2024 Fidelity Life Burial Insurance Review – Pros & Cons
last updated on July 22, 2024Our Fidelity Life burial insurance review will provide you with everything you need to know about their final expense products.
We will break down their final expense insurance products to know if it’s right for you.
We hope you will be able to choose the right company and the right product to ensure your family’s financial security. If you are considering buying burial insurance, then our Fidelity Life burial insurance review will help you decide.
| FIDELITY LIFE FUNERAL FUNDS 5-STAR RATING | |
|---|---|
| First-day Coverage | ★★★★★ |
| Ease of Approval | ★★★★ |
| Coverage Amount | ★★★★ |
| Pricing | ★★★ |
| Riders | ★★ |
FOR EASIER NAVIGATION:
- Does Fidelity Life Offer First-day Coverage?
- Pros of Fidelity Life Burial Insurance
- Cons of Fidelity Life Burial Insurance
- Fidelity Life Burial Insurance Products
- Fidelity Life Burial Insurance Riders
- When Does Fidelity Life Burial Insurance Make the Most Sense?
- Fidelity Life Underwriting Guidelines
- Fidelity Life Pricing Examples
- Getting Approved for Fidelity Life Burial Insurance
- The Best Payment Option
- Fidelity Life Company Overview
- How Can Funeral Funds Help Me?
- Additional Questions & Answers On Fidelity Life Burial Insurance Review
Does Fidelity Life Offer First-day Coverage?
YES, Fidelity Life has a burial insurance plan that offers first-day coverage, but they tend to be more expensive than other companies.
If you qualify, their RapiDecision final expense plan will cover you from day one. Once approved, the company will pay a 100% death benefit when you pass away.
Pros Of Fidelity Life Burial Insurance
Quick and easy application process – their electronic application system makes it faster to get coverage.
Higher coverage amount – you can buy up to $35,000 face amount
Cons Of Fidelity Life Burial Insurance
Designed for people with minor health issues only – it is not suitable for applicants with significant medical conditions.
Has a height and weight chart – you may not qualify if you are overweight
RapiDecision guaranteed issue has a three-year waiting period – before the policy will pay for a natural cause of death. Most guaranteed issue plans have a two-year waiting period.
Fidelity Life Burial Insurance Products
Fidelity Life offers two burial insurance options for 50 years or older applicants.
They call their final expense plans RAPIDecision, which include:
- RAPIDecision Final Expense
- RAPIDecision Guaranteed Issue
RapidDecision burial insurance only requires a couple of business days to approve and activate.
RAPIDECISION FINAL EXPENSE
It is a simplified issue of whole life insurance that offers first-day coverage and full benefit payout for those 50 to 85 years old. The approval for the final expense product is based on answers to the health questions.
The RapiDecision Final Expense by Fidelity Life is designed for simplified underwriting and fast approval. This plan accepts healthy applicants and those with minor health issues like high blood pressure or cholesterol.
PRODUCT FEATURES:
- Simplified issue whole life
- Issue Ages: 50-85 (age last birthday)
- The death benefit is guaranteed level through age 120
- Benefits Schedule: Level benefit first-day coverage
- The guaranteed level premium that will not increase
- Cash value builds up over time
- Reduced paid-up insurance available
- Face Amounts: $5,000 to $35,000
RAPIDECISION GUARANTEED ISSUE
The guaranteed issue is a no medical questions and no medical exam policy available from Fidelity Life. It requires no medical underwriting, and all applicants within the age requirement of 50-85 years old are approved.
This burial insurance plan is viable for those who want minimal coverage quickly.
Applicants who have previously declined insurance coverage because of health issues can choose this product. The application process is straightforward because it does not require a health exam or questions to determine eligibility.
Only qualifying question on the application for a 3-year waiting period:
- Within the past 12 months, have you used tobacco or any other product that contains nicotine?
If you answer YES to this qualifying question, you will be charged a tobacco rate. Tobacco and the non-tobacco rate are determined by using any tobacco or nicotine products in the past 24 months.
PRODUCT FEATURES:
- Issue Ages: 50-85 (age last birthday)
- The death benefit is guaranteed level until the maturity age of 120
- Benefits Schedule: Graded death benefit with a 3-year waiting period
- The guaranteed level premium that will not increase
- Cash value builds up over time
- Reduced paid-up insurance available
- Face Amounts: $5,000 to $20,000
The guaranteed issue plan with Fidelity has a cash value component. It also has a reduced paid-up option where you can stop paying and still be covered for the rest of your life. This policy expires at age 121.
GRADED DEATH BENEFIT
RapiDecision guaranteed issue plan comes with a graded death benefit or waiting period. The death benefit payout is reduced during the first three years of the policy.
