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American Fidelity life insurance review 2021
Last updated:
Permanent policies are its specialty, including converted military to civilian life insurance.
Get a quote if…
- You want a policy with cash growth.
Pick something else if…
- You’re looking for a brand name or term life insurance.
17 to 60
Issue Age
$10,000 to $100,000
Coverage
No
Medical Exam Required
Details
| Policies | Term, Permanent |
|---|---|
| Coverage maximum | $100,000 |
| Term lengths | 10, 20, or 30 year period |
| Medical exam required | No |
| Available states | All 50 states |
| Issue age | 17 - 60 years old |
Pros
- Transfers military term to permanent policies
- Strong finances
- Steady, experienced insurer
- No customer complaints
- Online customer account
Cons
- No online quotes
- Could use more details online
- Few customer reviews
| Riders |
Child rider Portability rider Spouse rider |
|---|
Expert review
Review by
Sarah George
sarah.george@finder.comSarah George is a writer at Finder who unravels complicated topics about insurance, business and finance. She's been wordsmithing for nearly five years, after earning an English education degree. Her insurance know-how has been featured on CarInsurance.com. You can usually find Sarah sipping hot tea and talking through movie plots in her downtime.
Expert review
American Fidelity has proven its ability in the life insurance market with sound investments and years of industry service. It also serves a great need for the US military by underwriting Servicemembers Group Life Insurance policies. The company is one of the only insurers to transfer military policies to permanent civilian policies if veterans prefer that option.
On the other hand, the company isn’t well-known in the market. For customer service, you can expect support to come through the home office with a few services accessible on your online account.
If you enjoy service with a local feel and policies with sound investments and guaranteed cash assets, American Fidelity might be for you. But consider whether you can get better coverage or a lower premium with another life insurance company before finalizing your policy.
What types of life insurance coverage does American Fidelity offer?
American Fidelity started on the basis of providing life insurance with cash assets to people in the military. It stands by that mission with these types of policies:
- Group life— American Fidelity underwrites Servicemembers Group Life Insurance (SGLI), a group term policy offered to US military members while in active service.
- Whole life— The company’s Flexible Dollar Builder policy can protect you for your whole life while growing a tax-deferred cash value that you can borrow. A whole life policy offers a guaranteed return on your investment and keeps your premiums level the entire time you’re covered.
- Universal life— The Future First Universal policy can stay with you for your entire life while growing tax-deferred interest, but it’s subject to the investment’s performance. Also, your premiums and interest rates may fluctuate. You can find universal life policies with minimum guaranteed return rates like 2%.
- Term life— This policy helps customers who want low-cost insurance for a defined amount of time.
What riders can I add to my life insurance policy?
American Fidelity doesn’t specify the riders available to you on its website. Instead, you have to call or email customer service for this information. Riders or benefits the company likely offers:
- Spouse and child rider. Many policies let you add coverage for a spouse or children, allowing the death benefit to get paid out for those named as insureds.
- Portability rider. If you participate in group coverage, this add-on allows you to take your policy with you if you change jobs.
How much does American Fidelity cost?
In general, you might pay anywhere from $250 to $1,000 per month for whole life insurance. Universal life insurance premiums may start out similar or higher than what you’re quoted for a whole life policy. Keep in mind that employer-sponsored policies tend to cost less.
However, your exact rates depend on a variety of factors, including:
- Age
- Health, such as blood pressure levels or smoking habits
- Occupation
- Types of hobbies
- Length of your policy
- Insurance offered through your employer
Compare life insurance companies like American Fidelity
American Fidelity life insurance reviews and complaints
American Fidelity holds an A+ rating with the BBB — no small feat for a company accredited by the bureau since 1987. It has 27 customer complaints with the BBB, it also sees 14 customer reviews as well, as of 2020.
American Fidelity recently upgraded to an A+ financial rating from AM Best in 2019.
How do I sign up?
This insurer keeps the sign-up process personal by offering quotes and policy information over the phone. Your application might go something like:
- Call 850-456-7401 to talk with customer service about your policy needs.
- Give the representative your personal information, including your name, address, job and overall health.
- Choose the policy and riders that suit your needs.
- Receive your quote and choose whether or not to buy the policy.
- Fill out your paperwork and enter your credit card or bank draft information. Sign the policy documents.
- Return them to American Fidelity for approval.
- Start your policy on the date agreed upon.
More about American Fidelity
World War II Marine Charles Woodbury founded American Fidelity in 1956 after completing his military service. The company’s goal was helping military families in Pensacola, Florida with stable financial planning and products.
Because of its focus on government and stable investments, the company has weathered many economic downturns, including the 2008 recession. It introduced its newest universal life product in November 2008.