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Company Details
FREEDOM LIFE INSURANCE COMPANY OF AMERICA License Status :
Active
NAIC Number :
62324
Phone Number:
9529361300
Company Address:
9800 Health Care Lane MN006-W500
Minnetonka, MN 55343
Description:
Life and Health
License Number:
A419800
Date Admitted:
1971-12-20
Market Share
Link to Supplemental Data Page
| Year | Line | Market Share | Direct Premium Written | Direct Premium Earned | Direct Losses Paid | Direct Losses Incurred | Loss Ratio |
|---|---|---|---|---|---|---|---|
| 2023 | Total Accident & Health | 0.25% | $36,636,599 | $36,605,590 | $15,650,195 | $15,205,072 | 41.54 % |
| 2023 | Total Individual Accident & Health | 0.70% | $36,059,788 | $36,032,271 | $15,350,219 | $14,916,132 | 41.40 % |
| 2023 | Individual Comprehensive Medical Expense | 0.02% | $335,183 | $335,183 | $4,022,813 | $3,808,114 | N/A |
| 2023 | Individual Specified Disease | 14.06% | $14,748,304 | $14,797,657 | $4,456,899 | $3,999,646 | 27.03 % |
| 2023 | Individual Accident Only | 3.83% | $3,085,420 | $3,088,507 | $794,732 | $421,862 | 13.66 % |
| 2023 | Individual Dental | 4.61% | $2,426,371 | $2,423,519 | $995,003 | $1,006,927 | 41.55 % |
| 2023 | Individual Limited Benefit | 13.70% | $15,464,510 | $15,387,405 | $5,080,772 | $5,679,583 | 36.91 % |
| 2023 | Total Group Accident & Health | 0.01% | $576,811 | $573,319 | $299,976 | $288,940 | 50.40 % |
| 2023 | Group Comprehensive Medical Expense - Association | 2.73% | $20,174 | $20,817 | $296 | $1,606 | 7.71 % |
| 2023 | Group Specified Disease | 0.67% | $337,910 | $335,261 | $200,300 | $205,473 | 61.29 % |
| 2023 | Group Accident Only | 0.05% | $66,512 | $66,212 | $45,012 | $40,623 | 61.35 % |
| 2023 | Group Dental | 0.01% | $18,898 | $18,724 | $12,148 | $12,132 | 64.79 % |
| 2023 | Group Limited Benefit | 0.04% | $133,317 | $132,305 | $42,220 | $29,106 | 22.00 % |
| 2023 | Total Life | 0.03% | $3,390,995 | $0 | $547,292 | $0 | N/A |
| 2023 | Total Individual Life | 0.03% | $3,390,995 | $0 | $547,292 | $0 | N/A |
| 2023 | Individual Term Life | 0.57% | $3,390,995 | $0 | $547,292 | $0 | N/A |
| 2022 | Total Accident & Health | 0.27% | $32,602,115 | $32,469,302 | $14,722,040 | $17,255,768 | 53.14 % |
| 2022 | Total Individual Accident & Health | 0.67% | $31,856,436 | $31,724,366 | $14,562,414 | $17,184,761 | 54.17 % |
| 2022 | Individual Comprehensive Medical Expense | 0.02% | $396,610 | $396,610 | $4,673,619 | $5,515,227 | N/A |
| 2022 | Individual Specified Disease | 14.98% | $17,579,571 | $17,625,622 | $5,137,346 | $6,062,461 | 34.40 % |
| 2022 | Individual Accident Only | 4.84% | $2,989,385 | $2,983,420 | $539,767 | $636,967 | 21.35 % |
| 2022 | Individual Dental | 4.54% | $2,046,713 | $2,036,179 | $750,823 | $886,028 | 43.51 % |
| 2022 | Individual Limited Benefit | 8.84% | $8,844,157 | $8,682,535 | $3,460,859 | $4,084,078 | 47.04 % |
| 2022 | Total Group Accident & Health | 0.01% | $745,679 | $744,936 | $159,626 | $71,007 | 9.53 % |
