Liberty Bankers Life Reviews 2019 [Ratings, Products + Complaints]

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Liberty Bankers Life Reviews 2019. Pros, Cons, and Rates

Looking for Liberty Bankers Life Reviews? Are they the best company you can choose?  Look no further.

We intend on breaking that down for in our in-depth review of Liberty Bankers Life.

When searching for a life insurance company, it’s easy to feel overwhelmed.

This makes it harder to find a life insurance carrier that offers you the best coverage at affordable rates.

We have covered some of the top insurance companies and reviewed them as well.

These are top life insurance companies operating in the United States.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top-rated life insurance companies. Liberty Bankers Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


Our focus today is Liberty Bankers Life Insurance Company, which is well known for offering burial life insurance coverage among other popular life insurance options.

Liberty Bankers Life also offers Medicare supplemental insurance.

We are going to look at their final expense products, financial strength, and insurance ratings to help you make an informed decision.

In this Liberty Bankers Life Insurance review, we will also break down and determine if they are one of the best life insurance companies for seniors.

If you have been researching the Liberty Bankers Life Insurance company, keep reading.

Here is what you need to know.

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Liberty Bankers Life Reviews 2019

Founded in 1958 in Pennsylvania, Liberty Bankers was known as the Royal Oak Life Insurance Company in the earlier years.

The company experienced mixed success and soon found itself taken under the umbrella of Pilgrim Life Insurance Company of America.

The mission of the founders was to obtain conservative and slow growth, which the company managed. The success of the insurance carrier grew steadily and soon it was offering policies in more than 40 states.

Liberty Bankers Life was bought by the America Hilton Corporation of South Carolina in 1992, but that company was also bought by the Atlantic Financial Company.

This led to the company changing its headquarters and moving it to Wisconsin. Liberty Bankers Life was offering annuity products during this time, which helped the company to transition and achieve fast growth.

The company was again bought, this time by Heritage Guaranty Holdings, Inc, which happened after it crossed $200 million in asset management within 6 years. This time, its headquarters were shifted to Oklahoma.

At this time, Liberty Bankers Life rapidly expanded its insurance products and started to offer clients with term life, whole life, and other specialty products.

The company has continued to experience fast growth, and they have thousands of insurance agents selling their policies throughout the United States.

Liberty Bankers Life ranks in the Top 100 Insurance Companies that are offering annuities in America.

Today, Liberty Bankers Life is owned by Liberty Life Group Trust, which is a Texas company, and the insurance carrier manages total assets worth more than $1.75 billion.

This shows its financial strength.

Liberty Bankers Life Reviews and Company History

Liberty Bankers Life Insurance Company started off small but has grown to be one of the top insurance companies operating in the United States currently.

The insurance carrier offers an extensive range of insurance products and annuities to clients and businesses in over 40 states. In 1998, Liberty Bankers Life only held $5 million in insurance policies, but once it started offering annuity products, it made a great impact on the market.

It experienced rapid growth, and in just a few years had more than $200 million in assets. This led to the company being bought by Heritage Guaranty Holdings, Inc.

Liberty Bankers have been selling traditional life insurance products since 2006, which include insurance products like a whole, term, pre-need funeral, and critical illness insurance.

Currently, they have assets of more than $1.75 billion, with over 10,000 agents selling their insurance products.

Liberty Bankers Life has been acquiring other companies for over two decades, which has allowed the company to expand its operations.

Liberty Bankers Life currently has two wholly-owned subsidiaries, which the company operates all over the United States. These subsidiaries are known as American Benefit Life (ABL), and Capitol Life (CLIC).

Liberty Bankers Life Rating and Financial Strength Rating

Liberty Bankers Life has exceptionally strong financial numbers, and that has seen the company awarded with excellent grades from all 4 major insurance rating agencies in the United States.

The insurance carrier has more than $2 billion of in-force policies, which clearly showcases the exceptional performance of its products.

The financial strength and customer service ratings awarded to Liberty Bankers Life are as follows:

A.M. BestStandard & Poor’sFitchComdexBBB
B+ (Excellent)N/AN/AN/AB++

The B+ rating is given to the company from AM Best and the BBB clearly indicates that the company has a strong financial background and a healthy future.

Liberty Bankers Life Review of Products Offered

Liberty Bankers Life operates two different life insurance divisions, which are known as:

  • Ordinary life division products
  • Home service division products

The only difference between the two divisions is on how the payments are made to the insurance company.

The ordinary life division is like other insurance companies, where you will make payments through bank drafts or by sending in a check. The home division is where payments will be picked up from the company at your home.

The primary focus of Liberty Bankers Life is on their final expense insurance product.

This insurance product offers income to your loved ones and pays for additional expenses after your death.

When you’re struggling to decide on how much coverage you need, it is imperative that you understand the major differences between whole life and term life policies.

