Fidelity Life Association was established in 1896and has been providing life insurance to Americans for over 125 years. It is based in Chicago, Illinois. The company focuses on offering affordable and accessible life insurance, particularly to seniors and individuals seeking straightforward coverage.
With policies such as term life, whole life, final expense, and guaranteed issue life insurance, Fidelity Life caters to a diverse range of needs and financial situations. But is Fidelity Life Insurance a good choice? This detailed review examines the company’s history, policy offerings, financial strength, customer satisfaction, and other key factors to help you make an informed decision.
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History and Background of Fidelity Life Association
Fidelity Life Association began as a fraternal benefit society in 1896, offering life insurance to its members. Over the decades, it has grown into a leading provider of life insurance, emphasizing affordability and ease of access. The company was one of the first to introduce paperless applications, streamlining the process of obtaining coverage.
As of 2021, Fidelity Life had $39 billion in life insurance policies in force, demonstrating its substantial market presence. Licensed in Washington, D.C., and all states except Wyoming and New York, Fidelity Life continues to serve everyday Americans with policies designed to provide peace of mind.
Types of Life Insurance Policies Offered
Fidelity Life offers a range of life insurance policies to suit various needs and budgets. Below is a detailed overview of each type, including coverage amounts, eligibility requirements, and key features.
Term Life Insurance
- What it is: Term life insurance provides coverage for a specific period, such as 10, 20, or 30 years. If the insured passes away during the term, the death benefit is paid to the beneficiaries, typically income-tax-free.
- Coverage amounts: Ranges from $5,000 to $2 million, depending on the policy.
- Eligibility: Available to a wide range of ages, though specific age limits may vary.
- Best for: Individuals needing temporary coverage, such as to cover a mortgage, support dependents until they’re independent, or protect against financial obligations.
- Key feature: Many term policies under Fidelity Life’s RAPIDecision program do not require a medical exam, making them ideal for those with health concerns or those seeking quick coverage. However, premiums may increase if a medical exam is skipped, as rates are based on health and lifestyle factors.
Whole Life Insurance
- What it is: Whole life insurance offers lifelong coverage as long as premiums are paid. It also accumulates cash value over time, which can be borrowed against or used to pay premiums.
- Coverage amounts: Up to $2 million.
- Eligibility: Available to individuals aged 18 and above.
- Best for: Those seeking permanent coverage with the added benefit of cash value accumulation for future financial needs.
- Key feature: Like term policies, many whole life policies do not require a medical exam, increasing accessibility. The cash value grows at a guaranteed rate, providing a savings component in addition to the death benefit.
Final Expense Insurance
- What it is: Final expense insurance is designed to cover end-of-life expenses, such as funeral costs, medical bills, or other debts, relieving loved ones of financial burdens.
- Coverage amounts typically range between $5,000 and $25,000.
- Best for: Seniors who want to ensure their final expenses are covered without placing a burden on their families.
- Key feature: These policies often waive medical exams, making them more accessible to older adults or those with pre-existing health issues. The smaller coverage amounts keep premiums affordable.
Guaranteed Issue Life Insurance
- What it is: Guaranteed issue life insurance requires no medical exam or health questions, ensuring acceptance for eligible applicants.
- Coverage amounts: Up to $25,000.
- Eligibility: Available for individuals aged 50 to 85.
- Best suited for: Individuals with significant health issues who may not qualify for other types of life insurance.
- Key feature: Guaranteed acceptance is a significant draw, but these policies often have a graded death benefit. This means the full death benefit may not be paid if the insured passes away within the first few years (typically two years), with premiums refunded instead.
Policy Riders
Fidelity Life offers several riders to customize coverage:
- Accidental Death Benefit Rider: Increases the death benefit if the insured dies in a covered accident, such as a car crash.
- Child Life Insurance Rider: Provides coverage for children until they reach a certain age (e.g., 23) or the policy term ends.
