Fidelity Life Insurance Review (2024)
Fidelity Life insurance is an excellent company with "A-" under A.M. Best. You can get Fidelity Life insurance as low as $10/mo. However, Fidelity Life insurance quotes are determined by age, gender, death benefits, and policy type. Compare and shop around to secure the best Fidelity Life insurance rates.
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Tim Bain
Licensed Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Licensed Insurance Agent
UPDATED: Dec 10, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Dec 10, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Fidelity Life Insurance Company has four life insurance types
- Term life insurance rates are around $10/mo at Fidelity Life
- A.M. Best awarded Fidelity Life an “A-“
- Fidelity Life has a 30-day look-back period
Fidelity Life Insurance Company is an Illinois-based life insurance company with term life insurance and permanent life insurance policies. When people shop for life insurance, they often wonder how much life insurance costs.
If you’re searching for information on Fidelity life insurance, you’ve come to the right place. Our guide explains everything you need to know about Fidelity Life insurance quotes, insurance products, and third-party ratings.
Continue reading to learn more about Fidelity Life insurance rates. Enter your ZIP code in the free comparison tool above to compare multiple companies and secure affordable life insurance.
What insurance products are available from Fidelity Life?
Before you buy Fidelity Life insurance, you should know what policy types are available. Let’s look at Fidelity Life insurance policies.
- Accidental Death Insurance
- Final Expense Burial Insurance
- RAPIDecision Final Expense (available for people between 50 and 85; up to $35,00 in policy limits; no medical exam but has health questions)
- RAPIDecision Guaranteed Issue (similar to Final Expense but omits health questions; up to $25,000 in policy limits)
- Term Life Insurance
- RAPIDecision Life (available for people between 18 and 65; up to $1 million in death benefits)
- RAPIDecision Express (available for people between 18 and 65; up to $100,000 in coverage; no medical exam necessary)
- RAPIDecision Senior Life (available for people between 50 and 70; up to $150,000 in death benefits
- Whole Life Insurance
- RAPIDecision Senior Whole Life (available for people between 50 and 85; up to $100,000 in policy limits; accumulates cash value)
Fidelity Life insurance with no medical exam is available through the final expense and term life insurance. However, you’ll pay more money for Fidelity Life insurance rates when you have no medical exam life insurance. (For more information, read our “Life Insurance Medical Exam: What to Expect“).
Read More: Tips for the Life Insurance Medical Exam
Does Fidelity Life insurance have any riders?
The short answer is yes. Fidelity Life has six life insurance riders. Here’s a list of what’s available.
- Accidental Death Benefits Rider
- Child Rider
- Family Accidental Death Benefit Rider
- Inflation Rider
- Return of Insurance Premium Rider
- Terminal Illness Rider
Accidental death benefits and child riders are only available for term life insurance policies. Inflation and return of insurance premium riders can be added to accidental death insurance.
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How much are Fidelity Life insurance rates?
Fidelity Life insurance reviews wouldn’t be reliable without a few sample rates. Therefore, we found some Fidelity Life insurance rates for a term policy to maintain faith with our readers.
There are multiple factors that affect your life insurance premium, but the most significant factors are your age, gender, and medical history. Policyholders with certain health conditions and those who smoke will generally pay higher insurance premiums than healthy non-smokers.
Let’s compare Fidelity Life term life insurance rates based on several significant factors to see what you might pay for a monthly premium.
Monthly Fidelity Life Average Monthly Insurance Rates by Age, Gender, 10-Term, and $100K Death Benefits
| Age of Non-Smoking Policyholder | Fidelity Life Monthly Rates Based on 10-Year/$100K Policy (Male) | Fidelity Life Monthly Rates Based on 10-Year/$100K Policy (Female) |
|---|---|---|
| 25 | $10.44 | $9.57 |
| 30 | $10.53 | $9.57 |
| 35 | $10.88 | $10.35 |
| 40 | $11.31 | $10.88 |
| 45 | $14.70 | $13.92 |
| 50 | $19.84 | $17.49 |
| 55 | $29.32 | $23.23 |
| 60 | $42.72 | $30.80 |
| 65 | $71.78 | $44.98 |
Fidelity Life insurance for seniors is more expensive because seniors have a lower life expectancy. Meanwhile, younger policyholders pay much less per month. If you’re female, you’ll pay slightly less than male customers. Essentially, prices go up as people age, so your best bet is to buy a policy while you’re still young so you can get the lowest rates.
A whole life insurance policy is usually the most expensive option, as it is a permanent policy with a cash value component. A term life policy, which lasts for a particular period of time stipulated by the policy, is usually less expensive than a whole policy. A policy for burial or funeral expenses is usually the cheapest life insurance you can buy.
You can make a monthly payment using your Fidelity Life insurance login, or you can contact the Fidelity Life insurance phone number at 1-866-912-7775.
