Freedom Life Insurance is a company you might consider if you’re looking for a new life insurance plan. You can choose from many life insurance companies, and finding the best one for your needs can be hard. Today, we’ll look at Freedom Life Insurance to see how their policies compare to those of their competitors.
Concerning Freedom Life Insurance
Freedom Life Insurance Co. has been around since 1956 and is now based in Dallas, Texas. They are now a part of USHealth Group, also based in the Dallas-Fort Worth area.
Through their parent company, they offer simple term life insurance plans and other types of insurance. United Healthcare is an even bigger health insurance company than USHealth Group. USHealth Group is a part of United Healthcare.
Different kinds Of Life Insurance
Freedom Life Insurance Co. only sells one kind of life insurance. This 10-year term life insurance plan is called LifeProtector. It means the plan will be good ten years from when it was bought.
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If you live longer than ten years, you can choose to renew, but your rates might go up. This plan can renew until the person is 70 years old. This policy for term life insurance is simple and cheap.
The monthly premium costs anywhere from $10 to $50. Your actual premium will depend on your age, health, and the amount you choose for the death benefit.
There are no riders for this term life insurance policy, so you can keep how your benefits work. However, it is also not a life insurance policy guaranteed to be accepted.
Instead, you’ll have to fill out a standard application, and you could be turned down if the company thinks you’re too risky to insure.
Freedom Life Insurance only has one type of life insurance policy, but its parent company, USHealth Group, has many other types of insurance.
There are many different healthcare plans, but the main focus is coverage for serious injuries and illnesses. USHealth Group also has a few different kinds of accident insurance and dental and vision insurance.
The fact that Freedom Life Insurance doesn’t offer any riders is one of the biggest problems with their term life insurance plan.
With riders, a person can change their life insurance plan to fit their needs better. Unfortunately, plans like this from Freedom Life Insurance have a lot of restrictions and might not give you and your family the coverage you need.
Things That Make Freedom Life Insurance Stand Out
Freedom Life Insurance is different because you can combine your term life insurance plan with other types of insurance that USHealth Group offers.
In addition, USHealth Group has a lot of different plans for specialty health insurance. USHealth Group, part of United Healthcare, provides more typical health insurance policies. You can find a wide range of health insurance plans through this network.
USHealth Group provides this life insurance coverage. However, remember that USHealth Group works with many different underwriters, so not all of these policies are underwritten by Freedom Life.
With PremierChoice PPO, there is no deductible for care related to illness or accidents. SecureAdvantage PPO: Care for illness and accidents is covered, and the deductible can change.
HealthAccess II gives you fixed indemnity coverage with no deductible to help pay for your main health insurance plan. In addition, MedGuard offers coverage for critical illnesses.
Accident Protector pays for medical bills higher than normal after an accident. IncomeProtector gives you short-term disability insurance if you get hurt and can’t work.
SecureDental: Provides family dental coverage.
Premier Vision: Provides comprehensive vision coverage. If you need any of these types of coverage, you can add them to your life insurance plan and pay less for your premiums.
Most people won’t need this extra health insurance, but it can give you peace of mind if you’re worried about medical emergencies.
Ratings Of Finances
Before buying a life insurance policy, it’s always a good idea to find out how financially stable the company is. Especially when the economy is bad, it’s important to ensure that your insurance company is stable enough to pay any claims.
Several companies rate how financially stable insurance companies are, but A.M. Best is the most well-known.
Freedom Life Insurance has the highest A.M. Best rating among USHealth Group subsidiaries. They now have an A- rating and have improved over the past few years.
Even though A- is not the best rating, it shows that Freedom Life Insurance can pay out claims even if the economy worsens.
Freedom Life Insurance Reviews
When looking for life insurance, you should also consider what people say about the company online. These reviews can tell how other customers feel about that company and what you can expect if you buy a policy from them. But it’s also important to take reviews with a grain of salt because people’s experiences can differ.
Currently, the Better Business Bureau has yet to approve Freedom Life Insurance. However, when you look at their BBB page, you’ll see that most reviews are negative.
These reviews say that Freedom Life and USHealth Group have bad customer service and coverage terms that are hard to understand. You will also find bad reviews on their profiles on other sites like Yelp and Google Business.
Even though these reviews are based on the experiences of individual customers, it is still important to consider them when looking for life insurance.
When there are so many bad reviews, it usually means that the company has a pattern of bad customer service that other people are likely to experience as well.
The number of complaints about Freedom Life Insurance is another thing to consider. This number shows how many complaints the insurance company gets compared to how many customers they have overall.
It shows if the number of complaints they get for their size is above or below average. So, for example, the National Association of Insurance Commissioners has no complaints on file for Freedom Life Insurance. So it is a very low number of complaints for a company of their size.
How To Get Life Insurance From Freedom
Freedom Life Insurance’s website has a limited amount of information about how to apply, so it’s hard to know what to expect ahead of time.
In addition, their website lacks automated price comparison features and live chat, making price comparison difficult. To apply, fill out a quotation form on their website with basic information about yourself and your coverage needs.
After you fill out the form online and send it in, an agent will call you to finish the application process. Freedom Life Insurance does not offer direct-issue life insurance, so you will have to go through an assessment before they give you a policy.
You may have to fill out a detailed questionnaire about your health and way of life, and you may also have to get a medical exam. Using this information, life insurance companies can figure out how risky you are to insure and then set your premiums.
You can also combine your life insurance with any other insurance plans offered by USHealth Group.
Freedom Life and USHealth Group policies allow you to register online.
Then you can go online to pay bills, look over your policy, and do other things. But, of course, you can also continue to work with your agent to take care of your policy.
You’ll need to call customer service, which is open from 7 a.m. to 7 p.m. Central Time, Monday through Friday, and from 8 a.m. to 1 p.m. on Saturday.
You can call or send an email to customer service. This basic term life insurance policy allows you to terminate by not paying your payments.
Is Freedom Life Insurance A Real Company?
Yes, Freedom Life Insurance is a real company that sells insurance. As a part of USHealth Group, they are a trusted insurance provider.
So freedom Life Insurance may be right for you if you have USHealth Group supplementary health insurance and want to add life insurance easily.
Freedom Life Insurance has a lot of good points, but there are also many things to watch out for because this company is only right for some.
It exclusively provides term life insurance. Freedom Life Insurance only has 10-year terms, and they don’t have any options for older people that are guaranteed to be accepted. If you need riders, making your policy fit your needs is even harder.
Freedom Life Insurance’s Customer Service
On top of that, Freedom Life Insurance’s customer service gets very bad reviews. They also need a better way for people to apply online.
If you want a lot of communication and help from your insurance company, there are better choices than this. However, if you decide to go with this provider, you should know that past customers have had to wait a long time and needed help understanding what Freedom Life Insurance was trying to say.
When looking for insurance, you should get quotes from several companies to see which one can give you the best rate.
Each company has its way of figuring out how much insurance costs so that you might get different quotes for similar policies from other companies.
Remember that the cheapest policies are only sometimes the best. So instead, it would help if you are looking for a company that gives you a lot for your money.
If you have difficulty finding the right insurance company for your needs, you should also talk to an insurance agent.
Independent agents know a lot about the wider insurance market and can help you find policies you would have needed help finding on your own.