Freedom Life Insurance Company Review (2024)
The USHealth Group provides life insurance to customers through its subsidiary, Freedom Life Insurance. Customers can find affordable Freedom Life Insurance, but the company only provides one plan. Additionally, the company doesn’t offer any riders. Learning more about Freedom Life Insurance will help you determine if it’s the right choice for you.
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Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
Licensed Insurance Agent
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Freedom Life Insurance only offers one plan
- Freedom Life Insurance doesn’t offer any riders
- Freedom Life Insurance is rated an A by A.M. Best
The USHealth Group provides term life insurance quotes through Freedom Life. The company offers one policy and doesn’t offer any riders. Freedom Life is rated an A by A.M. Best and has received fewer complaints than other competitors.
Knowing more about Freedom Life will help you decide if the company is the best option.
Before starting this Freedom Life Insurance review, enter your ZIP code to get free life insurance quotes in your area.
Who is Freedom Life Insurance?
The Freedom Life Insurance Company of America began in 1966 as a wholly-owned subsidiary of the USHealth Group. Its headquarters are in Fort Worth, Texas, the same city as its parent organization.
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What are the Freedom Life Insurance rates?
Life insurance companies use various factors when determining rates. These factors allow companies to assess a customer’s health conditions to determine rates. Some of the common elements used when evaluating customers include:
- Age
- Gender
- Occupation
- Overall health
- Hobbies
Freedom Life Insurance doesn’t provide life insurance quotes online. The best way to determine how much you’ll pay is to look at average rates. The company offers a 10-year term life plan, so we’ll look at that policy and term length.
The following chart shows the average annual rates for a male 10-year term life policy by value.
Male Average Annual Freedom Life Insurance Rates for a 10-Year Term Life Policy by Coverage ValueAge | Average Annual Rates for a $250,000 Policy | Average Annual Rates for a $500,000 Policy | Average Annual Rates for a $1 Million Policy |
---|---|---|---|
30 | $132 | $216 | $312 |
40 | $192 | $276 | $420 |
50 | $324 | $564 | $972 |
60 | $768 | $1,392 | $2,676 |
70 | $2,292 | $4,368 | $7,596 |
The following chart shows the same information for a female.
Female Average Annual Freedom Life Insurance Rates for a 10-Year Term Life Policy by Coverage ValueAge | Average Annual Rates for a $250,000 Policy | Average Annual Rates for a $500,000 Policy | Average Annual Rates for a $1 Million Policy |
---|---|---|---|
30 | $132 | $180 | $264 |
40 | $168 | $264 | $336 |
50 | $300 | $432 | $756 |
60 | $528 | $948 | $1,800 |
70 | $1,440 | $2,544 | $4,500 |
The charts reflect the differences in rates for males and females. Additionally, rates may increase with age and as the coverage value increases.
How can you save on coverage?
Customers can find affordable rates, but the company also provides additional ways to lower rates. Customers can save with Freedom Life Insurance by:
- Practicing health and wellness activities
- Maintaining a relatively healthy lifestyle
- Working in a low-risk occupation
Since these decisions promote overall health and wellness, reducing a person’s risk of death, the company may provide lower rates. In some cases, the rates for these customers could be less than for a similar customer who doesn’t follow these healthy practices or doesn’t inform their health insurance company about them.
What coverages are offered by Freedom Life Insurance?
Freedom Life Insurance offers one life insurance plan, and this term life option is called LifeProtector, a 10-year term. While the company doesn’t provide any permanent life policies, its term life plan is renewable up to 70 years of age.
The company’s monthly rates range from $10 to $50 monthly. As a result, the company may be cheaper for high-risk applicants. However, it may be more expensive for low-risk applicants who might otherwise find coverage for less than $10.
A disadvantage of a term life plan is that the company only provides a death benefit during the term. So, if the term expires and you don’t renew, your beneficiary won’t receive a payout. This limited coverage differs from permanent plans that cover a person for the remainder of their life.
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Does Freedom Life Insurance offer any riders?
