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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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Fact checked

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.

GenderAge
Pacific Life
Mutual of Omaha
Male20
$15.66
$16.77
Male30
$15.91
$17.20
Male40
$21.48
$24.51
Male50
$47.24
$54.83
Male60
$123.29
$157.38
Get a quote on Policygenius
GenderAge
Pacific Life
Mutual of Omaha
Female20
$12.99
$14.62
Female30
$13.47
$14.84
Female40
$18.57
$19.78
Female50
$36.95
$44.08
Female60
$87.12
$113.31
Get a quote on Policygenius

*Based on sample rates from Policygenius, August 2019.

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.
Get a quote on Policygenius

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.
Get a quote on Policygenius

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. BestA+ (Superior)A+ (Superior)
Moody’sA1 (Good)A1 (Good)
Standard & Poor’sAA- (Very strong)AA- (Very strong)
FitchAA- (High quality)N/A
J.D. Power3 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

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Compare up to 4 providers

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