Fidelity Life

[wall2000x]

I was wondering as an agent getting back into the business. Does Fidelity Life really let you write without E&O and do they let you write without a general agent? Also has anyone written their Rapid product?


Peter on Cape Cod

 

[Crabcake Johnny]

First of all, don't write without E&O regardless of carrier requirements. If you don't have $50 a month for E&O go get a job then come back into this biz later.

And yes, I've been using Rapid App for about 3 months now with great success.

 

[TXINSURANCE]

Watch who you "appoint" with. I appointed with a SCAM outfit and never wrote one piece of business with them, I have NEVER sold Fidelity - yet they won't release my appointment - claiming some unwritten rule.

Like most life insurance companies their appointment policies are very suspect.

 

[Crabcake Johnny]

I'm with SSAID for Fidelity and happy.

 

[wall2000x]

I understand the concern about E&O, but I didn't get an answer to my questions. I'll contact Fid on Monday and get the skinny from them.


Peter

 

[James]

I understand the concern about E&O, but I didn't get an answer to my questions. I'll contact Fid on Monday and get the skinny from them.


Peter

No you do not need E&O to get appointed with Fidelity.

 

[Brad Howard]

Watch who you "appoint" with. I appointed with a SCAM outfit and never wrote one piece of business with them, I have NEVER sold Fidelity - yet they won't release my appointment - claiming some unwritten rule.

Like most life insurance companies their appointment policies are very suspect.

Once you go 6 mos and 1 day contact FLA direct and they will release you themselves w/o the other GA's involvement. This product is about to get even better. Get ready for 500k max face......

 

[Crabcake Johnny]

Well when I cross-sell life at the time of the health app in many cases I need a good non-med product. Fidelity fits the bill.

 

[TXINSURANCE]

There is no way they can legally hold me to a former GA when I produced ZERO and signed NOTHING. This is VERY unethical and questionable business practice.

I might contact them next week and see if they want to correct their judgement error.

 

[James]

I'm not totally sold on Fidelity, while I enjoy the quick sale as much as the other guy there comes a point that I believe it works against the process. Take this example from their site;

A UNIQUE EXPERIENCE
By targeting an underserved niche — Middle American families that need a modest amount of life protection and want it quickly and for a competitive price — we knew we had to create something special to provide a unique customer experience.
Technologically driven and customer-centric, our Rapid App process leverages the work of experts who understand all aspects of customer service and have the knowledge and experience to provide solutions that are both forward-looking and practical. By accessing online data bases to assess risk, we can issue a policy, in most cases, within 24 hours. Fidelity Life is the first and only company with fully-underwritten life insurance with competitive rates that can be issued within 24 hours. Normally, your customers would wait weeks or months for a fully underwritten policy or would pay three times what our products cost for a simplified issue policy.
GOOD FOR CUSTOMERS; GOOD FOR AGENTS
Customers love the process because we virtually eliminate embarrassing exams, invasive tests and tedious delays so they can obtain coverage from Fidelity Life in days, not months. Even better, producers love the process because Fidelity Life's streamlined underwriting process enables the company to quickly approve 90 percent of all pre-qualified applicants versus the industry average of just 55 percent approval. So producers like you can save time while also serving more customers, thus dramatically increasing your sales count and commissions.

Now I'm thinking they are banking on the simple fact that 99% of all written business will fall off. Oh well, just make sure you collect annual premiums!