Liberty Mutual Life Insurance Review (2024)
Liberty Mutual life insurance comes from one of the top-3 global property and casualty insurers. Founded in 1912, Liberty Mutual has become well-established and boasts strong ratings from A.M. Best, S&P, and Fitch. Get Liberty Mutual term life insurance rates as low as $16.83/month.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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Looking for Liberty Mutual life insurance? You’ll notice the well-known company offers various permanent and term life insurance quotes. Is Liberty Mutual insurance right for you?
You’ll have to answer that for yourself. To help you, we’ll condense the Liberty Mutual reviews, life insurance rates, and more about Liberty Mutual.
Before you buy Liberty Mutual life insurance, you’ll want to compare your options. Get cheap quotes from top insurance companies using our free quote tool above to get started today.
Table of Contents
What life insurance policies does Liberty Mutual offer?
Liberty Mutual is a large company that has various insurance products. You can purchase Liberty Mutual home insurance, auto insurance, life insurance, and even renter’s insurance.
Despite there being many types of life insurance policies, Liberty Mutual offers just three life insurance policy options. This includes term life insurance, whole life insurance, and annuities. If you’re looking for universal life insurance, you’ll need to find another provider.
Liberty Mutual Term Life Insurance
Liberty Mutual’s term life insurance policies can be set for 10, 15, 20, or even 30 years. This means that you’ll pay a consistent monthly rate for the duration of the term you select.
Term life insurance does have some nice features as well. They offer extended terms, conversion guarantees, numerous riders, and simplified issue policies for special circumstances.
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In short, you’ll be able to continue coverage if you outlive your term, though likely at a higher expense. You’ll also be able to convert your term life insurance policy to a whole life insurance policy if your needs change.
Liberty Mutual’s Life Insurance Riders
You’ll be able to add custom options onto your life insurance plan with Liberty Mutual. They offer a handful of common life insurance riders, listed below.
- Liberty’s Living Benefit (Accelerated Death Benefit)
- Waiver of Premium
- Accidental Death & Dismemberment
- Payor Death & Disability
- Children’s Protection
- Guaranteed Insurability
Life insurance riders are helpful features that can protect your financial assets in emergency situations. For example, you can use Liberty’s Living Benefit to access a portion of your death benefit if you become terminally ill and incur significant medical expenses.
Liberty Mutual Whole Life Insurance
Whole life insurance is a permanent life insurance option that builds cash value over time. Whole life insurance with Liberty Mutual can serve as a life insurance policy and savings asset.
Whole life insurance tends to cost significantly more than term life insurance but a portion of the monthly premium is considered cash value, which you can access in the future.
There is a 100% return of premium guarantee for some Liberty Mutual whole life insurance policies, which is a nice plus. This means you won’t lose all of the money you paid in premiums if you decide to terminate the policy.
You’ll be able to apply the same life insurance riders for your whole life insurance policy, too.
How much does Liberty Mutual life insurance cost?
So far in this Liberty Mutual insurance review, we have covered their ratings, review, and policy options. What about the Liberty Mutual life insurance rates?
Liberty Mutual Average Monthly Life Insurance Rates by Age, Gender, and Policy| Age | Male - (10 Year - $250,000) Average Monthly Rates | Male - (20 Year - $250,000) Average Monthly Rates | Female - (10 Year - $250,000) Average Monthly Rates | Female - (20 Year - $250,000) Average Monthly Rates |
|---|---|---|---|---|
| 30 | $31.73 | $33.75 | $20.93 | $25.20 |
| 40 | $35.55 | $55.13 | $24.98 | $42.53 |
| 50 | $81.68 | $144.68 | $63.68 | $107.78 |
| 60 | $220.95 | $399.83 | $130.50 | $250.65 |
Liberty Mutual’s life insurance rates climb quickly based on age, as you can see above. Males can also expect to pay a significant amount more than females.
Which is better, Liberty Mutual or Geico. Sadly, Geico isn’t well-known for selling life insurance policies. Let’s see how Liberty Mutual compares to other top life insurance providers.
