- Reviews.com scores Liberty Mutual with a 3.5 out of 5 based on breadth of products, customer reviews and financial strength.
- Liberty Mutual Life Insurance offers term, whole and universal life insurance.
- The carrier’s standout strengths are its financial stability and customer satisfaction ratings from AM Best and J.D. Power.
Liberty Mutual life insurance provides a variety of coverage options to customers nationwide. It’s been active in the insurance business for over 100 years and has strong financial ratings from the top credit agencies. Liberty Mutual provides life insurance products that range from basic beneficiary payouts to investment products for wealth planning.
Life insurance Liberty Mutual products earn a Reviews.com score of 3.5 based on criteria including product offerings, customer service and the Liberty Mutual life insurance claims process.
Liberty Mutual Life Insurance Overview
YouGov ranks Liberty Mutual as the 11th most popular and sixth most famous insurance brand. Liberty Mutual has more positives than drawbacks, including the option to apply for select life insurance policies and receive an answer in 10 minutes, significantly cutting down the lengthy underwriting process most insurance companies follow.
Liberty Mutual earned an A + rating and accreditation from a BBB accreditation as well as an A financial rating from AM Best. While we typically like to see A+ or A++ ratings from life insurance companies, an A still indicates strong financial stability. Liberty Mutual life insurance products are available to residents in all states including Washington, D.C., ensuring you’re covered regardless of where you currently are — or find yourself years later.
- Ease of use: Select products qualify for approval in 10 minutes or less with no medical exam required.
- Nationwide availability: Life insurance is available through Liberty Mutual for residents of all states and Washington D.C.
- Policy variety: Liberty Mutual offers term, whole and universal life insurance policies.
- Strong reputation: Liberty Mutual has been in business for more than 100 years with strong financial strength ratings from AM Best.
- Transparency: There is limited information about life insurance policies available on Liberty Mutual’s website.
- Digital experience: Life insurance quotes online are only available online for select term life insurance, otherwise customers must speak with an agent.
- Limited purchase options: Liberty Mutual life insurance must be purchased through an independent agent.
Liberty Mutual Life Insurance Highlights
Coverage with Liberty Mutual is fairly flexible. After all, a lot can happen in 5, 10, 15 or 20 years. Term life policies come with a guarantee of convertibility, meaning you can roll your life insurance coverage into permanent coverage without having to undergo additional underwriting. In addition, you can add a disability waiver which waives your life insurance premiums if you are seriously injured or incapacitated, providing you with some financial relief.
These are the types of life insurance policies and riders that Liberty Mutual offers:
- Convertible policies
- Accidental death and dismemberment
- Accelerated death benefit
- Disability waiver
The National Association of Insurance Commissioners (NAIC) keeps a database of customer complaints for all insurance companies. It created an index that rates the number of complaints a carrier receives compared to other companies. Liberty Mutual’s score is 2.22, well above the average of 1.0.
Unfortunately, J.D. Power does not rank Liberty Mutual in its Life Insurance Satisfaction Study. However, Liberty Mutual’s life insurance arm was bought by Lincoln Financial in 2018, and Lincoln Financial scored a 749 out of 1,000.
While you can purchase simple term coverage with no medical exam, you are limited to a death benefit of $250,000. It is essential to weigh whether avoiding a health examination is worth the lower insurance limits. In many cases, $250,000 may not be enough of a benefit to cover life milestones such as children’s education, a mortgage, or debt.
Liberty Mutual Life Insurance Policies
Liberty Mutual Life Insurance is a full-service insurance agency providing term and permanent coverage. Policies are either limited to a preset number of years or come with no expiration, depending on the type of policy you choose.
Term coverage is available for limits of your choice and term lengths of 10, 15, 20 or 30 years. Term life insurance is the most versatile type of coverage, ideal for most individuals. If you choose Liberty Mutual’s simplified, quick-issue Passport term insurance, you can skip the medical exam and receive an answer within 10 minutes. Passport term life insurance is capped at a benefit of $250,000, but is a good option for acquiring simple life insurance fast.
