Liberty Bankers Life Insurance Review [2021]

Liberty Bankers is a life insurance company that specializes in selling whole life insurance policies. This company does not sell term life insurance or universal life insurance. Liberty Bankers offers a variety of whole life insurance policies including final expense and pre-need life insurance policies.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Mar 18, 2021

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Quick Facts

  • Liberty Bankers was founded in 1957; the company is headquartered in Dallas, Texas
  • Liberty Bankers sells a number of insurance and annuity products, including life insurance and Medicare supplement plans
  • Liberty Bankers is comprised of three affiliate companies, The American Benefit Life Insurance Company, The Capitol Life Insurance Company, and Liberty Bankers Life Insurance Company

Liberty Bankers has been selling life insurance for over 60 years. This company sells more than just life insurance products to its customers and also offers annuities and Medicare supplement plans in addition to permanent life insurance.

Liberty Bankers’ life insurance products are different than what most of the other major life insurance companies offer. We will take a closer look at the different types of life insurance policies sold by Liberty Bankers, what kind of life insurance rates you can expect, and how strong the company’s financials are.

If you want to compare life insurance options like Liberty Bankers to the top providers in your area, enter your ZIP code above to see the best life insurance rates in your locality.

What are the life insurance rates from Liberty Bankers?

Liberty Bankers specializes in selling whole life insurance products. If you want to compare Liberty Bankers life insurance rates with other companies, take a look at the tables below. It is important to note that this is just sample data. Your life insurance rates will depend on your age, health, and other factors.

Let’s see how affordable Liberty Bankers life insurance rates compare with other companies. Below you’ll see sample rates for men based on a $30,000 whole life insurance policy.

SBLI Average Monthly Rates for $100,000 Term Life Insurance by Policy Length for Non-Smokers
Age of Non-Smoker
Average Monthly Rates for $100,000/10-yearAverage Monthly Rates for $100.000/20-yearAverage Monthly Rates for $100,000/30-year
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How does Liberty Bankers Life compare for women with the same amount of whole life insurance? Take a look for yourself at the table of sample rates below.

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These tables provide a good start to compare Liberty Bankers life insurance to the competition. However, the above rates are just samples. In order to get an accurate life insurance rate quote for a Liberty Bankers policy, you will need to contact an agent.

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What kind of life insurance policies are sold by Liberty Bankers?

Liberty Bankers mainly sells whole life, final expense, and pre-need life insurance policies. Liberty Bankers does not offer term life insurance policies to its customers. However, Liberty Bankers offers you the ability to purchase term life insurance riders for your children or grandchildren as a part of your whole life insurance policy.

Let’s take a closer look at the specifics of Liberty Bankers’ whole life insurance policies.

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What do I need to know about Liberty Bankers’ whole life insurance products?

Liberty Bankers offers four distinct types of whole life insurance policies. There are also a number of riders available to help customize your life insurance coverage.

Liberty Bankers’ “SIMPL” whole life insurance policy is specifically designed for final expense protection. This policy is designed to cover the costs of your final expenses such as burial, cremation, etc. If you are looking for a more robust life insurance policy, you will want to choose a different policy than SIMPL.

Liberty Bankers’ “Modified Whole Life” policies are designed to also cover final expenses, but these policies are also created for insurable adults with manageable health issues. This policy can give you a little bit of extra coverage to help cover care costs, etc.

The “Flex4Life” whole life insurance policy from Liberty Bankers gives consumers more options when it comes to their life insurance coverage. The Flex4Life policy not only comes with higher coverage amounts, but these policies also offer a variety of payment options too. This is the most flexible policy offered by Liberty Bankers.

Liberty Bankers also offers a single premium whole life insurance policy that is designed for the wealth transfer market. This policy is called the “Liberty Legacy Single Premium Whole Life.”

If you are unsure which life insurance policy best fits your needs, please speak with a life insurance agent to weigh each policy’s pros and cons and assess your specific needs.

What is pre-need life insurance?

As we mentioned earlier, Liberty Bankers sells pre-need life insurance policies too. You may be wondering what pre-need life insurance is. Pre-need life insurance is basically just final expense life insurance coverage.

The policy is designed to cover the costs of your final expenses. However, pre-need is different than final expense life insurance policies because it gives you the ability to choose your funeral home and make all of your final arrangements before you pass.

Instead of paying out a benefit to someone you name as your beneficiary, a pre-need final expense life insurance policy pays your death benefit directly to a funeral home of your choice. This type of policy allows you to make all of your own final arrangements.

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What is Liberty Bankers A.M. Best Rating?

Liberty Bankers has a financial strength rating of B++ from A.M. Best. This rating is indicative of a strong financial background. This is important in the insurance industry because companies with weak financial ratings may not be able to pay their benefits on time or in full.

It is important to choose a company that has a reputation for paying their benefits on time. After all, you paid your premiums on time. It is not too much to expect that your benefits will be paid on time too.

Liberty Bankers Life Insurance: The Bottom Line

At the end of the day, Liberty Bankers life insurance products are not right for everyone. If you are younger, looking for term life insurance, or want higher whole life insurance coverages, you will likely be better-served shopping elsewhere for life insurance.

Liberty Bankers is great for older individuals who need a little bit of whole life insurance to cover final expenses and leave a little money behind for their loved ones.

If you’re ready to compare life insurance options from Liberty Bankers to the top companies in your local area, enter your ZIP code below to see the most competitive life insurance quotes near you.

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