Page Reviewed / Updated – June 5, 2022

Best for Low Benefit Amount 

Mutual of Omaha is a Nebraska-based company that provides insurance coverage to individuals, businesses and families. It has been in business for more than a century and is known for providing high-level customer service. While the company is based in Nebraska, it offers coverage to all Americans within the specified age bracket. However, unique qualification restrictions apply to those living in New York or Washington. 

A significant benefit of this whole life burial insurance option is the range of coverage available. It’s uncommon to see coverage options as low as $2,000 for burial insurance. This small sum means lower payments, making the insurance policy more affordable for anyone planning for a small funeral or a cremation. 

Pros and Cons of Mutual of Omaha’s Burial Insurance


  • No medical exam or health questions required 
  • Flexible coverage range, starting at $2,000
  • Broad age range (compared to similar insurance options)
  • Builds cash value over time 
  • No policy expiration 


  • Different restrictions on the age range for residents of New York
  • Different coverage options for residents of Washington (coverage starts at $5,000)
  • 2-year waiting period for full payout to beneficiaries 

Overview of Mutual of Omaha’s Burial Insurance 

Mutual of Omaha’s Guaranteed Whole Life Burial Insurance offers an affordable option for seniors and older adults seeking life insurance coverage on a budget. The ultra-low coverage amounts are ideal for people who don’t anticipate expensive burial or funeral proceedings but still want to ensure their families are financially protected in the event of their death. 

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Guaranteed Whole Life Insurance 45-85 (in NY, 50-75) No Medical Exam — No Health Questions $2,000-$25,000 (in WA, $5,000-$25,000) 2 Years Never Expires

How Much Does Mutual of Omaha’s Burial Insurance Cost? 

The typical cost for Mutual of Omaha’s Burial Insurance varies depending on the level of coverage the applicant selects. Policies with $2,000 of coverage have lower monthly premiums than those with the maximum amount of $25,000 in coverage. Once the application is approved, the premium amount is locked in at a fixed rate, ensuring there are no unpredictable cost increases in the future.

However, the cost of premiums with Mutual of Omaha can increase or decrease over the course of the policyholder’s life if they make changes to their coverage amount or the frequency of their payments. 

Eligibility, Plan Details, & Other Information

Eligibility Requirements

To qualify for Mutual of Omaha’s Guaranteed Whole Life Burial Insurance, an individual must be between the ages of 45 and 85 (or 50 and 75 if they live in New York). This is a guaranteed coverage policy, which means that if the applicant meets the age requirements, there are no other qualifications or medical examinations to pass to have the application approved. 


The coverage Mutual of Omaha offers most Americans is $2,000 to $25,000 of life insurance, depending on their selection. Increments within this range are available to anyone living outside of Washington who meets the age requirements. While the coverage range applies to most Americans, residents of Washington are an exception, with available coverage starting at $5,000 rather than $,2000.

The coverage through this policy can be used for funeral expenses, burial, paying off debts or supporting the policyholder’s family after their death. The benefits associated with Mutual of Omaha’s Guaranteed Whole Life Burial Insurance are never reduced as the policyholder’s age increases or if there are changes to their health. 

The option of such a low coverage amount ($2,000) is useful for those looking to supplement existing life insurance coverage or who know specifically what costs they hope to cover after their death. It’s also a good option for people on a fixed income who don’t want to risk unforeseen premium increases.

Waiting Period

Mutual of Omaha’s Burial Insurance has a 2-year waiting policy, meaning if the policyholder passes away from natural causes within the first 2 years of the coverage, their beneficiaries receive the premiums paid plus an additional 10%. However, if the policyholder passes away during the 2-year waiting period because of an accident, this limitation on payout doesn’t apply. 

After 2 years, the beneficiaries receive the full coverage amount purchased regardless of the cause of death.

Cash Value

This whole life insurance policy from Mutual of Omaha offers the perk of building cash value over time. The cash value grows on a tax-deferred basis and offers a source of additional funds in the future for health emergencies or other situations where the policyholder needs a loan. They can borrow against their policy based on the cash value they’ve accumulated. 

Rates and Duration

The premiums for this guaranteed burial insurance policy are always at a fixed rate, so there are no unpredictable changes to the monthly payment at any point. The policy also has no expiration date, so it lasts for the remainder of the policyholder’s life, regardless of how long they live, as long as they remain current on premium payments.

Application Process 

To start the application process, applicants can use the Final Expense Calculator feature on Mutual of Omaha’s website to get an approximate idea of how much coverage they require. Once they complete this step, they can request a quote based on this amount. The quote specifies the benefit amount the applicant qualifies for as well as the associated monthly premium. 

Those who aren’t comfortable requesting a quote online can also call Mutual of Omaha directly at 866-519-0241. Representatives can advise callers on how best to complete and submit their application forms for approval. After the policy is approved, the agreed-upon rate is locked in. 

Who Should Consider Mutual of Omaha’s Burial Insurance? 

People With a Fixed Income on a Budget 

Americans aged 45 to 85 (50 to 75 in New York) who are on a fixed income and need a budget-friendly life insurance option can benefit from choosing Mutual of Omaha’s Guaranteed Whole Life Burial Insurance. The coverage can be as low as $2,000, offering an affordable monthly premium that pays for peace of mind knowing your limited burial or funeral expenses are taken care of. People on a tight budget will appreciate the fixed rate. 

People With Limited Burial/Funeral Expenses 

Seniors and older adults who are confident their burial or funeral expenses are limited can benefit from the small amount of coverage and associated low premiums Mutual of Omaha offers. Individuals who anticipate an intimate funeral service with few attendees or who are planning to be cremated rather than buried will appreciate a lower monthly payment for a small coverage amount. 

What Are People Saying About Mutual of Omaha’s Burial Insurance?

Consumer Affairs shows a 3.1/5 rating for Mutual of Omaha’s life insurance based on 72 customers reviews. One five-star reviewer in 2021 said they were very happy with the financial education efforts of the company and that their agent checks in with them at least twice annually. The person also noted they receive a free yearly review from a financial advisor. Another five-star reviewer, from 2020, who took out their life insurance policy with Mutual of Omaha over a decade ago, says they’re happy with the coverage they get for an affordable price. The person also mentions their satisfaction with the automatic payment system, so they never miss a payment. 

However, some reviewers noted difficulty getting their payout. One two-star reviewer from Wisconsin said in 2019 that she was a beneficiary for someone who passed and hadn’t received her payout 9 days after the death. 

Frequently Asked Questions

What Does Burial Insurance Cover? 

Burial insurance can pay for funeral expenses, burial costs and the policyholder’s unpaid debts, or it can help loved ones financially. 

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What Type of Insurance Covers Burials? 

Burial insurance or life insurance are the types of policies to look for when seeking coverage for burial services. 

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How Do You Buy Burial Insurance? 

Individuals can buy burial insurance by selecting an insurance company they want coverage from and visiting their website. Typically, the individual requests an online quote and then either mails in a completed application form or fills out and submits the form online. 

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Do Burial Insurance Policies Have a Cash Value? 

Some burial insurance policies have a cash value, meaning the policy builds equity that the policyholder can borrow against, like a loan, over time. 

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How Does Burial Insurance Work? 

The insurance company pays out the agreed-upon amount to the policyholder’s chosen beneficiaries after they pass away. 

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