Liberty Mutual vs. Other Companies: Average Monthly Life Insurance Rates Comparison by Age| Age | Liberty Mutual Average Monthly Rates | John Hancock Average Monthly Rates | AIG Average Monthly Rates | Nationwide Average Monthly Rates |
|---|---|---|---|---|
| 30 | $33.75 | $14.79 | $12.97 | $16.02 |
| 40 | $55.13 | $22.09 | $18.12 | $21.36 |
| 50 | $144.68 | $49.24 | $41.68 | $53.85 |
| 60 | $399.83 | $116.99 | $124.42 | $180.23 |
Liberty Mutual term life insurance policies are consistently more expensive than many other popular life insurance providers. If you’re looking for cheap life insurance, you might want to pursue another company.
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Is Liberty Mutual a good life insurance company?
It seems like nowadays there are insurance companies everywhere you turn. Of those, Liberty Mutual is one of the most well-known. Such a popular company must be good, right? This isn’t necessarily a given.
Who has the best life insurance? This depends on your needs, the type of life insurance, and more. The best term life insurance companies aren’t always the best whole life insurance companies.
Before you decide if Liberty Mutual is a good life insurance provider, you’ll want to break down the Liberty Mutual reviews and ratings. How do the Liberty Mutual insurance ratings look?
Liberty Mutual Life Insurance Reviews
Liberty Mutual is a large insurer that offers numerous insurance products. A.M. Best rated Liberty Mutual an A for their Financial Strength Rating, indicating that Liberty Mutual is in good standing financially.
Liberty Mutual’s ratings for financial strength were reinforced by other top rating agencies. They boast the following ratings from other agencies:
- S&P – (A-)
- Fitch – (A-)
- Moody’s (Baa2)
These ratings suggest that Liberty Mutual is in good financial standing and shouldn’t have any major issues providing death benefits when needed. The Liberty Mutual Moody’s rating of Baa2 does raise some concerns, however.
Liberty Mutual reviews from Consumer Affairs suggest that the company has good customer ratings. Liberty Mutual complaints and customer satisfaction is at a four-star average with well over 200 reviews.
If you’re looking to compare Liberty Mutual to other top-rated companies, their reviews look promising.
Comparison of Liberty Mutual to Other Insurance Company Reviews| Company | Average Reviews |
|---|---|
| Liberty Mutual | 4.0 |
| MassMutual | 2.4 |
| Allstate | 4.2 |
| Farmers | 3.4 |
| MetLife | 4.0 |
As you can see above, the Liberty Mutual reviews tend to land near or above many other industry competitors. The Liberty Mutual customer experience looks good overall.
The Liberty Mutual JD Power scores for customer satisfaction don’t show the same results as Consumer Affairs. Liberty Mutual’s ratings from JD Power are consistently below average in various regions.
It’s worth noting that the JD Power ratings are for Liberty Mutual auto insurance rather than their life insurance products. In any case, you may want to exercise caution choosing Liberty Mutual over another top company.
Liberty Mutual Customer Service
Liberty Mutual is responsive with their customer service which helps keep their reviews above many other insurance providers.
Once you purchase a policy, you can create a Liberty Mutual login to access ID cards, update billing, and review any policy details that might be important, such as the contact information for your beneficiaries.
If all else fails, you can also contact customer service using the Liberty Mutual phone number at 800-290-7933. They should be able to answer any additional questions.
What are the Liberty Mutual pros and cons?
Liberty Mutual continues to be a household name in the insurance industry. We’ve covered a good amount of information throughout this Liberty Mutual life insurance review. Here are some key takeaways.
Pros of Liberty Mutual
- Good financial ratings
- Positive customer reviews
- Strong policy benefits and riders
Cons of Liberty Mutual
- Questionable JD Power scores
- Expensive rates
- Limited policy options
If you’re looking to buy Liberty Mutual life insurance, you’ll be pleased to find that they have many complimentary benefits included in their policies but at a higher price than many other companies.
Liberty Mutual Life Insurance: The Bottom Line
You might struggle to find affordable Liberty Mutual life insurance quotes. If you do, you should be confident knowing their policy benefits, financial standing, and customer satisfaction are all positive.
Now that you know more about Liberty Mutual life insurance, shop around. Get personalized rates from top insurers in just a few clicks using our free quote tool below.
Your one-stop online guide for life insurance quotes. Get free quotes now!
Secured with SHA-256 Encryption
Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.