Fidelity Life Insurance Company Review

Why is life insurance important? The money from the policy is income tax-free. There are very few financial products offering tax-free benefits. Life insurance remains a very attractive, terrific tax-free financial product.

This means the beneficiary gets 100 percent of the life insurance proceeds for critical financial needs such as paying off debt, covering the monthly family bills, college funding, gifting, paying the funeral expenses and other final expenses of the insured.

Fidelity Life Insurance Company ReviewThere are thousands of carriers to choose from. Each company has its own benefits.

Unfortunately, it may be overwhelming, confusing and very frustrating trying to find the best carrier and policy on your own.

The younger your children the more life insurance you will need to protect their futures. A $250,000 – $500,000 policy with a 20 or 30-year term offers terrific protection.

You certainly do not want to go to bed at night worrying if your life company will be in business five years down the road. Fortunately, with the internet providing easy access at your fingertips, you can quickly research the financial strength and rating of any life insurance carrier you are considering.

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Sure, you can go out and buy a plan from some random company, or you can do a little work beforehand. You need a carrier who is going to check off all of the required boxes.
This article is going to look at Fidelity LIfe and see if they are a quality fit for you.

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The History of Fidelity Life Insurance Company

Fidelity Life Insurance Company was initially founded back in 1896. The company was originally named Mystic Workers of the World, a fraternal benefit society that was designed for providing financial protection for the growing middle class of the Midwest and the Northern States.

By 1915, the company had already reached $100 million of life insurance in force, and in 1929, during the U.S. Great Recession, the company doubled their assets. The following year, the company changed its name to Fidelity Life Association, and over the years, the company continued to grow.

In the early 1950s, Fidelity became a mutual legal reserve life insurance company, and soon afterward, it became affiliated with a series of life insurance organizations via fee-for-management agreements.

Roughly a half-century later, in 2005, the company once again became independent, focusing on middle Americans and helping its customers to grow and protect their wealth and their loved ones.

In 2009, Fidelity Life Insurance Company’s parent company added customer-oriented capabilities when it acquired Efinancial – a direct to consumer sales entity. This, too, helped to signify Fidelity’s focus on the financial security of Americans.

Fidelity Life Insurance

Today, Fidelity Life Insurance Company is a well respected financial entity. In 2015, the company held total assets more than $421 million, and a face amount of life insurance in force of more than $28.5 billion.  In 2015, the company took in more than $69 million in net life insurance premiums, which is an increase over 2014 from just under $60 million.

fidelity life insuranceLife Insurance Company is Lifestory Interactive with Members Mutual Holding Company as its ultimate parent. Through this company, Fidelity organized as a stock insurance company.

Fidelity, they can sell insurance in every state — with the exception of New York and Wyoming. The company is headquartered in Des Plains, Illinois. Customer service representatives of Fidelity can be reached via phone between the hours of 8:00 a.m. and 5:00 p.m. Central Time on Monday through Friday, or at any time via email.

The approach that is used by Fidelity in fulfilling its customers’ basic needs includes offering assistance with maintaining a family’s standard of living, mortgage protection, gifting, helping a family to pay ongoing family debts, funding the future education of children and / or grandchildren, paying for final expenses, and leaving the family a financial legacy.

Insurer Ratings and Better Business Bureau Grade

insurer ratingsFidelity has been given a rating of A- (Excellent) by A.M. Best Company, the leading provider of news, ratings, and financial data for insurance companies. (This rating was reaffirmed on June 24, 2016).

Fidelity Life Insurance Company has been accredited via the BBB. The Better Business Bureau, they have been given an A- rating.

Life Insurance Products For Your Family Offered By Fidelity

Fidelity Life sells tons of products. This can be very helpful for its customers so that they can find the coverage that best fits with their particular need and budget. These include the following:


rapid decision through fidelity lifeThe RAPIDecision Express policy offers benefit amounts that range from $50,000 to $250,000. These policies are open to applicants who are between 18 and 65. Unlike many other life insurance policy options, applicants can obtain approval and policy issue within just a few days, as versus weeks – or longer. (In most cases, approval and policy issuance can take only 24 to 48 hours).

For seniors, Fidelity Life Insurance Company offers several life insurance coverage options, such as the:


If you are between the ages of 50 and 85, you may purchase either term or whole life insurance coverage. With term life insurance protection, you can get a death benefit up to $150,000 with a minimum face amount of $10,000. Approval for this coverage is based primarily upon the answers that are provided on the application for coverage. In this case, one section of the level premium term life insurance will pay out a death benefit for any cause – other than those that are specifically excluded in the policy.

