In short
- New York Life carries an AM Best A++ rating, the highest AM Best gives, according to its own website.
- Mutual of Omaha, WoodmenLife, Physicians Mutual and Gerber Life are rated A+, the second highest of 13 AM Best ratings.
- Ameritas and Assurity are headquartered in Lincoln; Mutual of Omaha, WoodmenLife and Physicians Mutual are in Omaha.
- Some no-exam whole life policies accept applicants up to age 85, with coverage up to $20,000 or $25,000.
- Price depends on your age, health and tobacco use, so compare quotes, not just ratings.
The ranking
How we ranked them. We ranked life insurers that sell to Nebraskans by AM Best financial strength rating, counting only ratings published on each company's own website as of October 2026. Ties go to companies headquartered in Nebraska, then to companies that publish issue ages and coverage amounts for older buyers. Product details come from each company's website. We did not compare prices, because they depend on your age and health. No company paid to be listed.
1. New York Life
Best for: The highest financial strength rating, for larger or legacy policies
- Rated A++ by A.M. Best, plus Fitch AAA, Moody's Aa1 and S&P AA+, per New York Life (ratings reports as of August 1, 2025)
- Sells term, whole and universal life insurance, plus long-term care insurance
2. Mutual of Omaha
Best for: No-exam whole life up to age 85 from an Omaha company
- AM Best A+ (Stable), per Mutual of Omaha
- Guaranteed Whole Life: issue ages 45 to 85, $2,000 to $25,000 of coverage, no medical exam, per Mutual of Omaha
- Also sells other life policies, Medicare Supplement, long-term care and dental coverage; headquartered in Omaha
3. WoodmenLife
Best for: Final expense coverage from a Nebraska fraternal company
- AM Best A+ (Superior), effective February 20, 2026, per WoodmenLife
- Final expense life insurance for issue ages 50 to 85, up to $20,000, no medical exam, per WoodmenLife
- A fraternal benefit society headquartered in Omaha; also offers Medicare Supplement plans and annuities
4. Physicians Mutual
Best for: Life insurance alongside dental and Medigap from one Omaha company
- AM Best A+ (Superior), October 2025, per Physicians Mutual
- Founded in 1902; headquartered at 2600 Dodge Street, Omaha
- Sells life insurance through Physicians Life, plus dental and Medicare Supplement coverage
5. Gerber Life
Best for: Guaranteed acceptance for ages 50 to 80
- Gerber Life Insurance Co. rated A+ (Superior) by AM Best, per Gerber Life; part of Western & Southern Financial Group
- Guaranteed Life Insurance: ages 50 through 80, $5,000 to $25,000, guaranteed acceptance regardless of health, per Gerber Life
- Whole Life Insurance: ages 18 through 80, $50,000 to $1,000,000 (up to $500,000 at age 56 and older)
6. Ameritas
Best for: A Lincoln-based company with life, dental and hearing coverage
- AM Best A (Excellent), held for 50 years, as of June 25, 2026; S&P A+ (April 8, 2026), per Ameritas
- Headquartered in Lincoln
- Sells life insurance and annuities, plus dental, vision and hearing plans for individuals
7. Assurity
Best for: Whole life you can finish paying by 65, from a Lincoln mutual
- AM Best A- (Excellent), per Assurity
- A mutual company and Certified B Corporation headquartered in Lincoln, with roots back to 1890
- Sells term and whole life; whole life premiums can be paid for life, or finished in 10 or 20 years or by age 65
Life insurance after 60 is usually about one of three things: covering final expenses, protecting a spouse's income, or leaving money to family. Nebraska has an unusual number of strong life insurers based right here, in Omaha and Lincoln, alongside national names. This list ranks them on financial strength you can verify, and pulls issue ages straight from their websites.
How did we rank life insurance companies for seniors?
We ranked companies by their AM Best financial strength rating, and we only counted ratings that each company publishes on its own website. AM Best grades an insurer's ability to pay claims over the long run. For a policy you might hold for 20 or 30 years, that's the first thing to check. No company paid to be listed, and being listed is not an endorsement.
