Is Liberty Bankers Life a good annuity company?
Yes, for buyers who value liquidity as much as rate. AM Best rates Liberty Bankers Life Insurance Company A- (Excellent), and the carrier backs that with $2.68 billion in total assets and a record operating income in 2024. What sets it apart is not just the rating, it is the Heritage Premier MYGA's built-in waivers for nursing home confinement, terminal illness, disability and everyday living-activity limits, features many carriers only sell as a paid rider, if they offer them at all. If A- meets your bar and you want a nine-year MYGA option or health-triggered access to your funds, Liberty Bankers deserves a quote.
Liberty Bankers Life at a glance
| Legal name | Liberty Bankers Life Insurance Company |
|---|---|
| Founded | 1958; domiciled in Oklahoma |
| Headquarters | Dallas, Texas |
| Parent company | Liberty Bankers Insurance Group (privately held) |
| AM Best rating | A- (Excellent) |
| Total assets | $2.68 billion (2024) |
| What it sells | MYGAs (Heritage Premier, Bankers Elite) and a single premium immediate annuity |
| State availability | 46 to 47 states; not New York |
Where Liberty Bankers Life sits on the AM Best scale
A- is grade 4 of 13. Most buyers look for A- or better for a long-term contract.
- A++
- A+
- A
- A-Liberty Bankers Life
- B++
- B+
- B
- B-
- C++
- C+
- C
- C-
- D
Today's rates for Liberty Bankers Life
Rates change often and vary by state, term and deposit size. Get today's numbers for your state, side by side with other top-rated carriers. Free, with no obligation.
Liberty Bankers Life's background and financial strength
Liberty Bankers Life operates under Liberty Bankers Insurance Group, a privately held holding company based in Dallas. The carrier itself was chartered in 1958 and is domiciled in Oklahoma. Recent numbers show real momentum: $2.68 billion in total assets and a record $37.5 million of operating income in 2024, with an assets-to-liabilities ratio above 114%, meaning the company holds more in assets than it needs to cover its reserve obligations.
AM Best rates the carrier A- (Excellent). That places Liberty Bankers in the same broad tier as many well-known MYGA carriers, even though it remains privately held and is not covered by S&P, Moody's or Fitch. If you rely on more than one agency's opinion before buying, that gap is worth noting; otherwise, confirm the current rating directly at ambest.com before you commit funds.
Liberty Bankers Life's financial strength ratings
| Rating agency | Rating | What it means |
|---|---|---|
| AM Best | A- | Excellent |
| S&P Global | Not rated | |
| Moody's | Not rated | |
| Fitch | Not rated |
An A- rating clears the "excellent or better" threshold many buyers use as a floor. If your personal rule is stricter than that, or if you want a second agency's confirmation, weigh that against the product features below before deciding.
That single-agency profile is common among carriers owned by a holding group rather than traded publicly, since a public listing tends to come with pressure from analysts and investors to seek out multiple ratings. It does not by itself say anything negative about the carrier's financial position; it just means a shopper who wants two or three independent opinions before committing will have to look elsewhere for that second data point.
What annuities does Liberty Bankers Life sell?
- Heritage Premier MYGA, offered in 3, 5, 7 and 9-year terms with a $10,000 minimum deposit ($5,000 for an IRA). Its standout feature is the built-in health waiver package described above, letting you access funds penalty-free after a qualifying health event. It is also built to accommodate required minimum distributions.
- Bankers Elite MYGA, also available in 3, 5, 7 and 9-year terms at the same minimums, but designed purely for accumulation. There is no free withdrawal provision of any kind during the guarantee period, and it is not sold in Alabama, Delaware or New York.
- A single premium immediate annuity, requiring a $25,000 minimum, with a choice of payout structures for buyers who want income to start right away.
Because rates on these products move frequently, we do not publish specific numbers here. The rate box on this page will show current terms for your state and deposit amount.
