Fidelity Life Insurance Company Review

Is the ease of obtaining a policy worth the extra cost? Fidelity life’s rapid issue term, whole life, final expense, and accidental plans.
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Written by Brian Greenberg
CEO / Founder & Licensed Insurance Agent

Last updated: July 18th, 2022

Reviewed by Grant Desselle
Licensed Insurance Agent

Our take on Fidelity Life

Founded in 1896, Fidelity Life Association provides a variety of life insurance options, including some products aimed at seniors. Currently, they operate out of Illinois, but they provide products in all 50 states.

The company’s website is clean and intuitive. It offers online quotes for many of its policies.
Fidelity’s rates may be a bit high for some of their policies. We found that Fidelity is a solid choice for younger adults looking for a basic policy or for those who have trouble finding coverage through other providers.

Fidelity is especially great for seniors. While coverage tends to be limited, seniors have some flexible options that can be used for final expenses or other forms of inheritance.

A.M. Best RatingA-
S&P RatingA
BBB RatingA+
Customer Service Phone866-912-7775
AddressFidelity Life Association
8700 W Bryn Mawr Ave STE 900S
Chicago, IL 60631-3512

What we like

Great for Seniors

Fidelity provides multiple options for seniors, including several final expense life insurance policies options.

Easy-to-Use Website

Their clean, easy-to-use website is intuitive and user-friendly. It provides online quotes with just a few clicks.

No Medical Exam Options

Some policies are instant issue life insurance plans as long as you schedule a medical exam within six months. Other policies are “rapid issue”, or no medical exam life insurance plans that waive the exam requirement altogether.

What We Don’t Like

Prices Are High

Insurance customers might find more affordable life insurance rates and better coverage at a competing company.

Limited Coverage Amounts

Even for a simplified issue term life insurance policy, $150,000 is a low benefit for term life insurance. Seniors will likewise find simplified issue whole life insurance plans have limited coverages.

History of Customer Complaints

Unfortunately, Fidelity doesn’t have the best track record when it comes to customer service, receiving an above-average number of customer complaints.

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Fidelity Life Insurance Products

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Fidelity provides great options for seniors, though we’d prefer seeing higher levels of coverage for their guaranteed-issue policies.

Rapid Decision Term Life

Length of Coverage10, 15, 20, and 30-year periods
Minimum Coverage$50,000
Maximum Coverage$1 million
Estimated Time to ApprovalImmediate
Product Features
  • Delayed medical exam
  • Instant approval

Fidelity’s standard level term life insurance policy is available for those aged 18-65. It comes in 10, 15, 20, and 30-year intervals, and it offers coverage ranging from $50,000 to $1 million.

Delayed Medical Exam

Fidelity’s advantage is that coverage begins immediately with an accelerated underwriting program. Relying on data pulled from public records (e.g., the Motor Vehicle Administration, MIB insurance report, LexisNexis, and pharmacy report ), your coverage begins in minutes.

Once you receive coverage, you will be given 6 months to complete a medical exam. This exam won’t disqualify you from coverage, though it may affect your monthly premiums. Fidelity also claims that some customers won’t need a medical exam at all, though this seems to be based on age and current health status.

Rapid Decision Express

Length of Coverage10, 15, 20, and 30-year periods
Minimum Coverage$25,000
Maximum Coverage$100,000
Estimated Time to ApprovalImmediate
Product Features
  • No medical exam
  • Instant approval

Rapid Decision Express is Fidelity’s option for no-medical exam term life coverage. This policy is essentially identical to their Rapid Decision Term Life policy in that it is available for 10, 15, 20, and 30-year increments. It is available to applicants ages 18-65. However, this policy offers a much narrower span of coverage, ranging from $25,000 to $100,000.

Rapid Decision Senior Life

Length of Coverage10, 15, 20, and 30-year periods
Minimum Coverage$10,000
Maximum Coverage$150,000
Estimated Time to ApprovalImmediate
Product Features
  • Ideal for seniors
  • No medical exam
  • Could be a final expense plan

Seniors are also eligible to apply for term life coverage. Fidelity’s Rapid Decision Senior Life plan offers coverage for applicants between the ages of 50-70 and coverage periods as high as 30 years, though the exact coverage period will be limited by the applicant’s age. No medical exam is required, but there are a few health questions you must answer prior to qualifying.

Coverage ranges from $10,000 to $150,000, making this policy ideal for those looking for term life insurance that can be used as a variation of a final expense plan.

