Fidelity Life Insurance Reviews 2024
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Last Updated: January 15, 2024
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.
- 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.
Pros and Cons
- Online quoting for some policies
- Many coverage options for seniors
- Strong financial presence
- Whole life only available for seniors
- Mixed customer reviews on service provided.
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.
Sample of Customer Reviews
He gave me options as to what I wanted, he was very knowledgeable and the products that he had presented. Good conversationalist. He was straight to facts which I appreciated. And he gave me a direct number which also I appreciate it.
The entire process was a breeze. The application was quick, but thorough. The physical was also quick and convenient. Everyone from start to finish was very friendly, and a pleasure to work with. Highly recommend!
So easy to get the insurance that our family needed. Agents are not pushy at all, but rather incredibly polite, professional, and helpful. From start to finish, each step was convenient, and we now feel like our family is on track to protect against any unforeseen tragedy.
I purchased life insurance from Fidelity life in 2015 and have the payments directly withdrawn from my checking account. On 1/6/2023 I logged into my account to check my balance which I don’t do very often and noticed Fidelity life had not drawn the payments since October 2022. Fidelity life should re-activate my policy with the exact terms as I have had it for the last 8 years. Thank you for looking into my complaint and helping me to get my policy back.Source: BBB, Trustpilot
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.
Frequently Asked Questions
Does Fidelity Life pay out?
Claims are usually paid quickly, often in less than 30 days. Lump sum payouts pay the entire death benefit at once. Delays in payment may be due to death occurring in the first two years of the policy, which may require a claim review.
What kind of insurance is Fidelity Life?
Fidelity Life is here to help you find the most affordable life insurance policy for you and your family. We can help you explore term life, permanent life, universal life, whole life, and others that will meet your individual budget and needs.
Who is Fidelity Life owned by?
Founded in 1896, Fidelity Life Association is a life insurer based in Illinois. The company offers term products and a range of permanent options aimed at older customers. It is owned by Vericity, which also owns financial, an insurance agency that sells Fidelity Life products.
- Fidelity Life Insurance's Long-Standing History
- Pros and Cons
- Fidelity Life Insurance Availability
- Fidelity Life Insurance Coverage Types
- Fidelity Life Insurance Reviews: Customer Reviews and Ratings
- Sample of Customer Reviews
- Fidelity Insurance Ratings
- Insurance Options for Seniors and Those with Health Conditions
- Conclusion: Final Verdict
- Reviews of Similar Companies
- Frequently Asked Questions
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