Liberty Mutual Life Insurance Review


Rating: 8 / 10 (Very good)
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Founded in 1912, Liberty Mutual is a financial service and insurance provider headquartered in Boston, Massachusetts. Liberty offers a broad range of products and services, including property and casualty insurance, workers compensation, general liability, and group disability insurance. The company holds an A+ rating with the Better Business Bureau.

How is Liberty Mutual rated?

Breakdown

8/10
Financial Strength
8/10
Customer Experience
9/10
Policies
8/10
Flexibility

Overall Rating: 8 / 10 (Very good)

Liberty Mutual Insurance is a stable company enjoying an outstanding overall reputation and financial strength. They offer the standard term, whole, and universal policies that can be customized with optional riders and provide excellent value for policyholders. The companies efforts fall short when it comes to the information available on their website about their life insurance products and coverage options.

Financial Strength

Key Details

Underwriter
Liberty Mutual Insurance
Marketshare 2016
0.52%
Premiums Written 2016
$619,876,440
Standard & Poor's Financial Rating
BBB
Moody's Financial Rating
Baa2
AM Best Financial Rating
bbb

Financial Strength - 8 / 10

Liberty Mutual is the fourth largest property and casualty insurer in the nation, ranking among the Fortune 100 list of largest corporations in the United States. The company has an A.M. Best rating of A (Excellent), an S&P rating of A, and a Moody's rating of A2.
*The above information reflects the financial strength of the underwriter of the Liberty Mutual life insurance policies: Liberty Mutual Insurance.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAICS Complaint Ratio 2016
0.18
NAICS Total Complaints 2016
4
*The NAICS complaint ratio (in this case 0.18) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Positive Reviews
13
Number of BBB Neutral Reviews
3
Number of BBB Negative Reviews
230
Date Collected
2017-07-31

Customer Experience - 7.5 / 10

Liberty Mutual Group is a BBB accredited business with an A+ rating. There have been a number of complaints filed against the company, most of them due to problems with their products and services. Nevertheless, the business has taken the time address negative complaints and provide resolutions per Better Business Bureau requirements. Additionally, Liberty Mutual NAICS complaint ratio for 2016 was below the national average.

Liberty Mutual Policies

Liberty Mutual offers customers the following life insurance policies: Term, Whole Life, Universal Life. Because we feel that Term Life insurance is a superior choice for most customers, we've focused our review on the Liberty Mutual Term Life policy.

Term Life Insurance

Available Terms
10 year
15 year
20 year
30 year

Key Term Policy Features

  • Guaranteed Level Premiums

Policies - 8.5 / 10

Liberty Mutual offers term and permanent life insurance policies, including whole and universal life options with guaranteed level premiums and death benefits, flexible payments, and the ability to increase and decrease coverage. There are four different length options for their term life policies, 10, 15, 20, or 30 years, but the company fails to provide additional details about their most basic insurance product.

Flexibility & Available Riders

Available Riders

  • Disability Income Rider
  • Guaranteed Insurability Rider
  • Child Protection Rider
  • Accidental Death Benefit

Flexibility - 8 / 10

Life insurance policies offered by Liberty Mutual come with a host of optional riders customers can select to customize their policies. Some of them include disability income, guaranteed insurability, child protection, and accidental death benefit options. However, of interest to the consumer, none of these riders seem to be available for their term life insurance policies.

Additional Company Information

Homepage URL
Company Phone
(800) 344-0197
Headquarters Address
175 Berkley St Unit J091, Boston, MA, 02116
Year Founded
1912

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