If you pass away during the three-year waiting period due to illness, your beneficiary will receive only the premiums you paid plus 5% interest.
100% of the face amount is only paid for accidental death, even during the waiting period. In the 4th year and beyond, the full death benefit will be paid for all causes of death.
Fidelity Life Burial Insurance Riders
RapiDecision Final Expense comes with an Accelerated Death Benefit (ADB) at no additional cost. ADB advances a portion of the death benefit when you show proof that you have a life expectancy of 12 months or less.
The amount you will get will be treated as a loan against your death benefit amount. The monthly interest of the loan is equal to 7% annually. The maximum amount you can get is equal to 50% of your face amount.
REQUIREMENTS:
1. You must be a U.S. citizen to apply. Those with permanent resident status or green card and residing in the U.S can apply for this plan.
2. Applicants living in the country on a temporary visa are not qualified to apply.
OTHER BENEFITS:
POLICY LOANS – you can borrow up to 100% of your cash value. This is tax-free. Loans reduce your cash value amount and are subtracted from your death benefit. The interest on policy loans varies by state.
When Does Fidelity Life Burial Insurance Make The Most Sense?
Buying Fidelity Life insurance makes the most sense if you can qualify for their final expense plan with first-day coverage. To qualify, you must be healthy or have minor health issues like high blood pressure or high cholesterol.
Do not go through their guaranteed issue burial insurance; it is not worth your money because it has a three-year waiting period. Most companies offering guaranteed issue plan only come with a two-year waiting period.
Fidelity Life Underwriting Guidelines
Applicants must answer NO to all the health questions on the application to qualify for first-day coverage. In addition to the application questions, the company checks the applicant’s pharmacy history, Medical Information Bureau file, Motor Vehicle Record, and the company’s build chart.
RAPIDECISION FINAL EXPENSE HEALTH QUESTIONS
For the RapiDecision Final Expense, the following questions must be answered NO.
If you answer YES to any questions, you do NOT qualify for the Rapid Decision Final Expense and may be offered RapiDecision Guaranteed Issue instead.
1. Are you currently on oxygen for a medical condition or confined to a nursing facility or assisted living facility? (Yes – No)
2. Within the past six months, have you been hospitalized two or more times, or have you been advised by a member of the medical profession to have any hospitalization or to be admitted to a nursing facility that has not yet been completed? (Yes – No)
3. Have you been diagnosed by a member of the medical profession as having a life expectancy of 24 months or less? (Yes – No)
4. Have you ever been diagnosed by a member of the medical profession as having Acquired Immune Deficiency Syndrome (AIDS) or AIDS Related Complex (ARC) or tested positive for Human Immunodeficiency Virus (HIV)? (Yes – No)
5. Within the past 5 years, have you been convicted of any
felony or driving under the influence of alcohol or drugs?
6. Within the past two years, have you been diagnosed with, consulted a member of the medical profession, or been treated for:
a) heart attack, stroke, chest pain, coronary artery disorder, Transient Ischemic Attack (TIA), or any other disorder of the heart, blood vessels, or peripheral vascular system? (Yes – No)
b) Chronic Obstructive Pulmonary Disease (COPD), emphysema, or any other respiratory disorder other than asthma? (Yes – No)
c) kidney disorder, liver disorder, any organ transplant, or diabetic complications (amputation, coma, or blindness)? (Yes – No)
d) Alzheimer’s disease, dementia, organic brain syndrome, cognitive impairment (of any degree), or Amyotrophic Lateral Sclerosis (ALS)? (Yes – No)
e) cancer (other than basal cell skin cancer)? (Yes – No)
7. Within the past two years, have you been counseled, treated, advised to discontinue or seek treatment for the use of illegal drugs, alcohol, or prescription drugs? (Yes – No)
8. Within the past two years, have you been hospitalized for a mental disorder? (Yes – No)
9. Within the past two years, have you been advised by a member of the medical profession to have any medical test (other than related to HIV/AIDS? That has not yet been completed? (Yes – No)
If you answered YES to any of these health questions, the company would offer you a RapiDecision Guaranteed Issue plan.