Liberty Bankers Life Whole Life Insurance and Whole Life Insurance Rating

The life insurance products offered under the ordinary life division by Liberty Bank Life are as follows:

  • SIMPL
  • Modified Whole Life
  • FLEX4LIFE
  • Med-Free Term
  • Group Flexible Life

Liberty Bankers Life Insurance Company SIMPL (Simplifies Issue Market PermaLife)

This is a whole life, no exam life insurance product that offers you with face amounts of $30,000, but the underwriting is made from an application, an RX check, and the MIB check. All eligible applicants are from the ages of 18 to 80, and you may also need to give a telephone interview as well.

MWL (Modified Whole Life) with Liberty Bankers Life Insurance Company

The modified whole life insurance policy is for people between the ages of 40 to 80, but the underwriting requirements include an RX check, MIB check, and an application.

That insurance policy has a three-year waiting period, and if the policyholder dies, the death benefit will include a sum of all paid premiums and an additional 10%.

The full death benefit will be payable immediately if there is a death from an accident.

Group Flexible Life with Liberty Bankers Life Insurance Company

The Group Flexible Life insurance policy is a Universal Life policy that offers you with insurance coverage that will cover all members of a family without any regard for health status or age.

Flex4Life with Liberty Bankers Life Insurance Company

The Flex4Life insurance policy is a non-participating whole life insurance policy comes with a guaranteed death benefit, with cash value and periodic premiums.

It is available for people from the ages of 18 to 80, but there is also a juvenile version of the policy, which is for ages 0 to 15 years old.

The non-medical policy offers you with a maximum death benefit of $250,000, and if you want a higher death benefit, you must give a medical exam with a blood/urine analysis.

Home Service Division Products with Liberty Bankers Life

The life insurance products offered under the ordinary life division by Liberty Bank Life are as follows:

Liberty Bankers Life Insurance Company and Simplified Issue Whole Life

This insurance policy is a no exam whole life insurance, which has rate classifications based on lifestyle and health.

It is offered to applicants from the age of 60 to 80 and has a maximum policy benefit of $25,000, but only $15,000 is paid to people from ages 66 to 80.

The insurance policy is available in two different formats which are the LP65 (life pay to 65) format and the 20PL (paid up in 20 years) format. This insurance product comes with fixed premium payments and death benefit protection.

Modified Whole Life with Liberty Bankers

This insurance product is offered to people from the age of 40 to 80, and the insurance policy comes with a three-year waiting period. The death benefit offered here has equal premiums that come with an additional 10% payout.

The death benefit will be paid out in full in year 4, while in year 5 it will rise to 105%, and in year 6 it will increase to 110%.

The insurance policy is purchased as a final expense product, for applicants with significant health problems.

Critical Condition With Liberty Bankers

The critical condition insurance product is meant for people, who are in critical condition, and are struggling to provide or care for their family. The coverage helps offset loss of wages and expenses.

Wealth Transfer Insurance Plans offered By Liberty Bankers

Liberty Bankers Life also offers people with wealth transfer insurance plans, which are designed to offer cash to the entire family.

It is known as the Single Premium Whole Life Insurance Policy, where applicants make one total payment for the policy.

The best part about this insurance policy is that you don’t have to make a single payment after the initial payment, and it is ideal for people who want a lot of cash upfront and achieve peace of mind and financial freedom.

Life Insurance Riders Offered By Liberty Bankers

Liberty Bankers Life also offers various policy riders for its insurance policies, which are meant to act as add-on benefits for enhancing or supplementing your life insurance policy. Most of these policy riders aren’t available in all states, so you check first if you want to add them on your policy.

Children’s Term Insurance with LBL

The children’s term insurance policy rider is a term coverage that goes till age 25 and you can buy 4 maximum units. One unit is worth $5,000 and your child can convert it to a whole life policy, worth 5 times the amount they purchased, by 25 or earlier (if they get married), without insurability evidence.

Grandchild Term Insurance with LBL

The grandchild term insurance is a term insurance policy with a rider that offers term coverage, and a grandchild coverage for $7,500 that goes till age 25.

The coverage can be converted to a whole life policy by 25 years or even if earlier (if married), which will be worth 2 times the amount they purchased.

Liberty Bankers Accidental Death and Dismemberment

This policy rider is meant to offer additional death benefit if you die in an accident.

Waiver of Premium

The waiver of premium policy rider helps waive of premiums from your policy and keeps it active if you have become disabled.

Accelerated Living Benefit

This policy rider lets policyholders access death benefits upfront if they are diagnosed with a terminal or critical illness.

Liberty Bankers Life Insurance Company Contact Information

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The Bottom Line, Liberty Bankers Life Insurance is Great for Burial Life Insurance

Don’t keep reading hundreds of Liberty Bankers Life Reviews.

We hope we provided you the information needed to make a decision on the company as a whole.

Liberty Bankers Life is a good insurance company, which offers some excellent burial insurance products.

The Standard Plus policy they offer is great for anyone who suffers from health conditions and is struggling to find life insurance.

They allow coverage for children and grandchildren at inexpensive rates, which is something that you will not find with any other insurance company.

Irrespective of the life insurance company you decide to buy your insurance policy from, you should thoroughly research the products they are offering.

This will allow you to purchase a policy that offers you peace of mind and greater financial freedom for the beneficiaries.

Did you enjoy our Liberty Bankers Life Review? 

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