Fidelity's Life Insurance Offerings: What You Need To Know

Fidelity offers a range of life insurance options, including term life insurance and whole life insurance. Term life insurance covers individuals for a specific amount of time, while whole life insurance is a type of permanent life insurance that covers individuals for their entire lives. Fidelity's life insurance policies are available to US citizens and permanent residents aged 18 and above, with some policies aimed at seniors. The company also provides accidental death coverage and riders that can be added to life insurance policies.

Fidelity's term life insurance

Fidelity offers term life insurance policies that cover individuals for a specific amount of time, chosen by the policyholder, for a predetermined dollar amount. This coverage serves as a safety net for a period of years and can provide financial security to loved ones if something happens to the policyholder.

Fidelity's whole life insurance

Fidelity offers both term life insurance and whole life insurance. Whole life insurance is a type of permanent life insurance, which means it generally provides coverage for your entire life. It often includes fixed premiums and a guaranteed cash value and payout amount.

Whole life insurance is ideal for those who want to be covered for their entire lifetime and want to transfer wealth to their heirs. It can also be helpful for loss of income.

• Coverage Limits: The coverage limits for whole life insurance policies range from $5,000 to $150,000. The RAPIDecision Final Expense policy offers coverage between $5,000 and $40,000, while the RAPIDecision Senior Whole Life policy provides coverage from $10,000 to $150,000.
• Age Restrictions: All whole life insurance policies are limited to individuals between the ages of 50 and 85. The RAPIDecision Senior Whole Life policy is specifically designed for seniors aged 50 to 85.
• Medical Exams: Most of Fidelity's whole life insurance policies do not require a medical exam for approval. However, the RAPIDecision Senior Whole Life policy may require a medical exam if further clarification of your medical history is needed.
• Riders: Fidelity offers several riders that can be added to your whole life insurance policy, such as the accelerated death benefit rider, family accidental death benefit rider, and child rider. These riders provide additional coverage and benefits in the event of accidental death, terminal illness, or the death of a child.
• Premiums: The cost of whole life insurance premiums depends on various factors, including age, gender, health status, and lifestyle choices. Fidelity provides an online quote tool to help you estimate the cost based on your personal information.

Fidelity's universal life insurance

Universal Fidelity Life Insurance Company (UFLIC) is a life insurance company that has been serving individuals and employers since 1935. The company is based in Oklahoma City, with an administrative service center in Duncan, Oklahoma. UFLIC offers a range of insurance products, including life, health, and accident insurance, as well as Medicare Supplement Insurance and student accident insurance. They also provide Third-Party Administrator services to other insurance companies.

UFLIC's mission is to provide high-quality, affordable life and health insurance solutions that protect the well-being and budgets of their clients. The company's core values include integrity, leadership, affiliations, service, and innovation.

In terms of financial strength, UFLIC has received an A+ (Excellent) rating from the Better Business Bureau (BBB) and a "B" (Fair) rating from AM Best. This indicates that the company is financially stable and secure.

UFLIC offers four Medicare Supplement plans: Plan A, Plan N, Plan G, and Plan F. These plans help cover the costs of Medicare Part A and B, including coinsurances, deductibles, copayments, and Part B excess charges. Additionally, their Medicare Supplement insurance can assist with hospital, foreign travel emergencies, and skilled nursing facility coinsurance. It's important to note that Medigap plans are only offered in four states: Arizona, Mississippi, Oklahoma, and Texas.

UFLIC also provides life insurance solutions, with coverage amounts ranging from $5,000 to $2 million, depending on the policy type. Their life insurance policies are available to individuals up to the age of 85.

Overall, Universal Fidelity Life Insurance Company is a well-established, financially secure insurance provider offering a range of insurance products and services to meet the needs of their clients.

Fidelity's permanent life insurance

Fidelity Life Insurance, founded in 1896, offers permanent and term life insurance policies. The company is based in Chicago and works with its sister company, eFinancial, to provide quotes and plans for individuals. It is important to note that Fidelity Life Insurance is not associated with Fidelity Investments.

Fidelity Life Insurance offers both term and permanent life insurance policies. Permanent life insurance, also known as whole life insurance, covers an individual for their entire lifetime, with fixed premiums and a guaranteed cash value and payout amount.

Fidelity Life's permanent life insurance policies include the RAPIDecision Final Expense, RAPIDecision Guaranteed Life Issue, and RAPIDecision Senior Whole Life plans. These policies are designed for adults aged 50 to 85, with coverage amounts ranging from $5,000 to $150,000. The RAPIDecision Final Expense policy is ideal for those who want to cover end-of-life expenses without undergoing a medical exam, while the RAPIDecision Guaranteed Issue Life policy is suitable for those with pre-existing health conditions. The RAPIDecision Senior Whole Life policy allows adults to build cash value and only requires answers to medical questions for approval.

When purchasing permanent life insurance from Fidelity Life, individuals can choose from various riders, including the accidental death benefit rider, family accidental death benefit rider, accelerated benefit rider, child rider, inflation rider, and return of premium insurance rider.

The cost of permanent life insurance from Fidelity Life depends on several factors, including age, gender, location, medical history, smoking habits, lifestyle, and hobbies. Permanent life policies tend to be more expensive than term policies due to their permanent coverage and cash value accumulation.

In summary, Fidelity Life Insurance offers a range of permanent life insurance options with different coverage amounts, eligibility requirements, and features to meet the diverse needs of its customers.

Fidelity's life insurance for seniors

Fidelity offers a range of life insurance options for seniors. Their term life insurance policies are available to those 18 years and older, with no upper age limit specified. The RAPIDecision Senior Life policy is available to adults between the ages of 50 and 70 and can be renewed for a certain time period or until the policyholder turns 80. The RAPIDecision Senior Whole Life policy is available to adults aged 50 to 85 and offers coverage from $10,000 to $150,000.

Fidelity's term life insurance for seniors does not require a medical exam. The quote and approval process hinges on two things: health questions answered in the application and public data sources such as a Motor Vehicle Report (MVR). The application can be completed online in as little as 15-20 minutes and covers identity verification, contact information, employment, prescriptions, medical conditions, smoking status, and activities.

Fidelity also offers whole life insurance policies for seniors. The RAPIDecision Final Expense policy is ideal for those who do not wish to take a medical exam but are comfortable answering health questions and allowing Fidelity to access public health databases to qualify them. This policy is available to adults aged 50 to 85 and offers coverage from $5,000 to $40,000. The RAPIDecision Guaranteed Issue policy is another whole life insurance option for seniors, covering individuals aged 50 to 85 with no medical exam, health questions, or public database health search required. The coverage for this policy maxes out at $25,000.

Fidelity's life insurance policies for seniors provide several options for those looking to leave behind money for final expenses or provide a financial cushion for their beneficiaries. The company is highly rated, with an A+ financial strength rating, and has been supporting families since 1987.

Frequently asked questions