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: Sep 20, 2021

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The Truth in a Nutshell

  • A.M. Best gave Liberty Mutual an “A” rating
  • Liberty Mutual has a decent amount of riders available you can use to customize your policy
  • Liberty Mutual is generally more expensive than the industry average but provides excellent customer service

Liberty Mutual is the third largest property and casualty insurer in the U.S., and you can buy life insurance at Liberty Mutual as well.

But why is life insurance so expensive? And how much do Liberty Mutual rates cost?

Our Liberty Mutual life insurance guide explores everything you need to know about what products are available, how much Liberty Mutual life insurance costs, and the company’s third-party ratings.

Why stop at Liberty Mutual life insurance? Enter your ZIP code in our free online tool above to compare the best companies in your area.

About Liberty Mutual

Liberty Mutual was founded in 1912, in Boston, Massachusetts. Liberty Mutual is a fairly large company and has over 45,000 employees.

Along with providing life insurance options, Liberty Mutual also offers many different types of insurance including auto insurance, property insurance, pet insurance, small business insurance, and identity theft insurance.

The Liberty Mutual insurance phone number is 1-800-290-8711, but the fastest way to reach them is by using your Liberty Mutual login online.

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What are Liberty Mutual’s life insurance plans?

Liberty Mutual offers term life insurance, whole life insurance, and universal life insurance.

Liberty Mutual also offers guaranteed policy conversion, which allows you to convert your term life policy to a permanent policy at the end of the term period. This means that if you decide you want a permanent policy later on, you won’t have to go through the underwriting process again.

Liberty Mutual’s guaranteed policy conversion is simple and perfect for individuals who are unsure about what kind of coverage they’ll want in the future.

Are riders available?

Liberty Mutual has a decent amount of riders available for both term life insurance and whole life insurance policies. Here is a list of some of the riders you can add to your policy:

  • Accidental death and dismemberment rider
  • Disability waiver rider
  • Accelerated death benefit rider
  • Guaranteed insurability rider
  • Child protection rider

Liberty Mutual’s selection of riders can help you build a customized policy that suits your individual needs.

How much is Liberty Mutual life insurance?

Liberty Mutual life insurance quotes will vary depending on your health, age, gender, and coverage amount.

Let’s review a few sample rates for a healthy non-smoking male with a $500,000 20-year term policy compared with the industry average.

Liberty Mutual Life Insurance Rates

AgeLiberty Mutual AverageIndustry Average
20s$34.20$28.02
30s$42.75$32.06
40s$80.55$60.97
50s$241.20$152.00
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Liberty Mutual is generally more expensive than the industry average. However, you can get affordable Liberty Mutual life insurance if you buy a term policy with a lower coverage amount.

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What other types of coverage are available?

Liberty Mutual offers standard car insurance coverage options such as liability, collision, comprehensive, and uninsured motorist coverage. It also offers some unique add-ons such as:

  • Roadside assistance: 24/7 roadside assistance will help you pay for towing, battery replacement, fuel delivery, and more.
  • Accident forgiveness: If you’re accident-free for five years, this coverage keeps your rate from increasing after your first accident.
  • Lifetime repair guarantee: The company can arrange repairs and guarantee them for as long as you own the vehicle.
  • New car replacement: If your new vehicle has less than 15,000 miles, the company will fund a brand new vehicle.
  • Better car replacement: For older, totaled vehicles, the insurer will give you cash to buy a newer car model with fewer miles.
  • Rental car reimbursement: If your vehicle is damaged in a car accident, the company will pay for a rental car while your car is being repaired.
  • Original parts replacement: This coverage lets you replace damaged car parts that are original from the manufacturer, or estimated to be of comparable value
  • Deductible fund: You can pay an extra $30 on your annual premium to lower your deductible
  • GAP insurance: The insurer will cover the difference if your totaled vehicle’s replacement value is lower than what you owe on a loan/lease.

Liberty Mutual offers a variety of discounts such as personal discounts for homeowners, veterans, good students, students living away from school; vehicle discounts for safety features; driving discounts for a safe driving record; policy discounts for policyholders who own multiple policies, those who pay upfront, buy online or sign up for a paperless policy, or make automatic payments.

Liberty Mutual homeowners policies provide standard coverage for your dwelling, personal property, liability, and additional living expenses.

Does Liberty Mutual have good reviews?

Liberty Mutual has very high third-party ratings. A.M. Best gives Liberty Mutual an “A” rating, and the Better Business Bureau gives Liberty Mutual an “A+” rating.

J.D. Power also reported that Liberty Mutual has outstanding customer service. However, Liberty Mutual has received a fair amount of customer complaints.

What are Liberty Mutual life insurance pros and cons?

Although Liberty Mutual is a reputable company with good reviews, there are some downsides to Liberty Mutual life insurance.

Let’s review some of the main advantages and disadvantages of buying Liberty Mutual life insurance.

Liberty Mutual Pros and Cons

ProsCons
High third-party ratingsHigher rates than the industry average
Guaranteed convertible policyPolicy cancellations can only be done over the phone
Good amount of riders availableReceives more complaints than average
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Liberty Mutual has high ratings and an abundance of riders you can use to customize your policy. Liberty Mutual’s rates are higher than the industry average, but your rates will vary depending on your age, gender, and coverage amount.

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How do I cancel my Liberty Mutual life insurance policy?

The process to cancel a life insurance policy with Liberty Mutual varies depending on what state you live in, and you may have to pay a cancellation fee.

While Liberty Mutual allows you to manage your policy online, the only way you can cancel your policy is through the phone.

You can cancel your policy by calling the Liberty Mutual customer service number at 1-800-290-8711 and the representative will walk you through the process of canceling your policy.

Liberty Mutual life insurance company: What’s the bottom line?

Liberty Mutual life insurance rates are more expensive than the industry average.

While Liberty Mutual has received a sizeable amount of complaints, it has high third-party ratings and great customer service.

Liberty Mutual offers a good amount of riders and allows you to convert a term policy to a permanent policy, making Liberty Mutual a great option for those who want to customize their policy or modify it at a later time.

Not sure if Liberty Mutual is the right fit for you? Use our free tool below to compare the best companies in your area.