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Mutual of Omaha Burial Insurance: What It Offers Seniors and What to Check

Mutual of Omaha burial insurance for seniors: Guaranteed Whole Life (ages 45-85, no health questions) and Living Promise. What it says and what to check.

Reviewed by Brian Carrozzi

Founder, RestAssured · Licensed life insurance agent

Updated October 29, 2026 · How we write and review

Key takeaways

Mutual of Omaha’s Guaranteed Whole Life offers “Guaranteed acceptance for ages 45-85 (in NY, 50 -75)” with “No medical exams or health questions to answer,” and “Benefit amounts offered vary between $2,000 to $25,000.”
Guaranteed Whole Life has a two-year graded death benefit: if death is from natural causes in the first two years, Mutual of Omaha says “your beneficiaries will receive all premiums paid, plus 10%.” Accidental death is paid in full from the start.
Mutual of Omaha’s Living Promise whole life uses “a few simple health questions”: a Level Benefit Plan for ages 45-85 ($2,000 to $50,000) and a Graded Benefit Plan for ages 45-80 ($2,000 to $20,000).
Mutual of Omaha says its whole life insurance is “Underwritten by United of Omaha Life Insurance Company”; in New York, “Companion Life Insurance Company, Melville, NY 11747 underwrites life insurance and annuities.”

Short answer: For Mutual of Omaha burial insurance, Mutual of Omaha’s whole life page says whole life coverage may be right if you “Need coverage for burial, funeral, or other final expenses …” Its pages describe Guaranteed Whole Life, with “Guaranteed acceptance for ages 45-85 (in NY, 50 -75)” and no health questions but a two-year graded death benefit, and Living Promise Whole Life, which uses “a few simple health questions.” Mutual of Omaha says the coverage is “Underwritten by United of Omaha Life Insurance Company.”

What does Mutual of Omaha offer seniors for final expenses?

Mutual of Omaha’s whole life page says, “Whole life is available for people aged 45-85 (in NY, ages 50-75) only,” and lists “Benefit amounts: $2,000 – $25,000” “(in WA, $5,000 - $25,000).” The same page’s disclosures include policy forms for Guaranteed Whole Life and “Living Promise Whole Life Insurance,” which has a Level Benefit Policy and a Graded Benefit Policy.

Mutual of Omaha also says, “This life insurance does not specifically cover funeral goods or services and may not cover the entire cost of your funeral,” and “Your beneficiary may use the proceeds for any purpose, unless otherwise directed.”

If you’re new to this kind of coverage, start with what final expense insurance is.

Who underwrites Mutual of Omaha whole life?

Mutual of Omaha’s whole life page says: “Whole Life Insurance Underwritten by United of Omaha Life Insurance Company.” Its Living Promise brochure gives the address as “3300 Mutual of Omaha Plaza, Omaha, NE 68175.”

New York is handled differently. Mutual of Omaha says, “United of Omaha is licensed nationwide except in New York and does not solicit business in New York,” and “In New York, Companion Life Insurance Company, Melville, NY 11747 underwrites life insurance and annuities.”

Mutual of Omaha final expense plans at a glance

	Guaranteed Whole Life	Living Promise Level Benefit	Living Promise Graded Benefit
Issue ages	“Guaranteed acceptance for ages 45-85 (in NY, 50 -75)”	“For ages 45-85”	“For ages 45-80”
Coverage	“Benefit amounts offered vary between $2,000 to $25,000”	“Face amounts from $2,000 to $50,000 (in WA, $5,000 to $50,000)”	“Face amounts from $2,000 to $20,000 (in WA, $5000 – $20,000)”
Health questions	“No medical exams or health questions to answer”	“Your coverage is based on your answers to a few simple health questions.”	“Your coverage is based on your answers to a few simple health questions.”
First two years, natural causes	“your beneficiaries will receive all premiums paid, plus 10%”	Not stated in the brochure	“the beneficiary will receive all premiums plus 10 percent”
Accidental death	“full benefits are paid from the first day our policy is issued”	Optional Accidental Death Benefit Rider (“additional premium required”)	“Full death benefits will be paid, in all years, if death results from an accidental bodily injury.”
Premiums	“your whole life insurance premium won’t increase as you age”	“Premiums never increase”	“Premiums never increase”
Policy form	“ICC18L198P or state equivalent”	“ICC12L080P or state equivalent”	“ICC12L081P or state equivalent”
State notes	NY ages 50-75	“United of Omaha Life Insurance Company does not conduct business in New York.”	“Not available in AR, MT, NC.”

Sources: Mutual of Omaha’s whole life page, Guaranteed Whole Life article and rate chart, and Living Promise client brochure and highlight sheet. Mutual of Omaha says, “Product base plans, provisions, features and riders may not be available in all states and may vary by state.”

How does Guaranteed Whole Life work?

For Guaranteed Whole Life, Mutual of Omaha says “no health exam or questionnaire is required to be accepted,” and “Each insured may own up to a combined maximum of $25,000 of this type of coverage.”

The trade-off is the first two years. Mutual of Omaha says, “During the first two years, if you die from natural causes (any cause other than accidental),” then “your beneficiaries will receive all premiums paid, plus 10%.” It adds, “After two years, the full benefit is paid for death due to all causes.” For death from an accident, it says “full benefits are paid from the first day our policy is issued.”

How does Living Promise work?

Living Promise asks health questions instead of a medical exam. The brochure says, “There are no medical exams. Your coverage is based on your answers to a few simple health questions.”

