Liberty Mutual Life Insurance Review

#9 in Life Insurance

 

Liberty Mutual provides a wide range of financial and insurance products including life insurance services. The company offers three main types of insurance policies; Term Life, Whole Life and Universal Life insurance plans. Liberty Mutual offers a variety of insurance policies under each providing consumers a range of premium, rider and coverage options to meet individual needs. 

 

Plan Details

Features

Flexible premiums

Flexible coverage

Guaranteed benefits

Accumulate cash value

Access to cash value

Guaranteed level premiums

 

Life Insurance Plans Offered

 

A. Term Life

- 10, 15, 20, 30 years

- For ages 25 to 70 years

- $100,000 to $3,000,000 coverage

- Guaranteed coverage

- Low premiums

- Complements your employer’s life insurance plan

 

B. Whole Life

- Lifelong coverage

- For ages 25 to 100 years

- $100,000 minimum coverage

- Guaranteed level premiums

- Guaranteed benefits

- Accumulate cash value

 

  1. Whole life – level premiums for entire life (until the policy anniversary following 100th birthday)
  2. Life paid-up at 65 – level premiums until policy anniversary following 65th birthday
  3. 20 year payment life – level premiums for 20 years
  4. Extra value life – combines temporary and permanent coverage
  5. Estate maximizer next generation – whole life insurance with just one payment

 

C. Universal Life

- Lifelong coverage

- $100,000 minimum coverage

- Flexible coverage

- Flexible premiums

 

  1. Spirit Series Performance Universal Life – permanent life insurance protection, builds cash value and flexible coverage, premiums
  2. Spirit Series Universal Life – not designed to build long term cash value, special lapse protection features, continuous protection

 

Plan Riders

Accidental death benefit

Child protection

Spouse protection

Guaranteed minimum cash value

Guaranteed insurability

Long term care

No lapse guarantee

 

Financial Summary

Standard and Poor’s

A

A.M. Best FSR

A

 

Liberty Mutual Life Insurance - Final Thoughts

Liberty Mutual offers a wide range of life insurance products that promises to offer consumers a variety of premium, coverage and rider options. The company’s term life plans offer good coverage amounts at flexible premiums. Rider options are attractive helping policy holders take full advantage of their protection features. The company however suffers from less than average financial ratings compared to the other leading life insurance services reviewed.

 

 

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