Freedom Life Insurance Review (2024)
Freedom Life Insurance Company of America only provides term life insurance, which costs between $10 and $50 per month. Freedom Life's policies are straight-forward term life and have a minimum term of ten years with a chance to renew before it expires. Freedom Life doesn't provide permanent life insurance, but you can compare and shop multiple companies and find the best rates.
Read moreFree Life Insurance Comparison
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Jeff Root
Licensed Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
Licensed Insurance Agent
UPDATED: Dec 10, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one 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 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 10, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one 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 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
- You can buy term life insurance at Freedom Life Insurance Company of America
- Freedom Life insurance is between $10 and $50 per month
- Freedom Life’s Better Business Bureau rating is extremely poor
- USHealth Group, Inc. is Freedom Life’s parent company
- Freedom Life is not affiliated with the American Freedom Insurance Company in Illinois
Freedom Life Insurance Company of America was once a stand-alone life insurance company. Today, it’s a significant subsidiary of USHealth Group Inc.
Is it possible to find affordable Freedom Life insurance rates? Why is insurance so expensive for older policyholders?
Our Freedom Life insurance review explains all the necessary details that can lead you to cheap Freedom Life insurance quotes, what products are available, Freedom Life’s third-party ratings, and much more.
Freedom Life Insurance Company has multiple competitors, and you can find the best companies in your area by entering your ZIP code in the free online quote tool above.
What products are available at Freedom Life Insurance Company?
Freedom Insurance only sells term life insurance. You won’t find whole life insurance policies at Freedom Life Insurance or its sister companies under USHealth Group, Inc.
Freedom Life’s term life policy is known as LifeProtector Term Life. You can purchase a ten-year term policy and renew it until you turn 70 years old.
Freedom Life is also a health insurance company, and its medical plans include dental and vision insurance.
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What is term life insurance?
Term life insurance provides a death benefit for the insured’s family in case of his/her untimely demise. The policyholder pays premiums over a certain period of time (the term) and in exchange, their beneficiary receives a payment upon their death.
Term policies are usually cheaper than other types of life insurance because they often do not require medical exams, physical examinations, or health questions during the application process. Terms are often in 10 year increments, i.e., you might have a 10-year term policy, a 20-year term policy, or a 30-year term policy. (For more information, read our “Life Insurance Medical Exam: What to Expect“).
Read More: Tips for the Life Insurance Medical Exam
However, there are some disadvantages associated with this type of coverage. It does not last your entire life like a whole policy, though some term policies are convertible to whole policies. Also, your insurance premiums are not fixed, and they are likely to get more expensive as you age. There is also no cash value to a term life insurance policy like you would find with a whole life insurance policy or universal life policy.
How much does Freedom Life insurance cost?
Life insurance cost depends on age, gender, health, and death benefits. Freedom Life insurance is known to carry monthly premiums between $10 and $50 per month. Freedom Life doesn’t provide any riders.
The older you get, the higher your life insurance cost will be. If your life insurance premiums are over $50, start thinking about permanent life insurance solutions.
Streamlining Experience With Freedom Life Insurance Claims Process
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
Freedom Life Insurance Company of America offers multiple convenient methods for filing claims. Policyholders can file claims online through the company’s secure website, providing a hassle-free and efficient way to initiate the process.
Additionally, claims can be filed over the phone, allowing customers to speak directly with a representative who can guide them through the necessary steps. The availability of user-friendly mobile apps further enhances the ease of filing claims, providing a seamless experience for policyholders on the go.
Average Claim Processing Time
Freedom Life Insurance is committed to swift and efficient claim processing. While specific processing times can vary depending on the nature of the claim and the required documentation, the company strives to handle claims promptly.
Timely processing ensures that beneficiaries receive the necessary support during challenging times, offering financial stability when it is needed the most.
Customer Feedback on Claim Resolutions and Payouts
Freedom Life Insurance Company of America values customer satisfaction and aims to provide fair and transparent claim resolutions and payouts. While the company’s financial stability is a strong point, customer feedback is crucial in assessing the overall claim experience.
Feedback from policyholders highlights the company’s commitment to resolving claims fairly and efficiently, reassuring customers that their loved ones will be taken care of in the event of a claim.
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Exploring Digital and Technological Advancements of Freedom Life Insurance
Mobile App Features and Functionality
Freedom Life Insurance offers a feature-rich mobile app designed to enhance user experience. The app allows policyholders to access their accounts with ease, enabling them to view policy details, track premiums, and manage beneficiaries conveniently from their smartphones or tablets.
Additionally, the app provides notifications and alerts, keeping users informed about important policy updates and upcoming payments. The intuitive interface ensures a seamless navigation experience, making it effortless for customers to stay connected with their insurance coverage.
Online Account Management Capabilities
Freedom Life Insurance Company provides robust online account management capabilities through its secure website. Policyholders can log in to their accounts to perform various tasks, such as updating personal information, reviewing policy documents, and checking the status of claims.
The online portal offers a user-friendly interface, empowering customers to manage their policies efficiently and make informed decisions about their coverage.
Digital Tools and Resources
In addition to the mobile app and online account management, Freedom Life Insurance offers a range of digital tools and resources to assist customers. These resources may include educational materials, interactive calculators, and informative articles related to life insurance and financial planning.
By providing access to valuable digital tools, the company equips policyholders with the knowledge and resources needed to make well-informed decisions about their insurance needs, promoting financial literacy and confidence among its customer base.
How are Freedom Life Insurance’s financial strength and customer reviews?
Before you buy Freedom Life insurance policies, you should check out what the best rating agencies say about the company. Let’s review ratings from A.M. Best and the Better Business Bureau.
Freedom Life Insurance Company of America Financial Strength and Customer Satisfaction Ratings
| Rating Agencies | Ratings |
|---|---|
| A.M. Best | A- |
| Better Business Bureau (BBB) | F |
| BBB Customer Review Rating | 1.38/5 (74 Customer Reviews) |
Although Freedom Life has a stable financial outlook, its customer satisfaction grades are awful. It is always troubling when an insurance company has a high volume of customer complaints.
However, Freedom Life is backed by the USHealth Group. According to Business Wire, USHealth Group Inc. moved from B++ to A- in 2019.
What is Freedom Life Insurance Company of America?
Freedom Life Insurance Company of America was founded in 1966. Today, its corporate location is located in Fort Worth, Texas.
It’s a company that provides straight-forward term life insurance policies, but it’s connected to a more prominent company known as USHealth Group, Inc.
Although the company has poor BBB ratings, it earned over $800 million in direct premiums in 2020. That’s more than what it has in assets. Visit the BBB business profile and check the company’s ratings and the nature of complaints by customers before making a decision.
You can contact Freedom Life Insurance by calling the customer service number at (800) 387-9027.
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Freedom Life Insurance: What’s the bottom line?
There’s not much that Freedom Life has to offer. If you need more options, you’ll need to find another life insurance provider.
The company rates strong for financial stability, but the BBB rating is troubling. A company with overwhelmingly poor customer reviews may be a company you want to avoid.
It is always a good idea to speak to an independent agent before choosing an insurance policy.
Now that you know more about Freedom Life Insurance Company, enter your ZIP code in the free comparison tool below to compare multiple companies in your local area.
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Jeff Root
Licensed Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
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.