Final Expense

Fidelity does offer final expense insurance to applicants ages 50-85. This is a simple policy that requires no medical exam, though coverage will depend on a health questionnaire, as well as motor vehicle reports. Coverage ranges from $5,000 to $35,000, ideal for covering unpaid medical bills, funeral expenses, and other financial obligations.

Guaranteed-Issue Life

With Fidelity’s Guaranteed-Issue Life insurance, applicants ages 50-85 can receive up to $25,000 of coverage with no need for a medical exam or other evaluations. The death benefit is available on a limited basis for the first three years but pays in full from year four onward. The level premiums also ensure that your rates stay constant for the lifetime of the policy.

This policy is designed to be another alternative to final expense insurance, with the added benefit of not depending on health questions or an evaluation of your motor vehicle records.

Rapid Decision Senior Whole Life

Whole life insurance is available to applicants between the ages of 50 and 85, making this one of the few companies that offer whole life policies to seniors. Life insurance for seniors coverage is limited, however, to the range of $10,000 to $150,000.

Cash Value

Despite the low death benefit, this policy still accumulates cash value over time, which can be used as additional inheritance or can be borrowed against in times of need.

No Medical Exam Option

Approval depends on the answers to a few health questions and an evaluation of your motor vehicle records. In some cases, however, Fidelity may order an additional medical exam to verify your insurability.

Accidental Death Benefit

Fidelity also provides accidental death benefit insurance in the amount of $30,000 to $300,000. Coverage is available to applicants ages 20 to 59. No medical exam is required.
Keep in mind that this policy is designed for a very limited purpose and won’t cover things like terminal illness or deaths from natural causes; nor will it cover accidents in which the policyholder was under the influence of alcohol or drugs. In some cases, it will not cover accidents that happen in the line of duty, either.

For some, this policy may be a last resort after being denied other forms of life insurance. For others, this policy may supplement an existing life insurance policy—though many policies come with the option of an accidental death rider.

Policy benefits

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Fidelity offers many riders that can further customize your policy, though there is nothing terribly unique compared to other providers.


Fidelity’s riders allow you to customize your policy even further.

Common Fidelity Life riders:

  • Accidental Death Benefit Rider – This rider pays out in the event that the policyholder dies within 90 days of a qualifying accident. Full benefits are reduced after age 70, and the rider expires at age 80. A Family Accidental Death Benefit rider is available to cover the policyholder’s spouse and children.
  • Terminal Illness Rider – This rider pays a portion of your death benefit if you are diagnosed with a qualifying illness.
  • Child Rider – This rider provides coverage for children between the ages of 15 days and 18 years, though the policy will terminate on the child’s 23rd birthday.
  • Inflation Rider – With this rider, your death benefit increases by 25% after the first five years of your policy, ensuring that your death benefit maintains its purchasing power if inflation occurs.
  • Return of Premium Insurance Rider – This rider is designed for those with a stand-alone accidental death benefit. With this rider, you have the option of surrendering your policy for a partial refund of all premiums paid.
  • Free Cancellation Period – It’s not at all uncommon for insurance companies to offer a 10-day “free look” period, during which customers can surrender their policy for a full refund. Fidelity goes one step further, offering a 30-day money-back guarantee on all their products.


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Fidelity’s rates aren’t stellar compared with other companies that offer similar products, but may be of benefit to seniors faced with limited options.

Fidelity’s website provides online quotes for their term life policies:

  • Rapid Decision: $22.84 (30-year-old female with a 20-year, $250k policy)
  • Rapid Decision Express: $24.14 (30-year-old female with a 20-year, $50k policy)
  • Rapid Decision Senior Life: $44.84 (50-year-old female with a 20-year, $20k policy)

Though no medical exam is required, these premiums can fluctuate based on your answers to their health questionnaire.

Not Competitive with Other Rapid-Issue Policies

While Fidelity offers affordable life insurance rates, the coverage amounts tend to be low. This means that your overall value isn’t that competitive with other rapid-issue insurance companies.

Ideal for Seniors

Some companies have limited options for seniors. Fidelity, on the other hand, offers several great options for older customers. Seniors may find that these policies are worth the additional cost.


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Fidelity enjoys high ratings from independent review agencies.

Financial ratings

Fidelity has received strong ratings from both S&P and A.M. Best, ensuring it’s a reliable company with a financially secure future ahead.

  • S&P Rating: A-
  • A.M. Best Rating: A

Customer reviews

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Based on 0 reviews

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