- Accelerated Death Benefit Rider: This rider allows policyholders to access a portion of the death benefit if they are diagnosed with a terminal illness, helping to cover medical or other expenses.
| Policy Type | Coverage Range | Age Eligibility | Medical Exam Required? | Best For |
| Term Life | $5,000–$2 million | Varies | Often not required | Temporary coverage needs |
| Whole Life | Up to $2 million | Up to 85 | Often not required | Permanent coverage, cash value |
| Final Expense | $5,000–$25,000 | Varies | Often not required | Covering end-of-life expenses |
| Guaranteed Issue | Up to $25,000 | 50–85 | Not required | Those with health issues |
Financial Strength and Stability
A life insurance company’s financial strength is critical, as it indicates its ability to pay claims. Fidelity Life Association holds an A- (Excellent) financial strength rating from AM Best, a leading credit rating agency for insurers. This rating reflects strong capital adequacy, operating performance, and risk management. However, AM Best revised its outlook to negative in 2022, indicating potential long-term challenges in maintaining this rating.
The rating, while not the highest (A++ is the top tier), still indicates that Fidelity Life is financially stable and likely to meet its obligations. As of 2021, the company had $39 billion in life insurance policies in force, underscoring its significant market presence.
Customer Satisfaction and Reviews
Customer satisfaction is a key factor when choosing a life insurance provider. Fidelity Life has received mixed feedback across various platforms, with both positive and negative experiences reported.
Positive Feedback
On Trustpilot, Fidelity Life has a 4-star rating based on 1,484 reviews. Customers often praise the company’s easy application process and supportive agents. One reviewer noted, “Peter’s kindness and patience with me and my family during the entire process, from the beginning to the end, was impeccable.” Another said, “I didn’t feel pressured into purchasing knowing there are other companies out there,” highlighting the non-pushy sales approach.
Negative Feedback
Despite positive reviews, Fidelity Life has a higher-than-average number of complaints. The National Association of Insurance Commissioners (NAIC) complaint index for Fidelity Life is 1.68, based on data from 2021 to 2023. The NAIC index measures complaints relative to a company’s size, with a value of 1.00 representing the industry average. A score of 1.68 indicates more complaints than expected, with common issues including difficulties canceling policies and delays or disputes over cash value payouts.
The Better Business Bureau (BBB) gives Fidelity Life an A+ rating, but the company has 50 complaints on record. These complaints often involve policy changes, claim denials, or poor customer service communication. Business Insider notes mixed BBB reviews, averaging 3.29 stars, with some customers praising the claims process but others reporting unresponsive agents.
Summary of Customer Feedback
| Platform | Rating/Score | Key Feedback |
| Trustpilot | 4 stars (1,484 reviews) | Easy application, helpful agents |
| NAIC Complaint Index | 1.68 (2021–2023) | Higher-than-average complaints |
| BBB | A+ (50 complaints) | Mixed reviews, issues with cancellations, and service |
How to Get a Quote and Purchase a Policy
Fidelity Life makes it easy to get a quote and apply for a policy. You can start online by visiting their website and entering details like age, ZIP code, gender, employment status, and health condition. This generates estimated rates for RAPIDecision policies, which are designed for quick approval, often without a medical exam. For personalized assistance, you can contact an agent at 866-515-1736. Fidelity Life works with independent agents who may also offer policies from other insurers.
Please note that Fidelity Life is not licensed in Wyoming or New York; therefore, residents of these states should seek alternative providers.
Claims Process
To file a claim, visit Fidelity Life’s website and download the claim form for your state (Fidelity Life Support). Please complete the form and submit it along with a certified copy of the death certificate. The company aims to process claims efficiently, although timelines vary based on the claim’s complexity and the required documentation. For assistance, contact customer service by phone or email at service@fidelitylife.com.
Is Fidelity Life Insurance Good?
Whether Fidelity Life Insurance is “good” depends on your needs and priorities. The company offers a variety of policies, including term life, whole life, final expense, and guaranteed issue, making it a strong option for seniors or those seeking coverage with no medical exam required. It holds an A- (Excellent) AM Best rating, which indicates financial reliability, and many customers appreciate the quick and paperless application process.
However, the NAIC complaint index of 1.68 and 50 BBB complaints indicate challenges, particularly with policy cancellations and customer service. If you prioritize affordability and ease of access, especially for senior-focused policies, Fidelity Life may be a good fit. Still, it’s wise to review policy terms carefully and consider comparing quotes from other insurers to ensure the best coverage for your needs.
Fidelity Life Insurance is best suited for individuals who value simplicity, quick approvals, and options tailored to seniors. Thorough research and due diligence are essential to confirm it meets your expectations for protecting your loved ones.
