Fidelity Life Insurance Company Review (2024)
Fidelity Life is an innovative life insurance company that has helped modernize the life insurance industry with automated online underwriting procedures. Fidelity life insurance policies appear to be affordable and can be purchased online and may be underwritten on the same day. Fidelity has strong financial strength ratings although the customer service ratings need some improvement.
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Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
UPDATED: Nov 22, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life 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 life insurance 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: Nov 22, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life 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 life insurance 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 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.
Table of Contents
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.
Fidelity Life Insurance Policy Details| Term Life Insurance | Permanent Life Insurance | Final Expense Insurance | |
|---|---|---|---|
| AGE | 18-70 | 50-85 (with RAPIDecision® Senior Whole Life) | 50-85 |
| COVERAGE LENGTH | Covers you for a set period of time, typically 10-30 years | Covers you for your lifetime | Covers you for your lifetime |
| COVERAGE AMOUNT | Up to $2M with Fidelity Life | Up to $150,000 with Fidelity Life | Up to $35,000 with Fidelity Life |
| COST | Most affordable type of coverage | More expensive than term life | More expensive than term life, but lower coverage amounts keep it affordable |
| BUILDS CASH VALUE? | No | Yes | Yes |
| LEVEL PREMIUMS | Yes | Yes | Yes |
| FIDELITY LIFE PRODUCTS | RAPIDecision® Life and RAPIDecision® Senior Life | RAPIDecision® Senior Whole Life | RAPIDecision® Final Expense and RAPIDecision® Guaranteed Issue Life |
| BEST FOR? | Often the best choice for people in the prime of life because of its flexibility and affordability | Helping you take care of lifelong needs, like providing for a child with disabilities or making sure there’s an inheritance for kids or grandkids | Helping to pay for end-of-life expenses, like a funeral or medical bills |
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.
Sample 20-year Fidelity Term Life Insurance Rates| Male, $100,000 | Female, $100,000 | Male, $250,000 | Female, $250,000 | Male, $500,000 | Female, $500,000 |
|---|---|---|---|---|---|
| $12.96 | $12.27 | $18.92 | $15.66 | $31.76 | $24.36 |
| $12.96 | $12.44 | $19.14 | $16.10 | $32.19 | $25.23 |
| $13.66 | $13.40 | $20.45 | $18.71 | $33.93 | $29.58 |
| $15.49 | $14.18 | $25.01 | $22.62 | $43.94 | $37.63 |
| $20.79 | $18.18 | $37.19 | $31.76 | $68.30 | $55.25 |
| $30.89 | $24.71 | $54.59 | $45.68 | $103.53 | $81.35 |
| $42.80 | $33.06 | $85.26 | $68.95 | $160.95 | $119.63 |
| $77.69 | $51.24 | $156.82 | $106.36 | $269.27 | $200.10 |
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.
Comparison of 20-year, $250,000 Life Insurance Rates for Fidelity Life| Age | Fidelity Life | State Farm | Liberty Mutual | John Hancock | MassMutual | Prudential |
|---|---|---|---|---|---|---|
| 25 | $18.92 | $23.27 | $33.30 | $14.21 | $15.00 | $18.16 |
| 30 | $19.14 | $24.59 | $33.75 | $14.79 | $15.23 | $19.03 |
| 35 | $20.45 | $26.09 | $39.60 | $16.86 | $15.88 | $19.25 |
| 40 | $25.01 | $33.72 | $55.13 | $22.09 | $20.68 | $21.00 |
| 45 | $37.19 | $45.47 | $78.53 | $31.54 | $32.40 | $23.63 |
| 50 | $54.59 | $69.59 | $144.68 | $49.24 | $47.63 | $31.28 |
| 55 | $85.26 | $105.72 | $220.95 | $78.24 | $73.73 | $42.88 |
| 60 | $156.82 | $183.79 | $399.83 | $116.99 | $125.73 | $66.28 |
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.
Your one-stop online guide for life insurance quotes. Get free quotes now!
Secured with SHA-256 Encryption
Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
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.