When two companies had the same rating, the one headquartered in Nebraska ranked higher, then the one that publishes clear issue ages and coverage amounts for older buyers. We did not compare prices. Life insurance prices depend on your age, health, tobacco use and the amount you buy, so a price from someone else's quote tells you little about yours.
Here's how the AM Best scale works for the companies on this list:
| AM Best rating | Where it ranks | Companies on this list |
|---|---|---|
| A++ (Superior) | Highest of 13 | New York Life |
| A+ (Superior) | 2nd of 13 | Mutual of Omaha, WoodmenLife, Physicians Mutual, Gerber Life |
| A (Excellent) | 3rd of 13 | Ameritas |
| A- (Excellent) | 4th of 13 | Assurity |
Ratings as published on each company's website; dates are on each card above.
What kind of life insurance makes sense after 60?
The right type depends on what the money needs to do and for how long. Here's the short version; our page on term vs whole life insurance goes deeper.
| Type | How it works | Who it tends to fit |
|---|---|---|
| Term life | Covers a set period, like 10 or 20 years | People still paying a mortgage or replacing a spouse's income |
| Whole life | Lasts for life and builds cash value | People who want a set amount for heirs or final costs |
| Final expense | Small whole life policy, often with simple health questions | People who want funeral and final bills covered |
| Guaranteed acceptance | No health questions, smaller amounts | People who can't qualify elsewhere |
Final expense and guaranteed policies are a world of their own, with waiting periods and lower limits. We rank those companies separately on our list of final expense insurance companies.
What issue ages and coverage amounts do these companies list?
Several companies publish their age limits, which saves you a phone call. Here's what their websites showed in October 2026:
| Company and policy | Issue ages | Coverage | Exam |
|---|---|---|---|
| Mutual of Omaha, Guaranteed Whole Life | 45 to 85 | $2,000 to $25,000 | No medical exam |
| WoodmenLife, Final Expense | 50 to 85 | Up to $20,000 | No medical exam; health questions |
| Gerber Life, Guaranteed Life | 50 through 80 | $5,000 to $25,000 | No exam; acceptance guaranteed regardless of health |
| Gerber Life, Whole Life | 18 through 80 | $50,000 to $1,000,000 | Priced on health; an exam may be needed over $100,000 at 56 and older |
Sources: each company's website, October 2026. Gerber's maximum is $500,000 for applicants 56 and older, and its Guaranteed Life policy is not sold in Montana.
Larger policies, the kind used for legacy planning, usually require full underwriting. That means health questions, medical records and sometimes an exam. If you're healthy, full underwriting usually buys you more coverage for the money than a no-exam policy.
What does this ranking not tell you?
A rating tells you the company is likely to be around to pay the claim. It doesn't tell you whether a given policy is the right size, the right type or a fair price for you.
Questions to ask before you buy:
- Is the death benefit level from day one? Some simplified and guaranteed policies pay a reduced benefit in the first years. WoodmenLife's graded final expense plan, for example, pays the full benefit after the first two policy years.
- Can the premium go up? Many whole life premiums stay level. Many term premiums jump at renewal.
- When do you stop paying? Assurity, for example, lets you finish paying for whole life in 10 or 20 years or by age 65.
- What riders come with it? WoodmenLife includes an accelerated death benefit rider on its final expense plan.
- How does it fit with what you already have? Old employer coverage often ends or shrinks at retirement.
Our life insurance for retirees page walks through how much coverage to consider, and the life and final expense FAQ answers common questions.
How do you compare quotes from different companies?
Compare the same policy type, the same coverage amount and the same payment period, or the numbers won't mean much. A $10,000 final expense policy and a $100,000 whole life policy aren't the same product, even from the same company.
- Line up the basics. Same death benefit, same type, same premium schedule.
