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Liberty Bankers Life Review

Researcher & Writer
May 22, 2018

Most people searching for life insurance company reviews are attempting to become more familiar with a specific carrier and where it fits in within the world of insurance. However, with thousands of companies available to choose from, it can be daunting when deciding which company is best. At TermLife2Go, we work with the best life insurance companies, focusing on each unique niche provided. If you are curious if Liberty Bankers Life is right for you, please call us today to see what we can do for you!

Liberty Bankers Life Reviews

This review of Liberty Bankers Life is designed to offer you information about the company, so that you can decide if it’s the right company for you. The following video will help explain the importance of comparing life insurance quotes and companies before deciding on which one is right for you.

About Liberty Bankers Life

Liberty Bankers Life is a large, respectable life insurance company with more than $1 billion worth of assets under management. Liberty Bankers Life first opened in 1958 in Oklahoma and has since expanded to 46 states. In addition to offering life insurance policies, Liberty Bankers Life also offers annuity products.

Liberty Bankers Life’s Rating

Liberty Bankers Life has been given a B+ rating by AM Best, one of the well-respected rating agencies in the United States. A B+ rating is a solid rating, and usually indicates a stable future and healthy company financials.

Life Insurance Products Offered by Liberty Bankers Life

Liberty Bankers Life has two life insurance divisions: ordinary life division products and home service division products.

The difference between the two divisions is simply where and how the payment is received by the insurance company. Ordinary life division is like most insurance companies—you send in a check or a bank draft occurs. In Liberty Bankers Life’s Home Service Division payments can be picked up at your home or place of residence.

The company focuses primarily on final expense insurance so you can provide income for your loved ones to pay for any expenses necessary in order to wrap up your estate. When deciding on coverage it is important you understand the differences between term life vs whole life.

Ordinary Life Division Products

SIMPL, Modified Whole Life, FLEX4LIFE, Med-Free Term, and Group Flexible Life.

Home Service Division Products

Simplified Issue Whole Life, LP65 and 20PL.

Simplified Issue Whole Life: Cash value whole life insurance provides lifetime death benefit protection and fixed premium payments. Different rate classes available based on health and lifestyle. Face amounts ranging from $1,000-$25,000. Ages 66-80 face amount maximum of $15,000.

Modified Whole Life: In the first three years the policy will pay all premiums paid plus 10%. In year four, the death benefit will be the full 100%. In year five, the death benefit increases to 105%. And in year six, the death benefit increases again to 110%. Available for ages 40-80.

Critical Condition: Liberty Bankers Life offers a critical condition rider. This means that should you acquire a critical condition, particularly that jeopardizes your income and/or costs a lot for care, your family may be entitled to receive payments prior to your demise. This helps offset expenses and/or loss of wages.

Review of Liberty Bankers Life

Pros of Liberty Bankers Life

Liberty Bankers Life offers an assortment of policies that can help you to get the kind of coverage you need. Whether you need life insurance without a medical exam, a group policy, or a whole life policy, Liberty Bankers is likely to have a policy that works for you.

The SIMPL plan is a pretty straight-forward option for non-smokers looking for guaranteed premiums on a no exam whole life insurance policy.

Liberty Bankers Life has had around $1 billion in assets for the last five+ years. This alone is a sign of strength and customer confidence in their products.

Cons of Liberty Bankers Life

Liberty Bankers Life is a great senior life insurance company for most people. However, whenever you choose one life insurance company, it does mean you are missing out on what another life insurance company has to offer. The truth is, not all life insurance companies are right for all people. Liberty Bankers Life may be the best company for you—or it might not. It’s important to account for all variables when trying to figure out which company is best for you.

How do I figure out if Liberty Bankers Life is good for me?

Well, it’s not easy to do alone. To really get the best life insurance policy for your situation, you’d really need to have extensive knowledge of the life insurance industry and the other players in the market. Some life insurance companies will be better for a person with diabetes, while another life insurance company may be better for someone who is genetically-prone to getting heart disease later on in life.

The best way for you to know if Liberty Bankers Life is really great for you is to talk to a life insurance expert. We don’t mean someone who represents a specific life insurance company, such as State Farm captive agents. What you need is advice from an impartial player in the life insurance industry. Someone like TermLife2Go.

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We are a team of life insurance experts with the simple mission of helping you find the best coverage for your unique situation. We research, review, and rank life insurance companies to make that process easier.