Freedom Life Insurance Company of America Review

Simple ten-year term policies with no available riders

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US Healthcare Group

 US Healthcare Group

Investopedia’s Rating
2.1

Our Take

Freedom Life is best for people who want a no-frills, 10-year term policy and prefer talking to an agent rather than transacting online. If you’ll need life insurance for a longer period, or you want other benefits, you’ll need to look elsewhere. That being said, Freedom Life is a financially strong insurer and has no apparent issues with customer satisfaction.

  • Pros & Cons
  • Company Overview
Pros & Cons
Pros
  • Policies start at $10

  • Fewer complaints than expected with the NAIC

  • Renewable to age 70

  • Superior financial strength ratings

Cons
  • 10-year maximum term

  • Not available nationwide

  • No available riders

  • No online quotes

Company Overview

Freedom Life Insurance Company of America underwrites life insurance policies as a subsidiary of U.S. Health Group, a UnitedHealthcare company, and is headquartered in Fort Worth, Texas. U.S. Health Group serves more than 15 million policyholders in all states except WA, OR, ID, CA, NM, ND, MN, AK, ME, NH, VT, MA, RI, CT, NY, and NJ. In addition to life insurance, the company also offers accident, health, dental, vision, and disability insurance.

  • Year Founded 1959
  • Kinds of Policies Term
  • Payment Options Not disclosed
  • Customer Service Email: info@ushealthgroup.com. Phone: 1-800-387-9027. Online form
  • Official Website www.ushealthgroup.com
US Healthcare Group

 US Healthcare Group

Investopedia’s Rating
2.1
Table of Contents
Freedom Life Insurance Company of America Review

Pros Explained

  • Policies start at $10: You can buy 10 years of term coverage for between $10 and $50 per month, depending on your age and health status. However, you’ll need to ask an agent how much coverage that buys and compare the rate with other companies. 
  • Fewer complaints than expected with the NAIC: Freedom Life had far fewer complaints than expected given the company’s size, which is a positive indicator for customer satisfaction. 
  • Renewable to age 70: While Freedom Life only offers 10-year terms, you can keep renewing your policy until you reach age 70. 
  • Superior financial strength ratings: Freedom Life gets high marks for financial strength from the independent ratings agency AM Best.

Cons Explained

  • 10-year maximum term: Most other insurance companies offer terms up to 30 years. If you want to lock in your rate for longer than a decade, you’ll need to look elsewhere for a term policy. 
  • Not available nationwide: Freedom Life only underwrites insurance policies in 33 states. 
  • No available riders: Freedom Life doesn’t offer any options for customizing your policy, even at an extra cost. 
  • No online quotes: While you can fill out a form to be contacted by an agent, you can’t get a quote or buy a life insurance policy online through U.S. Health Group.

If you want to renew your 10-year term policy from Freedom Life, you’ll likely be subject to a price increase based on your age. That could make coverage more expensive than if you locked in your rate for a longer term policy.

Complaint Index

Freedom Life Insurance received far fewer complaints from consumers than expected given the company’s size, according to the National Association of Insurance Commissioners (NAIC). The NAIC reports a complaint index for each insurance company annually based on the number of complaints the company received relative to the insurer’s market share. An index of 1.00 indicates that the company received an expected number of complaints, while an index less than 1.00 indicates it received fewer complaints than expected. Over the last three years, Freedom Life Insurance received an average complaint index of 0.217, which means that consumers are complaining less frequently than expected about Freedom Life. 

Third-Party Ratings

Freedom Life also gets high marks for financial stability from the respected credit ratings agency AM Best. A good grade from AM Best is important because it means the company has a high likelihood of paying claims far into the future. We typically don’t recommend any insurance providers that score below the A bracket; the highest AM Best grade is A++. In 2021, Freedom Life Insurance received an A+ (Superior) financial strength rating from AM Best. 

Policies Available

Term Life Insurance

Term life insurance is designed to last for a certain number of years, as opposed to your entire life. You can typically purchase a policy that lasts between 10 and 30 years, and premiums stay level for the duration of the term. At the end of the term, you may have the option to renew coverage, but your rate will increase each year based on your age. 

Unlike most other term providers we reviewed, Freedom Life only offers one term choice. The LifeProtector plan provides coverage for 10 years and is renewable (with a premium increase) up to age 70. The policy does not build cash value, and if you die when the policy is no longer in force, your beneficiaries won’t receive a payout. 

Available Riders

Riders are a way to customize your insurance policy with additional coverages and can meet a variety of different needs, including allowing you to pause premiums if you become disabled, giving you access to cash if you become ill, and providing coverage for your children. Unfortunately, we couldn’t find any riders that Freedom Life Insurance offers with its term policy. 

Customer Service

Freedom Life Insurance provides extended customer service hours between 7 a.m. and 7 p.m. CT on weekdays and from 8 a.m. to 1 p.m. CT on Saturday. You can call 1-800-387-9027, email the company at info@ushealthgroup.com, or fill out this online form to get in touch with a member of the support team. You can also complete certain transactions through your online account at any time. 

Our Methodology: How We Review Life Insurance Carriers

We designed a comprehensive ranking methodology based on consumer priorities and life insurance company fundamentals to rank more than 90 insurers across five general categories: financial stability, customer satisfaction, product and feature variety, the overall buying experience, and cost.

In order to do this, we collected over 5,000 data points and scored each company based on 55 metrics. We grouped metrics by category to see how insurers performed in each; we then weighted category scores to determine how companies performed overall.

To learn more, read our full Life Insurance Methodology.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. NAIC. “Consumer Insurance Search Results - CIS.”

  2. AM Best.  “Guide to Best’s Financial Strength Ratings - (FSR).”