Mutual of Omaha runs a lot of television ads, and their name shows up on nearly every “best burial insurance” list you’ll find online. If you’re shopping for a small whole life policy to cover your funeral and final bills, it’s a name you’ll run into fast.
The question isn’t whether Mutual of Omaha is a real, solid company. It is. What you actually want to know is whether their burial insurance fits you, and what it costs once you get past the commercial.
This breaks down what the coverage is, how it works, who it fits, and who should compare other carriers first. RyCo Life Solutions is an independent brokerage, and yes, we can quote Mutual of Omaha. We can also quote the carriers they compete against, so you get a straight comparison instead of a sales pitch.
Quick answer: Mutual of Omaha’s main burial insurance is a whole life plan called Living Promise, underwritten by United of Omaha. It comes in two versions: a Level plan that pays the full death benefit from day one for healthier applicants (ages 45–85, up to $50,000), and a Graded plan for people with more health issues (ages 45–80, up to $20,000) that pays back your premiums plus 10% if you pass from natural causes in the first two years. It’s backed by an A+ (Superior) AM Best rating. There’s no medical exam, but there are health questions, and you can be turned down — though Mutual of Omaha also sells a separate guaranteed-acceptance policy for people who can’t qualify for Living Promise. Comparing carriers before you buy is how you find the best fit.
What Mutual of Omaha Burial Insurance Actually Is
Mutual of Omaha’s main burial insurance is sold under the name Living Promise. It’s a whole life policy, which means three things: the premium is locked in and never goes up, the coverage never shrinks, and the policy builds cash value over time, subject to policy terms. As long as you pay the premium, it stays in force for the rest of your life.
One detail people miss: the policy is actually written by United of Omaha Life Insurance Company, which is Mutual of Omaha’s life insurance arm — so that’s the name you’ll see on the contract. Living Promise is sold in most states, but it is not available in New York.
Living Promise comes in two versions, and which one you get depends entirely on your health:
- Level Benefit — for reasonably healthy applicants. Full coverage from day one.
- Graded Benefit — for people with more serious health history. Limited payout for the first two years.
Level vs. Graded — the Difference That Matters Most
This is where families get surprised. Here are the two plans side by side:
| Feature | Level Benefit | Graded Benefit |
|---|---|---|
| Who it’s for | Reasonably healthy applicants | More serious health history |
| Issue ages | 45 to 85 | 45 to 80 |
| Coverage range | $2,000 to $50,000 | $2,000 to $20,000 |
| Waiting period | None — full benefit day one | Two years on natural death |
| First 2 years, natural death | Full death benefit | Premiums paid plus 10% |
| Accidental death | Full benefit, day one | Full benefit, day one |
A graded plan isn’t a bad thing — it exists so people with health issues can still get covered. Just know which version you’re being offered before you sign, because that first two years is real money to your family. If you can qualify for Level, that’s the one to get.
How You Qualify — and What Happens If You’re Turned Down
Living Promise is what the industry calls simplified issue. That means no medical exam and no needles. Instead, you answer a short set of yes-or-no health questions, and the company checks two databases: the Medical Information Bureau and a prescription-history report. Some applicants also get a short phone interview.
Your application answers and underwriting checks can land you in one of three outcomes: Level, Graded, or a decline. Here are the kinds of conditions that tend to land people in each bucket. These vary by state and application version, and they’re general examples, not the carrier’s exact rulebook:
- More often Level: managed high blood pressure, Type 2 diabetes on pills without complications, controlled depression or anxiety, or a cancer that was treated more than four years ago.
- More often Graded: atrial fibrillation, COPD or emphysema, cardiomyopathy, diabetic complications, cancer treated within the last two to four years, or a heart attack or stroke in the last couple of years.
- More often declined: the most serious or recent situations — congestive heart failure, a heart-disease diagnosis or heart surgery in the past year, active cancer treatment, needing a wheelchair or oxygen, dialysis, or a dementia diagnosis.
Living Promise has no guaranteed-acceptance option built in, so those most serious conditions can get you turned down. But that’s not the end of the road with Mutual of Omaha. They also sell a separate Guaranteed Whole Life policy with no health questions and no medical exam, so eligible applicants in its age range are accepted. It’s a distinct product with its own terms — it covers up to $25,000 and uses the same kind of two-year structure as the Graded plan: premiums paid plus 10 percent for natural death in the first two years, full benefit after that.
