Liberty Bankers at a Glance: Rates, Products and Reviews

Liberty Bankers, originally founded as American Benefit Life in 1909, offers a variety of annuities, including fixed index, deferred and immediate options. With a strong financial track record and an A- rating from AM Best, the company’s products cater to investors seeking security and flexibility for retirement planning.

Liberty Bankers was founded in 1909 as American Benefit Life, Oklahoma’s first chartered life insurance company. The company was acquired by Liberty Bankers in 2002 and is now headquartered in Texas.

Liberty Bankers offers various types of annuities, life insurance and Medicare supplemental insurance. Its long history and strong financial position make it a reliable provider for retirement planning solutions.

The company is known for offering fixed, index and immediate annuities, backed by its solid reputation and financial stability.

Liberty Bankers offers four types of annuity products in three different series including Bankers Premier, Bankers and Bankers Elite. They also offer single premium immediate annuities, otherwise known as SPIAs.

The Bankers and Bankers Premier series offer three-, five- and seven-year term options, with a minimum initial premium of $10,000. Surrender charges for early withdrawals generally expire the year after the term ends. The Bankers 7 features a two-tiered surrender charge schedule, offering reduced charges for individuals aged 56 and older.

There are no initial sales charges or annual administrative fees.

Available payout options include life-only, life with a 10-year certain period, fixed period payments and other customizable choices.

The Bankers Elite series is a flexible, single-premium deferred annuity designed to meet various retirement objectives. This series offers four products with terms of three, five, seven and nine years, each requiring a minimum initial premium of $10,000.

The maximum age limits for purchasing a Bankers Elite annuity are as follows: up to 90 years old for the Bankers Elite 3 and 5, up to 85 years old for the Bankers Elite 7 and up to 80 years old for the Bankers Elite 9.

The Bankers Elite annuities offer flexibility with no up-front sales charges or annual administrative fees. You can defer taxes until the term ends, and enjoy 100% liquidity once the term is complete. There are no automatic renewals of surrender charges, giving you greater control.

These annuities can also be used as an IRA, offering an attractive alternative to certificates of deposit (CDs) and making them ideal for individuals planning for a secure retirement.

Liberty Bankers offers single premium immediate annuities (SPIAs), which convert a one-time premium payment into an income stream that begins within 12 months of purchase. The minimum premium for these annuities is $25,000.

There are several payout options available, including guaranteed lifetime payouts, which provide income for the annuitant’s lifetime and term certain payouts, which pay out the total value of the annuity over a set period of five to 30 years. Additionally, there is the option of a life with term certain payout, which continues payments for the annuitant’s life or until the end of a fixed term, whichever lasts longer. This option is available with terms of five, 10, 15 or 20 years.

Liberty Bankers’ SPIAs offer flexible income solutions tailored to meet various retirement needs.

Liberty Bankers annuities come with a range of features and benefits designed to offer security and flexibility.

Liberty Bankers strives to minimize fees associated with its annuities.

Most of Liberty Bankers annuities do not have account fees, but an annual policy fee may apply. Withdrawals that do not meet the penalty-free criteria may be subject to surrender charges, which decrease over time as the annuity contract ages.

Liberty Bankers can be reached by phone at 800-745-4927 or by email at AnnuityService@lbig.com.

With $2.68 billion in assets and a 114.22% assets-to-liability ratio, Liberty Bankers demonstrates strong financial health. The company has earned an A- rating from AM Best, reflecting its ability to meet financial obligations. Liberty Bankers also maintains a lower complaint ratio compared to the industry average.

Liberty Bankers’ annuities may appeal to individuals seeking fixed products, health waiver benefits and low fees. With a variety of terms and high issue age limits, Liberty Bankers offers flexibility and security for retirement planning. However, those interested in variable annuities may need to explore other options.

When choosing an annuity, consider your personal goals and financial situation. A financial advisor can assist you in making the best choice for your needs.

Editor Norah Layne contributed to this article.