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Fidelity Life Association Review

Michael Horbal on

Fidelity Life Association has been helping families since 1896.

Table of contents

Is Fidelity Life a Good Insurance Company?

With over $32 billion of life insurance in force and $420 million in assets as of 2019, Fidelity has helped a lot of families.

Financial Strength

  • AM Best – “A-“
  • Weiss – “C+”

Rating as of 2019 and subject to change

How Easy is it to Get a Policy with Fidelity?

Fidelity was one of the first to offer accelerated life insurance and makes it very easy to get a policy if you meet the criteria.

They are one of the best life insurance companies available for smaller face, no hassle life insurance policies.

Are Fidelity Policies Competitive?

You have a choice of term life insurance, whole life and final expense policies.

Fidelity has a unique approach to underwriting.

They will approve a policy first and then give you 6 months to complete the required exam.

Because the policies do not require traditional underwriting, exams, etc. the pricing tends to be more expensive.

Term Life Insurance from Fidelity Life

Three term life insurance options are available:

  • 1. RAPIDecision Life
  • 2. RAPIDecision Express
  • 3. RAPIDecision Senior Life

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

Underwriting is a non-medical process…initially.

As an example, the issued policy blend might be a 30% term life, 70% accidental policy.

You would then have up to 6 months to complete a paramed exam.

Once complete and approved by underwriting, the policy would then become 100% term life.

If you didn’t complete the paramed exam, the initial blend (30/70 in this example) would become permanent.

In some cases, the initial policy may be issued with 100% term life insurance coverage from the beginning.

Other features:

  • Face amounts from $50,000 – $1,000,000
  • Issue ages – 18-65
  • Term lengths – 10, 15, 20 and 30-year term
    • 10-year – 18-65
    • 15-year – 18-65
    • 20-year – 18-60
    • 30-year – 18-50 (45 for nicotine)
  • Additional limitations for 30-year term include:
    • $900,000 limit for 50-year-olds
    • Nicotine users limited to:
      • $690,000 to age 44
      • $640,000 for age 45
  • No conversion available
  • Three-tiered non-medical underwriting classes
  • Medical underwriting classes:
    • Preferred Non-Nicotine
    • Standard Non-Nicotine
    • Preferred Nicotine
    • Standard Nicotine
  • High-risk cases to Table “H”
  • Flat extras to $7.50 per $1000 of coverage
  • Dependent Child Rider available

RAPIDecision Express is underwritten on a simplified issue, accept or reject basis.

There are a series of 9-10 health and non-medical questions.

Underwriting then checks your motor vehicle record, prescription database, and the MIB – Medical Information Bureau.

If approved, your policy will be issued.

Other features:

  • Face amounts from $25,000 – $250,000
  • Term lengths – 10, 15, 20 and 30-year
    • 10-year – 18-65
    • 15-year – 18-60
    • 20-year – 18-55
    • 30-year – 18-45
  • Underwriting rate classes:
    • Standard Non-Nicotine
    • Standard Nicotine
  • Riders available:
    • Dependent Child Rider
    • Accidental Death Benefit

RAPIDecision Senior Life

Senior Term Life is a graded death benefit term life insurance policy.

Most cases do not require an exam.

Other features:

  • Face amounts from $10,000 – $150,000
  • Term lengths – 10, 20 and 30-years
    • 50-55 = All term lengths
    • 56-60 = All term lengths – $100,000 limit
    • 61-65 = 10 & 20-year term – $100,000 limit
    • 66-70 = 10-year term – $50,000 limit
  • Death benefit decreases by 50% at end of level term

Senior Whole Life

This is a graded death benefit whole life insurance policy.

Other features:

  • Face amounts – $10,000 – $150,000
  • Issue ages:
    • 50-55 – Up to $150,000
    • 56-65 – Up to $100,000
    • 66-75 – Up to $50,000
    • 76-85 – Up to $25,000
  • Policy matures at age 121

Graded Death Benefit Details for term and whole life policies:

  • In years 1-3 the death benefit equals the premiums paid plus 5% interest for any non-accident death.
  • If death occurs in year 4 and beyond, the full death benefit is paid.

We have other graded whole life insurance policies available from American General that are worth comparing to.

Does Fidelity Provide Good Customer Service?

You may reach customer service at 855-961-0346

Policy information is available by logging in – here

Corporate headquarters is located at:

8700 W. Bryn Mawr Avenue, Suite 900S – Chicago, Illinois 60631

Conclusion

Fidelity Life insurance is a good company to consider when looking for smaller life insurance policies with accelerated underwriting.

We’ll provide you with comparisons to other accelerated companies such as Banner Life and Assurity.

Please take a few minutes to submit your quote request.

Other Companies We Reviewed

Mike Horbal bio

Michael Horbal

Author

Michael Horbal is the founder and owner of RiskQuoter.com and a licensed life insurance agent who has helped thousands with affordable protection for families and businesses.

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