Another attractive feature of the coverage is an accidental death benefit that will pay out an additional amount of death benefit in the event you pass away due to a covered accident. Whole life insurance also offers death benefit coverage of between $10,000 up to $150,000.

You also get cash build up. Your plan will build value, which isn’t taxed until the money comes out.


The RAPIDecision Final Expense insurance policy may offer a way to quickly and affordably pay for funeral costs. This plan is open to individuals who are between 50 and 85 years old, with permanent protection of up to $35,000. While there is no medical examination required for policy approval, there are some health questions that will be asked on the application for coverage to take place.

Fidelity Life Insurance Company also offers life insurance products through the worksite. Excellent options are available to certain employers and associations. With these coverage options, workers, and members, as well as various family members, can also be covered with life insurance protection.

In many cases, life insurance through the worksite is generally very affordable.  Also, the premium amount on these plans is guaranteed not to change over time. The protection that is available can be as much as $250,000 for the primary insured, and up to 50 percent of that amount for the covered spouse.

Worksite life insurance coverage through Fidelity Life Insurance Company can be purchased by those who are between the ages of 16 and 70. In addition to the excellent, affordable life insurance protection, these plans may also be eligible for additional coverage riders, such as a dependent child benefit, an accidental death benefit, and/or waiver of premium and accidental death benefit for long-term care needs.

No Medical Exam Life Insurance Protection

Fidelity Life Insurance Company also offers no medical exam and guaranteed issue life insurance coverage. These types of policies can be helpful for those who may have certain adverse health conditions and may not otherwise qualify for a traditional medically underwritten life insurance policy.

With no medical exam coverage, there is no need to meet with a paramedical professional who takes your blood pressure, blood and a urine sample. Therefore, there is no need to wait for medically related results – and in turn, the policy can be issued much faster. NOTE: Premiums are a bit higher with a no exam policy compared to policies that require a medical exam.

The company also offers a guaranteed issue life insurance policy. The RAPIDecision Guaranteed Issue policy consists of permanent whole life insurance coverage with face amounts up to $20,000 for applicants who are between the ages of 50 and 85. It is simple to qualify for this policy, as there is no medical examination required, nor are there any health questions. Excellent policy choice for paying final expenses.

Other Available Products and Services

In addition to regular life insurance coverage for consumers, Fidelity Life Insurance Company also provides accidental death and dismemberment coverage. With accidental death coverage, benefits are paid in the event of death that results from an accident within 90 days of the incident’s occurrence. Accidental death coverage is much less than standard life insurance.

This RAPIDecision Accidental Death Benefit coverage is available to anyone between 20 and 59, with protection amounts of between $50,000 and $250,000. With this plan, the full amount of benefit would be paid out, tax-free, up to the insured’s age 70, and then the amount is reduced to 50 percent of the stated face amount until the policy expires at the insured’s age 80.

This coverage from Fidelity Life Insurance Company for as little as $10 per month. There are also various family and inflation riders that can be added to this plan to help in “customizing” the coverage to best fit your individual needs.

If you would like quotes from high-risk life insurance providers; we can provide you with a comparison today.

Getting Cheap Life Insurance

Fidelity Life is only one of the THOUSANDS of carriers. After reading this review, you might think they are the best choice. For a lot of applicants, they are a great choice, but it doesn’t mean they are for you.

Before you buy a policy with Fidelity, you need to do some shopping.

We can be reached via phone, toll-free, by dialing 800.277.3098.

We can make all the recommendations we want, but we will never know the perfect carrier for you until we’ve learned about your situation.

We’ve connected a lot of our customers will quality Fidelity policies, but we’ve also sold plans from other companies. We aren’t tied to one company.

We will sell you the best plan, regardless of the carrier. Want to get that kind of help? Go ahead and call us.


Susan Wright, CLU, ChFC, RHU, REBC, ADPA, CITRMS, CIPA has been in the insurance and financial field for over 27 years. Even with years of experience, she continues to create new resources for others. Everything from books to training material.

Susan received her MBA from St. Louis University and her BA from Michigan State University.

She has worked in several areas but excels in writing material for both finances and insurance. Her goal is to give professionals credibility and assist in streamlining the sales process.

She has written countless articles for a variety of websites.

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