Cover - Mutual Of Omaha Final Expense Product Review [For Agents Only]

Mutual Of Omaha Final Expense Product Review [For Agents Only]

By David Duford - January 03, 2023 - 5 Mins Read

Are you a final expense agent interested in adding Mutual Of Omaha’s Living Promise final expense product to your final expense insurance companies line-up?

Do you want a “No BS” overview on Mutual Of Omaha’s final expense insurance product from a field-tested agent?

If so, you have found the right article!

I’ll be discussing at length how Mutual Of Omaha’s final expense product stacks up, why final expense agents should consider it, and give you my opinion on its pros and cons as a producing agent selling final expense.

NOTE: If you are a consumer looking for information on buying a Mutual Of Omaha final expense plan, you can learn more about the company and product here.

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Overview Of Mutual Of Omaha’s Living Promise Final Expense Product

Application Type: Paper or Electronic Application
Agent Support Hotline:  Sales Support: (800) 693-6083 (Monday-Friday 7:30 a.m. – 5:30 p.m. CST). Underwriting Support: 1-800-775-7896
Point Of Sale Interview Required? Optional (not required to submit application). Uses Apptical which can be reached at 855-464-9577 when ready to conduct a point of sale qualification interview.
State Availability: All states EXCEPT New York.
Paper Application Submission: E-app is submitted electronically. Fax paper application to 1-402-997-1800
Average Policy Issue Turnaround Time: 24-48 hours
Commission Payout: Either on issue or on first draft
Can You Sell Over The Phone? YES!
Advancing Available? Yes – 9 months advance for those that qualify.
How Far In Advance Can The First Draft Be? 35 days out from application date.
Frequency Of Commission Payout: Daily, Weekly
Pays Commission On Policy Fee? Yes
Age Rating: Age based on application date
Chargebacks On Death: Prorated – you keep earned commissions and payback any unearned commissions assuming it’s not rescinded
Chargebacks On Lapses: Prorated. Keep what you earn and payback any unearned commissions.
Underwriting Overview: MIB, Rx Check
Agent Guide: Download here
Requires E&O? No
Acceptable Payment Methods? Bank account drafts only
Face Amount Issue Limits For Level Plan (Offers 1st Day Full Coverage For Natural And Accidental Death):

    • Issue Ages: 45-85

    • Minimum issue amount: $2,000 ($5,000 in WA)

    • Maximum issue amount: $40,000

Face Amount Issue Limits For Graded Solution Product: (For death due to natural causes (any cause other than accidental) during the first two years, the beneficiary will receive all premiums paid plus 10%. After the two years, the full benefit is paid for death due to all causes. Full death benefits will be paid, in all years, if death results from an accidental bodily injury.)

    • Age Availability: 45-80

    • Minimum issue amount: $2,000

    • Maximum issue amount: $20,000

Available Riders:

    • Accidental Death Benefit Rider (Level Only): Provides an additional death benefit equivalent to the client’s coverage amount if death results from accident.

    • Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement Rider (Level Only): Read here for more information. Limitations and exclusions detailed in the overview above.

Cover Foreign Nationals? Must be a legal US resident and have a tax ID (ITIN) or Social Security number.
Height-Weight Chart? Download here
Sample Final Expense Application: Download here
Rate Guide: Download here (scroll down to find rate tables by age and face amount)
Prescription/Rx Guide: Download here
Underwriting Advantages:

    • Arguably the most well-known insurance carrier our senior prospects recognize (branding makes it easier to sell).

    • Very competitively-priced premiums help keep policies on the books better, and fends off agents attempting to replace you on price.

    • Diabetic-friendly: Takes a diabetes diagnosis using pills OR insulin use if started at age 50 or older as Level coverage.

    • Cancer: 4-year look back for Level coverage.

    • Cardiac Conditions: 2-year look back on most cardiac conditions, such as heart attacks, strokes, and stents for Level coverage.

    • Optional e-app eliminates frustrating go-backs to get missed pages signed, which increased issue rates and more time spent with more prospects.

    • Apptical point-of-sale interview determines insurability within 15 minutes of starting the phone call. Know your client’s underwriting decision BEFORE you leave the home.

    • Warfarin/Coumadin viewed as maintenance after 12 months of prescription and considered for Level coverage as long as non-CHF cardiac event exceeds 2 years.

    • Anastrazole, tamoxifen, and other cancer preventive medication viewed as maintenance, and considered for Level, as long as the client can answer no to the cancer diagnosis question.

Final Expense Application Health Questions


Below you’ll find a complete listing of each health question on the Living Promise application.

If you’d prefer to download a sample copy of the application, please download it here for your review.