So if Living Promise declines you, you still have options — Mutual of Omaha’s own guaranteed plan, or a guaranteed-issue policy from another carrier. A broker who carries multiple companies can sort that out for you in one conversation.
What Mutual of Omaha Burial Insurance Costs
Because it’s whole life, your premium is locked in — it never goes up as you age, and the coverage never drops. What you pay depends on your age, your sex, whether you use tobacco, your health tier (Level or Graded), and your state.
To give you a rough feel, here are sample monthly figures for a $10,000 Level policy, female non-tobacco. Treat them as a ballpark, not a quote — your real rate depends on your health, whether you use tobacco, and your state:
- Age 55 — roughly $28 a month
- Age 65 — roughly $41 a month
- Age 75 — roughly $72 a month
Men pay more than women at the same age. On the Level plan, tobacco users pay substantially more than non-tobacco applicants, with the gap varying by age, sex, and state; the Graded plan uses a single rate class instead of separate tobacco and non-tobacco rates. For a non-tobacco applicant, Graded generally costs more than Level for the same age and coverage. Rates also vary by state and can change over time. The only way to know your real number is a current quote, and you can estimate how much coverage you actually need here before you shop.
What’s Included — Riders and Extra Benefits
The Level plan includes an Accelerated Death Benefit rider at no extra charge. A qualifying terminal illness or an extended nursing-home stay can trigger a reduced, early lump-sum advance of your death benefit. Nursing-home eligibility generally requires at least 90 consecutive days of confinement that’s expected to continue for life (and, in Florida, certain chronic-illness situations qualify). The advance is reduced under the rider’s formula, and the policy ends once it’s paid. Terms and qualifying conditions vary by state.
You can also add an optional Accidental Death Benefit rider that pays an additional benefit if death results from a covered accident, where available. Both of these extras are tied to the Level plan — the Graded plan doesn’t carry them.
Is Mutual of Omaha Financially Strong?
This is one area where Mutual of Omaha is genuinely strong, and it matters — a burial policy is only as good as the company’s ability to pay the claim decades from now.
- A+ (Superior) financial strength rating from AM Best, affirmed in 2026
- Strong marks from other agencies as well (A+ from S&P, A1 from Moody’s, per the company’s own disclosures)
- Founded in 1909, headquartered in Omaha, Nebraska
- Operates under a mutual holding company structure — it answers to its policyholder-members, not Wall Street shareholders
- Received the highest score in customer satisfaction among individual life insurers in J.D. Power’s 2025 U.S. Life Insurance Study
Those ratings give you strong confidence the company will be there when your family files a claim.
Who It Fits — and Who Should Look Elsewhere
No single carrier is right for everyone. Here’s the honest read.
Mutual of Omaha is a strong fit if…
- You’re in reasonably good health and can qualify for the Level plan with day-one coverage
- You want a policy from a highly rated, familiar carrier
- You need somewhere between $2,000 and $50,000 of coverage
You should compare other carriers if…
- You want more than $50,000 in coverage
- You use tobacco — another carrier may price you better
- You’re being offered the Graded plan — it’s worth checking whether a different carrier will give you day-one coverage instead
This is why anyone offered the Graded plan should compare other carriers before accepting it. Two people with the same health can get very different offers, because every company underwrites conditions its own way. One might grade you; another might offer a level-benefit policy with day-one coverage. You won’t know unless someone checks more than one.
A quick note on availability: Living Promise is sold in most states and Washington, D.C., but not in New York. Coverage minimums, and whether the Graded option is offered, can vary by state — so your exact choices depend on where you live.
Where RyCo Life Solutions Fits In
RyCo Life Solutions is an independent, family-owned brokerage — not a call center, and not tied to any single company. We can quote Mutual of Omaha, and we can just as easily quote the carriers they compete against. Our job isn’t to sell you one company’s plan; it’s to find a strong combination of price, coverage, underwriting fit, and features among the carriers we represent. If a different carrier beats Mutual of Omaha for your situation — or gives you day-one coverage when they’d only offer graded — we’ll tell you that. It’s the same reason we tell people to compare before buying a TV-advertised plan like Colonial Penn.
