Fidelity Life Insurance Review (2023)

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.

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.

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.

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.

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.

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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.

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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