Mutual of Omaha Living Promise: Is It Right for You?

Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in…

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Written by



Rachael Brennan

Licensed Insurance Agent

Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by



Benji Carr

Former Licensed Life Insurance Agent

UPDATED: Jan 17, 2022

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Quick Facts

You can apply for a Mutual of Omaha Living Promise policy online
No medical exam is required
Individuals with pre-existing health conditions may be denied coverage

Provides a death benefit that never decreases
Offers insurance free of medical exam
Designates applicants as being eligible for a level or graded death benefit
Assists with final expenses

Now, you may be wondering what differences there are between a level and graded death benefit. Let’s examine the two and what each one has to offer you.

Level Death Benefit

Individuals deemed eligible for a level death benefit, live in any state but New York, and are between the ages of 45 and 85 could purchase as little as $2,000 in coverage or as much as $40,000. The policy is guaranteed until the age of 100, and you can add both accelerated death benefit and accidental death benefit riders to the policy.

While these riders shouldn’t be viewed as a Mutual of Omaha medicare supplement, they can certainly be used. Most importantly, the death benefit will be paid to the named beneficiaries if you pass away within two years of purchasing the policy.

Graded Death Benefit

Individuals eligible for a graded death benefit and who live outside of Arkansas, Montana, New York, or North Carolina can purchase anywhere from $2,000 to $20,000 in coverage if they are between the ages of 45 and 80. The Mutual of Omaha Living Promise life insurance rates for a graded death benefit also tend to be more expensive for applicants.

Now, if you were to die within two years of owning this policy, there would be a hold on the death benefit. Instead of the full death benefit, your beneficiaries would only receive the premiums you paid plus the 10% interest earned on those paid premiums. However, if you were to die after owning the policy for two years, your beneficiaries would receive the full death benefit that you had purchased.

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How can individuals apply for a Mutual of Omaha Living Promise policy?

The Mutual of Omaha Living Promise Underwriting Guide

Is Mutual of Omaha customer service well regarded?

It’s always important to study how well a company treats its clients before you decide to do business with it. According to the NAIC, Mutual of Omaha did receive a high number of complaints from clients.

Thankfully, reaching out to a customer service representative can be done by calling Mutual of Omaha’s customer service line, or you can reach out to your local insurance representative directly.

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Mutual of Omaha Living Promise: What You Need to Know

With the Mutual of Omaha Living Promise policy, you can prepare for the expenses that come with the end of life. While there isn’t a traditional medical exam, questions about your medical history will be asked. How you answer will determine if you are eligible for a level or graded death benefit.

The Mutual of Omaha Living Promise can relieve a financial burden from your loved ones’ shoulders during a very trying time. However, you can always shop online to find the best life insurance policy for you.

Compare a Mutual of Omaha Living Promise policy to the competition today. Enter your ZIP code below to receive free life insurance quotes today.