Fidelity Life Pricing Examples
| FEMALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $12.44 | $24.89 | $37.34 | $49.79 | $62.24 |
| 55 | $15.07 | $30.15 | $45.23 | $60.30 | $75.38 |
| 60 | $18.40 | $36.80 | $55.20 | $73.60 | $92.00 |
| 65 | $22.82 | $45.64 | $68.47 | $91.29 | $114.12 |
| 70 | $28.82 | $57.64 | $86.46 | $115.29 | $144.11 |
| 75 | $38.13 | $76.26 | $114.39 | $152.52 | $190.66 |
| 80 | $57.32 | $108.65 | $162.98 | $217.30 | $271.63 |
| MALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $16.82 | $33.65 | $50.47 | $67.30 | $84.12 |
| 55 | $20.32 | $40.64 | $60.96 | $81.29 | $101.61 |
| 60 | $25.82 | $47.64 | $71.47 | $95.29 | $119.12 |
| 65 | $28.82 | $57.64 | $86.46 | $115.29 | $144.11 |
| 70 | $36.57 | $73.14 | $109.72 | $146.29 | $182.87 |
| 75 | $50.32 | $100.65 | $150.97 | $201.30 | $251.62 |
| 80 | $71.32 | $142.65 | $213.98 | $285.30 | $356.63 |
Getting Approved For Fidelity Life Burial Insurance
| BURIAL INSURANCE APPLICATION PROCESS | |
|---|---|
| Rates & coverage | Agent can help provide help with this |
| Underwriting | Agent will help you qualify for the best plan |
| Beneficiary | You determine who will get your death benefit |
| Application | Agent submits application to insurance company |
| Approval | Congratulations on your new policy! |
| Policy start date | Policy active after 1st payment date |
| Policy delivery | 7-10 business days after first draft date |
The Best Payment Option
| PAYMENT METHOD | RECOMMENDED? |
|---|---|
| Savings Account | Best way to pay |
| Checking Account | Best way to pay |
| Cash | Not recommended |
| Money Order | Not recommended |
| Cashier's Check | Not recommended |
| Debit Card | Not recommended |
| Credit Card | Not recommended |
| Direct Express | Not recommended |
| PAYMENT FREQUENCY | RECOMMENDED | ACCEPTED BY |
|---|---|---|
| Monthly | Recommended | All Companies |
| Quarterly | Not Recommended | Some Companies |
| Semi-annually | Not Recommended | Some Companies |
| Annually | Not Recommended | Some Companies |
Fidelity Life Company Overview
Fidelity Life was founded in 1896. It is originally called Mystic Workers of the World, a fraternal benefit society providing insurance coverage to active workforce members. In 1930, the company changed its name to Fidelity Life Association.
In the 1950s, Fidelity Life changed its business model into a mutual legal reserve. They continued to operate this for the next 50 years.
In 2005, Fidelity Life reverted to being an independent life insurance company.
Then in 2007, the company reorganized into a stock company under the supervision of the Members Mutual Holding Company. They have remained this way for over a decade and continue providing innovative life insurance products.
FIDELITY LIFE ASSOCIATION FINANCIAL RATINGS
One of the first things you should consider when choosing a life insurance company is its financial stability. Fidelity Life is financially stable and has been in business for over a century. They had been awarded A- or Excellent by A.M. Best, one of the top insurance rating agencies in the U.S.
The Better Business Bureau (BBB) gave Fidelity Life an “A” customer service rating.
How Can Funeral Funds Help Me?
Finding a policy if you want Fidelity burial insurance needn’t be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker.
We will work with you every step to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time searching for multiple insurance companies anymore because we will do the dirty work for you.
We work with many A+ rated insurance carriers that specialize in covering high-risk clients like you. We will search all those companies and match you with the best burial insurance company that gives the best rate.
We will assist you in securing the coverage you need at a rate you can afford if you are looking for Fidelity Life funeral insurance, Fidelity Life burial insurance, or Fidelity life insurance.
Fill out our quote form on this page or call us at (888) 862-9456, and we can give you an accurate quote.
Additional Questions & Answers On Fidelity Life Burial Insurance Review
Is Fidelity Life Insurance still in business?
Yes, Fidelity Life Insurance Company is still in business and has an A.M. Best rating of “A-” Excellent.
Is Fidelity Life Insurance legitimate?
Fidelity Life Insurance Company is a legitimate life insurance company that has been in business since 1896. The company is currently rated “A-” Excellent by A.M. Best.
How long has Fidelity Life been in business?
Fidelity Life Insurance Company has been in business since 1896.
What is Fidelity Life’s financial rating?
Fidelity Life Insurance Company is currently rated “A-” Excellent by A.M. Best.
What is Fidelity Life’s website?
The website for Fidelity Life Insurance Company is www.fidelitylife.com.
What is Fidelity Life insurance phone number?
The phone number for Fidelity Life Insurance Company is (800)-369-3990.
What is Fidelity Life’s customer service number?
The customer service number for Fidelity Life Insurance Company is (800)-369-3990.
What is Fidelity Life’s email address?
The email address for Fidelity Life Insurance Company is service@fidelitylife.com.
What are the hours of operation for Fidelity Life
Monday through Friday, 8 a.m. – 5 p.m. CT
What is Fidelity Life’s members’ login?
