Is United of Omaha a good annuity company?
Yes, for buyers who want a well-known name behind a solidly rated contract. United of Omaha, the annuity and life subsidiary of Mutual of Omaha, holds an A+ (Superior) rating from AM Best, an A+ from S&P and an A1 from Moody's, placing it among a select group of carriers with strong marks across all three agencies. As part of a mutual company owned by policyholders rather than shareholders, it has run continuously since the early 1900s with a low minimum premium that makes it accessible to a wide range of buyers. Its MYGA rates are usually solid but not always the single highest on the board, so rate-focused shoppers should still compare it against the field.
United of Omaha at a glance
| Legal name | United of Omaha Life Insurance Company |
|---|---|
| Parent company | Mutual of Omaha Insurance Company |
| Headquarters | Omaha, Nebraska |
| Founded | Mutual of Omaha in 1909; United of Omaha incorporated in 1926 |
| Structure | Mutual company, owned by policyholders, no outside shareholders |
| AM Best rating | A+ (Superior) |
| S&P rating | A+ (Strong) |
| Moody's rating | A1 |
| What it sells | MYGA, SPIA, fixed index annuity, plus life and Medicare supplement products |
| States available | All 50 states |
| Typical minimum premium | $5,000 for most annuity products |
Where United of Omaha sits on the AM Best scale
A+ is grade 2 of 13. Most buyers look for A- or better for a long-term contract.
- A++
- A+United of Omaha
- A
- A-
- B++
- B+
- B
- B-
- C++
- C+
- C
- C-
- D
Today's rates for United of Omaha
Rates change often and vary by state, term and deposit size. Get today's numbers for your state, side by side with other top-rated carriers. Free, with no obligation.
Part of a household insurance name
United of Omaha is the life and annuity subsidiary of Mutual of Omaha, a name most Americans recognize from decades of advertising around Medicare supplement coverage. The parent traces back to 1909, and United of Omaha itself was incorporated in 1926 to carry the group's individual life and annuity business. Because the whole organization is structured as a mutual, it answers to policyholders rather than public shareholders, which has historically translated into conservative underwriting and steady capital management over a long stretch of economic cycles, including the 2008 downturn and the 2020 pandemic.
United of Omaha financial strength ratings
| Rating agency | Rating | What it means | Notes |
|---|---|---|---|
| AM Best | A+ | Superior | Second-highest tier AM Best assigns |
| S&P Global | A+ | Strong | Affirmed with an upgraded capital and earnings assessment, August 2026 |
| Moody's | A1 | ||
| Fitch | Not rated |
Holding an A+ from both AM Best and S&P, plus an A1 from Moody's, puts United of Omaha in strong company. As always, confirm the current rating directly at AM Best's site before you commit a deposit, since ratings can change.
What annuities does United of Omaha sell?
- Multi-year guaranteed annuities: a fixed rate locked in for a set term, typically 3 to 7 years, distributed through independent agents.
- Single premium immediate annuities: convert a lump sum into guaranteed monthly income that can start within about a month of funding, with historically competitive payout rates.
- Fixed index annuities: interest linked to a market index with a floor against loss, available with an optional guaranteed lifetime withdrawal benefit rider for buyers focused on future income.
Standard MYGA contracts allow up to 10% of the contract value to be withdrawn free of surrender charge each year after the first contract year, a common feature among competitive MYGA carriers. Rates change frequently, so use the MYGA rate table to see current numbers by term rather than relying on a fixed figure here.
Who is United of Omaha best for?
United of Omaha suits buyers who put brand recognition and financial strength ahead of chasing the single highest posted rate. Anyone who has watched Mutual of Omaha's Medicare supplement commercials for years and trusts the name may feel more comfortable placing a large deposit here than with a less familiar carrier, and that comfort is a legitimate factor in a retirement decision, not just a marketing effect.
It is also a solid choice for retirees who want a SPIA or an index annuity with a lifetime income rider, since United of Omaha's immediate annuity payouts are consistently competitive. The $5,000 minimum premium makes it workable for smaller IRA or 401(k) rollovers as well as larger ones, and the carrier is licensed in all 50 states.
Buyers whose only goal is the absolute highest MYGA rate in a given term should still check the full field. United of Omaha rarely tops the rate table, but it consistently lands in a strong, competitive range alongside its A+ rating.
Other annuity companies to consider
- Mutual of Omaha: the parent company, for a look at the group as a whole
- Athene: a rate-focused MYGA and FIA carrier for direct comparison
- Midland National: A+ rated, broad MYGA and index annuity lineup
Pros and cons
Pros
- A+ (Superior) from AM Best, A+ from S&P and A1 from Moody's at the same time
- Mutual structure means the company is run for policyholders, with no outside shareholders to satisfy
- Backed by the broader recognition and scale of the Mutual of Omaha brand
- Low $5,000 minimum premium opens the door to smaller deposits
- Over a century of continuous operation without an insolvency
Cons
- MYGA rates are usually competitive but not always the top of the market
- Fixed index annuity lineup is narrower than dedicated index annuity specialists
- Product menu leans toward a focused set of annuity types rather than the widest possible selection
Written and reviewed by
James Forren Warren
Licensed Retirement Income Strategist · License #20551202
James Forren Warren is a licensed Retirement Income Strategist with Tax Free Wealth Plan. For the past five years he has helped individuals and families turn their savings into retirement income they can count on. He writes and reviews the annuity research on this site and keeps it plain: what a product does, what it costs you, and who it actually fits.
Sources
Educational only, not investment, tax or legal advice. Tax Free Wealth Plan LLC is a licensed insurance agency, not a registered investment adviser or broker-dealer. Annuities are not bank deposits, are not FDIC insured and are not guaranteed by any government agency. Guarantees are backed solely by the claims-paying ability of the issuing insurance company. Features, rates and availability vary by state and change over time; the contract and disclosure documents govern.
