Fidelity Life Insurance Reviews 2023

Life insurance plays a vital role in securing the financial well-being of your loved ones in the event of your passing. It serves as a valuable safety net, ensuring that your family can maintain their standard of living, cover essential expenses, and fulfill long-term financial goals even in your absence.

However, with numerous insurance providers and policy options available, finding the best life insurance coverage can be challenging for you. Here in this Fidelity Life Insurance review, you can explore history, coverage options, customer reviews. With the necessary insights you can evaluate whether Fidelity Life Insurance aligns with your specific needs and priorities.

Overview

• No of reviews: Trustpilot (‎959), Clearsurance (28), BBB (34), Total (1,021)
• No of ratings: Trustpilot (4.5), Clearsurance (2.5), BBB (3.9), Avg rating (3.7)
• Address: 1350 E Touhy Ave Ste 205W Des Plaines, IL 60018-3303
• Phone number: (866) 912-7775

Fidelity Life Insurance's Long-Standing History

Fidelity Life Insurance has a rich and storied history in the insurance industry, with its origins dating back to 1896. Founded as Fidelity Life Association, the company was established with a clear mission: to provide individuals and families with reliable life insurance coverage and financial protection.

Over the decades, Fidelity Life Insurance has developed a strong reputation for its unwavering commitment to customer service, transparency, and personalized coverage options. The company understands the importance of delivering on its promises to policyholders, ensuring that they have the peace of mind and financial security they need.

With a focus on building lasting relationships with customers, Fidelity Life Insurance places a high value on providing excellent customer service. The company strives to address the unique needs and concerns of each policyholder, offering personalized attention and guidance throughout the insurance process.

Make sure to check out Best Life Insurance Companies.

Fidelity Life Insurance Availability

Fidelity Life Insurance holds licenses in nearly every state across the United States, including Washington, D.C., and Guam. This extensive coverage footprint allows the company to reach a broad range of individuals and families seeking life insurance protection.

Fidelity Life Insurance Coverage Types

Fidelity Life Insurance operates primarily through online and phone channels, focusing on providing affordable life insurance with simplified underwriting practices. The company offers several types of life insurance coverage to cater to different needs:

Term Life Insurance

Fidelity term life insurance policies are suitable for individuals who require coverage for a specific period. Fidelity Life offers two term life policies: RAPIDecision Life and RAPIDecision Senior Life Term.

The RAPIDecision Life policy is available for individuals aged 18-65, with term lengths ranging from 10 to 30 years and coverage amounts from $50,000 to $2 million.

RAPIDecision Senior Life Term is designed for individuals aged 50-70, providing the same term length options with coverage amounts ranging from $10,000 to $150,000. These term life policies use simplified underwriting and do not require a medical exam.

Permanent Life Insurance

Permanent life insurance offers coverage for the entirety of a person’s life, as long as premiums are paid. Fidelity Life offers two types of permanent coverage:

a. Whole Life Insurance: Fidelity whole life insurance provides the RAPIDecision Senior Whole Life policy, available for individuals aged 50-85. This policy offers coverage amounts ranging from $10,000 to $150,000 and may accumulate cash value over time. It features fixed premiums for the lifetime of the policyholder.

b. Guaranteed Issue Life Insurance: Guaranteed issue life insurance is a type of whole life insurance that does not require a medical exam. Fidelity Life offers the RAPIDecision Guaranteed Issue policy, available for individuals aged 50-85. It provides coverage up to $25,000 and may be a suitable option for those with pre-existing health conditions that make it challenging to qualify for standard coverage.

c. Final Expense Insurance: Fidelity Life offers the RAPIDecision Final Expense policy, designed to help cover funeral expenses and other end-of-life costs. This policy is available for individuals aged 50-85, with coverage amounts ranging from $5,000 to $35,000.

It’s important to note that the specific details, eligibility criteria, and availability of these policies may vary. Consulting a Fidelity Life agent will provide accurate and up-to-date information tailored to your individual circumstances.

 

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Fidelity Life Insurance Reviews: Customer Reviews and Ratings

By exploring customer reviews and third-party ratings, potential buyers can gain valuable insights into the experiences of policyholders, the quality of customer service, claims handling, and overall satisfaction with the company. Reviewing reputable sources, such as independent insurance rating agencies and consumer review platforms, can provide a more comprehensive understanding of Fidelity Life Insurance’s reputation and performance. Here are some samples of Fidelity customers reviews from different platforms and ratings by some important insurance rating companies.

Fidelity Insurance Ratings

Insurance companies need to be rated by top insurance rating agencies, as these ratings play a crucial role in assessing the financial strength and stability of an insurance company. One such prominent rating agency is AM Best, which specializes in evaluating the insurance industry.

AM Best has affirmed Fidelity Life Assurance’s Financial Strength Rating of A- (Excellent), which gives a testament to the company’s strong balance sheet and its ability to meet its financial obligations.

In addition, Fidelity Life Insurance has also received a favorable rating from the Better Business Bureau (BBB). The BBB, a well-known and respected organization that evaluates the business practices and customer service of companies, has assigned Fidelity Life Insurance an A+ rating. This reflects Fidelity’s commitment to maintaining a high level of customer satisfaction and ethical business practices.

Insurance Options for Seniors and Those with Health Conditions

Fidelity Life Insurance stands out in the industry for its insurance options catering specifically to seniors. The company offers senior term life insurance, senior whole life insurance, and final expense policies designed to address the unique needs of older individuals.

Additionally, Fidelity Life Insurance provides options for those who may have been turned down for traditional term life insurance or who require quick and affordable coverage due to health conditions or terminal illness. The company’s guaranteed issue policy and standalone accidental death coverage can be viable solutions in such situations.

Conclusion: Final Verdict

With its long-standing history and commitment to customer service, Fidelity Life Insurance has earned an honorable place in the insurance industry. The company’s range of term and permanent life insurance options, along with its specialized offerings for seniors and individuals with health conditions, demonstrates its dedication to meeting diverse customer needs.

While Fidelity Life Insurance offers competitive advantages such as no-exam coverage options, a streamlined online quoting process, and specialized policies, it is still advisable for individuals to conduct prior research and consider their options before deciding. You can consider reaching out to local insurance brokers near you to have more personalized information. By doing thorough research and seeking professional guidance, you can make a well-informed choice when selecting a life insurance provider.

Reviews of Similar Companies

One effective way to gain insights into the experiences of others is by reading reviews of similar companies. Here are some of the reviews of life insurance companies you want to refer.

• Colonial Penn Life Insurance Review
• American Income Life Insurance Review 
• Globe Life Insurance Review
• Primerica Life Insurance Review
• Mass Mutual Life Insurance Review

Sources

Trustpilot

A.M Best

BBB