Freedom Life Insurance offers term life coverage for those who want renewable coverage and a simple monthly pricing structure. It is a good option for people who also want to purchase health, dental, vision, or accident coverage from its parent company, USHealth Group. However, Freedom Life doesn’t offer other types of life insurance, so customers who want other types of coverage will need to look elsewhere.
Based on our review of more than two dozen life insurance companies, Freedom Life Insurance was not one of the best companies we found. To see other options that may be better, visit our list of the best life insurance companies.
- Pros and Cons
- Key Takeaways
Simple price ranges
Coverage is renewable up to age 70
Cancel anytime by just stopping payment
Only offer term life coverage
No riders available for extra benefits
No online quoting tool available
No accelerated death benefit
- Freedom Life relies on the strength of its parent company, USHealth Group that offers various health coverage.
- The company maintains a solid rating from AM Best but isn’t as good as many of its competitors.
- A simple term cancelation policy exists if you are not happy; just stop paying.
- Year Founded 1956
- Average Cost Per Month Monthly premium payment options from $10 to $50, in $5 increments
- Kinds of Plans Term
- Number of Plans One
- Payment Plan Options Monthly
- Official Website https://www.ushealthgroup.com/
Freedom Life Insurance was founded in 1966. It's owned by the health insurance company, USHealth Group. Freedom Life has a simple business model; it offers one type of term life to help those who want coverage for short-term needs.
We review the types of insurance that Freedom Life offers as well as its ratings for customer satisfaction, financial stability, pricing, and more. Read on to find out whether Freedom Life Insurance is right for you.
Company Overview: Owned by a Health Insurer
Freedom Life Insurance is a subsidiary of USHealth Group, a health insurance company based in Fort Worth, Texas. USHealth is focused on providing health, dental, and vision insurance. Through Freedom Life, they offer term life coverage that’s renewable up to age 70. While Freedom Life doesn’t offer other types of life insurance, it does offer other types of coverage; this includes accident, medical, and dental.
Available Plans: Just Term
Freedom Life only has term life insurance. Term life offers a set death benefit for a defined period of time; this is in exchange for level premium payments for the length of the policy. Freedom Life doesn’t offer any form of permanent life insurance or anything that builds cash value. But term policies from Freedom Life are renewable until the insured person turns 70.
The only life insurance policy that Freedom Life offers is:
LifeProtector Term Life
The LifeProtector plan is a term life insurance policy. It offers a pre-set death benefit for a set length of time. It also has level premiums. The plan has a 10-year term; it's renewable up to age 70. Policies pay death benefits upon the death of the insured person.
While there is no information available about the minimum and maximum policy sizes, Freedom Life limits monthly premiums to between $10 and $50 per month. These grow in $5 increments. Freedom Life customizes the amount of coverage available for each premium amount for individual applicants.
LifeProtector is a 10-year term life insurance plan. It provides peace of mind for your family through valuable benefits in the event something adverse were to happen.
Freedom Life only offers term life insurance, which can be helpful. But it only provides a predetermined death benefit for a pre-set period of time. This may not meet all of your needs. If you’re looking for life insurance that provides more than just a death benefit, you may be better off with a whole or universal life policy.
Depending on your circumstances, you may be better off buying permanent coverage instead of term life. Permanent policies offer coverage that stays in force as long as your premiums are paid. Policies also often include a cash value that grows over time; you also may be able to access it before you die. Because Freedom only offers term life, you won’t be given the option to choose between the different types. That means it’s important to first do your own research about whether term life is right for you.
Freedom Life provides protection to help with things like mortgages, car payments, childcare costs, educational expenses, and other debts. These benefits are free from income tax for the beneficiary in most cases.
Available Riders: No Add-ons
Freedom Life does not offer any riders. There is no accelerated death benefit; these can be useful for those who want to access their death benefits early if they become disabled or are diagnosed with a terminal illness.
Customer Service: Nothing Special
Customers who need assistance can call Freedom Life Insurance at 800-387-9027. Hours are 7 a.m. and 7 p.m. Central Standard Time on Monday through Friday, and 8 a.m. and 1 p.m. on Saturday. You can also contact Freedom Life through their website; or, email them at email@example.com.
Customer Satisfaction: Reviews Are Scarce
Neither Freedom Life Insurance nor its parent company, USHealth Group, are rated by J.D. Power. But USHealth is rated A+ from BBB; it has very few registered customer complaints.
Financial Strength: Respectable, But Not Phenomenal
Freedom Life Insurance has an A- rating from AM Best. This suggests it is financially solvent. But it is not among the biggest financial giants of the industry. Freedom Life is also better-rated than other USHealth subsidiaries.
Cancellation Policy: Just Quit Paying
Because Freedom Life only offers term coverage, the process is fairly easy if you want to cancel. All you have to do is stop paying your premium. We couldn’t find any other information about forms that needed to be completed in order to cancel a policy with Freedom Life.
Price: Simple Structure But No Transparency
Freedom Life doesn’t offer an online quote tool. This means there’s very little information about their pricing. Freedom Life also didn’t respond to requests for price quotes. But Freedom Life does promote monthly premium payment options that range from $10 to $50, in $5 increments. There is no information about corresponding face values; multiple attempts to get a quote were not answered.
Competition: Freedom Life vs. AIG
AIG, through its subsidiary American General, offers four different types of life insurance. These include term, whole, universal, and indexed universal life. AIG offers more than 10 different policies to choose from; plus, it offers many extra riders that you can add to your policy. Also, AIG offers transparent quoting tools. This makes it easy to get an idea of what AIG's coverage will cost. Unless you're an existing USHealth customer, you should work with AIG, instead.
|J.D. Power rating||NR||2 stars|
|AM Best rating||A-||A++|
|Types of coverage available||Term life||Term, whole, universal, and variable universal life|
|Estimated monthly premiums for $500,000 of term life coverage for a 35-year-old policyholder||None available||$27.33 per month|
You Can Do Better
Freedom Life offers term life insurance that comes in a 10-year term. It's renewable until you turn 70. Freedom Life doesn’t offer any other types of life insurance or riders for custom coverage. Freedom Life is a good option if you already have a USHealth plan or you want to buy health, vision, or dental in addition to term life. But you can probably find better policies that cost less and/or offer more features than what you can get through Freedom Life.
All of our reviews of life insurance companies are based on extensive research and analysis of each company based on offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology to get the full breakdown of what we evaluated.
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USH Agent. "LifeProtector." Accessed March 25, 2020.
USHealth Group. "LifeProtector." Accessed March 25, 2020.
USHealth Group. "Contact USHealth Group." Accessed March 25, 2020.
BBB. "USHealth Group." Accessed March 25, 2020.
Businesswire. "AM Best Upgrades Credit Ratings of USHEALTH Group, Inc.’s Subsidiaries." Accessed March 25, 2020.
Life Insurance Help Desk. "Freedom Life Insurance Review." Accessed March 25, 2020.