Fidelity Life Insurance: Benefits and Coverage Options

Fidelity Life Insurance is a reputable insurance provider that has been in the industry since 1896. Over the years, Fidelity Life Insurance has been providing individuals and families with comprehensive life insurance coverage. The company has an exceptional customer service department that is always available to answer questions and provide assistance. This article provides a comprehensive overview of Fidelity Life Insurance, including the benefits and coverage options available.

Why Choose Fidelity Life Insurance?

When it comes to choosing a life insurance provider, many people are overwhelmed by the many options available. However, Fidelity Life Insurance stands out from other providers due to the numerous benefits it offers. Some of the reasons why you should consider choosing Fidelity Life Insurance include:

• Experience: Fidelity Life Insurance has been in the industry for over 125 years, making it one of the most experienced providers.
• Financial Stability: The company has an A- rating from A.M. Best, indicating that it is financially stable and capable of honoring its obligations.
• Flexible Coverage Options: Fidelity Life Insurance offers a wide range of coverage options, making it easy for individuals and families to find a policy that meets their unique needs.
• Competitive Rates: Fidelity Life Insurance offers affordable rates, making it accessible to individuals from different income levels.

Types of Life Insurance Offered by Fidelity Life Insurance

Fidelity Life Insurance offers various types of life insurance options that cater to different needs. The type of policy you choose depends on factors such as age, income, and health status. Below are the different types of life insurance policies offered by Fidelity Life Insurance:

Term Life Insurance

Term life insurance is a type of policy that provides coverage for a specified period, usually between 10 and 30 years. The premiums on term life insurance policies are typically lower than those of permanent life insurance policies. However, once the term expires, the coverage ends, and the policyholder must renew the policy or purchase a new one.

Term life insurance is an excellent option for individuals who need temporary coverage, such as those with young children and a mortgage. Fidelity Life Insurance offers term life insurance policies with coverage amounts ranging from $50,000 to $1 million.

Whole Life Insurance

Whole life insurance is a permanent life insurance policy that provides coverage for the policyholder’s entire life. Whole life insurance policies have higher premiums than term life insurance policies, but they also offer cash value accumulation. The cash value can be borrowed against or used to supplement retirement income.

Whole life insurance is an excellent option for individuals who want permanent coverage and a savings component. Fidelity Life Insurance offers whole life insurance policies with coverage amounts ranging from $50,000 to $1 million.

Accidental Death Benefit Insurance

Accidental death benefit insurance is a type of policy that provides coverage in case of accidental death. This type of insurance is typically added as a rider to a primary policy. The policy pays out the full death benefit in case of accidental death, in addition to any other benefits provided by the primary policy.

Accidental death benefit insurance is an excellent option for individuals who engage in high-risk activities or have hazardous jobs. Fidelity Life Insurance offers accidental death benefit insurance coverage amounts ranging from $50,000 to $500,000.

Benefits of Fidelity Life Insurance

Fidelity Life Insurance offers numerous benefits to policyholders. Below are some of the benefits of choosing Fidelity Life Insurance:

No Medical Exam Required

Fidelity Life Insurance offers policies that do not require a medical exam. This makes it easy for individuals to get the coverage they need without undergoing a medical examination.

Accelerated Death Benefit

The accelerated death benefit allows policyholders with terminal or chronic illnesses to access a portion of their death benefits before passing away. This helps cover medical expenses and other costs that one may incur due to the illness.

Guaranteed Issue Option

Fidelity Life Insurance offers a guaranteed issue option for people aged 50-85. This means that provided the applicant meets the age requirement, they cannot be denied coverage due to their health status.

30-Day Money-Back Guarantee

Fidelity Life Insurance offers a 30-day money-back guarantee. This allows policyholders to cancel their policy within 30 days of purchase and receive a full refund if they are not satisfied with the coverage.

FAQ

What is the Process of Applying for Fidelity Life Insurance?

The process of applying for Fidelity Life Insurance is straightforward. You can visit the company’s website and fill out an online application form or speak to a representative on the phone. You will be required to provide personal information, such as your name, age, and health status. Once you submit your application, Fidelity Life Insurance will review it and provide a quote.

How Much Coverage Can I Get with Fidelity Life Insurance?

Fidelity Life Insurance offers coverage amounts ranging from $50,000 to $1 million, depending on the type of policy you choose. You can speak to a representative to determine the coverage amount that best suits your needs.

What Happens if I Miss a Premium Payment?

If you miss a premium payment, Fidelity Life Insurance provides a grace period of between one and 30 days depending on your state of residence. If you fail to make the payment during the grace period, your policy will lapse, and you will lose coverage.

Can I Cancel My Fidelity Life Insurance Policy?

Yes, you can cancel your Fidelity Life Insurance policy at any time. However, you should note that you may be required to pay a surrender fee, depending on the type of policy and the length of time you have had the policy.

Do I Need a Medical Exam to Qualify for Fidelity Life Insurance?

Fidelity Life Insurance offers policies that do not require a medical exam. However, the policy premiums may be higher than those that require a medical exam. You can speak to a representative to determine the best policy option for you.

Conclusion

Fidelity Life Insurance is a reputable insurance provider that offers a range of coverage options to meet the needs of different individuals and families. The company has been in the industry for over 125 years, making it one of the most experienced providers. Fidelity Life Insurance offers numerous benefits, including flexible coverage options, competitive rates, and exceptional customer service. If you’re in the market for life insurance coverage, Fidelity Life Insurance is an excellent option to consider.