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Why people choose term life insurance?
There’s a reason term life is the most popular life insurance. Term life policies are often the most flexible and affordable. Fidelity Life designs our term life products to provide term lengths and coverage amounts that work for hard-working families. Plus, our process makes it simple and easy to get covered, fast.
Our RAPIDecision® term life offerings, including RAPIDecision® Life and RAPIDecision® Senior Term, work to qualify you quickly so you can feel confident your family is protected.
Term life insurance provides guaranteed protection and level premiums during your term length.
Fidelity Life offers several flexible products, many of which can be further customized with riders.
Our fast, hassle-free process means your coverage typically starts in days, not months.
Term Life Insurance vs. Whole Life Insurance
| Term Life | Whole Life | |
|---|---|---|
| LENGTH OF COVERAGE | You choose a term length (10, 15, 20, 30 years) based on your needs. | Your coverage lasts your lifetime, as long as you pay your premium. |
| PREMIUM | Term life premiums are usually the most affordable. | Whole life premiums are more expensive than term premiums for same coverage. |
| MEDICAL EXAM | A medical exam is not always required. | A medical exam is usually required–but not with Fidelity Life. |
| GUARANTEED PAYOUT | Yes, a payout is guaranteed for the duration of your term as long as premiums are paid. | Yes, a payout is guaranteed for the life of your policy as long as premiums are paid. |
| CASH VALUE | A term life policy does not build a cash value. | A whole life policy can build tax-deferred cash value. |
Find a policy that works for you
There are a range of affordable Fidelity Life products to choose from based on your situation and financial responsibilities.
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Questions about term life insurance
Who Needs Term Life Insurance?
If there’s anyone in your life who depends on you financially, you need life insurance. A simple and affordable option, term life insurance helps you protect those you love if the worst happens. Term life offers flexible coverage for a set period of time, making it a great choice for many growing families. If you die while the policy is active, your family can receive a cash payout from your insurance company to help replace your income, take care of day-to-day expenses, pay off leftover debts, or save.
Wonder if it’s the right fit for you? Talk to an agent to explore your options.
How Does Term Life Insurance Work?
At Fidelity Life, we offer a broad range of term life policies for every age and stage of life. As you shop for a policy, here’s what to expect.
- Shop. Research your options, compare providers and insurance quotes, and choose the ideal coverage amount and term length for you. With coverage amounts from $50,000 to $2 million and term lengths from 10 to 30 years, you can choose the Fidelity Life plan that works best for your goals and budget.
- Buy. Apply for your policy with one of our agents over the phone once you’ve researched insurance quotes that fit your budget. Fidelity Life can often help you get coverage the same day. In some cases, you may need to take a medical exam to determine your eligibility. With Fidelity Life, you can often wait up to six months after getting covered to take your exam, and we may be able to waive the exam entirely.
- Pay. Once you’re approved, you’ll start paying your premiums in monthly or annual installments, whichever is most convenient.
- Review. Take stock of your situation regularly and adjust your life insurance coverage as needed.
- Breathe easy. Know that you’re covered in case the worst happens. If you die while your policy is active, your family can receive a cash payout to use however they like. If you outlive the policy, you may have options to renew it, let it expire, or buy a new one.
What Are the Benefits of Term Life Insurance?
Term life is the most popular life insurance choice in the market, with benefits that include:
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- Affordability. Hands down, it’s the most cost-effective life insurance option available.
- Simple to understand. With level coverage and premiums, you know exactly what you’re getting from beginning to end.
- Customizable. One of the biggest advantages of term life insurance is that you can tailor coverage and length to your needs. At Fidelity Life, you can choose from term lengths of 10, 15, 20, or 30 years, with coverage amounts from $50,000 to $2 million.
- Dependable. Unlike group life insurance options, you’ll never lose your eligibility or coverage because of a job change.
What Are the Benefits of Term Life Insurance?
Term life is the most popular life insurance choice in the market, with benefits that include:
-
- Affordability. Hands down, it’s the most cost-effective life insurance option available.
- Simple to understand. With level coverage and premiums, you know exactly what you’re getting from beginning to end.
- Customizable. One of the biggest advantages of term life insurance is that you can tailor coverage and length to your needs. At Fidelity Life, you can choose from term lengths of 10, 15, 20, or 30 years, with coverage amounts from $50,000 to $2 million.
- Dependable. Unlike group life insurance options, you’ll never lose your eligibility or coverage because of a job change.
How Much Does Term Life Insurance Cost?
Less than you might think. A recent LIMRA study found that most people overestimate the cost of life insurance by 300%. In reality, A 20-year Fidelity Life term life policy with $250,000 in coverage can cost just $17.62 a month for a healthy 30-year-old woman.
Some of the factors that can influence the cost of your policy are:
- Policy type. This includes the term length and coverage amount. Typically, term life insurance is the most affordable type of coverage.
- Gender. Women generally pay less for their policies than men.
- Age. Life insurance rates only get higher as you get older, so it’s wise to lock in lower rates now.
- Overall health. Providers look at your family and personal health history to determine policy costs.
- Smoker status. Nicotine use can directly affect your rates. If you smoke cigarettes or cigars or chew tobacco, now’s a good time to quit.
- Hobbies. Life insurance companies will evaluate any high-risk hobbies and activities you enjoy, like skydiving, scuba diving, or flying a private plane.
At Fidelity Life, we have options for virtually every need and budget. Give us a call to explore options.
Can I Customize My Policy?
Term life policies are designed to meet a variety of needs. You can choose your own term length of up to 30 years, along with the amount of coverage you need to protect your family financially.
To customize your plan even further, you can add riders to your life insurance policy. These are add-ons to your policy that offer extra protection, typically for an additional cost. At Fidelity Life, we offer riders for accidental death, child insurance, policy inflation protection, and more. Learn more about life insurance riders here.
Do I Need to Take a Medical Exam?
In some cases, yes. A medical exam confirms the health information you gave when applying and helps determine your eligibility and rates. It usually includes height and weight checks, blood and urine tests, and a health questionnaire.
Fidelity Life is committed to making your medical exam as simple as possible. We use technology to determine whether you’ll need to take a medical exam and can even waive it, in some cases. If you do need an exam, you have the option to delay it for up to six months and still get covered immediately, so you can have peace of mind right away. Learn more about medical exams.
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