Mutual of Omaha review

Fortune 500 mutual insurer with 115+ years of financial strength and trusted annuity products.

Carrier strength

A+

A.M. Best

Products15

Total assets$45+ Billion

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Founded

1909

Headquarters

Omaha, NE

Total assets

$45+ Billion

A.M. Best

A+

15 Mutual of Omaha annuities

Click any product for rates, specs, and the full peer-group review.

Product	Type	Surrender	Rating	Income rider	Bonus
Ultra Premier 7-Year Buyers with at least $25,000 who want a competitively priced, fully guaranteed 7-year rate and don't need the money back before the contract matures	MYGA	7yr	A+	—	—	Review →
Ultra Premier 5-Year Buyers with at least $25,000 in non-qualified or IRA savings who want a locked 5-year rate and can accept a steeper early surrender schedule in exchange for a higher guaranteed yield	MYGA	5yr	A+	—	—	Review →
Ultra Secure Plus 7-Year Buyers who want an easy, low-minimum entry into a 7-year fixed annuity with strong access to their money, rather than the single highest locked rate on the market	MYGA	7yr	A+	—	—	Review →
Ultra Secure Plus 5-Year Buyers with as little as $5,000 who want an easy-entry, five-year locked-rate MYGA with immediate liquidity access and strong principal protection, rather than the single highest posted rate in the category	MYGA	5yr	A+	—	—	Review →
Bonus Flexible Annuity Conservative savers who want a low minimum, no fees, and the ability to keep adding money over time, and who can commit to an 8-year surrender schedule	MYGA	8yr	A+	—	—	Review →
Ultra Advantage 10-Year Buyers who want a genuinely fee-free FIA with a deep crediting menu, including two uncapped strategies, and who don't need a built-in income rider	FIA	10yr	A+	—	—	Review →
Ultra Advantage 10-Year (Return of Premium) Buyers who want the Ultra Advantage crediting menu but are unwilling to accept the base product's 87.5% surrender-value floor	FIA	10yr	A+	—	—	Review →
Ultra Advantage 3-Year Buyers who want a short, 3-year FIA commitment with a competitive current cap, a choice of five crediting strategies, and no interest in paying for an income rider	FIA	3yr	A+	—	—	Review →
Ultra Advantage 3-Year (Return of Premium) Conservative FIA shoppers who want a contractual guarantee they can never get back less than their premium, even on early surrender, and are willing to accept modestly lower crediting rates for that certainty	FIA	3yr	A+	—	—	Review →
Ultra Advantage 4-Year Buyers who want a short 4-year FIA commitment, immediate free-withdrawal access, and a fee-free base contract without paying for a rider-based income guarantee they don't need	FIA	4yr	A+	—	—	Review →
Ultra Advantage 4-Year (Return of Premium) Buyers who want a short 4-year FIA with a guaranteed return of premium built in and can accept giving up some crediting potential for it	FIA	4yr	A+	—	—	Review →
Ultra Advantage 5-Year Buyers who want a fee-free, multi-strategy 5-year FIA with unusually generous free-withdrawal and waiver provisions and no interest in a rider-based income feature	FIA	5yr	A+	—	—	Review →
Ultra Advantage 5-Year (Return of Premium) Conservative savers who want a guarantee they'll get back at least every dollar of premium if they ever fully surrender the contract, and who are comfortable trading some upside for that certainty	FIA	5yr	A+	—	—	Review →
Ultra Advantage 7-Year Buyers who want a fee-free indexed annuity with a genuinely deep crediting menu, including two uncapped participation strategies, and don't need a built-in income rider	FIA	7yr	A+	—	—	Review →
Ultra Advantage 7-Year (Return of Premium) Buyers who want a guaranteed floor of 100% of premium on a full surrender and are willing to give up a consistent slice of crediting rate to get it	FIA	7yr	A+	—	—	Review →

About Mutual of Omaha

Mutual of Omaha is a Fortune 500 mutual insurance company with over 115 years of experience serving American families. Known for their exceptional financial strength and customer service, they offer a range of annuity products designed for safety-conscious investors. As a mutual company, they are owned by their policyholders, aligning their interests with their customers.

The tradeoffs

What works

Superior AM Best A+ rating
Over 115 years of financial stability
Mutual company structure (policyholder-owned)
Excellent customer service reputation
Competitive MYGA rates

What to watch

Fewer indexed annuity options than specialists
Income rider payouts slightly below top competitors
Limited online account management tools
Smaller annuity product portfolio

Best fit for these buyers

Safety-conscious investors prioritizing financial strength

Those who value a mutual company structure

Retirees seeking simple, guaranteed products

Ages 55-75 wanting principal protection

Frequently asked questions

Is Mutual of Omaha a good annuity company?

We have reviewed 15 Mutual of Omaha products, and A.M. Best rates the carrier A+ for financial strength. We describe its financial position as "Superior" with $45+ Billion in total assets.

What is the surrender period for Mutual of Omaha annuities?

Surrender periods on Mutual of Omaha's current lineup run 3–10 years, depending on the product. Most products allow an annual free-withdrawal amount before charges apply — the product table above shows each product's surrender length, and each review covers the exact schedule.

Sources & standards

How we know what's on this page

Rates, terms & availability: Annuity Rate Watch, which aggregates carriers' filed rate sheets. Refreshed every night.
Financial strength: A.M. Best. We publish the carrier's letter rating rather than a score of our own.
Contract detail: The carrier's own brochure — minimum guaranteed surrender value, death benefit, RMD treatment, annuitization options, waiver riders and free-withdrawal terms. Where the brochure and the rate feed disagree, the brochure wins: it is the filed document. Where neither carries a fact, the page omits it. We do not fill gaps with estimates.

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