- Check the waiting period. A lower price with a two-year graded benefit isn't a like-for-like quote.
- Ask about health questions. If you can answer "no" to a simplified issue application, you may not need a guaranteed acceptance policy.
- Look at the rating again. A few dollars a month is worth less than a company that will be there in 25 years.
If you're weighing a smaller whole life policy against a term policy, see final expense vs term life.
Why are so many life insurers based in Nebraska?
Omaha and Lincoln are home to several long-established insurers, and five of the seven companies on this list are among them. Mutual of Omaha, WoodmenLife and Physicians Mutual are in Omaha. Ameritas and Assurity are in Lincoln, and Assurity traces its roots to 1890.
A local headquarters doesn't make a policy better, but some people like doing business with a company down the road. See our list of Nebraska-based insurance companies for what each one sells.
Where can you check a company or agent?
The Nebraska Department of Insurance has a company and agent lookup you can use at no cost, posts disciplinary actions against agents, and takes complaints at 877-564-7323. Use it before you sign anything. If your questions are about Medicare rather than life insurance, Nebraska SHIP gives unbiased Medicare counseling at 1-800-234-7119.
If you want to talk through how much coverage makes sense and which companies fit your age and health, talk to me. I'm an independent agent licensed for life and health insurance since 2017, this list isn't a list of companies I'm appointed with, and my help costs you nothing.
Frequently asked questions
Yes. Several companies sell policies to people in their 70s and 80s. On their websites, Mutual of Omaha lists issue ages 45 to 85 for its Guaranteed Whole Life policy, WoodmenLife lists ages 50 to 85 for final expense coverage, and Gerber Life lists ages 50 through 80 for its Guaranteed Life policy. Coverage amounts at those ages are usually smaller, often $25,000 or less.
AM Best rates an insurance company's financial strength, meaning its ability to pay claims over the long run. A++ is the highest of its 13 ratings, A+ is the second highest, A is third and A- is fourth. For a policy you may hold for 20 years or more, a strong rating matters. It does not rate prices, service or whether a policy fits you.
It depends on what the money is for. Term life covers a set number of years and costs less at first, which can fit a mortgage or a spouse's income need. Whole life lasts your whole life and builds cash value, which fits final expenses or leaving a set amount to family. Many people over 70 choose smaller whole life policies because term gets expensive or unavailable.
Not always. Mutual of Omaha, WoodmenLife and Gerber Life all advertise policies for older buyers with no medical exam. Some ask health questions. Guaranteed acceptance policies, like Gerber's, accept you regardless of health, but they come with lower coverage limits, and some pay a reduced benefit in the first years. Ask for the exact terms in writing. Larger policies often still require an exam or medical records.
Not automatically. A Nebraska headquarters means the company is local, but your policy is backed by the company's finances, not its address. Mutual of Omaha, WoodmenLife and Physicians Mutual in Omaha, and Ameritas and Assurity in Lincoln, all carry ratings of A- or better. Compare ratings, policy terms and prices from local and national companies alike.
Use the Nebraska Department of Insurance's agent and company search, which runs on the NAIC's State Based Systems lookup. You can also look up an agent's national producer number through NIPR. The Department posts disciplinary actions against agents on its website, and you can file a complaint online or by calling its consumer hotline at 877-564-7323.
Sources
- New York Life: Home page (financial strength ratings disclosure) (opens in a new tab)
- Mutual of Omaha: Whole life insurance (opens in a new tab)
- WoodmenLife: Final expense life insurance (opens in a new tab)
- WoodmenLife: Financial strength (opens in a new tab)
- Gerber Life: Guaranteed Life Insurance (opens in a new tab)
- Ameritas: Financial strength (opens in a new tab)
- Assurity: Life insurance (opens in a new tab)
- Nebraska Department of Insurance: Company and producer search (opens in a new tab)
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. 1-800-MEDICARE (1-800-633-4227) is available 24 hours a day, 7 days a week. TTY users can call 1-877-486-2048.
