Liberty Mutual is the parent company of Liberty Life Assurance Company of Boston. Liberty Life is an excellent choice for life insurance. However, the company is one of many choices available to you.
At TermLife2Go, we work with dozens of the top rated companies offering the best life insurance and best no medical exam life insurance. Keep reading our review of Liberty Life to determine if it is the right company for you.
2017 Liberty Mutual Insurance Review
About Liberty Mutual and Liberty Life
Liberty Life, a Liberty Mutual company, offer a variety of insurance policies. Its parent company offers insurance policies including a range of auto & vehicle, property, as well as life insurance, under the Liberty Life banner. The parent company, Liberty Mutual, has been around since 1912. Liberty Life was established in 1964.
Liberty Mutual issues life insurance and annuities via Liberty Life Assurance Company of Boston.
Liberty Mutual Ratings
Liberty Life’s parent company is Liberty Mutual. Liberty Mutual controls the finances and is the entity rated by the different insurance rating agencies. These ratings are really helpful for understanding a insurance company’s financial strength and prospects for the future.
Liberty Mutual ratings by three of the top rating organizations:
- A.M. Best Company: A (Excellent)
- Moody’s Rating: A2 (Good)
- Standard & Poor’s: A (Strong)
These three ratings organizations all expressed confidence in Liberty Mutual as a financial institution and insurance provider in the company meeting ongoing financial obligations to its policyholders.
Policies offered by Liberty Mutual via Liberty Life Assurance
Like most life insurance companies, Liberty Life Insurance offers two main categories of policies: term life insurance and permanent life insurance.
Liberty Mutual Term Life Insurance
Level term life insurance is designed so that the policy remains in effect for as long as the term. Consider term life insurance for protecting the primary income earner, covering a mortgage, or securing a small business loan.
Liberty Series Passport Term:
available in 10, 15, 20, and 30 year terms.
Permanent Life Insurance
Liberty Mutual offers several permanent life insurance policies. Permanent life insurance lasts your entire life, as long as premiums are paid. Generally, this type of coverage is for estate planning or business succession planning, such as funding a buy-sell agreement.
Liberty Mutual Whole Life Insurance
All Liberty Mutual whole life insurance endows at age 121.That means the policyholder will receive the full face amount upon reaching age 121 – good luck with that!
Liberty Mutual offers the following in both exam and simplified issue whole life insurance policies for certain face amounts:
Liberty Series Whole Life: cash value life insurance that is guaranteed throughout your life—as long as premiums are paid. Face amount and premiums are fixed.
Liberty Series Life paid-up at 65: Level premiums until age 65, at which time the policy is paid up life insurance.
Liberty Series 20-year Payment Life: Level premium payments over 20 years.
Liberty Series Extra Value Life: Blends whole life insurance and term life insurance together, which in turn lowers the premium compared to ordinary whole life insurance. Only available as payable to age 100.
Liberty Series Estate Maximizer Next Generation: single premium whole life insurance
Whole Life Insurance Riders
If you are willing to pay a little extra for more protection in certain circumstances, you will have an opportunity to add life insurance riders to the policy including:
- Disability Waiver of Premium,
- Accidental Death & Dismemberment,
- Payor Death & Disability,
- Children’s Protection,
- Living Benefit, and
- Guaranteed Insurability.
Liberty Mutual Universal Life Insurance
Spirit Series Performance Universal Life – flexible premiums and face amount policy that builds cash value.
Spirit Series Universal Life– Similar to Performance UL but sacrifices cash value for a lower premium.
Cons for Liberty Mutual
One potential con is that the company does not offer participating whole life insurance. Dividends are an important component when building cash value.
Another drawback of Liberty Mutual is that it is but one company of many. As with any carrier, we recommend that you consider you options so that you know you are choosing the best life insurance company available.
Who is the best life insurance company?
There is a good chance that Liberty Mutual is the best life insurance company for you. They are for many. However, each individual case is unique and deserves to be treated as such.
There may be a life insurance company out there that better meets your individual needs, offering you a lower rate and better coverage. If you straight away purchase a life insurance policy with Liberty Life, you’ll never really know.
How do I find the best life insurance company for me?
Don’t worry; TermLife2Go is here! We help life insurance seekers like you to find the best life insurance company for each specific case. Sometimes we recommend Liberty Life—after all, they’re a great company—and sometimes we find out another life insurance company is better for our client. We take the effort to do thorough research each and every time, providing you with a solid recommendation—one we can stand by—each and every time.
How does TermLife2Go work?
We start by finding out all the information we need to know about your life insurance needs and budget. Then we learn about you! We ask you the same kind of questions a life insurance company will ask before they underwrite a policy. This may help us to gather information like:
- Medical History
- Habits/Lifestyle (i.e. smoker/non-smoker, drinker/non-drinker)
- Hereditary Diseases & Illnesses
Then, after we spend some time getting to know you and your needs, we compare that information against what various life insurance companies can offer you. We work with dozens of companies offering the best life insurance to find you the best life insurance policy possible.
If you call Liberty Life directly you will only find out what they have to offer. However, if you call TermLife2Go, you’ll not only find out about what rates Liberty Life will give you for specific policies, but also what many other life insurance companies will.
So what are you waiting for? Call TermLife2Go today and get your free consultation to ensure you get the best life insurance policy possible.
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