Fidelity Life Insurance Review

Written by Ross Quade

Company Contact Info:

Call: 800-369-3990 Toll-Free

Fax: 630-522-0397

Office Hours: 8:00-5:00 CT, Monday-Friday

Email: [email protected]

Address:

8700 W Bryn Mawr Ave STE 900S

Chicago Il, 60631

Fidelity Life is a well-funded life insurance company that is currently structured as a stock subsidy managed by a mutual holding company. This holding company is known as Members Mutual Holding Company. Currently, Fidelity Life is licensed in all states with the exception of New York and Wyoming. As long as a member’s policy is active, they are considered a member of both Fidelity Life and Members Mutual. Fidelity Life and Members Mutual claim to operate solely by their mission to provide affordable life insurance to the nation’s emergent middle-class citizens.

History

Fidelity Life was established originally as a fraternal benefit society in the year 1896 under the name of Mystic Workers of the World. It functioned under this structure and further strove to operate exclusively by their mission, which was to offer more sensible insurance substitutes to workers in the Northern United States as well as the Midwest, to provide them an option to choose other than the classic and traditional insurance provided by old-line Eastern companies.

Mystic Workers of the World flourished under such a fraternal structure as their membership status rapidly rose over the next few years. By 1908, Fidelity Life was 50,000 members strong and continued to propagate reaching the one hundred million dollar mark of written life insurance policies in 1915. In 1930, the original name of the company was changed from Mystic Workers of the World to Fidelity Life Association, where it remained structured as a fraternal benefit society and continued to expand its rapidly increasing membership enrollees as well as its assets.

In 2005 Fidelity Life detached itself from the management agreement that was arranged in 1953 and in 2007 policyholders approved the reorganization of the firm from the past mutual legal reserve organization to a stock company under the parent partner Mutual Members Holding Company. Today Fidelity Life and Mutual Members Holding Company have an outstanding $25.6 billion of life insurance and employ a magnitude of innovative processes and products engineered in a specific way to make insurance coverage more affordable and accessible for all American citizens.

Positives

It is Fidelity Life’s claim that their organization benefits their members in the following ways:

  • By making it easy for members to protect their families

Fidelity Life offers a service in which they will assess the potential client’s needs and compare the prices of competitor life insurance companies to their own products and policies, what they have to offer you as the client, their financial stability and ultimately provide you with the best quote available to you. Allowing you to make the final decision on what policy is best for you.

They also offer their clients policies that do not require medical exams, which equates to a seventy percent savings for the client. Some plans can be as affordable as $1 per day.

  • Affordable life insurance coverage

Fidelity Life founded their organization over a century ago under the mission to provide the working middle class with life insurance coverage that will not break the bank. Today they make it a point to let potential clients know that they still operate under the same purpose.

  • Advice and guidance

Fidelity Life claims that they know and understand how stressful, confusing and time consuming selecting the right life insurance plan for yourself can be and so they provide their clients with professional assistance to afford their client’s expert advice in their decision-making process.

Negatives

Most of the negative reviews of Fidelity Life Insurance are not in regards to their actual policies and/or products but rather with reference to advertising and customer service. The actual available and provided products to customers are essentially complaint free, though you may come across one every now and then, even then the main issues seem to be about customer service, again, not the product.

There are numerous complaints about the advertising methods of Fidelity Life where customers who went with other policy providers cannot seem to be removed from Fidelities drip email. Also, numerous complaints about the customer service department and their apparent lack of organization and ability to follow through with requests demands from clients.

Whether or not Fidelity Life is the insurance provider for you is ultimately a decision that you will have to make. Though all aspects may, from reading this review, seem right for you, please take care to investigate other options as well, in an effort to ensure you find coverage that is just right for

Ross Quade on BloggerRoss Quade on Linkedin
Ross Quade
Ross Quade has been a licensed insurance agent since 2008. State of Texas license #1702965. He has a Bachelor Degree in Psychology from University of Minnesota and minored in Applied Economics. He has been quoted in several online publications including Huffington Post, Young Startups and various financial blogs. Ross frequently writes about issues related to the insurance and finance industry.
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About FinalExpenseInsurance.com

We work with individuals across the nation to secure the best life insurance rates.

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