Mutual of Omaha Guaranteed Universal Life Insurance Reviews

Mutual of Omaha Guaranteed Universal Life Insurance Reviews
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    Mutual Of Omaha Guaranteed Universal Life Insurance Reviews

    One of the top life insurance companies in the marketplace, Mutual of Omaha offers an excellent Guaranteed Universal Life insurance option to shoppers. With Guaranteed Universal Life (GUL) you can quickly and easily compare plans just like you would with term life insurance. Just know that there are some differences between GUL and Term. To learn more about GUL products (also known as Term to 100 or Lifetime Term) please read an overview of GUL here.

    What company is the best?

    Are you just looking for the best Guaranteed Universal Life insurance companies? We reviewed the top rated GUL companies right here.

    Mutual of Omaha Life Insurance Company

    Financial Strength
    Review Summary

    Mutual of Omaha is an excellent carrier that offers shoppers whole, term and universal life insurance options. They also offer shoppers Medicare Supplements, critical illness, disability, long-term care insurance and annuities.

    mutual of omaha best life insurance company

    About Mutual of Omaha

    Mutual of Omaha is a well respected company and is listed in the Fortune 500. They are located in Omaha, Nebraska and was founded back in 1909. In the beginning, they were actually called the Mutual Benefit Health and Accident Association. Since that time, they’ve grown quickly and now have a few well know subsidiaries named United World and United of Omaha.

    Mutual of Omaha is one of the most well known life insurance companies due to their relationship with the classic TV show, Wild Kingdom. Overall, Mutual of Omaha is a financially strong and stable life insurance company.

    Let’s look more closely at Mutual of Omaha’s financial ratings and Guaranteed Universal Life insurance policies.

    Mutual of Omaha Financial Ratings

    Financial Strength Ratings

    How to choose? If you’re comparing companies & looking to choose from two carriers, one rated A+ and one rated A++, either one is likely to be there when you need it. However, if you’re picking carriers that are rated B+ and A+, financial strength could factor in your buying decision. Try to avoid companies that 1 or more financial agencies rate as potentially vulnerable.

    Mutual of Omaha GUL Products

    Mutual of Omaha offers four guaranteed universal life insurance products:

    1. GUL
    2. GUL Plus
    3. GUL Express
    4. GUL Survivor
    Let’s look more closely into these Mutual of Omaha’s GUL products.

    Guaranteed Universal Life (GUL) is a type of universal life insurance- but doesn’t have the market risks of UL.

    Your premiums remain the same with GUL just like term life. With a GUL, you get coverage with a “no-lapse” guarantee. This means that if you pay your insurance premiums, you’ll always be covered. GUL is not made for cash value and it resembles and functions similarly to term life insurance. Term life insurance only covers you for a set number of years. GUL covers you to a specific age such as: Age 90, 95, 100, 110, or 121.

    Mutual of Omaha GUL

    Issue Ages

    Ages 18-85

    Minimum Benefit Amount


    Coverage Lengths

    Ages 90, 95, 100, 105 and 120

    Maximum Benefit Amount

    Over $10,000,000

    GUL Plus

    Issue Ages

    Ages 18-85

    Minimum Benefit Amount


    Coverage Lengths

    Ages 90, 95, 100, 105 and 120

    Maximum Benefit Amount

    Over $10,000,000

    GUL Plus has the same benefits as the GUL with a couple of differences:

    • Better for short pays &1035s
    • 50% interest rate bonus beginning 10th policy year

    GUL Express

    Issue Ages

    Ages 18-85

    Minimum Benefit Amount


    Coverage Lengths

    Ages 90, 95, 100, 105 and 120

    Maximum Benefit Amount


    GUL Express features:

    • Health classes are: standard tobacco and standard non-tobacco
    • A Guaranteed interest rate of 3%
    • There is a guaranteed 20-year minimum coverage to age 120
    • Included accelerated death benefit for terminal and chronic illness
    • At the beginning of the tenth policy year you’ll get a 50% interest rate bonus

    GUL Survivor

    Issue Ages

    Ages 18-85

    Minimum Benefit Amount


    Coverage Lengths

    Ages 90, 95, 100, 105 and 120

    Maximum Benefit Amount

    Over $250,000

    GUL Survivor features:

    • A Guaranteed interest rate of 3%

    >>Read more about getting coverage to specific ages like:

    Quotes and Sample Rates

    Now let’s look at how much the Mutual of Omaha GUL policy can cost. Below are some sample annual rates for a healthy non smoking 46 year old man.

    Death Benefitto Age 90to Age 100to Age 121

    Does Mutual of Omaha have the best rates?

    Mutual of Omaha has great rates, but will some other company like Banner Life, American National, or Lincoln National, get you a better deal? If you want to make sure you’re getting the best life insurance policy available, here’s what you need to do…

    Compare Quotes

    Use our online instant calculator to compare rates from dozens of the top companies.

    Total Time Needed: 5 minutes
    Total Cost: 0 USD

    Required Tools:

    - A Computer.
    - Internet Connection.

    Things Needed?

