Fidelity Life Insurance Company Review
At EasyQuotes4You were represent dozens of life insurance carriers. While all are “A” rated, they each have their different niches that are unique to them.
We try to give honest reviews based on our 17 years of experience with each company. In this article we are going to review Fidelity Life Insurance Company or sometimes referred to as Fidelity Life Association.
History of Fidelity Life Association
Fidelity Life Insurance Company has been covering Americans since 1896. With there home in Des Plains, Illinois (and still is) Fidelity Life Association was first a fraternal benefit society named Mystic Workers of the World.
The primary mission of Mystic Workers of the World was to offer reasonable types of life insurance the consumers in the Northern States and Midwest. These areas had previously been offered insurance products through Eastern life insurance companies.
As the United States began to expand westward, Fidelity Life Insurance Company did also. By 1908 they had more than 50,000 policyholders and by 1915 they had more than $100 million of life insurance on the books.
While the rest of the country struggled through the late 1920’s, Fidelity Life Association increased its assets by 100%. During this time is when there name was changed from Mystic Workers of the World to Fidelity Life Insurance.
Fast forward to 2019, and Fidelity Life Insurance Company holds over $28.4 billion of life insurance inforce.
They continue to grow and serve its consumers while offering affordable life insurance products to the growing middle class which is there niche market.
Fidelity Life Association has assets of $411 billion, statutory capital and surplus of $135 billion. Their have net life insurance premiums of $59.9 billion.
Fidelity Life Association Ratings
Fidelity Life Association is a strong financially stable life insurance company and has always paid out claims to its customers.
They boast an “A-” rating with A.M. Best, which is a leading provider of insurance company ratings. Fidelity Life Association also has an “A+” grade with the Better Business Bureau.
Products offered Fidelity Life Insurance Company
Fidelity Life Association offers a wide range of products for individuals and also worksite benefits.
They offer term life insurance, guaranteed issue life insurance, final expense life insurance, and accidental death insurance.
RAPIDecision Life
RAPIDescision Life is a level premium no exam term life insurance with face amounts up to $1,000,000 for qualifying consumers. This policy allows you to qualify for large face amounts within 24-48 hrs. of submitting an application.
Initially, this policy is a blend of two coverage’s. The first is a level term policy that pays the death benefit for natural and accidental causes. The second portion is an accidental benefit that pays if you die by accident only.
If you choose to, you have six months to complete a paramedical exam and if your health is good or better than reported on your application, the accidental portion of the policy will cover all deaths, natural and accidental.
If you take the paramedical exam and your health is worse than reported on the application, your benefits remain unchanged for the duration of the term you chose.
Sample RAPIDecision Term Life Sample Rates
20 year term-Non-Tobacco Rates
RAPIDecision Express
This is Fidelity Life Insurance Company fast and hassle-free level term life insurance product. Issue ages are from 18-65 with face amounts ranging from $50K to $250K.
The RAPIDecision Express is guaranteed renewable to age 95 with guaranteed level term periods to choose from are 10-30 years.
There are no exams, no tests, and no waiting periods with the RAPIDecision Express product. Acceptance depends on answering a few health questions and coverage can be approved within 24 hrs. from completion of the application.
RAPIDecision Senior Life Insurance
RAPIDecision Senior Life Insurance is designed for consumers age 50-85. This product offers you the choice of term life insurance or whole life insurance depending on what you needs are.
RAPIDecision Senior Life Term
RAPIDecision Senior Life Term product provides a level premium for the life of the policy. Coverage is available for ages 50 to 70 in face amounts of $10,000 to $150,000 and term lengths of 10, 20, and 30 years, depending on your age.
The full death benefit is paid upon death for any cause after year three through the end of the term period. The death benefit is reduced by 50% at the end of level term, in year 11, 21, 31 whichever is applicable.
RAPIDecision Senior Life Whole Life
RAPIDecision Senior Life Whole Life provides guaranteed level premiums for the life of the policy. Coverage is available for ages 50 to 85, in face amounts of $10,000 to $150,000, depending on your age.
The policy matures at age 121. The full death benefit is paid upon death for any cause after year three.
RAPIDecision Final Expense
RAPIDecision Final Expense provides simplified issue whole life insurance with full coverage starting day 1. Issue ages are between 50-85 with a face amount up to $35,000.
No medical exam is required but you do have to answer a few health questions. While the policy does cover some health impairments, it is not suitable for someone who is a serious health risk.
Premiums and death benefits are guaranteed for the life of the policy.
RAPIDecision Guaranteed Issue
This is Fidelity Life Insurance guaranteed issue whole life insurance product. Issue ages are 50-85 with face amounts up to $20K.
There are no medical exams or health questions asked. As a result everyone is instantly approved. These policies build up cash value and have guaranteed premium and death benefit.
There are limited benefits the first three years of the policy, with full coverage beginning in year four.
Accidental Death Benefit
Fidelity Life Insurance offers an accidental death benefit insurance policy for as little as $18 a month. The product covers you if you die from an accident within 90 days of the accident.
Ages requirements range from 20-59 with face amounts between $100K-$300K. You will have full benefits paid until you reach age 70. At age 70 the face amount is reduced by 50% till the policy expires at age 80
You can also add you spouse and children for an added cost. Some exclusions do apply such as death by suicide, drug related death, and war.
Our Thoughts
Fidelity Life Insurance Company is a financial sound company offering many different products to choose from. The underwriting process is fully automated and most of their products don’t require an exam. Some even approved instantly.
We definitely would recommend Fidelity Life Insurance Company to our clients, we also now how important it is to look at all the carriers. If you would like some more info or need a quote, please don’t hesitate to give us a call.
How long has Fidelity Life been in business?
Fidelity Life Insurance has been covering Americans since 1896. With there home in Des Plains, Illinois (and still is) Fidelity Life Insurance was first a fraternal benefit society named Mystic Workers of the World.
Is Fidelity Life a good company?
They boast an “A-” rating with A.M. Best, which is a leading provider of insurance company ratings. Fidelity Life Association also has an “A+” grade with the Better Business Bureau.
Does Fidelity Life offer no exam term life insurance?
Fidelity Life’s RAPIDecision Life is fast and hassle-free level term life insurance product. Issue ages are from 18-65 with face amounts ranging from $50K to $250K.
What types of life insurance products do Fidelity Life offer?
They offer term life insurance, guaranteed issue life insurance, final expense life insurance, and accidental death insurance.