Freedom Life Insurance: Does It Exist?

Freedom Life Insurance Company of America is a subsidiary of USHealth Group, offering a single term life insurance policy. The company has been in business for over 50 years, providing coverage to over 15 million members nationwide. Their sole plan, LifeProtector, is a 10-year renewable term life insurance policy with a guaranteed level premium that can be renewed up to age 70. While Freedom Life Insurance receives positive reviews for its simple and affordable coverage, it also faces criticism for its limited options, lack of riders, and poor customer service.

Freedom Life Insurance Company: what they offer

Freedom Life Insurance Company, a subsidiary of USHealth Group, offers a simple and direct approach to life insurance. With a focus on providing one type of term life insurance policy, Freedom Life caters to those seeking basic coverage with a set benefit term. This makes it a viable option for individuals and families who want to protect their loved ones without the complexity of multiple plan choices.

The company's sole life insurance offering is the LifeProtector plan, a 10-year renewable term life insurance policy. This plan provides coverage for a fixed period, after which beneficiaries do not receive any benefits if the insured passes away. The policy can be renewed until the age of 70, ensuring continued protection as long as premium payments are maintained.

One of the standout features of Freedom Life Insurance is its affordable premium price ranges, starting at $10 per month and increasing in $5 increments up to $50 per month. This flexibility allows customers to choose a plan that fits their budget without compromising on the level of coverage they desire.

In addition to its life insurance offering, Freedom Life Insurance also shines through its association with USHealth Group. Policyholders can pair their life insurance coverage with other benefits offered by the parent company, including health, dental, vision, and accident insurance. This allows individuals and families to create a comprehensive package that addresses their specific needs.

However, it is important to note that Freedom Life Insurance's offerings are not available in all 50 states. Currently, residents of Connecticut, Hawaii, Massachusetts, New Hampshire, New York, Rhode Island, Vermont, and Puerto Rico are not eligible for coverage.

Overall, Freedom Life Insurance Company fills a unique niche in the market by providing a straightforward and affordable term life insurance option. While it may not be the best choice for those seeking more comprehensive coverage or additional riders, it excels at delivering simple and renewable protection for individuals and families who value ease of use and affordability.

Pros and cons of Freedom Life Insurance

Freedom Life Insurance Company of America is a subsidiary of USHealth Group. It offers a simple, one-size-fits-all term life insurance policy with an inexpensive monthly premium to those looking for renewable coverage for short-term needs. Here is a list of pros and cons of Freedom Life Insurance:

Pros

• Simple, inexpensive premium price ranges.
• Coverage is renewable up to age 70.
• You can cancel your policy at any time by ceasing payments.
• Positive customer reviews.
• Good financial ratings.
• USHealth Group, its parent company, has covered over 15 million members.
• You can pair your policy with other benefits offered by USHealth Group, including health, dental, or vision coverage.

Cons

• Only one specific level term life policy is offered.
• No riders for special benefits are offered.
• No accelerated benefit options.
• No online quoting tool available.
• Not available in all 50 states.
• Poor customer service ratings.

Customer reviews and financial ratings

Freedom Life Insurance Company is a subsidiary of USHealth Group, which has provided coverage to over 15 million members. The company offers a simple, one-size-fits-all 10-year term life insurance policy with a fixed benefit term. This basic coverage can be a good supplement to other policies, especially for those who also want health, dental, vision, or accident coverage from USHealth Group.

Customer Reviews

Freedom Life Insurance has received mixed reviews from customers. While some appreciate the simplicity and affordability of its policies, others have complained about poor customer service and rising premiums. Multiple customers have reported that their premiums increased rapidly within just six months. The company's consultants have also been described as rude and impatient.

The National Association of Insurance Commissioners (NAIC) has recorded an annual increase in complaints about Freedom Life Insurance. In 2022, the company's complaint index was 1.09 with 48 complaints, and in 2021, it was 1.16 with 42 complaints. The Better Business Bureau has given Freedom Life Insurance an F rating.

Financial Ratings

Despite the mixed customer reviews, Freedom Life Insurance has received positive financial ratings. The company is rated A- by AM Best, indicating that it is financially stable. USHealth Group, Freedom Life Insurance's parent company, is rated A+ by the Better Business Bureau.

Comparison with Other Providers

Freedom Life Insurance's simple term life insurance policy can be a good option for those seeking basic coverage without additional features. However, compared to other providers, Freedom Life Insurance may not offer as much flexibility or comprehensive coverage. For example, American National offers more flexible term life insurance policies with various term lengths and additional riders.

While Freedom Life Insurance has received positive financial ratings and has a large customer base, its customer reviews highlight areas for improvement, particularly in customer service and premium stability. Those seeking term life insurance are advised to shop around and compare quotes to find the best coverage and rates.

How to cancel your Freedom Life Insurance policy

Yes, Freedom Life Insurance exists as a subsidiary of USHealth Group. It is a legitimate company that offers term life insurance policies. Now, here's how to cancel your Freedom Life Insurance policy:

Cancelling your Freedom Life Insurance policy is a straightforward process. Here are the steps you need to take:

• Contact your insurance agent directly: Although it is not a common practice, you can simply stop paying your premiums if you no longer want your policy. However, it is recommended to contact your Freedom Life insurance agent to initiate the cancellation process.
• Reach out to the company: If you prefer, you can also contact the company directly to end your policy. You can reach out to Freedom Life Insurance customer service through their phone number, email, or website.
• No forms or fees: According to sources, there don't seem to be any forms to fill out or cancellation fees associated with terminating your Freedom Life Insurance policy.
• Confirm cancellation: It is always a good idea to confirm the cancellation of your policy to avoid any misunderstandings. Contacting customer service will allow you to receive confirmation that your policy has been successfully cancelled.
• Alternative options: If you are looking for alternative insurance providers, you may want to consider Transamerica, which offers term, whole, and universal life insurance policies, or American National, which provides more flexible term life insurance options with various term lengths and additional riders.

Freedom Life Insurance Login and Provider Portal

Freedom Life Insurance Company is a subsidiary of USHealth Group, which is headquartered in Fort Worth, Texas. The company was founded in 1956 and offers one simple life insurance plan: term life insurance. This type of insurance is designed for families who want to protect their loved ones and provides basic coverage with a set benefit term. Freedom Life Insurance is underwritten by the National Foundation Life Insurance Company and Enterprise Life Insurance Company.

USHealth Group has a dedicated member services team that assists customers with claim information, benefit guidance, and additional coverage options. Customers can manage their healthcare plans online 24/7 by logging into their MyUSHG accounts. Through this portal, they can view plan information, create and review payment statements, print ID cards, and locate preferred providers in their network.

To become a registered provider with USHealth Group, one must complete the USHL Provider Portal Access Application. This allows providers to verify member eligibility and access benefit and claim information securely online, by fax, or during business hours by contacting customer service.

While Freedom Life Insurance offers a straightforward option for those seeking term life insurance, it is important to note that their policies are not available in all 50 states. Additionally, they do not offer riders or endorsements to customise the coverage. For individuals seeking more comprehensive or flexible options, alternative insurance companies may be more suitable.

Frequently asked questions