Good evening guys,
Is this company legitimate? I have a term life policy with no medical exam required for about $44 a month, good until I’m 80 years old. I’m 38 now, but this is Fidelity Life Insurance Company with the blue and white logo, not Fidelity Investments.
Fidelity Life Association is a legitimate company. They offer a maximum of 30-year term policies. After 30 years, your rates will go up each year, so it will be higher in year 31, even higher in year 32, and so on.
I can confirm they sell life insurance, but they aren’t a large company, so I don’t know much more about them.
You didn’t mention the coverage amount, but it’s unusual for a term policy to have a fixed premium until age 80. Are you sure the premium doesn’t go up after a certain time? Usually, term policies have a fixed rate for 1, 10, 15, 20, or 30 years. After that, you can keep the coverage, but the premium usually goes up a lot—except for 1-year term policies, which increase gradually each year.
All I know is I’m 38 and they said the price is good until 80 years old it’s a term lifei don’t think it increases until after it expires if I’m not mistaken
They are a legitimate company indeed, but you can definitely do better!
Give the face amount and someone here can compare the amount of insurance you’re getting to the premium
Ask for a life insurance illustration that shows the payment breakdown for each year. Check if the rates are guaranteed or adjustable. To compare, get quotes from multiple insurance companies. If this quote stands out as much lower than others, there might be a catch. What’s the name of the product?
I think there’s a catch also I’m gonna do some more digging
Google ‘no exam term life insurnace’ and do some comparisons yourself.