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Freedom Life Insurance Company of America Review 2022

The benefits explained

  • Fonts start at $10: You can purchase 10-year term coverage for between $10 and $50 per month, depending on your age and health. However, you will need to ask an agent how much coverage they are buying and compare the rate with other companies.
  • Fewer complaints than expected with the NAIC: Freedom Life received far fewer complaints than expected given the size of the business, which is a positive indicator of customer satisfaction.
  • Renewable up to 70 years: Although Freedom Life only offers 10-year terms, you can continue to renew your policy until age 70.
  • Superior financial strength ratings: Freedom Life receives high marks for financial strength from independent rating agency AM Best.

Disadvantages Explained

  • Maximum duration of 10 years: Most other insurance companies offer terms up to 30 years. If you want to lock in your rate for more than a decade, you’ll have to look elsewhere for a term insurance policy.
  • Not available nationwide: Freedom Life only underwrites insurance policies in 31 states.
  • No passengers available: Freedom Life does not offer any options to customize your policy, even at an additional cost.
  • No online quote: Although you can fill out a form to be contacted by an agent, you cannot get quotes or buy a life insurance policy online through US Health Group.

If you wish to renew your Freedom Life 10-year term insurance policy, you will likely be subject to a price increase based on your age. This could make coverage more expensive than if you lock in your rate for a longer-term policy.

Index of complaints

Freedom Life Insurance received far fewer consumer complaints than expected given the size of the company, according to the National Association of Insurance Commissioners (NAIC). The NAIC publishes a Complaints Index annually for each insurance company based on the number of complaints received by the company relative to the insurer’s market share. An index of 1.00 indicates that the company received an expected number of complaints, while an index below 1.00 indicates that it received fewer complaints than expected. Over the past three years, Freedom Life Insurance has received an average Complaint Index of 0.22 for individual life insurance, which means that consumers complain about Freedom Life less frequently than expected.

Third-party reviews

Freedom Life also receives high ratings for financial stability from respected credit rating agency AM Best. A good rating from AM Best is important because it means the company has a high probability of paying claims in the distant future. We generally do not recommend any insurance provider with a score below Band A; the highest AM Best rating is A++. In 2021, Freedom Life Insurance received an A+ (Superior) financial strength rating from AM Best.

Policies available

Term life insurance

Term life insurance is designed to last a number of years, as opposed to your lifetime. You can usually buy a policy that lasts between 10 and 30 years, and the premiums remain stable throughout the term. At the end of the term, you may have the option of renewing coverage, but your rate will increase each year based on your age.

Unlike most of the other term providers we’ve reviewed, Freedom Life only offers one choice of terms. The LifeProtector plan provides coverage for 10 years and is renewable (with a premium increase) to age 70. The policy does not create cash value, and if you die when the policy is no longer in force, your beneficiaries will not receive a payment.

Runners available

Riders are a way to customize your insurance policy with additional coverages and can meet a variety of different needs, including allowing you to suspend premiums if you become disabled, giving you access to cash if you become ill and providing coverage for your children. Unfortunately, we couldn’t find any endorsements that Freedom Life Insurance offers with their term insurance policy.

Customer service

Freedom Life Insurance offers extended customer service hours between 7 a.m. and 7 p.m. CT on weekdays and 8 a.m. and 1 p.m. CT on Saturdays. You can call 1-800-387-9027, email the company at info@ushealthgroup.comor fill in this online form to get in touch with a member of the support team. You can also perform certain transactions through your online account at any time.

Our Methodology: How We Review Life Insurance Companies

We have designed a comprehensive ranking methodology based on consumer priorities and life insurance company fundamentals to rank over 90 insurers in five general categories: financial stability, customer satisfaction, variety of products and features, experience of overall purchase and cost.

To do this, we collected over 5,000 data points and scored each company based on 55 metrics. We’ve grouped the metrics by category to see insurers’ performance in each; we then weighted the category scores to determine overall company performance.

For more, read our full Life insurance methodology.

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