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Life insurance consumers are looking for a good value for their premium dollar. High face amount, low cost term insurance is a popular option for this reason. Unfortunately, many life insurance companies can take eight weeks or longer to issue a high face amount policy at a reasonable cost. Clients drop out of the process and never become policyholders, due to the lengthy, invasive medical underwriting process.
To address this, companies have introduced innovative, non-medical life insurance products. Under this option, consumers can obtain coverage quickly, with no medical exam and no requirement to produce medical records. This allows consumers to place coverage more quickly, and with very little hassle. However, not allowing the insurance carrier to get a close look at you may mean that you pay a bit more for your coverage.
Most recently, Fidelity Life (rated excellent by AM Best) has introduced a way to blend the benefits of both fully underwritten and non-medical options into one policy. Fidelity’s Hybrid Life insurance product allows a consumer to place up to $1,000,000 of coverage in a non-medical policy at rates competitive with a medically underwritten policy. Instead of paying a higher rate for a non-medical policy, Fidelity offers rates competitive with a medically underwritten policy, and splits the death benefit into two portions: one covering all causes of death and one covering accidental death.
Better still, Fidelity will give the consumer up to 6 months to complete a paramedical exam on their own schedule if they wish. By medically underwriting, the consumer may be able to convert the entire death benefit to cover all causes. Even if the medical underwriting process uncovers adverse underwriting information, the original policy that was placed on a non-medical basis cannot be changed, unless the consumer knowingly withheld information on the original application.
Fidelity’s Hybrid Life Insurance product offers consumers a new advantage in obtaining competitively priced life insurance in a busy world.. | 
