Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Mar 25, 2021

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The Truth in a Nutshell

  • You can buy term life insurance at Freedom Life Insurance Company of America
  • Freedom Life insurance is between $10 and $50 per month
  • Freedom Life’s Better Business Bureau rating is extremely poor
  • USHealth Group, Inc. is Freedom Life’s parent company

Freedom Life Insurance Company of America was once a stand-alone life insurance company. Today, it’s a significant subsidiary of USHealth Group Inc.

Is it possible to find affordable Freedom Life insurance rates? Why is insurance so expensive for older policyholders?

Our Freedom Life insurance review explains all the necessary details that can lead you to cheap Freedom Life insurance quotes, what products are available, Freedom Life’s third-party ratings, and much more.

Freedom Life Insurance Company has multiple competitors, and you can find the best companies in your area by entering your ZIP code in the free online quote tool above.

What products are available at Freedom Life Insurance Company?

Freedom Insurance only sells term life insurance. You won’t find whole life insurance policies at Freedom Life Insurance or its sister companies under USHealth Group, Inc.

Freedom Life’s term life policy is known as LifeProtector Term Life. You can purchase a ten-year term policy and renew it until you turn 70 years old.

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How much does Freedom Life insurance cost?

Life insurance cost depends on age, gender, health, and death benefits. Freedom Life insurance is known to carry monthly premiums between $10 and $50 per month. Freedom Life doesn’t provide any riders.

The older you get, the higher your life insurance cost will be. If your life insurance premiums are over $50, start thinking about permanent life insurance solutions.

Freedom Life Insurance Financial Strength and Customer Reviews

Before you buy Freedom Life insurance policies, you should check out what the best rating agencies say about the company. Let’s review ratings from A.M. Best and Better Business Bureau.

Freedom Life Insurance Company of America Financial Strength and Customer Satisfaction Ratings
Rating AgenciesRatings
A.M. BestA-
Better Business Bureau (BBB)F
BBB Customer Review Rating1.38/5 (74 Customer Reviews)
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Although Freedom Life has a stable financial outlook, its customer satisfaction grades are awful.

However, Freedom Life is backed by the USHealth Group. According to Business Wire, USHealth Group Inc. moved from B++ to A- in 2019.

What is Freedom Life Insurance Company of America?

Freedom Life Insurance Company of America was founded in 1966. Today, its corporate location is located in Fort Worth, Texas.

It’s a company that provides straight-forward term life insurance policies, but it’s connected to a more prominent company known as USHealth Group, Inc.

Although the company has poor BBB ratings, it earned over $800 million in direct premiums in 2020. That’s more than what it has in assets.

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Freedom Life Insurance: What’s the bottom line?

There’s not much that Freedom Life has to offer. If you need more options, you’ll need to find another life insurance provider.

The BBB rating is probably the most troubling. A company with overwhelmingly poor customer reviews may be a company you want to avoid.

Now that you know more about Freedom Life Insurance Company, enter your ZIP code in the free comparison tool below to compare multiple companies in your local area.