    - A pen
    - A piece of paper

    Steps to get an accurate quote

    Use the calculator on this page or click the link above to visit our instant quotes page.
    Step 2 : Input coverage details
    Fill out the basics about what you’re wanting, how much coverage, for how long, etc. That way we can understand your situation before we can help you. Complete the calculator details as accurately as possible, and be absolutely sure your contact information is correct so we can reach you.
    Step 3 : Get help from a licensed agent
    Once you’ve filled out the calculator, one of our licensed agents will  provide you all your options and plan out who will provide you the best rate based on your specific health and goals. All of the recommendations will be based off of the details you provide. It’s very important that you're honest and answer your agent's questions accurately. 
    Step 4 : Compare realistic rates
    This is where we really begin working to figure out exactly which company will get you the best rate, and how to make it happen. There are literally hundreds of companies and thousands of policy options available. We'll make sure you get the best one based on what you'll qualify for.


    Mutual of Omaha uses your actual age for product pricing

    Most life insurance companies will use your nearest birthday when pricing their rates.  For example, if you turn 30 on 1/1/18 and you get a quote in 10/1/18, most companies will consider you as age 31.  That’s your nearest birthday because you’re closer to at 31 than age 30.  However, Mutual of Omaha will use your “Actual Age” pricing. This can be a huge advantage and save you considerable money now and over the life of your policy.

    Guaranteed Refund Option (GRO)

    • This “Option” means that policyholders have to choice of whether on not they want to select this option. The GRO is not a rider.
    • The GRO provides you 7 seven separate “60-day opportunities” that your life insurance policy can be surrendered. You can surrender your policy for a full refund of the premiums that you’ve already paid. The 1st opportunity is at the end of year 15. At the end of year 15, you can get 50% of the premium back.  100% of your premiums can be received during the other 6 opportunities. These occur after years 20, 21, 22, 23, 24 and 25.
    • The Guaranteed Refund Option is often compared to a Return of Premium term life policy in how you get back the premiums you’ve paid.

    Chronic Illness and Accelerated Death Benefit Riders included

    These life insurance riders are included at no extra cost.

    • Chronic Illness Rider: You are able to get a portion of your death benefit if you can’t perform two of the six listed ADLs or Activities of Daily Living.
    • Accelerated Death Benefit Rider: If you have a qualifying diagnosis where your life expectancy is determined to be 12 months or less- you can access a portion of your life insurance death benefit.

    Competitively Priced

    Many life insurance companies have a niche where they’re one of the best. With Mutual of Omaha, they’re a great choice for GUL policies with high benefit amounts. If you’re looking for a GUL policy for $250,000 or more- Mutual of Omaha should be looked at closely.

    Missed a premium payment? No worries!

    Mutual of Omaha really separates from the pack with this feature. With Mutual of Omaha’s GUL and GUL Plus plans, you are able to catch up missed premium payments without losing your guarantees. Most carriers are pretty strict with when premiums have to be paid. Make sure to read the specifics of this policy feature.



    Mutual of Omaha is just one of many life insurance companies in the market. They don’t offer every option and they aren’t always priced the best. Depending on your health and age- another carrier may give you a better deal.

    Health Class Ratings

    Life insurance classifications are important because they affect your premium. The better your health class rating, the lower your premium will be with. All companies (including Mutual of Omaha) classify you differently.

    These are the health classes that are offered for most of Mutual of Omaha’s products:

    Underwriting Information


    Not all life insurance companies will look at you the same. Mutual of Omaha and every other life insurance company has their own underwriting guidelines. Here are Mutual of Omaha’s underwriting strengths and weaknesses:

    Life insurance underwriting is the process of a company looking at the level of risk you present to the insurer. Once they can determine your risk level- they can decide the cost of the premium for you. This is similar to how a car insurance company will ask you if you have had any previous moving violations, accidents, DUI or license suspensions before providing you your final rate.

    Learn more: Underwriting


    These conditions typically get a better rating compared to the competition:


    These conditions may get a better rating with another carrier:

    Life Insurance Riders

    Let’s look at what life insurance riders are available with this guaranteed universal life insurance policy.

    Included for free:

    Included with extra cost:

    Life insurance riders are some additional benefits that can be added to a life insurance policy. Some riders are included for free and some are an additional cost. These riders provide you the ability to increase or limit the insurance coverage of your policy. Not all companies offer every rider.

    Learn more: Life Insurance Riders

    How to buy the best Guaranteed Universal Life policy?


    We cannot stress enough the importance of using an independent life insurance agent to help you choose the right GUL product at the most affordable price possible. 

    Independent life insurance agents have access to multiple companies. We know which life insurers offer the best rates when it comes to buying guaranteed universal life insurance.

    We hope this article gives you a good overview of guaranteed universal life insurance. GUL policies are a great solution for many shoppers that can provide protection for your loved ones.

    Final thoughts

    Always work with a licensed impartial life insurance broker who represents dozens of life insurance companies. We help our customers pick the best life insurance carrier and options that’s right for them.

    We do not push any companies because we have access to all the best rated life insurance carriers. We don’t try to put shoppers into a plan that is not suitable for their goals and needs. Our number one concern is our clients and future policyholders.

    We offer you free life insurance consultations and work with you to understand your goals and then help you with an appropriate recommendation.  So, what are you waiting for?  Contact us today or visit our Life Insurance Quotes page and see how we can help you!

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    Michael Quinn

    Michael is a licensed life insurance agent, expert & owner of Life Insurance Blog. LIB has helped thousands of shoppers understand life insurance and secure affordable coverage.

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