Quick Summary: Mutual of Omaha is an extremely strong well-known company but many of our clients can do better if you need a policy that doesn't require a physical exam. Renewability up to age 100 without new proof of insurance is a unique benefit that will interest some. Has nice options for policy customization and a maximum death benefit of $400,000.
Prepare for the MOO underwriters to do a few digital checks that will include:
The Medical Information Bureau is a service that insurers subscribe to. They share information on past life insurance denials.
So If: If you just got denied at another company because of a history of seizures, they will be able to see this. Skipping the exam won't save you here.
Underwriting will try to approve you 100% electronically but if anything jumps out, they may request an APS from your doctor's office to take a closer look. This can delay the process for a few weeks, much of which is dependent on how quickly your doctor responds to the request.
Mutual of Omaha is not the fastest for underwriting decisions in the no exam world. While some carriers will have decisions in minutes, MOO will take at least 1 week and considerably longer if medical records are requested.
Extras and Options
Mutual of Omaha includes 4 riders at no extra cost:
- Accelerated Death Benefit Rider
- Waiver of Premium for Unemployment Protection
- Residential Damage Rider
- Disability Income Rider
For a little more money, you can choose to add a Disability Income Rider if you choose. This pays out a sum of money monthly if the insured becomes disabled.
May convert to a permanent policy regardless of health before the initial level term period ends or up to age 70. This includes MOO's guaranteed universal policy.
Mutual of Omaha's no medical life insurance is priced higher than most others.
Sample No Exam Quotes - Mutual of Omaha Term Life Express
40 year old male at Standard health class - pricing listed is per month
35 year old female at Standard health class - pricing listed is per month
Use our quoting tool to see the rate you'd pay for a Mutual of Omaha no exam policy.
How to Find the Best No Exam Policy
There are lots of companies now offering no exam life insurance coverage, including Mutual of Omaha.
How do you know which is best for you?
You need to research the different companies well as the specific policies and compare strengths and weaknesses. Price, is of course, important, but it's not the only factor.
When researching insurance companies, you absolutely must find out about their underwriting guidelines specific to any health conditions you may have. Every company is different. Getting a better health class rating can save you lots of money, you just need to know where to apply.
The best way to do this is to work with an independent agency that is: