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Fidelity Security Life Insurance Company Review
Published on July 01, 2020
Fidelity Security Life (FSL) is an insurance company that offers life insurance, disability insurance, and annuities.
FSL opened their doors in 1969 and they have now been operating for more than 50 years.
Fidelity Security Life insurance policies
FSL offers a few different types of life insurance policies including term life insurance, whole life insurance, decreasing term life insurance, and single-premium life insurance.
Their website provides almost no information about the specifics and availability of their life insurance policies. Instead, they encourage you to contact them directly for more information.
How much does Fidelity Security Life insurance cost?
Similar to the information regarding their policies, you won't be able to find that information online. You will need to contact them directly to get pricing information.
Is Fidelity Security Life financially stable?
Data from information available at AMBest.com, StandardAndPoors.com, Moodys.com, and FitchRatings.com. Data effective 7/1/2020.
A.M. Best gives Fidelity Security Life a stable and excellent rating of A. This is a great rating from A.M. Best as they are the gold standard for financial ratings in the insurance industry.
Fidelity Security Life hasn't received ratings from S&P, Moody's, or Fitch, but that doesn't reflect negatively on FSL since A.M. Best gave them their second-highest rating.
Fidelity Security Life claims and customer service
According to the National Association of Insurance Commissioners (NAIC), consumers have filed very few complaints against Fidelity Security Life, earning a company complaint ratio of 0.14 in 2019.1 To put that into perspective, the national average is 1.00, so they are well below the national average.
In total, FSL received 4 total complaints in 2019.2 With the company taking in over $1 billion in annual premium3 last year that is an extremely low number of complaints for the year.
Bottom line: FSL is financially stable, but not transparent
While we have seen that FSL is financially stable and has an excellent record of minimal complaints, they are also lacking in transparency on their website.
They encourage you to call to get more policy information and pricing, where a lot of their competitors offer all this information for free online. While we recognize the benefit of speaking to a licensed agent and getting guidance to find the right policy we also think that companies should allow all consumers to easily view the products they offer along with their pricing.
If you are looking for term or whole life insurance and prefer to speak with an agent to get life insurance information, then FSL could be the right choice for you. However, if you are more of a DIY-er you will want to look elsewhere.
Sources
- National Association of Insurance Commissioners, "Fidelity Security Life Ins Co"
- National Association of Insurance Commissioners, "Fidelity Security Life Ins Co"
- National Association of Insurance Commissioners, "Fidelity Security Life Ins Co"
