Fidelity Life is one of few companies in the industry that focuses on assisting everyday Middle Americans experience the peace-of-mind that comes with life insurance ownership. In fact, the company was founded in 1896 for that express purpose.
Fidelity Life understands the competing economic pressures experienced by many American families daily. As a result, using patented technology and innovative products, Fidelity concentrates all of its energy on offering policies that are valuable and affordable. This approach allows customers to start fulfilling their basic needs for financial protection in order to:
- Maintain a family’s standard of living
- Pay ongoing family debts
- Fund children’s educations
- Pay for final expenses
- Leave the family a financial legacy
Fidelity Life Association was founded in 1896 as Mystic Workers of the World, a fraternal benefit society designed to provide financial protection for the growing middle class of the Midwest and Northern states.
As Middle America grew, so did the company. By 1915 life insurance in force reached $100 million. In 1929, it increased its assets by nearly 100 percent during the worst decade in U.S. financial history. Though it remained a fraternal benefit society, the company name was changed to Fidelity Life Association in 1930. For the next few decades, its assets and number of customers continued to grow.
In 1953, Fidelity Life converted to a mutual legal reserve life insurance company. Shortly thereafter, it became affiliated with a series of life insurance organizations through fee-for-management agreements. In 2005, Fidelity Life ended this management arrangement and became an independent company once again. This change has ushered in an exciting new era for the company, coming full circle to once again to focus on assisting everyday Middle Americans experience the peace-of-mind that comes with life insurance ownership.
Today, Fidelity Life is a well-capitalized life insurance company licensed to do business in all states except Wyoming and New York with over $26 billion of life insurance in force. It is organized as a stock life insurance company subsidiary of Lifestory Interactive with Members Mutual Holding Company as our ultimate parent. This organizational relationship provides Fidelity Life greater operational flexibility and access to capital. The company has a risk-based capital ratio that ranks in the top 10 percent of the U.S. life insurance industry and is rated A- (Excellent) by A.M. Best.*
Fidelity Life’s parent added additional customer-oriented capabilities in 2009 with the acquisition of Efinancial, a direct-to-consumer sales organization. The partnership between Fidelity Life and Efinancial, as well as Fidelity Life’s very select independent distributors exemplifies the company’s focus on the financial security of today’s Americans.
Fidelity Life offers the security of an A- (Excellent) rating from A.M. Best, the leading provider of ratings, news and financial data for insurance companies. This rating was reaffirmed on June 11, 2015, with a Stable Outlook.*
A.M. Best financial strength ratings are based on evaluations of a company’s balance sheet, operating performance and business profile, and constitute an opinion of an insurer’s financial strength and ability to meet obligations to its policyholders.
Fidelity Life continues to maintain a strong capital position.
The summarized financial information shown in the table below is developed from the statutory basis financial statements filed annually with the Illinois Department of Insurance. These financial statements are prepared based on statutory accounting practices which differ from financial statements prepared in accordance with GAAP.
* For the latest rating, access www.ambest.com
Fidelity Life Association is licensed in all states and the District of Columbia, except for WY and NY. Not all products are available in all states and are subject to underwriting approval. NAIC number 63290.