Liberty Mutual vs. Mutual of Omaha: Top Life Insurance in 2024
When you compare Liberty Mutual vs. Mutual of Omaha life insurance rates, you’ll find that Mutual of Omaha is slightly cheaper. Mutual of Omaha also has more policy options and better financial ratings than Liberty Mutual. Comparing Liberty Mutual vs. Mutual of Omaha will help you determine the best fit for your needs.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
UPDATED: Mar 15, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Mar 15, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Mutual of Omaha has lower rates than Liberty Mutual
- Mutual of Omaha has more policy options than Liberty Mutual
- Mutual of Omaha has been rated better than Liberty Mutual by A.M. Best
While both Liberty Mutual and Mutual of Omaha offer whole life and term life insurance quotes, only Mutual of Omaha provides universal life coverage.
Mutual of Omaha has lower rates, more policy options, and better financial ratings. Comparing Liberty Mutual vs. Mutual of Omaha will help you make the right choice.
Before starting this Liberty Mutual vs. Mutual of Omaha comparison, enter your ZIP code to get free life insurance quotes in your area.
Liberty Mutual vs. Mutual of Omaha: Which has lower monthly rates?
Looking at affordable Liberty Mutual vs. Mutual of Omaha life insurance rates will help you find the most cost-effective option. The following chart allows customers to compare the average monthly rates of Liberty Mutual and Mutual of Omaha based on age for a 20-year term at $500,000.
Liberty Mutual vs. Mutual of Omaha: 20-Year Term $500,000 Policy Monthly Rates by Age
| Age | Liberty Mutual Average Monthly Rates | Mutual of Omaha Average Monthly Rates |
|---|---|---|
| 20 | $31.05 | $30.32 |
| 30 | $36.45 | $33.80 |
| 40 | $71.10 | $69.45 |
| 50 | $193.95 | $179.96 |
As you can see, Mutual of Omaha has slightly lower rates than Liberty Mutual, and rates are higher for older customers.
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Liberty Mutual vs. Mutual of Omaha: What types of policies are available?
Comparing Liberty Mutual vs. Mutual of Omaha life insurance company policies will help you determine which company best fits your needs. While both companies offer term life and whole life policies, Mutual of Omaha also provides universal life insurance.
Liberty Mutual has term life policies in 10-, 15-, 20-, and 30-year terms. The Passport Term plan is fully underwritten, meaning that it requires a medical exam. This plan is available for customers between the ages of 18 and 70, and the minimum death benefit is $15,000.
The Simplified Issue Passport Term plan requires no medical exam and has a maximum benefit of $250,000. This policy is accessible for customers from 18 to 65 years old and is best for those ineligible for the Passport Term plan due to medical issues.
Liberty Mutual offers two different whole life insurance plans, and only policies with a benefit over $250,000 require a medical exam. The simplified-issue plan has a maximum value of $250,000, and the single-payment policy has a higher death benefit.
Mutual of Omaha has term life insurance policies available in 10-, 15-, 20-, and 30-year terms. The minimum death benefit for this type of plan is $100,000, and it is available for customers from 18 to 80 years old.
The company also offers traditional and indexed universal life insurance. These policies feature flexible rates and a death benefit that ranges from $100,000 to $1 million. The primary difference between the two is that indexed universal life rates depend on popular stock indexes.
The whole life plan offered by Mutual of Omaha is for final expenses. Available to customers from 45 to 85 years old, the policy is designed for final costs, such as funerals and burials. The death benefit of this plan ranges from $2,000 to $25,000.
The Mutual of Omaha Medicare Supplement plan is a unique offering from this company. Customers can add it to their Medicare A and B plans to help make out-of-pocket payments that Medicare might require.
Liberty Mutual vs. Mutual of Omaha: What riders are available?
Liberty Mutual and Mutual of Omaha offer various options that customers can add to a policy. These options are known as riders, and they allow policyholders to create a customized plan. Adding these riders will increase your Liberty Mutual or Mutual of Omaha life insurance quotes.
Optional riders offered by Liberty Mutual include:
- Accidental death and dismemberment
- Child protection
- Disability waiver
- Guaranteed insurability
- Payor death and disability
Optional riders offered by Mutual of Omaha include:
- Accidental death benefit
- Dependent children’s coverage
- Partial return of a premium
- Level death benefit
- Residential damage
- Waiver of a premium for unemployment provision
- Common carrier death benefit provision
- Disability income
Mutual of Omaha offers more riders than Liberty Mutual, but both companies provide plenty of ways to customize your coverage.
Liberty Mutual vs. Mutual of Omaha: Which has the better financial ratings?
Credit rating agencies review and rate life insurance companies based on financial strength. These ratings determine the likelihood that the company will provide a payout when you file Mutual of Omaha or Liberty Mutual claims.
Liberty Mutual Insurance has been rated an A by A.M. Best and S&P and an A2 by Moody’s. These are solid ratings indicating that customers should have no issue receiving a payout when they file a claim.
Mutual of Omaha has been rated an A+ by A.M. Best and S&P and an A1 by Moody’s. These are excellent ratings, indicating superior financial strength and informing customers that they’ll definitely receive a payout when they file a claim.
Mutual of Omaha has received better ratings than Liberty Mutual by all three credit rating agencies, but both companies are financially strong.
Read more:
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Liberty Mutual vs. Mutual of Omaha: Have they received customer complaints?
Examining complaints about life insurance companies will help you determine the quality of service you’ll receive. The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review customer complaints about insurance companies.
At the time of this comparison, the BBB has received 1,064 complaints about Liberty Mutual during the past three years. The company has a complaint index ratio of 2.20 from the NAIC, indicating more than double the complaints of a similarly-sized company.
The BBB has received 127 complaints about Mutual of Omaha over the past three years. The NAIC lists Mutual of Omaha’s complaint index ratio at 1.20, indicating more complaints than competitors of a similar size.
The Liberty Mutual and Mutual of Omaha reviews show that Mutual of Omaha customers are more satisfied with their service than Liberty Mutual customers.
Liberty Mutual vs. Mutual of Omaha: How can you buy Liberty Mutual or Mutual of Omaha life insurance?
Liberty Mutual customers can receive quotes online. However, you must contact an agent to purchase a policy. Mutual of Omaha allows customers to receive quotes and purchase policies online, by phone, or through an agent.
Liberty Mutual vs. Mutual of Omaha: The Bottom Line
Mutual of Omaha has lower rates, more policy options, and better financial ratings than Liberty Mutual. However, Liberty Mutual has simplified issue plans, making its policies more accessible. Comparing Liberty Mutual vs. Mutual of Omaha will help you determine the right fit.
Now that you’ve compared Liberty Mutual vs. Mutual of Omaha, enter your ZIP code to find free life insurance rates in your area.
Your one-stop online guide for life insurance quotes. Get free quotes now!
Secured with SHA-256 Encryption
Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.