Fidelity No Exam Life Insurance Review
Quick Summary: Fidelity is among the best for digital underwriting with no physical. They do it very fast and never need to see your doctor's records. Overall, their no exam product is lacking and most people can find better. The pricing is on the high side but they do offer the option to renew all the way up to age 95.
Skip the Exam
See our in-depth guide about life insurance without the medical exam. Compare more than 20 of the top companies and policies. Find out which is right for you today.
About the Company
Fidelity has been around since 1896 and there name is very well known due in part of their large presence selling financial services such as retirement planning. This helps their name recognition on the life insurance side of things.
Fidelity & Guaranty Life receive excellent marks from all the major ratings services such as S&P who assign them an A+. With close to 30 Billion in life insurance policies in force, this is solid company that will continue to be around for a long time.
About the Policy
Product Name
Rapid Decision Express
Coverage
$25,000 to $250,000
ISSUE AGE
18 to 65
TERM LENGTH
10, 15, 20, 30 years
Product Name
Rapid Decision Express
COVERAGE
$25,000 to $250,000
ISSUE AGE
18 to 65
TeRM LENGTH
10, 15, 20, 30 years
Underwriting Process
Fidelity's underwriting for no exam policies is VERY fast and almost always done completely digital. Based on the information you submit, they'll verify database reports including:
- Motor Vehicle Report - your driving record
- Prescription Database - what drugs have you been prescribed
- Medical Information Bureau -previous life insurance approvals and denials
Most applicants will have an answer within 24 hours. If you do not qualify, you may be asked to move over to a more traditional fully underwritten policy and have to take a physical.
Medical Questionaire
The application has 7 questions that you must answer "NO" to. A "YES" answer will disqualify you from the Fidelity Rapid Decision Express no exam product.
- Have you been diagnosed as having AIDS (Acquired Immunodeficiency Syndrome) or ARC (AIDS Related Complex) or tested positive for HIV (Human Immunodeficiency Virus)?
- Are you waiting for a diagnosis or have you been advised to have a surgical operation, diagnostic test or medical or mental evaluation that has not yet been completed?
- Have you requested or received any Worker’s Compensation or Social Security disability benefits?
- In the past 2 years, have you been hospitalized or evaluated in an emergency room or immediate care center for a chronic illness requiring ongoing treatment or care by a physician; OR have you participated in any hazardous activities or extreme sports?
- Do you currently take more than 2 prescription medications for pain; or do you consume, on average, more than 3 alcoholic beverages per day?
- Have you, within the past 5 years, been convicted of or pled guilty or no contest to a felony, misdemeanor, reckless driving, DUI or DWI; or been incarcerated or served in a probation or parole program or do you have criminal charges pending?
- In the past 10 years, have you received any treatment, medical advice or consultation for; been diagnosed with or required follow-up for: diabetes or elevated blood sugar; cancer (excluding basal cell or squamous cell carcinoma of the skin); stroke, transient ischemic attack (TIA or mini-stroke); emphysema; chronic bronchitis or chronic lung disease; major depression or anxiety that required psychiatric treatment; bipolar disease or mood disorder; schizophrenia, Alzheimer’s disease, dementia, rheumatoid arthritis, paralysis; any degenerative muscle or nerve disease or disorder; alcohol or drug abuse; OR any disease or disorder of the following: heart, aorta, coronary arteries, peripheral vascular system, blood, liver pancreas, kidney (other than kidney stones), brain or connective tissue?
Decision Time
Fidelity gives decisions in 24 hours for most cases. This is about as fast as you can find for life insurance with underwriting.
Pros
Guaranteed renewable up to age 95. Hard to find an age this high at other insurers.
Very quick approval process, no APS needed.
Cons
Standard is best health rating available. Those in excellent health can save money at other companies.
Cost. Cheaper term life options are available without the examination.
Extras and Options
Fidelity includes an Accelerated Death Benefit rider automatically at no extra cost. This provides "living benefits" of up to 50% of the death benefit. These benefits can be taken early if the insured is given less than 12 months to live. The rider cannot be activated until the third year of the policy. Any benefit amount distributed early will be deducted from the face amount.
For an extra cost, you have the option to add these riders:
- Dependent Child Rider - Up to $25,000 for eligible household children under age 18.
- Accidental Death Benefit Rider - Additional death benefit paid out if death is the result of an accident.
Can be renewed up to age 95 on a yearly basis once the initial term is over. This does NOT require any new underwriting so you still have life insurance even if your health has deteriorated.
Cost
Fidelity Rapid Decision Express is priced higher than other comparable no exam products.
Sample No Exam Term Quotes - Fidelity Rapid Decision Express
40 year old male at Standard health class - pricing listed is per month
Death Benefit | 10 Year | 20 Year | 30 Year |
|---|---|---|---|
$50,000 | $22 | $23 | $37 |
$100,000 | $26 | $38 | $66 |
$250,000 | $55 | $83 | $154 |
35 year old female at Standard health class - pricing listed is per month
Death Benefit | 10 Year | 15 Year | 20 Year |
|---|---|---|---|
$50,000 | $22 | $22 | $24 |
$100,000 | $20 | $25 | $34 |
$250,000 | $39 | $50 | $75 |
Use our quoting tool to see the price you'd pay for a Fidelity no exam policy.
How to Find the Best No Medical Exam Policy
Fidelity is one of more than 20 companies now offering life insurance without the need for a medical exam.
How can you be sure which is the right company?
You need to compare cost, underwriting niches, riders and policy options, as well as the overall strength of the insurance company.
The tough part is:
The right insurance company will be different for everyone, there is no one size fits all. Sending out applications to multiple companies to "see what sticks" can also hurt your chances elsewhere, not to mention the time and hassle of dealing with multiple sales people and forms.
The best way to approach this is to work with an independent agency that is:
No Pressure. No Cost.
Good news! We do this all day long and life insurance is our ONLY business. We pledge to always steer our clients towards the right company for their unique situation and based their needs.
Life insurance rates are fixed by law so there is no additional cost to use our service and expertise. We would be grateful to have a no pressure talk about options to protect those you care about most.
