• Written By
    Sheena Zimmermann, M.Ed.

    Sheena Zimmermann, M.Ed.

    Financial Writer

    As a professional who values lifelong learning, Sheena Zimmermann joined the Annuity.org 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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  • Edited By
    Emily Miller
    Emily Miller, Managing Editor for Annuity.org

    Emily Miller

    Managing Editor

    Managing editor Emily Miller is an award-winning journalist with more than 10 years of experience as a researcher, writer and editor. Throughout her professional career, Emily has covered education, government, health care, crime and breaking news for media organizations in Florida, Washington, D.C. and Texas. She joined the Annuity.org team in 2016.

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  • Financially Reviewed By
    Timothy Li, MBA
    Timothy Li, MBA Headshot

    Timothy Li, MBA

    Business Finance Manager

    Timothy Li, MBA, has dedicated his career to increasing profitability for his clients, including Fortune 500 companies. Timothy currently serves as a business finance manager where he researches ways to increase profitability within the supply chain, logistics and sales departments.

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  • Updated: July 2, 2023
  • 4 min read time
  • This page features 6 Cited Research Articles
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Fact Checked

Annuity.org partners with outside experts to ensure we are providing accurate financial content.

These reviewers are industry leaders and professional writers who regularly contribute to reputable publications such as the Wall Street Journal and The New York Times.

Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism.

Our expert reviewers hold advanced degrees and certifications and have years of experience with personal finances, retirement planning and investments.

Why Trust Annuity.org
Why You Can Trust Annuity.org
Annuity.org 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 Annuity.org 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 Annuity.org.

Annuity.org 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 Annuity.org. Additionally, Annuity.org 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.

With 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.

Fixed annuities are investments that offer many benefits to an investor. Contact a qualified investment advisor to see which type works best for your investment goals.

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
Annuity rates on a phone

Purchase an Annuity Today

Learn how an investment today can provide guaranteed income for life.

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
did you know?

If you have an annuity with Liberty Bankers Life, you can log into your account at:

Liberty Bankers Life’s Policyowner Login Page

About Annuity.org

Annuity.org 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, Annuity.org 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.

Please seek the advice of a qualified professional before making financial decisions.
Last Modified: July 2, 2023