Liberty Bankers Life Insurance Company

Liberty Bankers Life Insurance Company, referred to as Liberty Bankers Life, is a leading annuity provider in the United States. The company issues traditional fixed annuities, single premium immediate annuities (SPIA) and multi-year guaranteed annuities (MYGA).

Sheena Zimmermann, Financial Writer for
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    Sheena Zimmermann, M.Ed.

    Sheena Zimmermann, M.Ed.

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    As a professional who values lifelong learning, Sheena Zimmermann joined the team with a deep commitment to connecting readers with resources designed to improve their financial literacy and strengthen their financial health.

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  • Updated: January 17, 2023
  • 4 min read time
  • This page features 6 Cited Research Articles
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APA Zimmermann, S. (2023, January 17). Liberty Bankers Life Insurance Company. Retrieved January 31, 2023, from

MLA Zimmermann, Sheena. "Liberty Bankers Life Insurance Company.", 17 Jan 2023,

Chicago Zimmermann, Sheena. "Liberty Bankers Life Insurance Company." Last modified January 17, 2023.

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Why You Can Trust has provided reliable, accurate financial information to consumers since 2013. We adhere to ethical journalism practices, including presenting honest, unbiased information that follows Associated Press style guidelines and reporting facts from reliable, attributed sources. Our objective is to deliver the most comprehensive explanation of annuities and financial literacy topics using plain, straightforward language.

Our Partnerships, Vision and Goals

We pride ourselves on partnering with professionals like those from Senior Market Sales (SMS) — a market leader with over 30 years of experience in the insurance industry — who offer personalized retirement solutions for consumers across the country. Our relationships with partners including SMS and Insuractive, the company’s consumer-facing branch, allow us to facilitate the sale of annuities and other retirement-oriented financial products to consumers who are looking to purchase safe and reliable solutions to fill gaps in their retirement income. We are compensated when we produce legitimate inquiries, and that compensation helps make an even stronger resource for our audience. We may also, at times, sell lead data to partners in our network in order to best connect consumers to the information they request. Readers are in no way obligated to use our partners’ services to access the free resources on carefully selects partners who share a common goal of educating consumers and helping them select the most appropriate product for their unique financial and lifestyle goals. Our network of advisors will never recommend products that are not right for the consumer, nor will Additionally, operates independently of its partners and has complete editorial control over the information we publish.

Our vision is to provide users with the highest quality information possible about their financial options and empower them to make informed decisions based on their unique needs.

Liberty Bankers Insurance Group LogoWith over $3 billion in total assets going into 2022, Liberty Bankers Life offers financial solutions in the areas of retirement, health and life. Liberty Bankers Life is an affiliate entity of Liberty Bankers Insurance Group.

Liberty Bankers Life issues annuities and life insurance products in 47 states. In addition to these products, Liberty Bankers Life provides Medicare supplemental insurance and supplemental health coverage.

About Liberty Bankers Life

Pilgrim Life Insurance Company of America originally incorporated Liberty Bankers Life under the name Royal Oak Life Insurance Company in 1958.

The annuity provider has experienced steady growth over the years, now offering Medicare Supplement, critical illness and accident products.

This growth was accomplished through mergers and acquisitions with affiliates, including the following companies:
  • American Benefit Life
  • Winfield Life
  • Capitol Life
  • Continental Life

“We continually strive to deliver impeccable service and products, because there’s nothing more important to us than safeguarding our customers’ financial futures,” said Bradford A. Phillips, president and CEO of Liberty Bankers Insurance Group. “We ensure this commitment with a focus on investment diversification, a strategy that has more than tripled our portfolio in the last 10 years.”

Existing Liberty Bankers policyholders can reach out to the company through their support line:

Credit Ratings

AM Best, one of the leading credit agencies, most recently upgraded the credit ratings of Liberty Bankers Life Insurance and its subsidiaries in 2021.

