Fidelity Life Insurance Company Review (2022)
Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance.
Not only does he strive to provide you with the …
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Written by
Jeffrey Manola
Founder & Licensed Agent
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs.
She has since used that knowledge in her more than ten years as a writer, largely in the insur…
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Reviewed by
Leslie Kasperowicz
Farmers CSR for 4 Years
UPDATED: Feb 13, 2022
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Facts You Should Know
Fidelity Life has provided life insurance policies for more than 100 years
In recent years, Fidelity life insurance products have become available rapidly and sometimes entirely online
The Fidelity life insurance rates compare favorably to many industry competitors
Getting the best life insurance quotes can have financial ramifications for years. While it is easy to go to large insurance companies that virtually everyone knows, it could be worthwhile to look into other options such as Fidelity life insurance when shopping around.
It is hard to know which life insurance company to trust. In this article, we will highlight the Fidelity life insurance reviews, ratings, policy options, and more. By the end, you should know whether or not you can trust Fidelity as your life insurance company.
Keep reading to learn more about Fidelity life insurance or enter your ZIP code above to get free quotes from the most affordable life insurance companies in your area.
Is Fidelity life insurance any good?
Fidelity Life is a long-standing insurance company that has a lot to offer. In recent history, Fidelity insurance has helped pave the way for many other industry competitors by modernizing the life insurance underwriting process. In a sense, Fidelity was one of the first insurance companies to offer instant life insurance through its automated underwriting process.
Fidelity was the first company to use e-signatures on life insurance policies in 2007 and has continuously made adjustments to the underwriting process to ensure a quick and efficient buying process for policyholders.
When searching for Fidelity Life products, you may find a similar company referred to as American Fidelity. Keep in mind that American Fidelity insurance is not affiliated with Fidelity life insurance despite the similar company names.
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What life insurance products can you get from Fidelity Life?
Fidelity Life offers a few basic life insurance policies. These policies are fairly easy to navigate through considering some of the associated restrictions. Fidelity Life offers a line of RAPIDecision® products that includes term life insurance, whole life insurance, and burial or final expense insurance.
Below, you can see the finer details related to Fidelity’s life insurance options which are also found on the company website.
Each Fidelity Life life insurance policy is designed to suit a different population. Young and middle-aged adults should opt for a term life insurance policy while older adults may prioritize a whole or burial insurance policy. Your age, coverage needs, and budget should play a role in which policy you choose.
How much is Fidelity life insurance?
You could see above that there are a handful of factors that dictate which life insurance policy you would want to choose. Beyond that, there are other factors that can change your rates. This includes age, gender, occupation, health, hobbies, and so on.
Below, we have sample rates for healthy adults that don’t smoke. Keep in mind that these rates could quickly increase for smokers or those with any notable health concerns.
As you may notice above, the Fidelity Life rates are fairly affordable for young adults. You could potentially get a 20-year term life insurance policy for under $13 a month. Older adults with higher coverage amounts could pay in excess of $200 a month.
While these rates might help you get a feel for how much you would pay as a healthy adult, they do not show you how Fidelity’s rates compare to the competition. Below, you can see whether or not Fidelity offers affordable life insurance rates when compared to other life insurance providers.
Above, you can see that Fidelity Life offers competitive life insurance rates when compared to other industry competitors. Fidelity may not always be the cheapest option, but they certainly don’t appear to be the most expensive either.
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At the end of the day, it’s important to get personalized quotes from multiple providers to get the best rates based on your current situation. The rates above should simply serve as a guide so you can see how companies compare for an ideal healthy adult.
Does Fidelity have good ratings?
Fidelity Life clearly has some benefits considering the ease of policy acquisition and the affordability of its policies. Before you invest in them, you’ll want to be sure that your money is in safe hands.
Fidelity Life does appear to have strong financial strength ratings overall. A.M. Best awarded Fidelity Life an “A-” Financial Strength Rating although the company was downgraded in 2021. A.M. Best noted some concerns of sustainability due to a low-interest market and reliance on life insurance policies which can be volatile for insurers.
Fitch also rated Fidelity Life with a strong (A) Insurer Financial Strength rating in 2021. Unlike A.M. Best, Fitch actually upgraded Fidelity Life in 2021. Regardless of the remarks, both organizations did rate Fidelity highly.
As for customer service, Fidelity Life does have some concerns. The company’s NAIC Complaint Index score of 2.84 suggests that they field nearly three times as many complaints as other industry competitors. This means to say that you or your beneficiaries might have issues with the policy or death benefit.
The Better Business Bureau (BBB) does have Fidelity listed with an “A+” rating, indicating that the company does work to resolve complaints. Upon further review, most of the complaints were about email subscriptions and policy underwriting on the BBB website.
Overall, Fidelity Life does have a lot to offer but the company’s customer service leaves some to be desired. Assuming your policy quote matches the policy you receive, you should be in the clear.
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Fidelity Life Insurance: The Bottom Line
Fidelity may not be a well-known life insurance company like Nationwide or AIG, but they still have a lot to offer. Fidelity has a strong trio of policy options that are easy to purchase and appear to be affordable for most people.
We hope you enjoyed learning more about Fidelity life insurance. Before you go, enter your ZIP code below to get free quotes from the top life insurance companies in your area.
