Company Information
Company Name
Liberty Bankers Life
Product Name
Liberty Bankers Heritage Elite 5
Description
The Heritage Elite 5 is a single premium, fixed annuity with a 5-year rate guarantee. After five years, owners can withdraw, transfer, or reinvest their entire account balance. If no action is taken, the account does not automatically renew. It will remain in annuity form with a one-year interest rate guarantee.
Qualified and non-qualified funds are accepted. Required Minimum Distributions are allowed and not subject to surrender penalties. There are no surrender charges at death.
AM Best Rating
A-
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 0%
Rate
5.20%
Term
5 Years
Minimum Investment
$ 10,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
90
Surrender Schedule
7.90%, 7.00%, 6.20%, 5.30%, 4.40%, 0%
What We Like About This Annuity
Small minimums to secure the highest rate. Account does not automatically renew at maturity. No surrender penalties at death.
Notable Features
IRA Required Minimum Distributions are not subject to surrender charges. All other withdrawals (except for death) are subject to surrender charges.
Other Popular Products
Liberty Bankers offers a wide array of insurance products including several MYGA fixed annuities with varying amounts of liquidity. They also offer comprehensive Medicare Supplement and Final Expense insurance.
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About Liberty Bankers Insurance Group
With offices in TX, FL, KY, and NC, Liberty Bankers better serves their nationwide customer base. Whether consumers seek annuities, Medicare Supplements, life insurance, or ancillary policies – this well-diversified company has them covered.
This A- rating company with AM Best boasts nearly $4 billion in assets under management and over $33 million in surplus to cover policyholders’ needs. They and their affiliates cover tens of thousands of consumers across the country.