Similar to term life insurance, Liberty Mutual works hard at making the process as simple and seamless as possible. You can buy a traditional whole life insurance policy if you don’t mind undergoing a slower underwriting process. Or you can buy a simplified-issue policy with a smaller cap of $250,000. Whole life insurance is ideal for individuals who have maxed out their retirement accounts and would like to continue to build their net worth through savings and investments. Besides the death benefit amount, a portion of your premiums go towards an interest-earning cash value account you can borrow and withdraw from while you’re alive.
Universal life insurance provides the utmost flexibility. After all, your needs may be different in 10 years than they are today. Known as the Spirit Series, Liberty Mutual’s universal life insurance policy is permanent. Like whole life coverage, it has two parts: the death benefit and the cash value. However, you’ll be able to adjust the policy’s limit, as well as the payment frequency and premium amounts.
Liberty Mutual Life Insurance vs. The Competition
|Provider||Reviews.com Score||J.D. Power Customer Satisfaction*||AM Best||Available Policies|
|Liberty Mutual||3.5||Not Rated||A||TermWholeUniversal|
|Pacific Life||3.6||776||A+||TermWholeUniversalIndexVariable universal|
Information accurate as of April 2021.
*J.D. Power’s 2020 Life Insurance Satisfaction Study. Based on a 1,000-point scale.
Liberty Mutual vs. Pacific Life
Liberty Mutual and Pacific Life are both reputable insurance companies that have withstood the test of time, with over 100 years in business each. Pacific LIfe’s life insurance products are more comprehensive than Liberty Mutual’s and customers will find that Pacific Life expands on Liberty Mutual’s offerings of term, whole, and universal by adding index and variable universal life insurance.
Liberty Mutual vs. Guardian Life
Liberty Mutual and Guardian Life both offer term, whole, and universal life insurance plans. Guardian Life’s digital presence is more robust than Liberty Mutual’s, as it offers user-friendly tutorials and resources about life insurance. Potential customers can even get a life insurance quote from Guardian Life by answering just four questions. On the other hand, Liberty Mutual banks on its solid team of local insurance agents, available to guide potential clients through the process of choosing and buying the right policy.
Liberty Mutual vs. Mass Mutual Life
Deciding between Liberty Mutual and Mass Mutual comes down to one important question: what other financial products would you like to bundle? Liberty Mutual is solely focused on insurance products for individuals and business, such as life, auto, home, renters, pet, flood, and watercraft coverage. Mass Mutual also offers brokerage and investment accounts, mutual funds, wealth management, college savings, retirement, and estate planning.
Furthermore, Mass Mutual is rated by J.D. Power and has a better AM Best rating than Liberty Mutual, which speaks to Mass Mutual’s more superior financial stability.
Liberty Mutual FAQ
The fastest way to file a Liberty Mutual life insurance claim is by filing online. According to Liberty Mutual, the clearly-guided process takes roughly 10 minutes to complete. You’ll need your login information and details about the claim you’re filing including dates and supporting evidence such as photos or documents.
Liberty Mutual has been in business since 1912 and has earned an A from AM Best for financial stability. It’s one of the most reputable life insurance companies in the industry.
You can contact Liberty Mutual through the mobile app, by logging in to your online account or calling 1-844-629-8984.
We evaluated Liberty Mutual Life insurance based on riders, coverage, resources, financial strength and customer satisfaction to determine Reviews.com scores and create our best life insurance reviews. To compare life insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:
- Number of Riders: The more riders a life insurance company has, the higher it scores in our Reviews.com methodology.
- Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each life insurance company’s financial stability.
- Customer Satisfaction: With J.D. Power’s 2020 Life Insurance Satisfaction Study, we assigned a score to each company based on the rating it received.
- Coverage: Life insurance companies scored higher if customers can convert term to whole and if they offered multiple options under different types of life insurance policies.
- Resources: Reviews.com compared website functionality for life insurance companies based on ability to receive online quotes, submit online claims, and read information on different policies available.