Is Fidelity Life a Real Company? A Reality Check, Everything You Need to Know

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Delve into the world of life insurance and uncover the authenticity of Fidelity Life Insurance. Explore the company’s history, financial strength, and product offerings to gain a comprehensive understanding of its legitimacy. Discover the various ways to cash out your Fidelity Life Insurance policy and make informed decisions about your financial future/PHOTO COURTESY: Instagram

Tired of the insurance industry’s jargon and hidden fees?

Confused by the endless stream of confusing insurance options?

Wondering if Fidelity Life Insurance is legit or just another scam?

Fear not, for I’m here to unravel the mystery and expose the truth behind Fidelity Life Insurance.

Delving into the Depths of Fidelity Life Insurance

Fidelity Life Insurance, a name that echoes through the insurance realm, has been around since 1896, a testament to its longevity. But does this heritage translate into reliability?

Or is it just an illusion, a smokescreen to hide a less reputable reality?

So, Let’s Dig Deeper

Fidelity Life Insurance boasts an A+ rating from the Better Business Bureau (BBB), a beacon of trust in an industry often shrouded in skepticism.

This rating indicates a commitment to customer satisfaction, a rare gem in the insurance landscape.

But is it enough to dispel all doubts?

And what about financial stability?

What is Fidelity Life Insurance?

Fidelity Life Insurance is a legitimate and well-established insurance company that has been in business since 1896.

They are headquartered in Chicago, Illinois, and they have a financial strength rating of A- (Excellent) from AM Best.

This means that they are financially sound and able to pay out claims.

Fidelity life insurance offers a variety of life insurance products, including term life insurance, whole life insurance, and universal life insurance.

They also offer a variety of riders and options that can be added to your policy to customize your coverage.

Fidelity Life Insurance has an A+ rating from the Better Business Bureau (BBB).

This means that they have a good track record of resolving customer complaints.

They also have a 4.5 out of 5-star rating on Trustpilot, which is based on over 2,000 reviews from satisfied customers.

Is Fidelity Life a Real Company?

Fidelity Life is a real company.

It is a licensed insurance company in all 50 states and the District of Columbia.

The company has been in business since 1896 and has an A+ rating from the Better Business Bureau (BBB).

It also has an A- (Excellent) financial strength rating from AM Best, which means that it is financially sound and able to pay out claims.

Fidelity Life offers a wide variety of life insurance products, including term life insurance, whole life insurance, and universal life insurance.

They also offer a variety of riders, such as a waiver of premium rider and a disability income rider.

Fidelity Life is licensed to sell insurance in all 50 states in the United States.

The company has a strong track record of financial stability and has been providing insurance protection to families for over 125 years.

They have been accredited by the Better Business Bureau since 2013 and have an A+ rating.

They have also received a number of awards for their customer service, including the Newsweek Customer Service Award and the Stevie Award.

Can I Cash Out My Fidelity Life Insurance?

You can cash out your Fidelity Life Insurance policy.

There are a few different ways to do this:

Option 1: Surrender Your Policy

Surrendering your policy is the most straightforward way to cash out your Fidelity Life Insurance policy.

However, it is also the most expensive option, as you will forfeit the death benefit of your policy and only receive the cash surrender value.

The cash surrender value is the amount of money that you have paid into your policy, minus any surrender charges.

These charges are typically a percentage of the cash surrender value and are intended to compensate the insurance company for the loss of your future premiums.

Option 2: Take a Policy Loan

Taking a policy loan is a less expensive way to cash out your  Insurance policy than surrendering it.

However, you will need to repay the loan, plus interest, at a later date.

If you do not repay the loan, it will be deducted from the death benefit of your policy.

Option 3: Sell Your Policy to a Third Party

Selling your policy to a third party is called a viatical settlement.

Viatical settlements are typically used by people who are terminally ill and need money immediately.

In a virtual settlement, you will sell your policy to a third party for a lump sum of cash, which will be less than the death benefit of your policy.

Considerations When Cashing Out Your Fidelity Life Insurance Policy

Before you cash out your Fidelity Life Insurance policy, it is important to consider the following factors:

Your financial situation:

Do you have a pressing need for cash?

Can you afford to pay the surrender charges or interest on a policy loan?

Your health:

Are you in good health?

If you are not in good health, you may not be able to qualify for a viatical settlement.

Your future plans:

Do you have any dependents who rely on your life insurance policy?

If so, cashing out your policy could leave them without financial protection.

Does Fidelity Handle Life Insurance?

Fidelity Life Insurance handles life insurance.

They offer a variety of life insurance products and services, including:

1. Term life insurance:

Term life insurance provides coverage for a specific period of time, typically 10, 20, or 30 years.

If you die during the policy term, your beneficiaries will receive a death benefit.

2. Whole life insurance:

Whole life insurance provides lifelong coverage.

The death benefit of a whole life insurance policy grows over time, and you can also borrow money from your policy.

3. Universal life insurance:

Universal life insurance is a type of whole-life insurance that offers more flexibility than traditional whole life insurance.

With universal life insurance, you can adjust your premiums and death benefit.

Fidelity Life Insurance also offers a variety of riders and options that can be added to your policy to customize your coverage.

For example, you can add a rider that will pay for your funeral expenses or a rider that will provide additional coverage for accidental death.

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