We’re licensed in 48 states (all except Alaska, Hawaii, and New York), we explain everything in plain English, and there’s no pressure. You can see your real price options here, or call 314-876-0334 to talk it over with a licensed broker instead of an automated menu.
Frequently Asked Questions
Is Mutual of Omaha’s burial insurance any good? Yes. Living Promise is a legitimate whole life final expense policy from a highly rated company (A+ Superior from AM Best, affirmed 2026). For a reasonably healthy applicant who qualifies for the Level plan, it offers full coverage from day one. The main thing to watch is which version you’re offered — Level or Graded.
Does Mutual of Omaha burial insurance have a waiting period? Only on the Graded plan. Level has no health waiting period — full coverage from day one. Graded has a two-year holdback: if you pass from natural causes in the first two years, your family gets back the premiums you paid plus 10 percent, not the full amount. Accidental death is covered in full from day one on both plans.
What’s the difference between the Level and Graded plans? Level is for healthier applicants (ages 45–85, up to $50,000) and pays in full from day one. Graded is for people with more health issues (ages 45–80, up to $20,000) and limits the natural-death payout to premiums plus 10 percent for the first two years. Your health answers on the application decide which one you’re offered.
Does Mutual of Omaha require a medical exam? No. Living Promise is simplified issue — no exam and no needles. You answer health questions, and the company checks the Medical Information Bureau and your prescription history. Some applicants get a brief phone interview.
Can you be turned down for Mutual of Omaha final expense? Yes, for Living Promise. Its health questions can result in a decline for the most serious conditions. But Mutual of Omaha also sells a separate Guaranteed Whole Life policy with no health questions and guaranteed acceptance for eligible applicants (up to $25,000), so a decline on Living Promise doesn’t mean you’re out of options with them or with another carrier.
How much does Mutual of Omaha burial insurance cost? It varies by age, sex, tobacco use, health tier, and state. As an illustrative guide (not a quote), a $10,000 Level policy for a non-tobacco woman runs around $28 a month at age 55, $41 at 65, and $72 at 75. Men and tobacco users pay more, and the Graded plan costs more than Level. A current quote gives you your real number.
How does the Mutual of Omaha claim process work? Your beneficiary files a claim form with a certified copy of the death certificate, and Mutual of Omaha reviews it through its standard claims process. How long it takes depends on the claim, the paperwork, and your state, so ask your broker what to expect when you set up the policy.
Is Mutual of Omaha a financially strong company? Yes. It holds an A+ (Superior) rating from AM Best, affirmed in 2026, was founded in 1909, and operates under a policyholder-member mutual holding company structure. It also received the highest score in customer satisfaction among individual life insurers in J.D. Power’s 2025 study.
Our Verdict
Mutual of Omaha’s Living Promise is a solid burial insurance policy from a highly rated company. If you’re in decent health and qualify for the Level plan, it’s a good option with day-one coverage. If your health is more complicated, the Graded plan or a decline is where things get tricky — and that’s exactly when comparing carriers pays off.
Before you sign anything, get a side-by-side comparison. It costs nothing, and it’s the only way to know whether Mutual of Omaha — or another carrier — gives your family the most protection for your money. Compare your real options here, or call 314-876-0334 to talk with a licensed RyCo broker.
Sources
- Mutual of Omaha / United of Omaha — Living Promise product materials and official quoting tool
- Mutual of Omaha — Guaranteed Whole Life Insurance product page, mutualofomaha.com
- AM Best — financial strength rating affirmation, April 2026
- Mutual of Omaha — company financial-strength disclosures, mutualofomaha.com
- J.D. Power — 2025 U.S. Life Insurance Study
About the Author
Ryan Vallett is a licensed life insurance broker and the founder of RyCo Life Solutions, a family-owned independent brokerage that helps seniors compare burial and final expense coverage across many A-rated carriers — in plain English, with no call center and no pressure.
This article is for general educational purposes and is not insurance, medical, tax, or legal advice. Product details, rates, riders, and availability are current as of publication, are subject to change, and vary by state and by carrier. Coverage is subject to underwriting approval. Mutual of Omaha, United of Omaha, and Living Promise are their respective owners’ marks; RyCo Life Solutions is an independent brokerage that can quote Mutual of Omaha among other carriers and is not affiliated with, endorsed by, or sponsored by Mutual of Omaha. For advice about your specific situation, speak with a licensed broker, physician, or qualified professional.