Navigating Fidelity Life Insurance Claims Process
Ease of Filing a Claim
Fidelity Life Insurance offers a convenient claims process with multiple options for filing a claim. Policyholders can file claims online through the company’s secure portal, over the phone via the dedicated customer service line, or by using the user-friendly mobile app. This flexibility ensures that customers can choose the method that best suits their preferences and needs.
Average Claim Processing Time
Fidelity Life Insurance is committed to efficient claim processing. While the exact processing time can vary based on the complexity of the claim, the company strives to process claims in a timely manner. Policyholders can expect a reasonably swift resolution, allowing them to focus on more important matters during challenging times.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback is crucial in assessing the effectiveness of an insurance company’s claims process. Fidelity Life Insurance has received varied feedback from customers regarding their claim resolutions and payouts.
While some policyholders have expressed satisfaction with the smooth and hassle-free experience, others have reported challenges, particularly related to customer service, delays in claims, and responses to queries. Evaluating customer feedback can provide valuable insights into the company’s strengths and areas that require improvement.
Unleashing Innovation With Fidelity Life Insurance Digital and Technological Features
Mobile App Features and Functionality
Fidelity Life Insurance offers a feature-rich mobile app designed to enhance policyholders’ overall experience. The app provides convenient access to policy details, allows users to file claims directly from their smartphones, and offers interactive tools for premium calculations and policy management.
The intuitive interface and comprehensive features make it easier for customers to stay informed and manage their policies on the go.
Online Account Management Capabilities
The company’s online account management portal empowers policyholders with self-service options. Through the secure online platform, customers can view policy documents, update personal information, make premium payments, and track the status of their claims.
The user-friendly interface ensures a seamless online experience, enabling customers to efficiently manage their insurance policies from the comfort of their homes.
Digital Tools and Resources
Fidelity Life Insurance provides policyholders with a range of digital tools and resources to enhance their understanding of life insurance and financial planning. These resources include informative articles, educational videos, and interactive calculators that help customers assess their insurance needs and make well-informed decisions.
By leveraging these digital resources, policyholders can gain valuable insights into life insurance concepts and make choices that align with their financial goals.
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Does Fidelity Life have any good ratings and customer reviews?
According to Business Wire, Fidelity Life is financially stable. It’s accredited under the Better Business Bureau. But what about its customer review ratings?
Let’s review a quick summary of Fidelity Life’s financial strength and customer review ratings.
- A.M. Best – A-
- Better Business Bureau (BBB) – A+
- BBB Consumer Review Rating: One-Star
- NAIC Complaint Index – 2.83
While it’s possible to get affordable Fidelity Life insurance, it might be challenging to find positive customer reviews at the Chicago-based company.
The BBB gave Fidelity Life a one-star rating based on 22 customer complaints.
Meanwhile, the National Association of Insurance Commissioners (NAIC) reported a complaint index of 2.83. This means Fidelity Life had twice as many complaints as expected for a company of its size, which indicates that customer satisfaction may not be a high priority.
Fidelity Life Association’s financial strength rating of A- from A.M. best indicates a very strong financial future.
The most common issue with Fidelity Life was customer service, delays in claims, and the inability to answer questions.
How do you cancel Fidelity Life insurance?
You can cancel your Fidelity Life insurance policy by calling the company and letting them know you want to cancel. To secure a refund, cancel your policy before the 30-day look-back period expires.
https://youtu.be/krAu2UD1aNI
If you have a whole life insurance policy, it may take a little bit longer because permanent life insurance has an accumulated cash value that has to be converted to surrender cash value.
What do you need to know about Fidelity Life Insurance Company?
Before we wrap up this guide, let’s look at a quick summary of the Fidelity Life Insurance Company.
- Address – 8700 W. Bryn Mawr Ave., Suite 900S, Chicago, IL 60631
- Phone Number – 312-379-2397; 1-800-369-3990
- Website – www.fidelitylife.com
- Market Share – 0.009 percent
- Total Assets – $422.3 million
- Direct Premiums – $146.5 million
- Year Founded – 1896
Fidelity Life is known for its accidental death insurance, final expense insurance, term life insurance, and whole life insurance.
Read More: Accidental Death and Dismemberment vs Life Insurance: Which is better?
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Fidelity Life Insurance: What’s the bottom line?
Before making your life insurance decision, think about the information above and your specific coverage needs. Compare different types of policies and rates from other life insurers. There may be better options for you available.
Your Fidelity Life insurance will depend on your personal factors and the type of policy you have. The cheapest option for Fidelity Life customers is term life insurance, but permanent life insurance is more expensive.
While Fidelity Life has good financial ratings, it struggles with customer reviews.
If you were eager to buy Fidelity Life insurance, consider comparing the top companies near you before committing to a policy. Start comparing now by using our free online quote tool below.
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Tim Bain
Licensed Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.