What Makes Hybrid Life Unique?
Throughout its 100-year history, Fidelity Life Association has been striving to provide the most innovative and unique life insurance policies to its valued customers. The Hybrid Life option is no different - it's a revolutionary combination of two types of life insurance coverage, designed to give you the benefit of nearly immediate coverage available with issuance of a no-exam life insurance policy but offer you the opportunity to upgrade the coverage after policy issuance through medical underwriting.
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Hybrid Life, unlike any other plan on the market, gives you the ultimate decision in the medical underwriting process. Most Hybrid Life policies are approved in less than 24 hours. Approval of the policy depends on the answers to several simple health questions.
Unlike many other policies, Fidelity Life's Hybrid Life policy guarantees continuous coverage for the term of your policy, even if your medical exam has unfavorable results; in fact, you may decide not to receive an exam, but you'll still retain the initial benefits provided by your policy from day one.
Comparing Plans
| Typical Term Life Insurance | Hybrid Life |
|---|---|
| You receive temporary coverage until your medical underwriting results are known; then your policy may not be approved due to pre-existing conditions. | Blended coverage starts as soon as your policy is approved; you have the choice of a 10, 15, 20, or 30-year level premium term that is guaranteed, regardless of the results of your medical exam. |
| Your policy may be denied as soon as your medical results are known - temporary coverage is likely withdrawn when this happens. | Within hours of submitting your application, once you're approved for coverage, you're guaranteed the blended coverage provided at issue for the term of the policy (provided that you answer all questions honestly on your application). |
| Full coverage generally doesn't begin until 2-3 months after receiving your medical results. | You do not need to receive a medical exam right away; but if your exam has favorable results, then you will receive more favorable coverage for the remaining term of the policy. |
| If you have unfavorable results on your medical exam, then your coverage may be denied. | If your medical exam results are unfavorable, you will not be denied coverage; the policy remains in full force as originally issued. |
| Medical exam is required immediately upon submitting your application. | You have a full six months to improve your health and decide whether or not you want to undergo a medical exam. |
| Most insurers will require you to submit medical records and evidence immediately; otherwise your coverage will not be issued | Choose to either receive a medical exam within six months, or submit nothing. Regardless of your choice, you are still given an excellent life insurance policy from Fidelity Life Association. |
The benefits of Fidelity Life's Hybrid Life don't stop at its flexibility. To discover all of the advantages of a Hybrid Life policy from Fidelity Life Association, request a quote today.
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Quick-Reference Life Glossary
Accidental Death Benefit (also ADB): Insurance coverage for a cause of death that does not include illness, suicide, murder, or natural causes.
All Cause Coverage: Coverage that pays out regardless of the cause of death*. "All Cause" differs from ADB coverage, which only covers accidental death
A.M. Best Rating: An independent financial strength rating of insurance companies, based on their ability to pay claims. Ratings range from A++ to F.
Blended Life Insurance: A type of life insurance that includes more than one type of benefit that depends on the cause of death. For Fidelity Life's Hybrid Life, this initially means a blend of "all cause" life insurance and ADB coverage.
Term Life: A type of life insurance that is pure insurance, which doesn't build up cash value over time. Term life coverage lasts for a pre-determined and specified time, generally 5, 10, 15, or 20 years or more.
Rider: A modification that is made to an insurance policy at the time of issue. The ADB rider is automatically added to Fidelity Life Association's Hybrid Life.
*Except those specifically excluded in the policy.