Liberty Life Insurance
Liberty Life Insurance Company is a wholly owned subsidiary of RBC Insurance Holdings in the USA, which in turn is the Insurance Division of the Royal Bank of Canada (RBC), which is the ultimate parent. In the United States, RBC and Liberty Life are headquartered in Greenville, South Carolina. Liberty Life Insurance Company incorporated on November 3rd, 1905, and opened for business on January 1st, 1906. As of 2005, Liberty Life was ranked 86th in total life insurance issued, according to A.M. Best's ranking of top U.S. life insurers published that year. As of the final day of 2007, Liberty Life Insurance Company has assets totaling approximately $3.7 billion. RBC had assets of US$478.1 billion as of October 31, 2006, and in March of 2007 "Forbes" magazine ranked RBC as the 44th largest corporation globally in total assets. RBC Insurance provides a vast array of insurance products including life, health, travel, home, auto, and reinsurance. The company additionally provides creditor insurance services for over 5 million clients in Canada, the U.S., and around the world. Its Liberty Life Insurance Company provides a wide, diversified array of insurance protection and wealth accumulation products including life and health insurance, annuities, and investments to consumers by way of RBC banking and investment channels, regional as well as independent broker dealers, national marketing organizations and direct marketing channels, the Internet, and a field force of approximately 300 full-time financial advisors. It was in the early 1990s that Liberty Life became one of the first life insurance companies to see the enormous potential for marketing life insurance in financial institutions and began approaching successful bankers to see how they wanted to do business together with them. Liberty then designed a brand new life insurance product with a simplified issue process (Liberty Life's Estate Maximizer Single Payment Whole Life policy) so that bank representatives could open and close a life insurance sale in less than 15 minutes right from their bank office, and transform banking customers into life insurance clients as well. By 1997, Liberty Life was the leader in non-credit life premiums in banks, and today they are still among the leaders. Since that time, the partnering or merging of banking services firms with insurance and investment companies has taken off like a wildfire and become the new industry norm for all larger-sized life insurance companies. Liberty Life's defines its business philosophy as the delivery of "high value", making life insurance and other financial products easy to buy while keeping the company and its agents easy to do business with. Committed to a customer-centered marketing approach, they develop their distribution plans and their products are created at the same time. While keeping their life insurance portfolio as varied and cost competitive as possible, the company goes out of its way to develop life insurance products intended to simplify the sales process. Liberty Life's bank insurance unit works solely in the banking channel and houses all the services that Liberty needs to sell to and service both customers and representatives. A cadre of wholesalers assigned to specific banks provides on-site assistance and training support. The company also maintains security for its customers and partners through a disciplined investment approach which includes forward-looking cash flow planning and high quality investments of premiums to ensure product performance and the company's claims paying ability within its annuities and life insurance policies. Liberty Life Insurance has been given an A (Excellent) rating by independent financial institution rating firm A.M. Best. Liberty Life Insurance Company is licensed in every state except New York; the company also doesn't write business in the District of Columbia. FindLifeQuotes was designed to give you one simple form to fill out in order to save you time. |
