Liberty Bankers Life Insurance Company Review

Liberty Bankers Life came onto the scene in 1958, and today boasts of over $1.3 billion in assets. They operate throughout most of the United States and offer a wide range of insurance products, including life insurance.
Get a Free Quote
Liberty Bankers Life Insuranc Company Headquarters

Written by Brian Greenberg
CEO / Founder & Licensed Insurance Agent

Last updated: July 18th, 2022

Reviewed by Grant Desselle
Licensed Insurance Agent

Liberty Bankers Life Insurance Company Logo

Our take on Liberty Bankers

Liberty Bankers is especially ideal for seniors looking for final expense life insurance coverage, which can lessen the burden on their families and beneficiaries after they pass away. If you’re a senior or nearing retirement, you know it can be difficult to qualify for many life insurance policies. But Liberty offers you options for whole life insurance that can cover final expenses and more.
We especially like their SIMPL and Flex4Life policies that offer great coverage for final expenses and more. While we typically don’t recommend modified plans if you can avoid them, Liberty does offer a guaranteed issue policy that can serve as a last resort option.
We also appreciate that Liberty specifically advertises a Home Service, which could be great for policyholders who have limited mobility and need an agent to come to them.
All in all, Liberty is not the only final expense provider on the market today, but their competitive rates and excellent coverage make them a solid option.

Liberty Bankers Life Insurance Company Details

A.M. Best RatingB++
S&P RatingNot Yet Rated
BBB RatingA+
Customer Service Phone469-522-4400
AddressLiberty Bankers Life Insurance Company
1605 LBJ Freeway, Suite 710
Dallas, TX 75234

What we like

Great Coverage for Seniors

Liberty offers great products for seniors looking for final expense coverage.

Pre-Need Coverage

Liberty’s pre-need coverage ensures that your funeral is paid for in advance, with rates that are guaranteed not to increase.

Home Service

Liberty’s agents are willing to meet with you in your home or other location, making it ideal for those facing mobility issues as they age.

What We Don’t Like

Limited Products

Applicants looking for level term life insurance or larger whole life coverage will need to look elsewhere.

No Online Quotes

Liberty provides no online quotes for any of its products.

Lackluster Financial Ratings

Liberty’s B++ from A.M. Best is hardly competitive for the industry. We’d like to see some improvement or reviews from S&P in the very near future.

Ready to shop for life insurance?
Start here

Liberty Bankers Life Insurance Products

Full starFull starFull starFull starEmpty star
Liberty offers limited product options, but they offer great coverage for seniors and others looking for final expense coverage.

Whole Life

Liberty offers several whole life insurance options, which can be used as either final expense insurance coverage or as permanent policies that offer some additional investment options.

SIMPL (Final Expense Product)

The SIMPL no medical exam life insurance policy is intended to be used as a final expense protection, offering limited coverage for things like funeral costs, medical bills, outstanding debts, etc. For applicants 65 and under the product is an instant-issue life insurance product with coverage ranging from $1,000 to $25,000. Applicants 66-80 can receive coverage up to $15,000.


The Flex4Life product offers permanent whole life insurance coverage in higher amounts than their other policies. Additionally, this policy also offers a choice of payment terms.

Modified Whole Life

A modified policy is available for adults who have some minor, manageable health issues, such as type-2 diabetes or well-managed blood pressure.
This policy will cover applicants between the ages of 40 and 80. There is a graded period of three years, during which the policy will pay all premiums plus 10% interest. The full death benefit becomes available in year four. But in year five, premiums will increase by 5%, and in year six increase by 10%.

Liberty Legacy Single Premium Whole Life

This single premium life insurance product is designed for the wealth transfer market. Some customers may find this a bit more complex than their immediate needs, but Liberty’s agents are available to explain your options and the details of the policy.

Pre-Need Coverage

This product is not unique to Liberty, but it’s also not the most common in the insurance world. In Liberty’s guaranteed issue life insurance pre-need policy, the policyholder makes an agreement with a local funeral home. The funeral home locks in the price of a funeral, and the policyholder pre-pays this cost through their insurance policy. In Liberty’s case, they provide this pre-need policy through another group: American Benefit Life Insurance.

Policy benefits

Full starFull starFull starFull starfull star
Multiple riders are available that can also cover children/grandchildren, and we like that Liberty offers home service to policyholders whose mobility may be limited with age.


Children’s Term

Policyholders can add their children to their policy, offering limited coverage for children of eligible ages.

Grandchildren’s Term

Policyholders have the option of adding grandchildren to their policy, provided their grandchildren meet the age requirements.

Accidental Death and Dismemberment

This rider provides an additional benefit in the event you die as the result of an accident.

Accelerated Living Benefit

This common rider provides a portion of the death benefit in the event you are diagnosed with a terminal illness. This benefit can cover unpaid medical bills, but can also extend to groceries, living expenses, or other financial obligations resulting from the illness.

Home Service

Liberty also boasts of the personal touch of home service. Agents can make house calls, or agree to meet their clients in a coffee shop or local park. Older applicants may especially benefit from this, especially if they are housebound from illness or age.

Other Financial Products

Liberty also provides other financial products and services in the form of health insurance, annuities, and more. This allows applicants to find multiple products to help plan their retirement and beyond.


Full starFull starFull starFull starEmpty star
Costs depend on age and health, but seniors can generally expect competitive rates from Liberty’s base products.

Liberty Bankers offers no online quotes for any of its policies, and its riders are only available at an additional cost. However, older applicants can easily benefit from the final expense offerings that Liberty provides. We especially see considerable value in their SIMPL term offering, which provides affordable life insurance to older applicants looking for a final expense policy.

Great Value for Seniors

Seniors typically face limited options when it comes to life insurance. Liberty provides several options for final expense insurance, as well as some riders that provide flexibility.

The Limits of Pre-Need Coverage

Pre-need coverage has its pros and cons. On the one hand, it offers the assurance that your final expenses are fully covered. However, these policies tend to lock you into the options provided by participating funeral homes, which can be limiting. Some customers may find greater value in designating money for their funeral and finding preferred options outside of this type of arrangement.


Full starFull starFull starempty starEmpty star
Liberty’s ratings aren’t poor, but we’d like to see an improved score from A.M. Best.

Financial ratings Liberty Bankers has received mixed reviews from independent agencies:

  • A.M. Best: B++
  • BBB: A+

Unfortunately, a B++ rating isn’t exactly competitive for the industry. We’d like to see this score improve, as well as additional ratings from S&P to give greater confidence in the company’s overall performance.

Liberty Bankers Life Insurance Company Alternatives
Start here

Get the most accurate rates in 2 minutes or less
Making a financial decision doesn’t have to be stressful.
See what you qualify for by answering some health questions.

Take Our Life Insurance Quiz
Take Our Quiz

Written by Brian Greenberg
CEO / Founder & Licensed Insurance Agent

Last updated: July 18th, 2022

Reviewed by Grant Desselle
Licensed Insurance Agent