Fidelity Life Insurance Review – Fast Coverage, But Read the Fine Print

Need life insurance fast with no medical exam? Fidelity Life specializes in just that. But are their policies worth the price?

In this article, we review Fidelity’s life insurance underwriting and compare their life insurance to competitors.

Fidelity Life Association has been helping families since 1896.

Fidelity Life Association has been protecting families since 1896, offering simplified life insurance designed to be quick and easy. They’ve issued over $32 billion in life insurance coverage, focusing mainly on no-exam term and final expense policies.

Fidelity is a good fit for individuals seeking affordable coverage without the inconvenience of medical exams. But that convenience often comes at a cost.

Fidelity does not have the strongest ratings.

• AM Best: “A-“

While stable, Fidelity doesn’t carry the top-tier financial ratings of companies like Banner, Pacific Life, or Protective.

Fidelity offers a variety of simplified-issue policies through its RAPIDecision product line. These include term, final expense, senior, and guaranteed issue options.

Let’s break them down.

RAPIDecision Life is a term life policy (“all-cause benefit) blended with an accidental death benefit.

• Issue Ages: 18-65
• Coverage Amounts: $50,000 to $2,000,000
• Term Lengths: 10, 15, 20, and 30 years
• Medical Exam: Not always

CAUTION: Most applicants initially receive a blended policy, which is a combination of traditional life insurance and accidental death coverage.

You’ll have six months to complete a medical exam. If your results support your original application, the policy converts to 100% all-cause life insurance.

No other company does this, and probably for good reason. Your policy may be an accidental death policy and not cover if you die from an illness.

There is no need to consider this policy, as the market is already flooded with companies that offer accelerated underwriting and/or instant approvals, as well as full coverage from day 1.

Companies such as Banner Life, Symetra, and SBLI offer instant approvals. Other companies such as Pacific Life, Prudential, and Lincoln National offer accelerated underwriting.

Best for: Individuals seeking fast coverage with no exam and lower coverage requirements.

• Issue Ages: Up to age 65
• Coverage Amounts: $25,000 to $250,000
• Term Lengths: 10, 15, 20, and 30 years.
• Underwriting: Simplified issue with 9-10 health questions.

Fidelity reviews public records like your prescription history, MIB report, and driving record to decide whether to approve your application.

No medical exam needed, but rates are higher than medically underwritten policies.

Designed for people aged 50-70 who need temporary coverage.

• Coverage Amounts: $10,000 to $150,000
• Term Lengths: 10, 20, and 30 years (based on age)
• A medical exam is not usually required
• Underwriting consists of answering health questions

This policy may be a good fit if:

• You’re under age 70 and in good health.
• You want term coverage, not permanent life insurance.

When the level term period ends, the death benefit decreases by 50%. This is common in the industry these days.

Best for individuals between the ages of 50 and 85 who want coverage for final expenses.

• Coverage amounts: $5,000 to $40,000
• Medical Exam: None
• Underwriting: Based on health questions and basic database checks.
• Approval time: Often just a few days
• Waiting period: Coverage starts immediately

This policy is designed for individuals seeking affordable, permanent coverage to alleviate the financial burden of end-of-life expenses.

While it offers an immediate level death benefit, keep in mind that coverage amounts are relatively low.

A guaranteed issue policy for people who are otherwise uninsurable.

• Coverage Amounts: Up to $25,000
• Medical exam: None
• Approval: Guaranteed
• Graded Benefit Period: Yes
  • Years 1-3: The Death benefit payout is equal to the premiums paid plus interest.
  • Year 4+ Full death benefit

This type of policy is a last-resort option. If you’re healthy enough to qualify for a final expense or senior term policy, those will provide more coverage at a lower cost.

Additionally, there are other guaranteed issue policies that offer a shorter graded period.

• Phone: 855-961-0346
• Online: here
• Address: 8700 W. Bryn Mawr Avenue, Suite 900S – Chicago, Illinois 60631

Fidelity offers a digital portal for policy access and is recognized for its quick policy issuance through the RAPIDecision process.

Fidelity Life is a good choice if:

• You want life insurance quickly
• You prefer to skip the medical exam
• You’re okay with paying more for that convenience

But if you’re in good health, you’ll likely get better pricing and coverage from companies that offer full underwriting.

Not sure which way to go? Request a quote and we’ll help you compare all your best options.