Part One


1. Is the Proposed Insured currently:
(a) bedridden or confined to any hospital, nursing home, long-term care facility or skilled nursing facility; or receiving or been advised to receive care in a nursing home, hospice care, or home health care?
(b) requiring assistance with activities of daily living such as taking medications, bathing, dressing, eating, toileting, getting in and out of a chair or bed, or control of bowel or bladder problems?
(c) requiring any of the following (other than for fractures, bone or joint surgery, including replacement): wheelchair, electric scooter, or oxygen equipment to assist breathing (excluding use for sleep apnea)?
2. Has the Proposed Insured ever been:
(a) diagnosed as having Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC), or Human Immunodeficiency Virus (HIV) Infection (symptomatic or asymptomatic) or been treated for AIDS, ARC, or HIV by a physician or heath care provider?
(b) diagnosed with, been treated for or advised by a physician or health care provider to receive treatment for Alzheimer’s Disease, Dementia, Huntington’s Disease, Sickle Cell Anemia, Myelodysplastic Syndrome (MDS), Lou Gehrig’s Disease (ALS), Quadriplegia, Paraplegia, Down’s Syndrome, mental incapacity, congestive heart failure, Cirrhosis, Metastatic Cancer or recurrent Cancer of the same type?
(c) diagnosed with insulin shock, diabetic coma, or had an amputation due to diabetic complications or diagnosed with End Stage Renal Disease or requiring dialysis?
(d) advised to receive or have received an organ or bone marrow transplant?
(e) diagnosed by a physician or health care provider as having a terminal medical condition that is expected to result in death within the next twelve 12 months?
3. In the past 12 months, has the Proposed Insured been:
(a) advised by a physician to have a surgical operation, diagnostic testing other than for routine screening purposes or for those related to HIV/AIDS, treatment, hospitalization, or other procedure which has not been done or for which results are not known?
(b) diagnosed by a physician or health care provider as having heart disease or heart surgery of any kind?
4. In the past 2 years, has the Proposed Insured been diagnosed with, been treated for or advised by a physician or health care provider to receive treatment for any form of cancer (except basal or squamous cell skin cancer)?

Part Two


5. Has the Proposed Insured ever
(a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for:
(a) Diabetes before age 50 or diabetes at any age with complications of Retinopathy (eye), Nephropathy (kidney), Neuropathy (nerve) or Peripheral Vascular Disease (PVD or PAD)?
(b) Hepatitis C?
(c) Chronic Lung Disease, including Chronic Obstructive Pulmonary Disease (COPD), Chronic Bronchitis, Emphysema, or Sarcoidosis?
6. In the past 4 years, has the Proposed Insured: (a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for:
(a) Cancer, Leukemia, Melanoma or any other internal cancer (except basal or squamous cell skin cancer)?
(b) Chronic Kidney Disease, Systemic Lupus or Scleroderma?
(c) Bipolar Depression, Schizophrenia, Parkinson’s Disease or Multiple Sclerosis?
7. In the past 2 years, has the Proposed Insured: (a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for:
(a) Coronary Artery Disease, Heart Attack, Coronary Artery Bypass Surgery, Angioplasty, Cardiomyopathy, irregular heart rhythm, or Valvular Heart Disease with surgical repair or replacement?
(b) Stroke or Transient Ischemic Attack (TIA)
8. In the past 2 years, has the Proposed Insured:
(a) been convicted of or currently awaiting trial for a felony
(b) been treated for or advised to have treatment for alcohol or drug abuse or convicted more than once of reckless driving or driving under the influence of drugs or alcohol?
(c) used unlawful drugs in any form or abused or misused prescription drugs?
9. In the past 2 years, has the Proposed Insured been hospitalized by a physician or health care provider for any mental or nervous disorder?
10. In the past 12 months, has the Proposed Insured consulted a physician for chronic cough, unexplained weight loss greater than 10 pounds, fatigue or unexplained gastrointestinal bleeding?

If the Proposed Insured answers all above questions “No”, that person is eligible for the Level Benefit Product.

Premium Rates For Level Coverage

Here you’ll find the per-thousand rate calculation charts for males and females, for both the Level smoker/non-smoker rates, in addition to the Graded rates for ages 45-85.

My Thoughts On Using Mutual Of Omaha With My Final Expense Prospects


As a recruiter and coach to more than 1,000 final expense agents, finding quality carriers that are easy to use, competitively priced, and have flexible underwriting is extremely important.

As a new final expense agent, you need to focus your efforts on a core selection of carriers (usually no more than 3 to start), so picking the right carriers in the beginning is critical.

Mutual Of Omaha’s Living Promise product is many times one of those top 3 carriers I have new final expense agents begin learning.

Very few carriers come close to the combination of premium competitiveness, ease-of-use, and underwriting flexibility. Let’s cover all in detail below.

Premium competitiveness

If you do a rate comparison with other final expense carriers, you’ll find that the Living Promise product offers some of the lowest premiums available.

My experience is that premiums are typically 10%+ less than other companies! Nice.

This comes in handy when making sure any business that you write stays in force.

