September, 23 2017

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Liberty Mutual Life Insurance Review

Liberty Mutual Life Insurance Review

Author
  • Price
  • Underwriting
  • Financial Strength

Liberty Mutual Life Insurance Review

Pros: Size- Liberty Mutual Insurance is the third largest property and casualty insurer in America and ranks at number 81 on the Fortune 500 list of the largest corporations in America.  Convenience- Many people prefer to have all of their insurance coverage’s with one company and Liberty Mutual makes it possible with their extensive insurance product line.  Local Agents- Liberty Mutual has agents based in the community which many people prefer.

Cons: Liberty Mutual’s life insurance rates are expensive compared to what is available on the market.

Bottom Line: Liberty Mutual is a top three auto and home insurer in America.  They have great brand recognition and are a financially stable insurance company.  However, when comparing their life insurance rates to other carriers they are expensive (see table below).  As we recommend with all the companies we review, receive a quote from Liberty Mutual but also from other companies as well and choose the best one.

About

Type: Mutual

Issued by: Liberty Life Assurance Company of Boston

Founded: 1912

Website: libertymutual.com

Phone: (800) 837-5254

Address: 175 Berkeley Street, Boston, MA, 02116

A.M Best Rating 2015: A (Superior) Third highest of 16 possible ratings

Comdex Ranking: 78 out of 100

BBB Rating: A+ (Liberty Mutual Insurance)

Competitors: Allianz Life Insurance Company, Thrivent Financial for Lutherans, AAA, Erie, Ohio National Life, New York Life, Northwestern Mutual, Mass Mutual, Mutual of Omaha, John Hancock, PennMutual, Principal, State Farm, Farmers, Allstate, American General Life, Banner Life, Protective Life, Primerica, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, Cincinnati Life, ANICO, TIAA-CREF, Guardian, OneAmerica, Sagicor, Amica, Minnesota Life, RiverSource.

Price Comparison Chart

Sample rates for a male in each company’s best health class for $500,000-20 year term.

AgeLiberty MutualOhio NationalProtectiveMassMutual
30$32.85$21.19$21.32$28.28
40$54.45$30.71$30.26$42.20
50$126.00$80.88$80.4397.44

 

Summary
Review Date
Reviewed Item
Liberty Mutual Life Insurance
Author Rating
3