Review: Mutual of Omaha – Guaranteed Universal Life Insurance

MOO just misses the top 5 in our updated 2023 guide: Best Guaranteed Universal Life Insurance (GUL) Companies.

Quick Summary: Our experience tells us that Mutual of Omaha's guaranteed universal product is a strong option for many clients. You can find cheaper pricing but the value is excellent including an option (your choice) to refund all your premiums in the future. This is not the #1 GUL product we suggest but is top 5 and works great for certain people.

About the Company - Mutual of Omaha

Mutual of Omaha insurance company logo

Also sometimes referred to as MoO, Mutual of Omaha was founded in 1909. They are one of the most well-known companies in the United States when the average person thinks of life insurance. The life insurance division operates as United of Omaha Life Insurance Company.

All the major financial rating services give MoO very high marks including at A+ grade from A.M. Best.

Mutual of Omaha currently has over 40 Billion in assets and a reported net income of close to 400 million per year. This is important when purchasing a lifetime policy. You want to make sure the carrier you choose is not going anywhere and they certainly fit this bill.

What is Guaranteed Universal Life Insurance? (expand to learn more)

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About the United of Omaha Guaranteed Universal Life Insurance Policy

Product Name

Guaranteed Universal Life

Death Benefit

$50,000 to No Maximum


18 to 85

Coverage Length

To age 90, 95, 100, 105, 110, or 121

Mutual of Omaha Underwriting Secrets

United of Omaha is a leader in innovative underwriting which includes their Fit Underwriting Credit Program. This program looks at 14 different lifestyle and health factors such as driving record and tobacco use.

The Fit program can take people who would otherwise be rated low (substandard) and move them up into a higher class which can mean big savings on your premium payments.


The secret to finding the cheapest life insurance rates is applying at the company that will view you most favorably.  Just going with the one that shows the lowest rates can be a BAD idea and end up costing you more money.

MoO underwriting is competitive and forgiving for the following situations:

  • Family history of cancer and heart disease  
  • Sleep apnea
  • High total cholesterol; will focus more on HDL ratio and allows medications to control
  • Currently receiving SSDI payments for disability

United of Omaha may NOT be a good choice for:

  • Recent weight loss; may not give full credit and gauge on slightly higher weight
  • Recently quit smoking

Cost - Sample Rates

Sample Mutual of Omaha guaranteed universal life insurance quotes:

50-year-old male at Preferred health class - pricing listed is per month

Death Benefit

to Age 90

to Age 100

to Age 121













48-year-old female at Preferred health class - pricing listed is per month

Death Benefit

to Age 90

to Age 100

to Age 121













Our custom quote tool on this page displays only guaranteed universal quotes so you can cut through the clutter. Please note that some carriers do not allow us to display their rates online. We will discuss if there are other options that might be a better fit.

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Excellent policy options including return of premium

One of the strongest life insurance companies around

Fit Underwriting credits can move you up in health class


Pricing is more expensive than some competitors

Extras, Options, and Flexibility

The guaranteed universal product from Mutual of Omaha is very flexible and includes many options baked into the base policy that would cost extra at other carriers.

Automatically Included at No Extra Cost

Guaranteed Refund Option - If in the future you decide you no longer need the coverage, you can surrender your policy for premium refund. Get all the premiums paid into the policy returned to you within a 60-day period following the 15th, 20th, 21st, 22nd, 23rd, 24th, and 25th policy anniversaries.

This is a great option and costs you nothing. Similar to the return of premium rider that AIG includes in their competing product.

Accelerated Death Benefit for Terminal Illness Rider -  If the insured is diagnosed with an illness that gives them less than 12 months to live or less, access a portion of the death benefit early. Benefit amount may not exceed the lesser of $1,000,000 or 80% of the policy face amount.

Accelerated Death Benefit for Chronic Illness Rider - Take accelerated living benefits for a chronic illness where the insured is unable to perform 2 of the 6 Activities of Daily Living (ADL's). May request up to $1M or 80% of the death benefit, whichever is lower.

Waiver of Surrender Charges for Partial Withdrawal Rider - Waives policy surrender charges for certain events including unemployment, disability, cancer, and nursing home confinement. 

Plan Adjustments - As live changes, you have the option to tweak the policy to meet your financial needs.

such as....

available options on the united of omaha guaranteed universal life insurance policy

GUL Plus

The guaranteed universal life plus product is an option that is available for 1035 exchanges

Additional Options - At a Cost

Customize you GUL policy even further with more choices:

Disability Waiver of Policy Charges Rider - If the insured becomes disabled for 6 months or more, this rider will waive the monthly deduction charges.

Guaranteed Insurability Rider - Option to increase your death benefit in the future regardless of your health.

Accidental Death Benefit Rider - Your beneficiaries receive an extra amount of money in the event of accidental death.

Dependents Children's Rider - Purchase a small life insurance policy on your dependent children (age 0 - 20). They can convert to a permanent policy later without medical underwriting.

How To Make Sure You Choose the Right Universal Life Insurance Policy

The best advice I can give is to always work with an independent agent. If you call a company direct, they'll only push their products on you, and you save nothing. Rates are fixed by your state laws.

Life insurance is the ONLY thing we do. We know the ins and out of 60+ companies and can find you the lowest rates. Every. Single. Time.

To get started, fill out a quote request and we'll be in touch soon to help.

independent life insurance agents helping to secure affordable life insurance coverage

No pressure or cost to use our help.

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  • Ty Stewart

    Ty Stewart is a founder and contributor of He started researching and studying about life insurance when he got his first policy for his own family. He has been featured as a life insurance expert speaker at agent conventions and in top publications. As an independent licensed life insurance agent he has helped clients nationwide to secure affordable coverage while making the process simple. Stewart Ty
  • Bennett Bier

    I’m Bennett Bier, owner, author and fact checker of Simple Life Insure. I believe working with a small independent broker offers consumers more personal attention and superior customer service. As an independent agent licensed in all 50 states and the District of Columbia I have access to many of the top A+ rated life insurance carriers. This lets me locate a plan that you will qualify for while saving you money at the same time. Over the years I have mastered the art of underwriting, getting approvals even for my highest risk clients. I’m also likely the person that will answer the phone when you call. Bier Bennett