Liberty Bankers Life Insurance Company Annuity Review (2026)

Liberty Bankers Life at a Glance

Who owns Liberty Bankers — is it private-equity backed?

No. Unlike most high-rate MYGA carriers, Liberty Bankers is privately held — owned by Liberty Bankers Insurance Group, a Dallas holding trust controlled by the Phillips family. Liberty Bankers Life itself was incorporated in 1958 (originally Royal Oak Life); the group’s separately acquired American Benefit Life was Oklahoma’s first chartered life insurer, back in 1909. There’s no private-equity sponsor and no offshore reinsurance affiliate behind the rates.

The trade-off: a traditional general-account model means no private-capital yield engine — rates are competitive but funded conservatively, on $2.68 billion in assets and record operating income for 2024. A standout feature: built-in health-event liquidity waivers on its Heritage Premier MYGA.

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Liberty Bankers Life’s Financial Strength and Background

Liberty Bankers Life is a privately held carrier organized under Liberty Bankers Insurance Group, a Dallas-based holding trust. With $2.68 billion in total assets and a record $37.5 million operating income in 2024, the company is growing steadily. AM Best rates the company A- (Excellent), with the assets-to-liability ratio of 114.22% indicating healthy coverage above reserves. A- meets the “Excellent” threshold that many conservative buyers use as a cutoff, placing Liberty Bankers in the same rating tier as many mainstream MYGA carriers while still offering competitive rates and the built-in health waivers.

The company is not publicly traded and carries only an AM Best rating – no S&P, Moody’s, or Fitch. For buyers who rely on multi-agency comparisons, this is worth noting. Verify the current AM Best rating at ambest.com before purchasing. The Liberty Bankers Insurance Group website publishes annual financial summaries.

What Annuity Products Does Liberty Bankers Life Offer?

• Heritage Premier MYGA – Available in 3, 5, 7, and 9-year terms. Minimum premium $10,000 ($5,000 for IRA). Current rates approximately 4.75% (3-yr), 5.00% (5-yr and 7-yr), 5.25-5.45% (9-yr). RMD-friendly. The standout feature: built-in health waivers at no charge – including nursing home, terminal illness, disability, and Activities of Daily Living (ADL) triggers. These allow penalty-free withdrawals (10% in year 1, 50% in year 2+) if you become confined or disabled. Most carriers either don’t offer these waivers or charge for them as a rider.
• Bankers Elite MYGA – 3, 5, 7, and 9-year terms. $10,000 minimum non-qualified ($5,000 IRA). Slightly higher rates than Heritage Premier but no free withdrawals during the guarantee period – this is a pure accumulation product. Best suited for buyers who are certain they won’t need access to their funds. Not available in Alabama, Delaware, or New York.
• Single Premium Immediate Annuity (SPIA) – $25,000 minimum. Multiple payout structures.

Liberty Bankers Life MYGA Products and Current Rates

Live rates from AnnuityRateWatch · Rates updated November 13, 2026

Rates apply to standard products. State availability varies. Not an offer or solicitation. Always verify current rates before purchasing.

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Who Is Liberty Bankers Life Best For?

• Buyers who prioritize health-event liquidity over standard 10% free withdrawals – the Heritage Premier’s built-in ADL and nursing home waivers provide a meaningful safety net that most MYGAs don’t include.
• IRA holders over age 73 who need RMD-compliant products – Heritage Premier accommodates required minimum distributions without surrender charges.
• Buyers with 7-9 year time horizons seeking higher locked-in rates – the 9-year term is less commonly offered and tends to price competitively.
• Buyers who are certain of a full hold and want maximum accumulation – Bankers Elite is pure growth with no liquidity features.

Liberty Bankers Life is not available in New York. The Bankers Elite series also excludes Alabama and Delaware. Buyers who want annual percentage-based free withdrawals (the standard 10% per year model) should note that Heritage Premier uses health-event triggers rather than a routine annual withdrawal right.

Liberty Bankers Life Pros and Cons

Pros

• A- (Excellent) AM Best rating – a solid financial-strength profile
• Built-in ADL/nursing home/disability waivers on Heritage Premier at no extra cost
• 9-year MYGA term available – rates in the 5.25-5.45% range are competitive for long-horizon buyers
• RMD-friendly on Heritage Premier
• Maximum issue age 90
• Record 2024 financials – $37.5M operating income, strong assets-to-liability coverage

Cons

• Bankers Elite has NO free withdrawal provision – zero liquidity during the guarantee period outside of health events
• Not available in New York
• Only AM Best rated – no S&P, Moody’s, or Fitch
• $25,000 minimum for SPIA – higher than some competitors
• Privately held – less public financial disclosure than stock-company carriers

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