Most life insurance companies offer customers multiple options to add to a policy. These options are called riders and allow policyholders to customize a policy to meet their needs, such as covering a spouse or child.
Freedom Life Insurance doesn’t offer any riders, and customers will only receive the coverage provided by the term life policy. In some cases, this means that customers might not be able to obtain additional coverage.
Additionally, most companies offer an accelerated death benefits rider that allows customers early access to their death benefit if they have a terminal illness. However, even this rider is not available.
How is Freedom Life Insurance rated?
Credit rating agencies review insurance companies and rate them based on their financial strength. These ratings allow customers to determine the likelihood of receiving a payout when they file claims.
Freedom Life Insurance has been rated an A by A.M. Best, the most trusted agency. A.M. Best is the only agency that has reviewed the company, but the rating is excellent and indicates that the company will provide a payout in most situations.
The Better Business Bureau (BBB) also rates companies based on their business practices. These ratings indicate the transparency and trustworthiness of companies when dealing with customers.
Freedom Life Insurance was rated an F by the BBB. This rating is the lowest given and indicates that current and former customers have expressed concerns with the company’s customer service.
Does Freedom Life Insurance have any complaints?
The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints made about insurance companies. These reviews allow potential customers to determine the quality of service they’ll receive.
As of this review, the BBB received 92 complaints about the Freedom Life Insurance Company during the past three years. There are also 98 reviews on the BBB website, which have an average of one out of five stars.
The NAIC shows that Freedom Life Insurance has 15 complaints. The company’s complaint index ratio is 1.05, indicating slightly more complaints than the average company of a similar size.
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How can you buy Freedom Life Insurance?
Customers can buy a Freedom Life insurance policy by filling out a short quote form on the company’s website. After submitting the form, an agent will call you to ask additional questions, and the answers will allow the agent to provide an accurate quote.
If you accept the quote offered by the company, you’ll have to provide some more information before the policy is active. Like other insurance companies, the policy goes into effect when the company receives the first payment.
How can you file Freedom Life Insurance claims?
Freedom Life Insurance allows customers to file claims online or by phone. Customers can file online claims by filling out a claims form located on the company’s website. Those that prefer to file by phone can call 800-387-9027.
In most cases, the company pays claims within 30 days of filing, and this timeframe is what you’ll find from most competitors.
How can you contact Freedom Life Insurance?
Customers seeking additional information can reach the company by phone at 800-387-9027. Representatives are available during business hours, which include:
- Monday through Friday between 7 a.m. and 7 p.m. (CST)
- Saturday between 8 a.m. and 1 p.m. (CST)
You can also reach the company online by filling out a contact form or emailing Freedom’s parent company at [email protected]. However, customers that want to cancel a policy must call a representative during business hours.
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What are the pros and cons of Freedom Life Insurance?
Every insurance company has pros and cons that customers should consider. Knowing these pros and cons will help you determine if the company fits your needs.
Positives of Freedom Life Insurance include:
- Various insurance options
- Low complaint index ratio
While Freedom Life only provides one life insurance option, the USHealth Group offers different types of insurance. These additional coverages include Freedom Life health insurance, accident protection, dental coverage, and vision insurance.
Buying different types of insurance with the USHealth Group and Freedom Life might result in a discount. When inquiring about coverage, asking about these potential savings will help you decide if you should buy additional insurance.
Cons of Freedom Life Insurance include:
- One life insurance option
- Insurance may be unavailable in some states
- No riders
The company only offers term life insurance and only one term length. Additionally, the lack of riders means that customers can’t customize their policy. Coverage is available in most states but is unavailable in some areas.
Freedom Life Insurance: The Bottom Line
Freedom Life Insurance is a subsidiary of the USHealth Group, providing 10-year term life insurance plans. The company doesn’t offer any riders, has few complaints, and is rated an A by A.M. Best.
Learning more about Freedom Life Insurance will help you decide if the company fits you.
Now that you know about Freedom Life Insurance enter your ZIP code to find free life insurance rates in your area.
Your one-stop online guide for life insurance quotes. Get free quotes now!
Secured with SHA-256 Encryption
Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.