liberty bankers life Review
As an independent insurance agent, you must provide clients with a comprehensive review of the companies you represent. In this article, we will take a closer look at Liberty Bankers Life Insurance Company, including its history, products, financial ratings, and how it compares to other top final expense companies.
Overview of Liberty Bankers Life Insurance Company
Liberty Bankers Life Insurance Company is part of the Texas-based Liberty Bankers Insurance Group, which also consists of American Benefit Life Insurance Company and The Capitol Life Insurance Company. The company was originally formed in 1958 as Royal Oak Life Insurance Company and is chartered in Oklahoma. Liberty Bankers Life issues life insurance policies in 47 states through a network of over 6,000 independent agents.
Disclaimer: We are not in any way affiliated with Liberty Bankers. In fact, we are Independent Insurance agents that offer top-rate final expense and Term insurance Products. This article is our personal review of their insurance and Pre-Need programs and our opinions on the matter. If you are looking to contact liberty bankers directly, this Phone number is 800-745-4927
liberty bankers life Review
MORE
OUR EMAIL
Liberty Bankers Life Insurance Company Review
Liberty Bankers Life Insurance Company enjoys a B++, “good,” rating from A.M. Best but is not currently scored by the other major rating services. The B++ score is solid, and there’s little risk that the company will be unable to meet its policy obligations, but other insurers have higher ratings. As of 2018, Liberty Bankers Life had nearly $2 billion in total assets, with an annual net income of over $10 million.
Liberty Bankers Life Insurance Company offers a range of life insurance products, including final expense, term life, and whole life insurance. They also offer annuity products, including fixed annuities.
Pros and Cons of Liberty Bankers Life Insurance
One of the pros of Liberty Bankers Life Insurance is its personal approach to customer service. The company offers an option of paying final expense insurance premiums to a company representative in person at the policyholder’s home. This personal touch is appreciated by many customers who prefer face-to-face interactions. Additionally, the application process is mostly automated, which generally speeds up the underwriting process and allows most new policies to be issued within a few days. This is a great advantage for seniors who need coverage quickly and don’t want to wait weeks or months to get approved.
However, one cons of Liberty Bankers Life Insurance Company is that it offers no online quotes for its products. This can disadvantage customers who prefer to research and compare policies online before deciding. It also means that customers must rely on agents to provide them with quotes, which can be time-consuming and inconvenient.
Liberty Bankers Life Insurance Company appears to have a strong customer service base. Many customers appreciate the company’s personal approach to customer service, and the automated application process speeds up the underwriting process. However, the lack of online quotes can disadvantage some customers who prefer to research and compare policies online before deciding.
Comparison with Other Top Final Expense Companies
Liberty Bankers Life Insurance Company is a solid option for seniors looking for final expense life insurance coverage, which can lessen the burden on their families. However, other final expense providers are on the market today, and their competitive rates and excellent coverage make them a solid option.
Liberty Bankers Life Insurance Company offers a range of life insurance products, including final expense, term life, and whole life insurance. They also offer annuity products, including fixed annuities. Unfortunately, Liberty Bankers Life Insurance Company offers no online quotes for its products, so comparing rates and coverage options is difficult.
Liberty Bankers Life Insurance Company is a solid option for seniors seeking final expense life insurance coverage. While they may not have the highest financial ratings, they offer a personal approach to customer service and a range of life insurance products. As an independent insurance agent, it is important to provide clients with a comprehensive review of the companies you represent, and Liberty Bankers Life Insurance Company is definitely worth considering.
How Does Liberty Bankers Life Insurance Compare to Other Companies in Terms of Final Expense Insurance?
Final expense insurance is a type of life insurance that is designed to cover the costs associated with a person’s funeral and burial. These policies are typically smaller than traditional life insurance policies, with coverage amounts ranging from $5,000 to $25,000. Final expense insurance is also known as burial insurance or funeral insurance.
Liberty Bankers Life Insurance Company offers final expense insurance, which is a whole-life policy that doesn’t require a medical exam. The company’s final expense insurance is affordable and designed to accept most seniors despite previous health issues. Liberty Bankers Life Insurance Company has a small company feel compared to other final expense life insurance companies. However, other final expense providers are on the market today, and their competitive rates and excellent coverage make them a solid option.
Liberty Bankers Life Insurance Company is a solid option for seniors seeking final expense life insurance coverage. However, other final expense providers are on the market today, and their competitive rates and excellent coverage make them a solid option. As an independent insurance agent, it is important to provide clients with a comprehensive review of the companies you represent, and Liberty Bankers Life Insurance Company is definitely worth considering.
The SIMPL Final Expense Plan is an affordable life insurance solution that helps provide peace of mind and security for clients and their families. SIMPL and MWL Product Highlights: The SIMPL Final Expense Plan offers three options to help meet clients’ financial needs. Availability of these options is based on health status at the time of the application. SIMPL Preferred and Standard both offer a level death benefit from the date of issue
Comparison Chart of Final Expense Insurance Companies
Here is a comparison chart of some of the top final expense insurance companies, including Liberty Bankers Life Insurance Company, based on their financial ratings, coverage options, and other factors
| Company | Financial Rating | Coverage Options | Pros | Cons |
|---|---|---|---|---|
| Liberty Bankers Life Insurance Company | B++ | Final expense insurance, term life insurance, whole life insurance, fixed annuities | Affordable, personal approach to customer service, automated application process | No online quotes for any of its products |
| AIG | A | Final expense insurance, term life insurance, whole life insurance | Wide range of coverage options, competitive rates | Some policies require a medical exam |
| American Amicable | A | Final expense insurance, term life insurance, whole life insurance | Affordable, flexible coverage options | Some policies require a medical exam |
| Americo | A | Final expense insurance, term life insurance, whole life insurance | Affordable, flexible coverage options | Some policies require a medical exam |
| Assurity | A- | Final expense insurance, term life insurance, whole life insurance | Competitive rates, flexible coverage options | Some policies require a medical exam |
| Foresters Financial | A- | Final expense insurance, term life insurance, whole life insurance | Competitive rates, flexible coverage options | Some policies require a medical exam |
| Gerber Life | A | Final expense insurance, term life insurance, whole life insurance | Affordable, flexible coverage options | Some policies require a medical exam |
| Mutual of Omaha | A+ | Final expense insurance, term life insurance, whole life insurance | Competitive rates, flexible coverage options | Some policies require a medical exam |
| Prosperity Life | A- | Final expense insurance, term life insurance, whole life insurance | Affordable, flexible coverage options | Some policies require a medical exam |
| Royal Neighbors | A- | Final expense insurance, term life insurance, whole life insurance | Affordable, flexible coverage options | Some policies require a medical exam |
| Sagicor | A- | Final expense insurance, term life insurance, whole life insurance | Affordable, flexible coverage options | Some policies require a medical exam |
| Sentinel Security Life | B++ | Final expense insurance, term life insurance, whole life insurance | Affordable, flexible coverage options | Some policies require a medical exam |
| Transamerica | A | Final expense insurance, term life insurance, whole life insurance | Competitive rates, flexible coverage options |