Freedom Life Insurance

Freedom Life Insurance

A reasonably priced 10-year renewable term life insurance coverage is provided by Freedom Life Insurance. Although there are no riders or perks associated with the life insurance policy, it can be paired with other USHEALTH Group products such as health, disability, dental, and vision insurance, as well as accident and illness coverage.

Advantages of Freedom Life Insurance

  • Easy cancellation: Just cease making monthly premium payments if you need to cancel. Because a term life insurance policy has no cash value, it can be canceled without a paperwork or phone call.
  • Freedom Life provides a 10-year term life insurance policy with renewable coverage up to age 70. Once the ten years have passed, you can renew the policy year until you turn 70 or decide you no longer require coverage.
  • Outstanding financial stability: Freedom Life is supported by billions of dollars in assets through its parent firm, USHEALTH Group, Inc., so it can easily pay claims when the time comes.
  • Simple pricing structure: $10 is the starting price for coverage, which goes up by $5 per month to a maximum of $50 per month.

Disadvantages of Freedom Life Insurance

  • Lack of transparency in coverage: Although pricing is readily available, it might be challenging to locate the specific coverage amounts offered at each price point. You must speak with a certified USHealth Advisors agent in order to obtain a quote.
  • Not available in all states: Freedom isn’t offered in every state if you’re looking for life insurance. It will be necessary to look elsewhere for residents of California, the District of Columbia, Hawaii, Idaho, Massachusetts, Maine, Montana, New Hampshire, New York, New Jersey, North Dakota, Rhode Island, Vermont, Wisconsin, and the U.S. territories.
  • No riders or benefits available: Freedom Life does not provide riders or add-on benefits, such as an expedited death benefit, as other life insurance providers do.
  • One and only option: A 10-year term life insurance policy is the only way to get coverage via Freedom Life.
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Types of Life Insurance Freedom Life Insurance Offer

All that Freedom Life provides is term life insurance for ten years, renewable to age seventy.

The LifeProtector 10-year renewable term life insurance policy is the sole kind of life insurance that Freedom Life Insurance offers. After the initial ten years, the rate is fixed and will not change until you either terminate the policy or reach the age of seventy-nine.

Someone who might not be in the finest of health and is looking for inexpensive temporary coverage. Freedom Life, a USHEALTH Group affiliate, provides group rates at a reasonable price following the completion of a few brief health questionnaires.

Life Insurance Policy Is Key to Financial Freedom

Financial planning is significantly more than just increasing money; it also involves properly controlling risks. There are various savings mechanisms available, but life insurance is the most important for managing financial risks and navigating uncertainty. While most Indians have been taught to invest in secure products like fixed deposits, it is critical to understand why a life insurance policy is the key to financial freedom.

Purchasing a whole Freedom life insurance policy is an important financial choice that one must make during their adult life. You must invest in life insurance, particularly if you are the primary breadwinner in your family. This provides financial protection for your family and allows them to keep their standard of living. Life insurance policies can be acquired with monthly or yearly premiums, and they will insure you against death, and life-threatening conditions, and can even provide an appropriate payment plan after retirement.

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The other alternative is to get single-premium Freedom life insurance. It’s a single premium endowment plan that also serves as a protection plan. A lump sum is paid at the beginning of the policy. This can provide both death protection and financial support once the insurance expires.

Riders Available

The majority of life insurance providers provide insurance endorsements or riders. You can improve or alter your coverage using riders. You can obtain extra coverage, early benefit access under specific conditions, and coverage for your spouse or children by adding a rider to your policy.

Sadly, insurance riders are not provided by Freedom Life Insurance Company. Its term life insurance plan is one-size-fits-all; there is no way to alter it beyond its basic coverage.

Customer Support

The online consumer resources offered by USHealth Group and Freedom Life Insurance are restricted. The website does not provide an automated quotation, and Freedom Life does not provide the online chat feature or life insurance calculators that several other firms do.

You can reach customer service by phone at 1-866-722-8744 or by email at info@ushealthgroup.com. Nevertheless, its representatives are not always readily available. Only Monday through Friday from 7:00 a.m. to 7:00 p.m. CT and on Saturday from 8:00 a.m. to 1:00 p.m. CT is customer support available.

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Summary Of Freedom Life Insurance

USHEALTH Group, Inc. is a Fort Worth, Texas-based company that was founded in 1982. The company offers voluntary or supplemental benefit policies through its subsidiaries, Freedom Life Insurance Company of America, National Foundation Life Insurance Company, and Enterprise Life Insurance Company.

The company is best known for its health insurance products, which are sold through USHEALTH Advisor agents. Term life insurance, accident, sickness, disability, dental, vision, income protection, and critical illness plans are all provided by USHEALTH through its subsidiaries.

After experiencing early success, the company was on the verge of going bankrupt because of low sales until President and CEO Troy McQuagge took over. When McQuagge was appointed CEO of USHEALTH Group, Inc. in 2014, his reputation as a man capable of bringing about amazing turnarounds for failing companies was put to the test.

The company has experienced multi-year sales records and a 25.3% 10-year compound annual growth rate under his direction. Less than ten years after McQuagge took office as president, in 2019, USHEALTH had yearly revenues of $1 billion or more. On behalf of USHEALTH Group, Inc., McQuagge was given the 2020 Gold Lifetime Achievement Stevie Award in recognition of his achievements.

Conclusion

With just one type of life policy—a 10-year term that may be renewed yearly until you turn 70—and coverage based on incremental premium amounts ranging from $10 to $50, Freedom Life Insurance offers applicants an easy choice. Financially sound USHEALTH Group, Inc. is the parent company of Freedom Life.

There are no riders or benefits, such as an accelerated death benefit, available with the LifeProtector insurance policy. Only quotes obtained by USHEALTH Advisors are accepted. The rates are not comparable to fully underwritten life insurance policies because this is a no-exam alternative. You will need to explore elsewhere for life insurance coverage if you require bigger face amounts or longer-term coverage.

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