| 2022 | Group Comprehensive Medical Expense - Association | 2.74% | $31,877 | $33,061 | $43,102 | $19,173 | 57.99 % |
| 2022 | Group Long Term Care | 1.24% | $446,334 | $445,698 | $51,147 | $22,752 | 5.10 % |
| 2022 | Group Accident Only | 0.07% | $91,994 | $91,862 | $9,684 | $4,307 | 4.69 % |
| 2022 | Group Dental | 0.01% | $31,069 | $31,017 | $8,162 | $3,631 | 11.71 % |
| 2022 | Group Limited Benefit | 0.05% | $144,405 | $143,298 | $47,531 | $21,144 | 14.76 % |
| 2022 | Total Life | 0.02% | $2,980,839 | $0 | $407,017 | $0 | N/A |
| 2022 | Total Individual Life | 0.03% | $2,980,839 | $0 | $407,017 | $0 | N/A |
| 2022 | Individual Term Life | 0.48% | $2,980,839 | $0 | $407,017 | $0 | N/A |
| 2021 | Total Accident & Health | 0.21% | $25,483,185 | $25,340,017 | $9,576,502 | $10,961,737 | 43.26 % |
| 2021 | Total Individual Accident & Health | 0.55% | $24,753,207 | $24,610,960 | $9,198,814 | $10,530,803 | 42.79 % |
| 2021 | Individual Comprehensive Medical Expense | 0.01% | $212,361 | $212,361 | $3,024,648 | $3,462,617 | N/A |
| 2021 | Individual Specified Disease | 16.94% | $17,470,411 | $17,406,677 | $3,788,316 | $4,336,864 | 24.91 % |
| 2021 | Individual Accident Only | 4.05% | $2,530,001 | $2,516,227 | $373,947 | $428,094 | 17.01 % |
| 2021 | Individual Dental | 3.16% | $1,475,314 | $1,463,995 | $547,179 | $626,410 | 42.79 % |
| 2021 | Individual Limited Benefit | 4.51% | $3,065,120 | $3,011,700 | $1,464,724 | $1,676,818 | 55.68 % |
| 2021 | Total Group Accident & Health | 0.01% | $729,978 | $729,057 | $377,688 | $430,934 | 59.11 % |
| 2021 | Group Comprehensive Medical Expense - Association | 0.15% | $61,725 | $61,678 | $36,157 | $41,254 | 66.89 % |
| 2021 | Group Specified Disease | 1.01% | $449,966 | $450,665 | $283,565 | $323,541 | 71.79 % |
| 2021 | Group Accident Only | 0.07% | $87,324 | $87,569 | $18,672 | $21,304 | 24.33 % |
| 2021 | Group Dental | 0.01% | $25,860 | $25,821 | $9,076 | $10,356 | 40.11 % |
| 2021 | Group Limited Benefit | 0.04% | $105,103 | $103,324 | $30,218 | $34,479 | 33.37 % |
| 2021 | Total Life | 0.02% | $2,388,047 | $0 | $67,345 | $0 | N/A |
| 2021 | Total Individual Life | 0.03% | $2,388,047 | $0 | $67,345 | $0 | N/A |
| 2021 | Individual Whole Life | 0.27% | $2,388,047 | $0 | $67,345 | $0 | N/A |
Enforcements
The department has not taken enforcement action against this company in the past three years.
Complaint Index
| Year | Line | Market Share | Number of Complaints | Complaint Index |
|---|---|---|---|---|
| 2023 | Health | 0.27% | 6 | 103 |
| 2023 | Life and Annuities | 0.02% | 0 | 0 |
| 2023 | Long-Term Care Insurance | 0.06% | 0 | 0 |
| 2022 | Health | 0.30% | 6 | 90 |
| 2022 | Life and Annuities | 0.02% | 0 | 0 |
| 2022 | Long-Term Care Insurance | 0.06% | 0 | 0 |
| 2021 | Health | 0.23% | 5 | 89 |
| 2021 | Life and Annuities | 0.02% | 0 | 0 |
Company Changes
Market Conduct
Date: 04/11/2019
Date: 01/15/2021
Financial Exams
This company does not have any financial exams.