The Financial Strength Rating and the Long-Term Issuer Credit Ratings were upgraded from B++ (Good) to A- (Excellent), according to an AM Best Information Services press release. An A- credit rating is the fourth highest out of 16 rating categories from AM Best.

Credit ratings are scores assigned by independent agencies to represent the financial stability of insurance companies. The higher the rating, the higher the likelihood that the company can cover future financial obligations.

“The ratings reflect Liberty Bankers Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM),” the press release said.

Liberty Bankers Insurance Group Financial Strength Rating
Credit Rating
AM Best:A-

Annuities Offered by Liberty Bankers Life

Liberty Bankers Life offers three types of annuities: traditional fixed, single premium immediate and multi-year guaranteed annuities. Annuity rates vary by product, and availability may vary by state.

Traditional Fixed Annuities

Liberty Bankers Life issues traditional fixed annuities with a guaranteed interest rate. Under this category, consumers can choose between two products with different periods for penalty-free withdrawals. You can also choose whether to pay for your annuity all at once or in installments.

Traditional fixed annuity options include:
  • Liberty Choice
  • Liberty Select

Single Premium Immediate Annuity (SPIA)

Liberty Bankers Life’s SPIA products can provide regular income payments immediately after you pay the premium. You choose from four payment schedules: monthly, quarterly, semi-annually or annually.

Available SPIA products include:
  • 5 Year Term Certain
  • 10 Year Term Certain
  • Life Only Male 65

Multi-Year Guaranteed Annuities (MYGA)

MYGA products are fixed annuities with an interest rate that is guaranteed over a set timeframe. Annuity products in this category include:

  • Bankers 3
  • Bankers 5
  • Bankers 7
  • Bankers Elite 3
  • Bankers Elite 5
  • Bankers Elite 7
  • Bankers Elite 9
  • Bankers 5 Premier
  • Bankers 7 Premier
  • Bankers 5 Premier Plus
Interested in Buying an Annuity?
Learn about the different types of annuities and find out which one is right for you.

Client Resources

Clients can access annuity and Medicare coverage tips through the Liberty Bankers Life resources webpage. The company’s website also features frequently asked questions with answers for annuity buyers.

The Liberty Bankers Life website offers helpful, downloadable forms for policyholders, including:
  • Service request forms for address changes
  • Annuity distribution forms
  • Life service forms for beneficiary changes
If you have an annuity with Liberty Bankers Life, you can log into your account at:


About has provided reliable, accurate and trustworthy financial information to readers since 2013. We partner with professionals like those from Senior Market Sales (SMS), a market leader with over 30 years of experience in the insurance industry, to offer personalized retirement solutions for consumers across the country.

Any information offered about the company above is provided free of charge and individual product offerings are verified and accurate as of publication.

Our partners work with the provider companies mentioned on our site. However, is not a service provider. Actual products, terms and rates offered through the above company are subject to in-state availability and a variety of other factors. Visit the Our Partners page for additional information.

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Please seek the advice of a qualified professional before making financial decisions.
Last Modified: January 17, 2023

6 Cited Research Articles writers adhere to strict sourcing guidelines and use only credible sources of information, including authoritative financial publications, academic organizations, peer-reviewed journals, highly regarded nonprofit organizations, government reports, court records and interviews with qualified experts. You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines.

  1. AM Best Information Services. (2021, July 29). AM Best Upgrades Credit Ratings of Liberty Bankers Life Insurance Company and Its Subsidiaries. Retrieved from
  2. Liberty Bankers Insurance Group. (n.d.). Annuities. Retrieved from
  3. Liberty Bankers Insurance Group. (n.d.). Company Affiliates. Retrieved from
  4. Liberty Bankers Insurance Group. (2021). Financial Summary. Retrieved from
  5. Liberty Bankers Insurance Group. (n.d.). President’s Message. Retrieved from
  6. Liberty Bankers Insurance Group. (n.d.). Resources. Retrieved from