Fidelity Life’s members’ login is https://www.fidelitylife.com/member-login/.
Where is Fidelity Life located?
Fidelity Life’s corporate headquarters is located in Chicago, IL.
What is Fidelity Life corporate address?
8700 W. Bryn Mawr Avenue
Suite 900S
Chicago, IL 60631
What is Fidelity Life mailing address?
P.O. Box 5030
Des Plaines, IL 60017
Where can I find Fidelity Life insurance reviews?
Continue reading to learn how Fidelity Life measures up to the competition.
Where can I find Fidelity Life BBB reviews?
Check out BBB reviews here https://www.bbb.org/us/il/chicago/profile/life-insurance/fidelity-life-association-0654-88013237/customer-reviews
How can I get a Fidelity Life insurance quote?
Fill in the quote form on this page to get a quote from Fidelity Life.
How can I make Fidelity Life insurance online payment?
Fidelity Life offers policyholders the option to make payments online. To make a payment, visit https://www.fidelitylife.com/payment-options and click on the “Make a Payment” button. You will need to have your policy number and payment method information available.
How can I access Fidelity Life insurance claim form?
Fidelity Life offers an online claim form for policyholders. To access the form, visit https://www.fidelitylife.com/claims and click on the “Submit a Claim” button. You will need to have your policy number and other claim information available.
What is Fidelity Life’s claims number?
The Fidelity Life claims department can be reached at (800) 369-3990.
Where can I check Fidelity Life insurance complaints?
Check out complaints here https://www.bbb.org/us/il/chicago/profile/life-insurance/fidelity-life-association-0654-88013237/complaints
What are the different life insurance products offered by Fidelity Life?
Fidelity Life offers several life insurance products, including term life insurance, whole life insurance, and final expense life insurance.
What states is Fidelity Life licensed to sell insurance in?
Fidelity Life Insurance Company is licensed to sell insurance in all 50 states.
How old do you have to be to apply for Fidelity Life insurance coverage?
The minimum age to apply for coverage with Fidelity Life is 18. However, some products have different age requirements.
Can you get first-day coverage with Fidelity Life?
Fidelity Life offers immediate coverage for most of its products.
What are the pros and cons of Fidelity Life insurance?
PRO:
- Fidelity Life has been in business for over 120 years and is a financially stable company.
- Fidelity Life offers a variety of life insurance products to meet different needs.
- Fidelity Life is licensed to sell insurance in all 50 states.
- Coverage with Fidelity Life can begin on the day you apply.
- The company has a good BBB rating.
CON:
- Fidelity Life does not offer health insurance.
- Premiums are on the expensive side when compared to other life insurance companies.
- The online payment process is a bit complicated.
- Claims can only be filed through the mail or over the phone.
How much life insurance can you get with Fidelity Life insurance?
Fidelity Life offers whole life insurance coverage up to $1,000,000 and $35,000 for final expense insurance.
What is the maximum age for Fidelity Life insurance?
The maximum age for coverage with Fidelity Life is 80.
What does Fidelity Life insurance cost?
Fidelity Life insurance premiums are on the expensive side when compared to other life insurance companies.
Does Fidelity Life offer riders?
Yes, Fidelity Life offers a variety of riders, including a waiver of premium rider, an accidental death and dismemberment rider, and a children’s term rider.
Do I need to take a medical exam for coverage with Fidelity Life?
No, you do not need to take a medical exam to apply for coverage with Fidelity Life.
Where can I get Fidelity Life insurance pricing?
Fill out the quote form on this page to get Fidelity Life insurance pricing.
Is Fidelity Life insurance expensive?
Fidelity Life insurance premiums are on the expensive side when compared to other life insurance companies.
Does Fidelity Life ask health questions?
Yes, Fidelity Life will ask health questions when you apply for coverage.
Does Fidelity Life have a waiting period?
Fidelity Life guaranteed issue life insurance has a three-year waiting period.
Does Fidelity Life insurance accumulate cash value?
Fidelity Life’s whole life insurance policies accumulate cash value.
What other benefits does Fidelity Life offer?
Fidelity Life offers different riders additional benefits.
Does Fidelity Life insurance expire?
No, Fidelity Life’s whole life insurance does not expire.
What is Fidelity Life’s death benefit?
The death benefit is the amount of money paid to your beneficiaries in the event of your death.
How can I find a replacement for my Fidelity Life insurance policy?
There are a few ways to find a replacement for your Fidelity Life insurance policy. You can contact one of our agents to know your options.
How do I cancel my Fidelity Life insurance policy?
To cancel your Fidelity Life insurance policy, you must contact the company and request a cancellation form. Once the form is filled out and returned, your policy will be canceled.
