Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s important that you make the best decisions for the future of your loved ones. When you’re shopping for life insurance, there are dozens of factors that you’ll need to consider to ensure that you’re getting the best rates possible. One of the most important decisions that you’ll need to make is which company that you’re going to buy the plan from.
Fidelity Life Insurance has been around since 1896 and currently holds an "A-" (excellent) holding with AM Best. (AM Best is the industry benchmark for financial strength in the life insurance industry).
Highlights of a Fidelity Life Insurance Application
- Some of the best “no medical exam” life insurance rates on the market.
- The online application takes only 20 minutes to complete.
- There is no paperwork. We send you an e-signature link and walk you through it.
- A decision is made within 48 hours of completing the application.
Keep in mind, a “no medical exam” policy, like Fidelity Life Insurance, is typically more expensive than a traditionally underwritten policy. We’ll give you both options and you can decide if it’s worth it to pay a little extra for the convenience of not taking a medical exam.
Fidelity Life Insurance company is truly a unique company in the industry. They have combined underwriting and technology to create an application process that can be completely done online. Decisions are usually made within 48 hours.
But before you make your final life insurance purchase decision, we recommend looking into some other company reviews as well, such as our reviews on Zander Insurance, Primerica Life Insurance and United Home.
How is Fidelity Life Insurance able to underwrite an application in 48 hours? Simple, on top of your answers on the Fidelity application they pull information from 3 different bureau's:
1. MIB (Medical Information Bureau) - Gives underwriting information found on other insurance applications you've submitted.
2. Pharmacy Check - They'll know all the medications you're currently taking or have taken in the past.
3. MVR - The check your motor vehicle record for DUI's, wreckless driving tickets, etc. (if you don't have a DL, Fidelity Life Insurance will not approve you)
Fidelity Life Insurance has a 10, 15, 20 and 30 year term policy they call "Rapid Decision Term". They also have a competitive graded death benefit whole life policy and an accidental death benefit policy.
If you're looking to purchase life insurance with no medical exam, Fidelity Life Insurance has some of the best rates on the market. There are other companies out there that offer no medical exam life insurance or very limited health questions.
No exam life insurance is an excellent option for a lot of people, but they are a specialized type of coverage that doesn’t work well for everyone. There are several pros and cons that you should take note of before you purchase life insurance.
The most notable advantage is that is that you can get approved for coverage much faster than you can with a traditional policy that requires a medical exam. With a no exam policy, you can get approved for life insurance in a matter of days. With a traditional insurance policy on the other hand, you could wait up to a month to get life insurance coverage. If you want to get life insurance as quickly as possible, then a no exam plan is going to be a better option.
One of the disadvantages of these policies is that you’re going to pay more for the life insurance coverage. The purpose of the medical exam is to give the insurance company an idea of how much risk that you are for coverage. Without that medical exam, they are taking all of the risk, which they are going to offset that by charging you drastically higher premiums.
Another drawback of these plans is that you’re going to be limited on how much coverage that you can purchase without taking a medical exam. Most no exam companies are only going to let you purchase around $250,000 worth of coverage. For the vast majority of families, that isn’t going to be nearly enough insurance. There are a few companies that offer more life insurance for no exam plans, as much as $500,000. Those plans are rare, and they are going to be much more expensive.
A Fidelity Life Insurance online application cannot be completed without the assistance of an agent. A Fidelity appointed agent has to ask you a series of health questions and then they will email you a link for your signatures. It's as simple as that.
Getting Cheaper Life Insurance
One of the most common reasons that people don’t get life insurance is because they assume that life insurance is going to be too expensive. That couldn’t be further from the truth. Regardless of your health or any pre-existing conditions that you have, it’s possible to get affordable life insurance protection. There are a couple of things that you can do to cut down your insurance premiums and keep more money in your pockets.
The first thing that you should do is cut out any tobacco that you currently use. If you use chewing tobacco or smoke cigarettes, then you’re going to be facing much higher premiums. Anyone that uses tobacco is going to be at a higher risk for being diagnosed with severe health complications. Smokers are going to pay at least twice as much for their insurance coverage versus what a non-smoker is going to pay for the same sized plan. If you want to save money, you’ll need to cut out any tobacco that you currently use.
Another way that you can save money is to improve your overall health. Before the insurance company, regardless of the company that you choose, they are going to require that you take a medical exam. The results of the exam are going to play a major role in how much you pay for your insurance coverage. If you want to save money, then you’ll need to get better results.
The two best ways that you can do that is to start getting regular exercise and stick to a healthy diet. Both of these will help you lose weight, lower your blood pressure, and reduce your risk of being diagnosed with severe health complications. If you’re overweight, then you’re going to pay 50% more for your life insurance coverage.
Shopping for Life Insurance
We know that shopping for life insurance is never going to be a fun task. Nobody wants to think about something tragic happening to them. While you don’t want to think about your death, but not planning for the inevitable is the worst mistake that you could ever make for your loved ones.
Fidelity is an excellent option for life insurance, but it’s not always the best life insurance option for everyone. If Fidelity doesn’t work for you, don’t worry, there are hundreds of other possible options.
There are hundreds of companies on the market, and all of them are going to give you different rates based on their medical underwriting or rating systems that they use. Finding the perfect company is the difference between getting an affordable policy or getting one that is going to empty your wallet every month. If you want to ensure that you’re getting the best plan, you’ll need to compare dozens of those options. Don’t waste your valuable time calling those companies, let one of our independent insurance agents do all of that hard work for you.
Our agents have years and years of experience working with all types of clients and companies across the nation. We know which companies are going to offer you the best rates for your life insurance needs.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance protection that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance, your family would be left with a massive amount of debts and other final expenses.
If you have any questions about life insurance, either through Fidelity or any other life insurance company, please contact one of our agents today. We would love to answer those questions and connect you with the best possible plan. Don’t wait another day to get the life insurance that your family deserves.
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