Accordia Life vs. Mutual of Omaha: Top Life Insurance in 2021

Comparing life insurance companies can be both a long and difficult process. In an effort to simplify the aforementioned process for you, we are going to be focusing exclusively on whether to buy Accordia Life vs. Mutual of Omaha life insurance today.

Should you wish to learn more about what major life insurance companies like Accordia Life and Mutual of Omaha have to offer their insured, read our article Best No Medical Exam Life Insurance Companies.

In the meanwhile, before we dive into the details of our comparison of Accordia Life vs. Mutual of Omaha life insurance companies, type your ZIP code into our free and helpful tool above to find affordable life insurance quotes in your area.

Accordia Life vs. Mutual of Omaha Life Insurance Rates: Which company offers more affordable options to men?

When you set out on your life insurance company comparison adventure, you probably want to start with what is most important to you. Well, for most people, that would be pricing.

We are now going to go ahead and take a look at a table that shows the rates (for various forms of coverage, not every life insurance company offers the exact same coverage forms) offered to men of several different age ranges. Furthermore, this table doesn’t only show the rates to buy Accordia Life vs. Mutual Omaha life insurance, but for all of the major life insurers, as well.

As you can see, for men in their 30’s, Mutual of Omaha is over three dollars cheaper per month than Accordia Life. For men in their 40’s, that disparity increases to almost exactly four dollars per month. Still, Mutual of Omaha is cheaper for this category.

Comparing affordable Accordia Life vs. Mutual of Omaha life insurance rates, Mutual of Omaha is cheaper.

For men in their 50’s, the disparity between the rates for these two companies jumps as Accordia Life is about 22 dollars more expensive than Mutual of Omaha per month.

Finally, for men in their 60’s, Accordia Life is over a whopping 48 dollars more expensive per month than Mutual of Omaha.

It’s safe to say that, in terms of rates for men, Mutual of Omaha is the winner. Before we move on to see if this holds true in terms of rates offered to women, be sure to read our Mutual of Omaha Life Insurance Review of 2021. You may even learn about discounts, which can be as simple as typing in your Mutual of Omaha login.

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Accordia Life vs. Mutual of Omaha Life Insurance Rates: Which company offers more affordable options to women?

We are now going to do the same thing we did in the last section, but this time it will be rates offered to women of various ages.

For women in their 30’s, Accordia Life vs. Mutual of Omaha life insurance quotes cost almost four dollars more expensive per month. For women in their 40’s, Accordia Life is over four dollars more expensive per month than Mutual of Omaha.

For women in their 50’s, the disparity jumps quite a bit. For this category, Mutual of Omaha is almost 13 dollars cheaper per month than Accordia Life. For women in their 60’s, that number more than doubles, as Mutual of Omaha is over 32 dollars cheaper per month than Accordia Life.

So, thus far it’s two-for-two in Mutual of Omaha’s favor. Let’s wrap up with company ratings to determine if Mutual of Omaha can sweep the categories.

Accordia Life vs. Mutual of Omaha: Which company is more well-reviewed?

Before we part ways for the remainder of the day, we now stress the importance of company ratings from organizations such as A.M. Best and the Better Business Bureau. A high rating from one, or even both, of these two aforementioned rating organizations can give a potentially insured individual confidence that a particular life insurance company has and will continue to have financial strength.

The Better Business Bureau’s rating scale extends from the high end of “A+” down to the low end of “F”. As far as Accordia Life is concerned, it’s pretty good news. They received the Better Business Bureau’s second-highest possible rating of “A”. With that being said, as of this time, they do not hold BBB accreditation.

How did Mutual of Omaha do with the Better Business Bureau? Not only has Mutual of Omaha been BBB accredited since 1940, they have the highest possible rating of “A+”.

A.M. Best’s Financial Strength Rating (FSR) scale is slightly different in that it ranges from “A++” down to “D”. Not to mention, they actually have two different scales.

Accordia Life received an FSR of “A-” from A.M. Best. What score did Mutual of Omaha earn? Mutual of Omaha did better and earned the second-highest rating of “A+”.

A.M. Best also has what is called Long-Term Issuer Credit Ratings (Long-Term ICR). Whereas their Financial Strength Ratings are about an insurer’s financial strength as well as its ability to meet ongoing policy and contractual obligations, a Long-Term ICR is focused on the future. A Long-Term ICR can be issued on a long-term basis or short-term basis.

This scale goes from the high end of “aaa” (Exceptional) down to the low end of “c”. It’s a little confusing, so the scale goes like this: “aaa”, “aa”, “a”, “bbb”, “bb”, “b”, “ccc”, “cc”, “c”. A company can also score notches in their ratings, i.e. “aa+”.

Accordia Life scored an A.M. Best Long-Term Issuer Credit Rating of “a”. What Long-Term ICR did Mutual of Omaha receive? They received a score one notch higher than Accordia Life’s, which would be an “aa-“.

All in all, you have two terrific options here, but Mutual of Omaha stands above Accordia Life. Don’t let your life insurance company comparison stop here, though. Type your ZIP code into our free and helpful tool below to find affordable life insurance quotes in your area.