Whether we like it or not, our clients WILL have another final expense agent in the home within the next 6 months, and he will try his hardest to unseat you, typically by going after price first.

The good news is that competitively-priced premiums shut this down and greatly minimize the possibility of a replacement.

Ease Of Use

The Living Promise final expense application process offers a level of ease of use that is noticeably better than many carriers.

As a new agent, you want to write with carriers that shorter-length applications, electronic applications if possible, and offer either an instant approval on the electronic application, or an instant approval via a point-of-sale phone interview.

Mutual of Omaha final expense insurance offers most of the above.

Let’s detail it below.

    • Application Design/Length: The Living Promise application length is about average, meaning you won’t feel burdened with undue paperwork and additional pages to sign and date.

      As I teach new agents, more paperwork equals more potential for mistakes, amendments, and go-backs to clients. We want to minimize this as much as humanly possible, and having a shorter application length always helps.

    • E-App Availability: You have the option of completing the application with a traditional paper application, or an electronic application. My recommendation is to utilize the electronic application whenever possible.

      Why? Using an e-app eliminates every negative aspect with paper applications. E-apps automatically ensure all signatures, dates, and sections of the application are filled out, preventing frustrating go-backs to your clients.

    • Point Of Sale Interview Option: If you want to know whether or not your client is approved, you can utilize Living Promise’s optional point of sale interview. After submitting your e-app or finishing your paper application, you can phone into the interview line and have your client’s health screened to determine eligibility.

      This is HUGE for new agents, as it is easier to pivot to another product/carrier if you discover the client does not qualify, while you’re still on the first meeting, versus coming back at a future date.

Underwriting Flexibility

The more health conditions your core carrier can accept, the easier it is to send more business its way.

Mutual Of Omaha’s Living Promise product offers moderate underwriting flexbility compared to other carriers. Specifically, the following health conditions are considered for Level coverage:

    • Diabetic-friendly: Diabetics using pills *OR* insulin considered for Level coverage AS LONG AS diabetes diagnosed at age 50 or older. Diabetic neuropathy is ONLY considered for Graded coverage.

    • Cancer Preventative Medications: If your client takes a cancer preventative medication like anastrazole or tamoxifen, it is considered for Level coverage as long as the cancer removal/remission occurred 4 years ago or longer.

    • Heart And Cardiac Event History: You get a 2-year look back for Level coverage on many heart history events like stents, open heart surgery, heart attacks, and strokes.



Like all carriers, Mutual Of Omaha’s final expense insurance product is NOT the perfect carrier for all circumstances.

As an independent agent, it is paramount to know when and when NOT to use certain carriers depending on the situation.

Tighter Underwriting

In short, the Living Promise product is best suited for your healthiest prospects, as underwriting for certain conditions is very restrictive.

For example, your client will NOT be accepted for Level coverage with Mutual Of Omaha’s Living Promise product (but WILL be accepted for Level coverage with other carriers) for the following health conditions:

    • Cancer remission/removal within 2 to 4 years ago

    • Mental health disorders like bi-polar and schizophrenia

    • Hospitalization for any mental health disorders

    • Lung disease like COPD, emphysema

    • Cardiac events within the past 1 to 2 years.

    • Lupus

    • Hepatitis C (treated and cured)

Despite some of the health limitations the Living Promise product imposes, this is quite OK with me.

Mutual Of Omaha final expense insurance offers very low premium rates relative to other carriers, and it’s typical for carriers to tighten up on underwriting in exchange for lower rates.

In a way, we agents wish we could get the best of both worlds, but that is usually a bad risk for the insurance company.


My recommendation is to think of Mutual Of Omaha’s Living Promise product as your go-to carrier for your health final expense prospects.

Mutual Of Omaha final expense insurance offers strong brand name-recognition among our prospects, great rates for those who qualify for Level coverage, and a simple-to-use application and approval process to help streamline your sales presentations to get more deals closed.

Want To Sell Mutual of Omaha’s Final Expense Insurance Product?

Click here to learn more about joining David Duford's national agency.

To learn more about contracting, reach out here.

We have access to all sorts of benefits for final expense agents, including:

    • Top contracts for new and experienced agents. David Duford recruits and operates at FMO/IMO levels, giving him buying power to offer commission levels to agents and agencies others cannot match.

    • Affordably-priced, high-quality final expense lead programs for direct mail, Facebook, and telemarketing leads. David does not profit from the sale of leads, only referring you to sources with a track record of success.

    • An endless supply of top-notch prospecting and sales training at your fingertips.

    • Weekly sales training calls with David, ride-along training opportunities with David and his team, and direct phone/text access to David when you have case placement and sales questions (yes, David answers his own phone =).

    • Additional training and support for agents interested in cross-selling Medicare Advantage, annuities, or growing their own insurance agency.

Reach out to David by starting here. Talk soon!

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