Pros Explained

• Other insurance products available: Beyond term life insurance, Freedom Life’s parent company offers a range of other insurance products. You can also get health insurance, accident protection, dental coverage, and vision insurance.
• Variety of premium options: This company allows you to choose your premium amount between $10 and $50, in increments of $5. Offering these options, allows customers to find coverage they can afford. Obviously, the lower the premium, the lower your coverage will be.

Cons Explained

• Only one life insurance option: While most life insurance companies offer multiple life insurance plans, such as term, whole, and universal life policies, Freedom Life only has one option: term life insurance with a 10-year term. If you want any other plan or term, you’ll have to find another insurer.
• Not available in all states: Unfortunately, Freedom Life’s policies aren’t available in all 50 states.
• No riders or endorsements available: Other insurance companies have riders you can add to your policy to enhance and customize your coverage. Freedom Life does not have any insurance riders; the policy is the same for everyone and cannot be altered.

Available Plans

Freedom Life Insurance Company and USHealth Group keep it very simple: They only offer a term life insurance policy with one term option. If you’d prefer another life insurance type, such as whole, universal, or final expense policies, you’ll have to look for another insurance company that has more robust product offerings.

LifeProtector

LifeProtector is Freedom Life Insurance Company’s term life policy. It is a 10-year renewable insurance plan, meaning you have coverage for 10 years. If you pass away during those 10 years, your beneficiaries will receive a death benefit. After the 10-year term expires, your beneficiaries get nothing if you die.

Available Riders

Most life insurance companies offer riders or insurance endorsements. Riders allow you to customize or enhance your coverage. By adding a rider to your policy, you can get additional coverage, access benefits early under certain circumstances, or get coverage for your children or spouse. Unfortunately, Freedom Life Insurance Company doesn’t offer any insurance riders. There isn’t any way to customize your policy beyond its basic coverage; its term life insurance plan is one-size-fits-all.

Customer Service

Freedom Life and USHealth Group have limited online customer resources. You cannot get an automatic quote through the website, and Freedom Life doesn’t have tools like life insurance calculators or online chat that other companies offer. To contact customer support, you can email info@ushealthgroup.com or call 1-866-722-8744. However, the availability of its representatives is limited. Customer service is only available Monday to Friday from 7:00 a.m. to 7:00 p.m. CT, and on Saturday from 8:00 a.m. until 1:00 p.m. CT.

Complaint Index

The National Association of Insurance Commissioners collects all customer complaints about insurance companies and releases company complaint ratios. A complaint ratio is a number that reflects how many complaints were lodged about a company relative to its market share.

The industry standard complaint ratio is 1.0. A ratio above 1.0 is considered worse than average and indicates that the company received more complaints than expected. In 2022, Freedom Life's complaint index was 1.09 with 48 complaints. Similarly, in 2021, Freedom Life’s complaint ratio was 1.16, receiving 42 complaints.

Third-Party Ratings

For over 100 years, AM Best has been one of the best-known credit rating agencies focused on the insurance industry. It issues financial strength ratings (FSRs), its opinion on companies’ finances, and their ability to meet their contractual obligations.

USHealth Group and Freedom Life Insurance Company are part of the insurance giant UnitedHealth Group which is rated A+ (Excellent) for financial strength by AM Best.

USHealth Group and Freedom Life were not included in the J.D. Power 2022 U.S. Individual Life Insurance Study. The study ranked life insurance companies based on pricing, product offerings, and customer satisfaction.

Cancellation Policy

Because Freedom Life only offers term life insurance, it’s fairly simple to cancel your policy. Your term insurance plan is only in effect as long as you pay your premiums during your term; if you no longer want your policy, you can simply stop paying your premiums. However, it would be better to contact your Freedom Life insurance agent or the company if you’d like to end your policy.

Price

Online quotes aren’t available; you must contact an insurance agent to get a quote for Freedom Life’s term coverage. However, the company reported that premium payment options range from $10 to $50, growing in $5 increments.

Like all life insurance companies, Freedom Life bases your monthly premiums on several factors, including your age, location, and gender.

While Freedom Life’s application process isn’t online, you likely need to choose male or female while getting a quote as you do with other life insurance companies. While being nonbinary doesn’t disqualify you from getting life insurance, be aware that most insurance companies haven’t updated their underwriting processes to reflect an awareness of gender issues.

Competition

Freedom Life Insurance Company offers just one life insurance plan. While a 10-year term life insurance policy may be adequate for some, it may be insufficient for everyone. If you need a more substantial policy with a longer term, or if you’d like a whole or universal life policy, you’ll need to find another company. Another option to consider is Transamerica. It’s one of the biggest insurers in the country, and it has term, whole, and universal life policies. Some term policies don't require a medical exam.

Transamerica has multiple life insurance plans to choose from, giving you considerably more options. And it has a collection of riders you can add to your policy to customize your coverage, including accelerated death benefits, children’s benefits, and accidental death benefits. According to the National Association of Insurance Commissioners, Transamerica's market share was the 10th largest in the United States in 2022.

Final Verdict

If you already get your health, vision, or dental insurance through USHealth Group and like your insurance agent, adding a term life insurance policy with Freedom Life can be easy. However, it has just one policy, with only a 10-year term. And, it’s not available in all 50 states. Most people will need a life insurance company that offers more options and more robust coverage than Freedom Life provides. You may be better off with a life insurance company that has whole or universal policies and riders like accelerated death benefits.

Frequently Asked Questions

What type of insurance is Freedom Life Insurance Company?

Freedom Life Insurance Company only sells term life insurance policies.

Does Freedom Life Insurance cover pre-existing conditions?

Freedom Life Insurance offers only one type of life insurance and there is no accelerated death benefit rider for chronic or terminal illness, so there’s no way to access your benefits early if you become seriously ill.

How do you cancel Freedom Life Insurance Company of America?

You can contact your insurance agent directly to cancel your policy. And while it’s not common practice, your term insurance plan is only in effect as long as you pay during your term; if you no longer want your policy, you can simply stop paying your premiums.

Is USHealth Group health insurance ACA-compliant?

Some health insurance plans from USHealth Group meet the Affordable Care Act's definition of minimum essential coverage and others do not. It all depends on the nature of the plan, what it offers, and its purpose. Life insurance is of course not health insurance and does not meet any ACA requirements.

Methodology

Our reviews of life insurance companies are based on a quantitative approach that analyzes each insurer on their stability and reliability, customer service, claims experience, diversity of product lines, and cost. We compare the terms of each type of policy offered—including available coverage amounts, optional riders, and premium payment options—with those of other major life insurance companies. Lastly, we look at how the company is rated by third-party organizations to determine its reliability and overall reputation.