.

Key Term Policy Features

  • Guaranteed Level Premiums
  • Accelerated Death Benefit

Policies - 8.3 / 10

United of Omaha Life only offers whole life insurance. Their plans feature guaranteed level premiums and accelerated death benefits, depending on the product selected. United of Omaha Life's whole life plans are for those aged 45-85 and come with a graded death benefit. If death occurs from natural causes in the first two years, the beneficiary will receive the premiums paid plus 20%. After the two years they will receive the full amount. Policies also build cash value that can be borrowed in the future. Although this is a rather narrow set of policy options, customers filling out United of Omaha Life's quote form agree to be contacted by Mutual of Omaha agents, who can provide a much larger set of policies commensurate with the larger organization's reputation.

Flexibility & Available Riders

Flexibility - 9 / 10

Although United of Omaha Life's whole policies are rather light on optional riders when compared to most other life insurance carriers we evaluate, they do offer a Motor Vehicle Accidental Death Benefit Rider which provides extra coverage for accidents. If the covered person dies as a result of injuries sustained during a motor vehicle accident, the policy will pay out double provided certain stipulations are met.

Additional Company Information

Homepage URL
Company Phone
(402) 342-7600
Headquarters Address
3301 Dodge St., Omaha, NE, 68175
Year Founded
1909

Our Partner
8.9 / 10
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