Fidelity Life Insurance Review | The bank rate

If you are looking for a life insurance company with impressive financial strength, multiple policies, a variety of endorsements and helpful online resources, you might be interested in Fidelity Life Insurance Policies. .

Fidelity Life, which began selling insurance policies in 1896, could be a great choice for clients looking for a well-established life insurance provider. However, be aware that Fidelity has an above average National Association of Insurance Commissioners (NAIC) complaints index. Therefore, before purchasing a policy, you might want to analyze the pros and cons.

Loyalty Life Insurance

If you are in the life insurance market, Fidelity Life probably has a policy that will meet your needs. The company is known for its RAPIDecision policies, which provide coverage on the same day of application or a few days after. After getting an online quote, an agent can finalize your coverage and approve your policy in minutes.

Fidelity Life insurance offers you up to six months pass a medical exam for its term life insurance policies, and if you are in good health, the company may waive your medical exam altogether.

Types of life insurance policies offered

Term life insurance

  • RAPIDecision Life: RAPIDecision Life from Fidelity Life is a term life insurance policy available for 10, 15, 20 or 30 years. Premiums remain the same throughout the life of the policy and provide coverage between $ 50,000 and $ 1 million. A 10 year term life insurance policy from Fidelity Life starts at $ 18.49 per month for coverage up to $ 250,000.
  • RAPIDecision Senior Life: If you are between 50 and 70 years of age, RAPIDecision Senior Life Insurance from Fidelity Life may be a good option for you. It is a term life insurance policy that offers coverage from $ 10,000 to $ 150,000, with a term of 10, 20 or 30 years. Policies expire at or after age 80, and your premium remains the same.

Permanent life insurance

  • RAPIDecision Final expenditure: Fidelity Life’s RAPIDecision Final Expense insurance can be used to cover end-of-life expenses, such as final medical bills and funeral expenses. This policy provides coverage from $ 5,000 to $ 35,000 with flat premiums and no medical exam.
  • Guaranteed issue RAPIDcision: People aged 50 to 85 who have pre-existing health conditions could benefit from RAPIDecision Guaranteed Issue. You could get up to $ 25,000 in guaranteed coverage with uniform premiums without having to meet health criteria.
  • RAPIDécision Senior Lifetime: RAPIDecision Senior Whole Life is a type of permanent life insurance designed for people aged 50 to 85. You could get coverage for $ 10,000 to $ 150,000 and there is a cash value component. This type of policy does not require a full medical examination, but does require a short health questionnaire.

Where does Fidelity Life operate?

Fidelity Life operates in 48 states and the District of Columbia. The company does not provide policies to residents of Wyoming and New York. Some policy offerings may not be available in all states. Check with your insurance agent for the restrictions that apply to you.

Fidelity Life Ratings, Reviews, Customer Satisfaction and Complaints

Fidelity Life insurance reviews show excellent financial strength, with an A- (Excellent) rating of AM Best. In terms of customer service, Fidelity Life NAIC Complaints Index score can raise red flags. Its complaint score of 2.84 means the company receives almost three times as many complaints compared to the insurance industry average of 1.0.

Fidelity Life does not have an app on the App Store or Google Play.

Reasons Fidelity Life is a good option

There are several reasons why Fidelity Life may be a good option for some policyholders. The biggest benefit is the fact that you could get same day coverage with no waiting period. With most life insurance companies, you must wait at least several weeks between the time you apply and the start date of your coverage.

Fidelity Life also offers a wide range of coverage options for the elderly and the young. The company has several policies available for people up to age 85, which is rare for life insurance. You also have up to six months after purchasing a term policy to undergo a medical exam, which is a rare option among insurers.

One of the most notable disadvantages of Fidelity Life is that customer service can be lacking. The NAIC Complaints Index ratings suggest that Fidelity Life may not have the most satisfactory agents or complaints handling process. If you want to get high quality service, you might want to consider another provider.

Additional policies offered Fidelity Life

Fidelity Life offers a stand-alone accident death benefit policy, which pays your beneficiaries a payment if your death is the result of a covered accident. You can purchase coverage between ages 20 and 59, with coverage ranging from $ 50,000 to $ 300,000.

In addition, Fidelity Life also offers several different endorsements, including:

  • Accidental death benefit rider
  • Family benefit rider in the event of accidental death
  • Terminally ill rider
  • Child Rider
  • Inflation rider
  • Return of premium insurance rider

Frequently Asked Questions

What is the best life insurance company?

The best life insurance company is different for everyone. It depends on where you live, what you’re looking for, what kind of coverage you need, and how much you can afford. Your best option is to shop around and evaluate several different vendors to see which one meets all of your needs.

How much does life insurance cost?

The cost of life insurance varies depending on a number of factors. Some of these factors include your age, current health, the type of policy you have, the amount of coverage you have, and where you live. Some companies, like Fidelity Life, allow you to get an instant rate quote online by providing some basic information.

What does life insurance cover?

Different life insurance policies cover different things, but they are mainly used to financially support your loved ones after your death. Whole life insurance policies that have a cash value component can be used as additional income during retirement. Some policies, such as final expense insurance, are used to cover end-of-life expenses, such as funerals.

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