Fidelity Life is a strong life insurance company across the board. This provider offers several no-medical exam policies and a variety of riders for enhanced coverage. However, Fidelity Life has a slightly higher-than-average complaint index of 1.17 with the National Association of Insurance Commissioners (NAIC), which could indicate poor customer service or issues with claim handling.
|Many riders available||Higher-than-average NAIC complaint index|
|Multiple no-medical exam policies||Whole life insurance is only available for seniors|
|Coverage is sold in most states||Not rated in the 2021 J.D. Power US Individual Life Insurance Study|
|Helpful online resources and coverage calculators|
Fidelity Life began selling life insurance in 1896. The company operates entirely online and focuses on providing affordable life insurance with simplified underwriting practices. It might be a good option if you want to purchase a policy without taking a medical exam. Fidelity Life’s RAPIDecision® policies only require a short health questionnaire, so you can get coverage with no waiting period.
Fidelity Life does not have eligibility requirements, but there are age limits for certain policies. For example, the company offers several types of life insurance aimed at older adults, which have a minimum age requirement of 50. The company also offers multiple riders for customized protection, which not all companies do. Coverage from Fidelity Life insurance is available in 48 states and Washington D.C.
Fidelity Life insurance coverage types
If you’re in the market for life insurance, Fidelity Life probably has a policy that might suit your needs. The company offers term life, whole life and final expense insurance. In addition, the company offers multiple riders. Fidelity Life is known for its RAPIDecision® policies, which offer coverage on the same day you apply or within a few days after, with no medical exam required.
- Term: Fidelity Life offers two term life The first is called RAPIDecision® Life, which is available for people between the ages of 18-65, over a duration of 10-30 years, with coverage ranging from $50,000-$2 million. The other policy is called RAPIDecision® Senior Life Term, which is available for people between the ages of 50-70, over a duration of 10-30 years, with coverage ranging from $10,000-$150,000. Both of these term life policies use simplified underwriting and don’t require a medical exam.
- Permanent: Fidelity Life offers two types of permanent coverage. The RAPIDecision® Whole Life Insurance for Seniors policy is available for people between the ages of 50-85, and provides between $10,000-$150,000 in coverage. This policy builds cash value and has fixed premiums for your lifetime. You can also purchase a RAPIDecision® Final Expense policy, which can help cover funeral expenses and other end-of-life costs. It’s available for people between the ages of 50-80 and provides between $5,000-$35,000 in coverage.
- Guaranteed: There is one guaranteed issue policy from Fidelity Life, called RAPIDecision® Guaranteed Issue. It’s available for people between the ages of 50-85 and provides up to $25,000 in coverage. Guaranteed issue coverage does not require a medical exam, so it can be a good option for people who have pre-existing health conditions that make it difficult to qualify for standard coverage.
Fidelity Life services
Fidelity Life exclusively sells life insurance. The company does not offer any other services, like estate planning or retirement planning.
Other Fidelity Life perks worth considering
In addition to traditional life insurance, Fidelity Life also offers accidental death insurance. Here is some more information about what this policy covers:
- Accidental death insurance: Accidental death insurance provides a death benefit if the policyholder’s death is deemed accidental. This policy is available for people between the ages of 20-59, with coverage rating from $50,000-$300,000. A medical exam is not required.
In addition, Fidelity Life also offers several different riders, including:
- Accidental death benefit rider
- Family Accidental Death Benefit Rider
- Terminal Illness Rider
- Child Rider
- Inflation Rider
- Return of Premium Insurance Rider
Fidelity Life insurance customer and claims satisfaction
Fidelity Life insurance reviews are somewhat mixed. The company has excellent financial strength ratings, with an A- (Excellent) rating from AM Best. However, in terms of customer service, Fidelity Life’s NAIC Complaint Index score may raise some red flags. Its individual life insurance complaint score of 1.17 means that the company has more complaints compared to the insurance industry average of 1.0. The company is not rated by J.D. Power for overall customer satisfaction in its 2021 life insurance study.
Fidelity Life social responsibility
Fidelity Life is committed to social responsibility and giving back to the community. The company partners with a variety of organizations, including the Greater Chicago Food Bank, Insurance Industry Charitable Foundation and the National Multiple Sclerosis Society. Fidelity Life agents and employees volunteer regularly with these charities and others.
Not sure if Fidelity Life is right for you? Consider these alternatives
Fidelity Life is a strong provider, but there are lots of life insurance companies on the market. If you’re not sure if Fidelity Life is the best provider for your needs, here are a few other companies you might consider looking into:
- Haven Life: Haven Life offers two policies, Haven Term and Haven Simple. The company operates online and offers relatively high coverage limits compared to some competitors.
- Mutual of Omaha: Based on our research, Mutual of Omaha is a highly-rated life insurance provider that sells term, universal and guaranteed issue policies.
- John Hancock: John Hancock offers several types of life insurance, as well as a unique wellness program, called Vitality, which provides savings for health-related products.