Liberty Mutual Review

ByTop10.com StaffJul.17, 2018

This site is a free online resource that strives to offer helpful content and comparison features to its visitors. Please be advised that the operator of this site accepts advertising compensation from companies that appear on the site, and such compensation impacts the location and order in which the companies (and/or their products) are presented, and in some cases may also impact the rating that is assigned to them. To the extent that ratings appear on this site, such rating is determined by our subjective opinion and based on a methodology that aggregates our analysis of brand market share and reputation, each brand's conversion rates, compensation paid to us and general consumer interest. Company listings on this page DO NOT imply endorsement. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.

In a Nutshell

Liberty Mutual counts itself amongst the largest US insurers, presenting excellent policy options for customers of all ages. With alternatives that avoid medical exams alongside guaranteed life policies, the company grants all applicants the opportunity to protect themselves and their loved ones from the unthinkable.

pros

  • Premiums and payments remain level throughout term of coverage
  • Policies can be managed directly from the online dashboard

cons

  • Premiums are at the higher end of the industry spectrum
  • Death benefits, premiums fixed for term and whole life policies

Best For?

  • Varied term life policies with guaranteed benefits

Liberty Mutual’s term life policies are particularly attractive if you’re looking for set death benefits and premiums. The company’s different options for terms offer guaranteed death benefits, and while they remove some flexibility, also preset premiums, ensuring the cost of insurance does not rise.

  • Fast access, with no need for medical exam

Liberty Mutual cuts out long processing times with simplified policies up to $250,000 for customers who prefer to skip medical examinations, requiring only a few questions and an application form.

Features

One of Liberty Mutual’s biggest advantages is the diversity of its policy offerings. The company provides the traditional alternatives related to term, whole, and universal policies, but also enables you to modify them and find one that suits your specific needs best. Moreover, certain policies are accompanied by set premiums and payments, letting you more easily plan for your financial future without worrying about rising costs and unexpected outages in coverage. 

Application Process

Basic information regarding Liberty Mutual’s different policies can be found on the website and you can get a preliminary quote by filling out a short online questionnaire. To begin the application process, you can find a licensed sales agent in your town or city through the company’s locator. Once in touch with a representative, you’ll receive instructions and initial forms to complete, and must schedule a medical examination. The company makes many of its required forms and documents available online. For more information regarding medical exams, you should contact an agent. 

Policy Types and Terms

Liberty Mutual Insurance provides 3 insurance plans that suit a variety of unique needs. The first is term life policies, which offer coverage for periods of 10, 15, 20, or 30 years. Term insurance includes guaranteed premiums for the life of the policy and features the fastest application process in Liberty Mutual’s insurance portfolio. Additionally, all term policies include a guaranteed death benefit should the worst come to pass. Apart from the regular term policies, a simplified version of the plans is also available. These policies do not require a medical exam, but are capped at $250,000 in benefits.

Prospective policyholders can also apply for the whole life insurance choice, which offers more comprehensive options. Liberty Mutual provides 5 unique variations of its whole life policy, all aimed at different customers:

  • The Liberty Series Whole Life policy features set payments for the duration of policyholders’ lives, or until the policy anniversary after their 100th birthday.
  • The Liberty Series Life paid-up at 65 option is like the traditional whole life policy, but set payments last until the anniversary of the policy following the holder’s 65th birthday.
  • The 20-year Payment Life features level payments for 20 years from the start of the policy.
  • The Extra Value Life choice is a hybrid policy, combining elements of both permanent and temporary coverage. It also differs in that its prices are lower than standard whole life policies.
  • The Estate Maximizer policy is the best solution for customers looking to transfer assets when they pass. It features a single payment, lifelong protection, and death benefits higher than the initial payment.

All life policies give you access to your cash through loans and withdrawals. Additionally, all 5 whole life variants accumulate cash value over the term of the policies.

In its permanent policy options, Liberty Mutual supplies 2 universal policies. The company’s Spirit Series Performance option builds cash value and allows users to change the level of coverage and premium payments to match their circumstances. The Spirit Series Universal Life policy is designed for policyholders that want a full life option, but aren’t as concerned with building cash value. This policy also offers lapse-protection features and guarantees continuous protection through any circumstances if payments are kept current.

For customers looking for more tailored options, Liberty Mutual policyholders can add an excellent range of riders and benefits to their policies. These benefits include disability income, guaranteed insurability, child protection, and accidental death benefits.

 Help and Support

Customers wishing to contact Liberty Mutual Insurance can do so via a toll-free number available Monday through Friday between 8am to 10pm Eastern Time, and Saturdays between 9am and 6pm. Alternatively, prospective customers or existing policyholders can locate an agent in their city to evaluate and discuss options in person. Email support from Liberty Mutual Insurance is also available, with inquiries usually responded to within one business day. Overall, the company’s support staff is knowledgeable and professional, readily able to answer any queries.

Summary

Liberty Mutual offers customers a broad range of insurance options including auto, home, personal, and life policies. The Boston-based insurer administers local companies in several countries around the world. Liberty Mutual’s structure means that all policyholders are also shareholders, so they are entitled to dividends every year. With a trained global staff and a model that benefits its policyholders directly, Liberty Mutual delivers an excellent alternative for customers searching for the right life insurance coverage.

Liberty Mutual stands out from the competition thanks to the wide range of alternatives it grants customers. With outstanding service and agents across the US, Liberty Mutual Insurance is a great alternative for families and retirees looking for financial stability and peace of mind in their golden years.

Physical Address

Liberty Mutual Insurance Co.

17900 N Laurel Park Dr.

Livonia, MI 48152

Liberty Mutual