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Liberty Mutual Life Insurance
About the Company
Liberty Mutual Life Insurance is the life insurance provider in the Liberty Mutual Group. Liberty was founded in 1912, and today is the sixth largest insurance provider in the country. As of 2005, the company had $78.8 billion in assets and $21.2 billion in annual revenue. Liberty Mutual ranks 102nd on the Fortune 500 list.
Term Life Products
Liberty Mutual's term life insurance products offer the following features and benefits:
Guaranteed Level Term
- This product comes in terms of ten, twenty, and thirty years.
- The premiums are level for the life of the policy.
- This policy has a built in conversion guarantee that is available for at least half of the level term period, which means that you can convert your program to a permanent plan from Liberty without providing evidence of insurability.
- You will receive a special conversion credit towards the premiums on the first year of your new plan.
- Your premiums may increase annually.
- You can have coverage up until the age of 85.
Renewable Convertible Level Term
- This is a ten year plan.
- There is a renewal option at the end of the term.
- Premiums will increase as you get older, but coverage will not be denied and premiums will not be raised beyond the scheduled changes because of health reasons.
- The policy can be converted up until the age of 65.
- You can earn a conversion credit if you convert to permanent coverage during the first four years of your policy.
Monthly Decreasing Term
- This is a decreasing term policy, which means the amount of coverage decreases over the life of the policy.
- This policy is commonly used as a mortgage protection product. You can tailor the product so that the coverage decreases along with your mortgage.
- This plan is convertible to a permanent life policy.
- This insurance policy is available for fifteen, twenty, twenty-five, and thirty year periods.
Liberty Mutual Financial Ratings
A.M. Best: A (Excellent)
Moody's: A2 (Good)
Standard & Poor's: A (Strong)
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