Freedom Life Insurance: Legit Or Scam?

Freedom Life Insurance is a legitimate insurance provider and a subsidiary of USHealth Group. The company is based in Dallas, Texas and was founded in 1956 or 1966. Freedom Life Insurance offers simple and affordable term life insurance plans with monthly premiums ranging from $10 to $50. The company also provides other types of insurance, such as health, dental, and vision coverage, through its parent company, USHealth Group. However, Freedom Life Insurance has received negative reviews for its customer service and has been criticised for its lack of riders and customisation options.

Freedom Life Insurance's parent company, USHealth Group

Freedom Life Insurance is a legitimate insurance provider and subsidiary of USHealth Group. USHealth Group is an experienced insurance company that has covered over 15 million members to date and has over 50 years of insurance experience. The company is headquartered in Fort Worth, Texas and has a "Stellar Service Reputation". USHealth Group offers a full portfolio of plans that allow customers to tailor health coverage to their specific needs. The company has won company of the year awards four years in a row and is a Gold Stevie Award Winner for 2017, 2018, 2019, and 2020.

USHealth Group's insurance plans offer an array of options for customers on a limited budget, as well as those looking for additional benefits. The company provides flexibility and reliability, with 24-hour coverage, wellness and health screening benefits, and three plans to choose from. USHealth Group also offers health, dental, and vision coverage, which can be paired with Freedom Life Insurance's term life insurance plan.

USHealth Group is part of the insurance giant UnitedHealth Group, which is rated A+ (Excellent) for financial strength by AM Best. UnitedHealth Group has subsidiaries across the United States, including in Texas, Minnesota, and Pennsylvania.

The types of insurance offered by Freedom Life

Freedom Life Insurance Company is a subsidiary of USHealth Group, which is itself part of United Healthcare, a large health insurance company. Freedom Life Insurance offers a single type of life insurance: LifeProtector, a 10-year term life insurance plan. This plan is simple and affordable, with monthly premiums ranging from $10 to $50. The exact premium depends on factors like age, health status, and the death benefit amount.

While Freedom Life Insurance only offers one type of life insurance policy, its parent company, USHealth Group, provides a range of other insurance products. These include various healthcare plans, with a focus on coverage for severe injury and illness, as well as accident, dental, and vision insurance.

• PremierChoice PPO: Coverage for disease and accident-related care without a deductible.
• SecureAdvantage PPO: Coverage for disease and accident-related care with a flexible deductible.
• HealthAccess II: Fixed indemnity coverage with no deductible to support your main health insurance plan.
• MedGuard: Critical illness coverage.
• Accident Protector: Coverage for excess medical bills resulting from an accident.
• IncomeProtector: Short-term disability coverage if you are injured in an accident and cannot work.
• SecureDental: Family dental coverage.
• Premier Vision: Comprehensive vision coverage.

In addition to the above, USHealth Group is also a part of United Healthcare, which offers more standard health insurance plans.

The pros and cons of Freedom Life Insurance

Freedom Life Insurance is a legitimate insurance provider and a subsidiary of USHealth Group. The company offers a simple term life insurance plan called LifeProtector, which is a 10-year renewable term life insurance policy. The plan is affordable, with monthly premiums ranging from $10 to $50. The exact premium depends on factors like age, health status, and the death benefit amount selected.

Pros:

• Simple and inexpensive premium price ranges.
• The coverage is renewable up to the age of 70.
• The policy can be easily cancelled at any time by ceasing payments.
• The company has good financial ratings, indicating financial solvency.
• The company offers a basic form of coverage that can supplement and bolster other pre-existing policies.

Cons:

• Only one specific level term life policy is offered, with no riders for special benefits.
• No accelerated benefit options are available.
• No online quoting tool is available to compare prices.
• Poor customer service reviews, including long wait times and unclear communication.
• The company's policies are not available in all 50 states.

The application process

Freedom Life Insurance does not provide much information about its application process online. However, here is a step-by-step guide on how to apply for their insurance:

• Visit the Freedom Life Insurance website and fill out a quote form with basic demographic information and details about the coverage you need.
• Once you have submitted the form, an agent from Freedom Life Insurance will contact you directly to finalise the application process.
• As Freedom Life Insurance does not offer direct issue life insurance, you will need to undergo an assessment before they will issue a policy. This will likely include a detailed questionnaire about your current health status and lifestyle, and you may also need to take a medical examination.
• After completing the assessment, Freedom Life Insurance will determine whether to offer you a policy and set your premiums.
• If you are offered a policy, you can choose to integrate your life insurance policy with other insurance options from USHealth Group, the parent company of Freedom Life Insurance.
• Once you have a policy, you can create an online account on the USHealth Group website to manage your policy, pay bills, and review your coverage.

It is important to note that Freedom Life Insurance does not offer an online application process, and you cannot get quotes or purchase coverage through their website. You will need to work with an agent to finalise your application and purchase a policy.

Reviews of Freedom Life Insurance

Freedom Life Insurance Co., a subsidiary of USHealth Group, offers a simple term life insurance plan. This plan, called LifeProtector, is a 10-year renewable term life insurance policy, with the option to renew until the age of 70. The monthly premium for this plan ranges between $10 and $50, depending on factors like age, health status, and the death benefit amount selected.

While Freedom Life Insurance has received positive customer reviews, with an average rating, its parent company, USHealth Group, has a less-than-stellar reputation. In 2022, Freedom Life's complaint index was 1.09 with 48 complaints, and in 2021, the ratio was 1.16 with 42 complaints. These numbers indicate that the company received more complaints than expected relative to its market share.

Online reviews of Freedom Life Insurance on sites like Yelp, Google Business, and the Better Business Bureau (BBB) are predominantly negative, with customers citing poor customer service and unclear coverage terms. The BBB gives the company a rating that reflects its opinion of the organization's interactions with its customers, including interactions with local branches.

One common criticism of Freedom Life Insurance is the lack of riders available for their term life insurance plan. Riders allow customers to customize their coverage to suit their unique needs, and the absence of this option makes the company's offering less appealing to those seeking tailored insurance solutions.

Additionally, Freedom Life Insurance's application process has been described as inefficient, with a lack of online tools for comparing prices and limited availability of customer support representatives.

Despite these criticisms, Freedom Life Insurance is a legitimate insurance provider, backed by the larger USHealth Group. However, prospective customers should be aware of the limitations of their offerings, particularly the absence of riders and the exclusively term-based life insurance plans.

It is always advisable to get quotes from multiple insurance companies and carefully review the terms and conditions before making a decision.

Frequently asked questions