It comes in two plans. The Level Benefit Plan is “For ages 45-85” with “Face amounts from $2,000 to $50,000.” The Graded Benefit Plan is “For ages 45-80” with “Face amounts from $2,000 to $20,000.” For the graded plan, if death from natural causes happens in the first two years, “the beneficiary will receive all premiums plus 10 percent,” and “After the two years, the full benefit is paid for death due to all causes.”

The highlight sheet also says Living Promise “Builds cash value that you may borrow against” and “Cannot be canceled for any reason as long as premiums are paid.” It lists optional riders, including an “Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement” and an “Optional Accidental Death Benefit Rider” (“additional premium required”).

The Living Promise brochure and highlight sheet are hosted on Mutual of Omaha’s producer site, so confirm with the agent that they match the current version in your state.

How does this compare with other final expense options?

The New York Department of Financial Services (DFS) describes “Senior Life Plans” (graded death benefit plans) as policies that “provide only for a return of premium or minimum graded benefits if death occurs” “during a specified period which is generally the first two or three policy years.” DFS adds, “These policies are usually more expensive than a fully underwritten policy if the person qualifies as a standard risk.”

Mutual of Omaha’s own pages describe these designs: Guaranteed Whole Life skips health questions but has a two-year graded death benefit, while the Living Promise Level Benefit Plan uses health questions, and the brochure describes the two-year rule only for the Graded Benefit Plan. Ask the agent which you’d qualify for. For more on full-benefit-from-day-one policies, see burial insurance with no waiting period, and for budgeting, see how much final expense insurance costs.

What to check before you buy

Which plan you qualify for. Ask whether you’d be offered Guaranteed Whole Life, Living Promise Level, or Living Promise Graded, and why.
The first two years. Ask exactly what would be paid for a natural-causes death in each of the first two years.
Your coverage range in your state. Mutual of Omaha lists different minimums in Washington and different ages in New York.
State availability. The Graded Benefit Plan is “Not available in AR, MT, NC.” Ask what’s sold where you live.
Riders and their cost. Ask which riders are included and which require an additional premium.
Cash value. TDI says whole life has “Usually little to no cash value in the first few years.” Ask how a loan would affect the death benefit.
The application. The NAIC says, “It’s important to tell the truth on the application.” TDI says life insurance policies have a two-year contestable period, and if the company learns “you gave wrong information or didn’t disclose something, it can deny payment.”
The free-look period. The NAIC says that if you’re not satisfied, you can return a new policy for a “full refund within a certain period, usually 10 days after you receive it,” and TDI says “Texas policies have a free-look period of at least 10 to 20 days.”
Affordability. The NAIC says, “Before you buy a life insurance policy, be sure you can pay the premiums.”
A comparison. TDI says, “Don’t choose a policy on price alone.” The NAIC says, “Don’t cancel your current policy until you get the new one.”

The bottom line

Mutual of Omaha’s final expense whole life coverage, underwritten by United of Omaha Life Insurance Company (Companion Life Insurance Company in New York), comes in two forms on its pages: Guaranteed Whole Life, with no health questions and a two-year graded death benefit, and Living Promise, with a few health questions and Level or Graded Benefit plans. Check the ages, coverage range, and first-two-years benefit that apply in your state.

A licensed agent can go over these options and compare them with other final expense policies, with no obligation. Here’s how calling RestAssured works.

RestAssured is not an insurance company or an insurance agency; we connect callers with independently licensed insurance agents. RestAssured is not affiliated with or endorsed by Mutual of Omaha. The licensed agents who work with us are appointed to offer Mutual of Omaha policies and may earn a commission if you buy one. To buy directly from Mutual of Omaha, contact Mutual of Omaha. Product names are trademarks of their owners.

Frequently asked questions

Does Mutual of Omaha offer burial insurance?

Mutual of Omaha offers whole life insurance that can be used for final expenses, including Guaranteed Whole Life and Living Promise Whole Life. Its pages note the coverage “does not specifically cover funeral goods or services and may not cover the entire cost of your funeral.”

What life insurance does Mutual of Omaha offer seniors?

For final expenses, Mutual of Omaha’s materials describe Guaranteed Whole Life, with guaranteed acceptance for ages 45-85 (50-75 in New York), and Living Promise Whole Life, with Level and Graded Benefit plans based on a few health questions. Ask which plans are offered in your state.

Does Mutual of Omaha Guaranteed Whole Life have a waiting period?

Yes, a two-year graded death benefit. Mutual of Omaha says that if death is from natural causes during the first two years, beneficiaries receive all premiums paid plus 10%, and after two years the full benefit is paid for death due to all causes.

How much coverage does Mutual of Omaha whole life offer?

Mutual of Omaha says Guaranteed Whole Life benefit amounts are $2,000 to $25,000. Its Living Promise brochure lists $2,000 to $50,000 for the Level Benefit Plan and $2,000 to $20,000 for the Graded Benefit Plan, with higher minimums in Washington.

How do I compare Mutual of Omaha life insurance policies for a senior?

Compare the issue ages, coverage range, whether there are health questions, and what is paid in the first two years. Mutual of Omaha’s Guaranteed Whole Life has no health questions but a two-year graded death benefit, while its Living Promise Level Benefit Plan uses health questions.

Sources

This article is for general education. Policy features, prices and eligibility vary by insurance company and state; your agent will explain the specific terms of any policy before you apply.