A life insurance policy called Liberty Bankers Burial Insurance assists in covering funeral and burial costs.
It is a sort of “last expense” insurance since it assists people and their families in making financial and planning arrangements for funeral and burial costs.
To accommodate the needs of varied people, Liberty Bankers Burial Insurance offers a range of policy options, including term and permanent coverage.
In this study, we’ll look into Liberty Bankers Burial Insurance’s features and advantages and give a quick rundown of the business’s financial health and customer satisfaction scores.
Who Is Liberty Bankers Life Insurance
A life insurance company called Liberty Bankers Life Insurance Company provides individuals and families with a variety of insurance products, including burial insurance.
The corporation was founded in 1950 and has its headquarters in Dallas, Texas.
A significant provider of life, supplementary, and health insurance products, Liberty National Life Insurance Company is the parent company of Liberty Bankers Life Insurance.
People who live in more than 40 states can purchase insurance with Liberty Bankers Life Insurance.
The business also provides annuities, Medicare supplement insurance, whole life insurance, term life insurance, and universal life insurance in addition to burial insurance.
How Do I Reach Liberty Bankers Life
Liberty Bankers Life Insurance may be reached at 1-800-331-2512. The hours of operation for this number are 8:00 a.m. to 5:00 p.m. Central Time, Monday through Friday.
Call this number to talk with a representative if you are a Liberty Bankers Life Insurance policyholder and have inquiries about your coverage or need to file a claim.
As an alternative, you can use the contact form on the company’s website, www.libertybankerslife.com, to get in touch with the customer support department.
Additionally, you may get in touch with Liberty Bankers Life Insurance via social media sites like Facebook and Twitter.
What Are Liberty Bankers Life Burial Insurance Rates
To fulfil the needs of various people, Liberty Bankers Life Insurance offers burial insurance policies with different levels of coverage.
Numerous factors will affect these insurance’ costs. For instance, the policy’s coverage amount, the policyholder’s age, and the state in which they reside.
In general, elderly people and those with pre-existing medical conditions pay more for funeral insurance. Additionally, premiums for insurance with greater levels of coverage may be higher.
The cost of burial insurance can vary depending on the company you select. The best course of action is to compare prices from several businesses.
Here are some illustrative rates for both men and women.
What Are The Rate Classes For Liberty Bankers Life Burial Insurance
Liberty The premium for a burial insurance policy is calculated by Bankers Burial Insurance using rate classes.
Insurance firms classify policyholders into rate classes based on how much risky they believe they are.
The cost of a person’s burial insurance coverage will depend on the class they are in.
The specific rate classes offered by Liberty Bankers Burial Insurance may vary. There are often multiple rate classes available for burial insurance policies.
For burial insurance, some typical pricing classes include:
- Preferred: This rate class is the finest. It is just for really healthy, low-risk individuals.
- Standard: This rate category applies to people who, although having a few health difficulties, are generally in a good state of health.
- Modified: People with serious health conditions or other risk factors are assigned to this rate class.
Liberty Bankers Burial Insurance Underwriting Questions
For its burial insurance products, Liberty Bankers Life Insurance Company has an underwriting procedure and standards.
The practise of underwriting is used by insurance firms to evaluate the risk of covering a certain person and establish the terms and conditions of an insurance policy.
The variables that the firm takes into account while underwriting a policy, such as the applicant’s age, gender, health history, and lifestyle, are listed in the underwriting guide for Liberty Bankers Burial Insurance.
This document also describes the different health issues and risk factors that may require someone to pay a higher premium or not be eligible for coverage at all.
There are three parts to the underwriting questions: Part 1, Part 2, and Part 3.
Part 1 Have you ever had a medical professional diagnose you, treat you, test you positively for, or offer you medical advice for any of the following conditions:
1. Congestive heart failure (CHF), cardiomyopathy, memory loss, Alzheimer’s, senile dementia, dementia, implantable heart defibrillator, two or more cases of internal cancer(s), or terminal illness (terminal illness is defined as a disease or illness that is expected to cause death within 24 months)?
Amputation due to diabetic complications, multiple sclerosis, muscular dystrophy, mental retardation, amyotrophic lateral sclerosis (ALS) or Lou Gehrig’s disease, Down syndrome, cystic fibrosis, or Huntington’s disease?
2. Organ transplant (other than corneal), untreated Hepatitis C, kidney failure or dialysis?
3. Diabetes before the age of nine?
4. AIDS, AIDS Related Complex, HIV testing positive, or any other immune system disorder?
Have you undergone treatment, received a positive test result, received medical advice, or received a diagnosis for any of the following during the last two years?
5. Uncontrolled high blood pressure or uncontrolled diabetes?
Have you: in the past year
6. Had a medical professional prescribe bed rest for you at home, in a nursing home, hospice, long-term care facility, or assisted living facility? 7. Had a medical professional advise you to undergo surgery or hospitalisation? 8. Had to use oxygen due to a medical condition? The definition of assisted living is: requiring assistance in at least one area of abilities deemed required for daily life and self-care (feeding, dressing, or bathing)
Any affirmative responses in Part 1 will cause a drop.
Have you received a diagnosis, treatment, positive test result, or medical advice from a medical professional during the last two years for any of the following conditions?
(a)A heart attack, any kind of heart or circulation surgery, angina, or getting a pacemaker or stent, to name a few.
(b) Paralysis, transient ischemic attack (TIA), or stroke?
(c) Basal cell skin cancer is not included in the definition of “cancer,” which also includes melanoma. Have you ever had cancer or been advised to get chemotherapy or radiation treatment for cancer?
(d) Brain tumour, sickle cell disease, or aneurysm?
(e) Diabetes complications such as diabetic shock or nephropathy (kidney), neuropathy (nerve, circulatory), or retinopathy (eye)?
(f) Do you use illegal drugs, have a criminal record, or are you currently on parole?
(g) Due to a chronic sickness or disease, did you utilise a walker, wheelchair, or electric scooter?
***If any of the Part 2 questions are answered YES, the answer will be changed.
Have you ever received medical advice or been offered a diagnosis, treatment, test result, or treatment from a medical professional for:
(a) Peripheral vascular disease, peripheral artery disease, chronic bronchitis, emphysema, or chronic obstructive pulmonary disease (COPD)?
(b) Liver disease, kidney disease, cirrhosis of the liver, chronic pancreatitis, chronic hepatitis, or Hepatitis C?
Insulin usage before to the age of 25?
(d) Parkinson’s illness, epilepsy, atrial fibrillation, systemic lupus erythematosus (SLE), irregular heartbeat?
You may learn more about several types of insurance options, like as term and permanent coverage, in the underwriting guide for Liberty Bankers Burial Insurance. This is the least expensive class and is just for really healthy, low-risk individuals.
The underwriting guidance should be reviewed by anyone who want to purchase a burial insurance policy from Liberty Bankers. This manual contains information on the insurance and factors that could affect the cost of the policy.
Royal Neighbors of America is an excellent carrier if you want to have a permissive underwriting policy.
Liberty Bankers Life A.M. Best Rating
As of today, December 30, 2022, Liberty Bankers Life has a stable outlook and an A- (Excellent) rating.
Their confirmed and steady long-term issuer credit is another positive.
This is their most recent upgrade’s press release. Dated in June 2021.