Worth noting: the two MYGA lines are really built for two different mindsets. Heritage Premier is priced with the health waivers baked in, so part of what you would otherwise earn in rate goes toward funding that protection. Bankers Elite strips that protection out entirely, which typically lets it price a bit higher for the same term and deposit. Neither approach is wrong; it comes down to whether you would rather carry a built-in safety net or squeeze out a slightly stronger guaranteed return.
Who is Liberty Bankers Life best for?
- Buyers who want protection tied to a health event, not just a standard annual withdrawal allowance. Heritage Premier's waivers cover scenarios like a nursing home stay or a disabling injury that a plain 10% free withdrawal would not necessarily anticipate.
- IRA owners past age 73 who need their required distributions to flow without triggering a surrender charge.
- Buyers targeting a longer lock-in, since the 9-year term is uncommon in the MYGA market and tends to be priced competitively.
- Buyers who are certain they will hold to maturity and simply want the strongest possible rate, a profile that fits Bankers Elite well given its lack of any withdrawal feature.
This carrier is not available if you live in New York, and Bankers Elite specifically also excludes Alabama and Delaware. If you expect to need routine annual access to a portion of your money rather than access tied to a health event, compare Heritage Premier's structure carefully against a standard 10%-per-year MYGA before choosing.
Other annuity companies to consider
- Sagicor: another carrier worth comparing on MYGA terms and issue-age flexibility
- American Gulf: a further option in the same competitive rate tier
- Gainbridge: a direct-to-consumer alternative for MYGA shoppers
Pros and cons
Pros
- A- (Excellent) rating from AM Best
- Heritage Premier bundles nursing home, terminal illness, disability and daily-living waivers at no added cost
- A nine-year MYGA term, longer than what many competitors offer
- Heritage Premier accommodates required minimum distributions without a surrender charge
- Maximum issue age of 90 welcomes older buyers
- Posted a record operating income in 2024 on a healthy asset-to-liability position
Cons
- Bankers Elite carries no free withdrawal provision at all during the guarantee period
- Not available to New York residents
- AM Best is the only agency that rates the company; there is no S&P, Moody's or Fitch opinion
- The single premium immediate annuity requires a $25,000 minimum, higher than some competitors
- As a privately held company, it publishes less financial detail than a stock insurer would
Frequently asked questions
What are the Liberty Bankers Life health waivers?
Heritage Premier includes four waivers built into the base contract at no extra charge: confinement to a nursing home, a terminal illness diagnosis, disability, and difficulty performing everyday activities of daily living. Once you clear the first 30 days of the contract and meet one of those conditions, you can withdraw 10% of your account value in year one or 50% in later years without a surrender charge. These are health-based triggers, not the routine calendar-year withdrawal right that most MYGAs offer instead.
How is Heritage Premier different from Bankers Elite?
Liquidity is the dividing line. The health waivers, RMD-friendly design and interest-only withdrawals all sit on Heritage Premier; Bankers Elite drops every one of those features and locks your money down completely until maturity. In exchange, Bankers Elite typically prices a bit higher than Heritage Premier for a matching term. Someone dead set on holding to maturity will usually prefer Bankers Elite's edge in rate; someone who wants a cushion should stick with Heritage Premier.
How do I buy a Liberty Bankers Life annuity?
You can only get one through a licensed independent agent or IMO; the carrier does not sell direct to consumers. A licensed strategist can put its current MYGA rates side by side with other A-rated carriers so you can compare total return, term length and liquidity features before you decide.
Written and reviewed by
James Forren Warren
Licensed Retirement Income Strategist · License #20551202
James Forren Warren is a licensed Retirement Income Strategist with Tax Free Wealth Plan. For the past five years he has helped individuals and families turn their savings into retirement income they can count on. He writes and reviews the annuity research on this site and keeps it plain: what a product does, what it costs you, and who it actually fits.
Sources
Educational only, not investment, tax or legal advice. Tax Free Wealth Plan LLC is a licensed insurance agency, not a registered investment adviser or broker-dealer. Annuities are not bank deposits, are not FDIC insured and are not guaranteed by any government agency. Guarantees are backed solely by the claims-paying ability of the issuing insurance company. Features, rates and availability vary by state and change over time; the contract and disclosure documents govern.
