Founded as Mystic Workers of the World in 1896, Fidelity Life Association has designed its business plan around serving everyday Americans and providing them with peace-of-mind when it comes to life insurance.
By 1915, the company saw major growth by reaching $100 million in successes.
It was in 1930 that the company decided to change its name to Fidelity.
About Fidelity Life Insurance
Today, Fidelity has capitalized on its success with over $31 billion of life insurance in force providing products and services in 48 states.
Focusing on American values and taking care of the middle man, Fidelity Life Association uses patented technology and innovative products to offer policies that are equally valuable, affordable and effective.
With each one of the available policies, this company hopes to help families maintain a standard of living, pay debts, fund education, pay for final expenses and create the opportunity for leaving behind a financial legacy to family members in need.
Fidelity Life Insurance Quotes and Application
Those interested in working with Fidelity Life Association for life insurance have various options when it comes to getting a quote.
You can meet one-on-one with an agent, discuss your options over the phone, or even fill out an application online. All you have to do is fill out a quick survey to determine your eligibility.
If you’re looking for a specific referral to an agent, you can email [email protected] or call directly at 800-482-6616.
Someone is available to discuss life insurance policies Monday through Thursday between 8 a.m. and 9 p.m., or Friday from 8 a.m. to 7 p.m.
Fidelity Life Insurance Policies
With so much priority over basic insurance for homes, cars and other personal belongings, many people overlook the most important asset: life itself.
Fidelity Life Insurance wants to help you prepare for the unexpected by providing various life insurance products that meet your individual wants and needs.
The products offered include:
- Individual Life: This is the top tier umbrella of all of the policies offered by Fidelity Life Insurance. Whether your loved ones need assistance paying for daily expenses, taking care of the mortgage, handling medical expenses or saving for long-term goals, life insurance can provide peace of mind that your family won’t be left with your debt. The individual life insurance policies offered at Fidelity Life Association include RAPIDecision Life, RAPIDecision Express, RAPIDecision Senior Life, RAPIDecision Final Expense, RAPIDecision Guaranteed Issue, and Accidental Death Benefit, which are explained in further detail below.
- RAPIDecision Life: When you apply for RAPIDecision Life by answering questions about your history and current state of health, you can gain access to coverage within 48 hours. This policy is a blend of two different types of coverage. The first part pays a death benefit to all with the exception of anyone who is namely excluded. The second portion pays additional coverage in the case of an accidental death. No matter the state of your health during the application process, you can increase the percentage coverage at no additional cost down the line if something happens.
- RAPIDecision Express: Just like RAPIDecision Life, RAPIDecision Express can get you coverage access in as short as a few days. Policy eligibility is based solely off of minimal health questions. This coverage option provides a death benefit to age 95 and has level premium periods of 10, 15, 20, and 30 years. This policy also features optional riders like Dependent Child and Accidental health, giving you the chance to add additional coverage if necessary.
- RAPIDecision Senior Life Term & Whole Life: This policy is for those between the ages of 50 and 85, providing flexibility for those who want pure protection or whole life with a cash value accumulation. The Senior Life Term option is available for those between ages 50 and 70, and ranges in periods of 10, 20, and 30 years. The Senior Life Whole Life option is available for people ages 50 to 85 and the policy matures at age 121.
- RAPIDecision Final Expense: This policy option is designed specifically for individuals between ages 50 and 85 to take away the financial burden that may come with taking care of medical expenses, funeral costs, or credit card debt. There’s no medical examination required during the application process – only a minor health questionnaire that will determine coverage options. Normally, ineligibility occurs if you’re living with serious health risks or complications that reduce your life expectancy significantly, otherwise most customers with small health impairments can gain coverage.
- RAPIDecision Guaranteed Issue: Available for those between the ages of 50 and 85, the RAPIDecision Guaranteed Issue policy is a permanent whole life insurance option that provides for the accumulation of the cash value. The application process is seamless, requiring no health examination or questionnaire to determine eligibility.
- Accidental Death Benefit: This policy provides coverage to customers from ages 20 through 59 with certain limits, but offers full benefits until the age of 70, which expires at age 80. Exclusions of the Accidental Death Benefit policy include suicide, drug and alcohol-related accidents, and military service.
Fidelity Life Insurance Riders
The legal term rider refers to a provision that adds benefits or amends the terms that are generally included in a basic life insurance policy.
This enables consumers to add additional coverage and other benefits.
Fidelity Life Insurance has multiple rider options, including Guaranteed Insurability Rider, Child Protection Rider and Accidental Death Benefit Rider.
Fidelity Life Insurance Discounts
Currently, there are no details online that lead us to believe that there are discounts provided by Fidelity Life Association.
However, it’s always wise to connect with an agent to discuss the potential to save money after purchasing a product.
Fidelity Life Insurance Financial Strength
- Underwriter: Fidelity Life
- Marketshare: 0.09% (2016)
- Premiums Written: 136,891,170 (2016)
- Standard & Poor’s Financial Rating: A+
- Moody’s Financial Rating: N/A
- AM Best Financial Rating: A-
Financial strength plays a major role in determining if a life insurance company has the ability and assets to provide consumers with the support needed to get through a tough situation, as reported by the Insurance Information Institute.
Because Fidelity Life Association has been around for quite some time, it’s wise to assume that the company can be trusted to provide the right product or service dedicated to your life.
In 2017 alone, Fidelity Life Association reported $406 million in total assets, $138 million in statutory capital and surplus, $61 million net life insurance premiums and $31 billion life insurance policies in force.
Because of these financial successes and proof of stability, Fidelity Life Association earned itself an A- Excellent rating from AM Best, the oldest and best known financial strength assessment system in the insurance industry.
Fidelity Life Insurance Reviews and Customer Service
Not only does Fidelity Life Association have proof of financial strength, it also has a positive reputation in terms of customer experience.
In 2017 the National Association of Insurance Commissioners gave Fidelity a complaint ratio score of 1.32 for the policy type Individual Life, which is better than many competitors in the market.
Additionally, Fidelity Life Association has been accredited by the Better Business Bureau since 2014 and earned itself an A+ BBB rating based on its ability to resolve customer complaints and satisfy customer needs.
Fidelity Life Insurance Phone Number & Contact Information
- Homepage URL: https://www.fidelitylife.com/
- Company Phone: 800.369.3990
- Headquarters Address: 8700 W. Bryn Mawr Avenue, Suite 900S, Chicago, IL 60631