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Pacific Life vs. Mutual of Omaha life insurance

These two insurers are on par in terms of price points and financial strength, but they have a few key differences.

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With strong financial ratings and reputations for customer service on their side, Pacific Life and Mutual of Omaha are both solid choices. However, they differ when it comes to product lineups and available riders.

Life insurance products with Pacific Life and Mutual of Omaha

Pacific Life
Mutual of Omaha
Term
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Whole
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Universal
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Variable
Variable universal
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Indexed universal
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Final expense

Costs

Rates are individualized, and will depend on your age, gender, occupation and lifestyle. Pacific Life and Mutual of Omaha both have reasonable rates compared to the rest of the market, though Pacific Life’s are slightly cheaper across the board.

If you’re a healthy nonsmoker, here’s what you might pay monthly for a $250,000, 20-year term life policy.

Gender Age
Pacific Life
Mutual of Omaha
Male 20
$15.66
$16.77
Male 30
$15.91
$17.20
Male 40
$21.48
$24.51
Male 50
$47.24
$54.83
Male 60
$123.29
$157.38
Gender Age
Pacific Life
Mutual of Omaha
Female 20
$12.99
$14.62
Female 30
$13.47
$14.84
Female 40
$18.57
$19.78
Female 50
$36.95
$44.08
Female 60
$87.12
$113.31

*Based on sample rates from Policygenius, August 2019.

Compare life insurance rates

Compare quotes for life insurance policies starting at $15/month.

Policy riders

Like most insurers, Pacific Life and Mutual of Omaha offer a range of riders to enhance your coverage — though Mutual of Omaha’s list is more comprehensive. Depending on your policy, you might have access to these riders.

Pacific Life Riders

  • Waiver of premium rider.
  • Accelerated death benefit rider.
  • Conversion rider.
  • Child rider.
  • Long-term care rider.
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Mutual of Omaha Riders

  • Waiver of premium rider.
  • Accidental death benefit rider.
  • Child rider.
  • Other insured extension rider.
  • Long-term care rider.
  • Disability and unemployment waiver of premium rider.

Financial strength

An insurer’s financial strength rating reflects its ability to pay claims. Pacific Life and Mutual of Omaha score top ratings with the major ratings agencies, which means they have the money to meet financial obligations.

Both insurers shine when it comes to J.D.’s latest customer satisfaction study. Mutual of Omaha ranked fifth of 23 insurers surveyed, while Pacific Life wasn’t far behind in ninth place.

Pacific Life
Mutual of Omaha
A.M. Best A+ (Superior) A+ (Superior)
Moody’s A1 (Good) A1 (Good)
Standard & Poor’s AA- (Very strong) AA- (Very strong)
Fitch AA- (High quality) N/A
J.D. Power 3 out of 5 circles or “about average” 4 out of 5 circles or “better than most”

Customer reviews and reputation

Pacific Life has an A- rating with the Better Business Bureau (BBB), but earns 1 out of 5 stars with customers. That being said, BBB only records two complaints in the past three years, which is low given the size of the company.

Mutual of Omaha has an A+ rating, the highest possible rating with the BBB. Customers award the company 1.5 out of 5 stars. They’ve filed 115 complaints over the last three years, and all of them were promptly resolved by the insurer.

Bottom line

With just term, whole and universal life insurance on its lineup, Mutual of Omaha’s products are limited compared to Pacific Life. But it has a longer list of riders you can use to customize your coverage.

To learn how other insurers stack up, compare life insurance companies.

Compare life insurance companies

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Prudential
18 - 75 years old
$100,000
$10,000,000
10, 15, 20, 30 years
Yes
Customize your term life insurance with a long list of life and disability riders. Get a free quote on Policygenius.
Transamerica
18 - 75 years old
$25,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase a policy worth anywhere from $25,000 to $10 million, with the option to skip the medical exam. Get a free quote on Policygenius.
MassMutual
18 - 80 years old
$2,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase term life insurance up to age 80 with Finder's #1 ranked company. Get a free quote from this A+ rated insurer on Policygenius.
AIG
AIG
20 - 85 years old
$5,000
$2,000,000
10, 15, 20, 25, 30, 35 years
Yes
Buy term life insurance all the way up to age 85, and choose a policy that lasts up to an incredible 35 years. Get a free quote on Policygenius.
John Hancock
18 - 65 years old
$25,000
$1,000,000
10, 15, 20 years
Depends on policy
Score a low rate on term life insurance with discounts and rewards for your healthy habits. Get a free quote on Policygenius.
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