Happy Holiday Greetings from Fidelity Life!
What a year it's been.... Fidelity Life would like to thank you ALL for helping
us achieve another exceptional year of growth and success. Far exceeding
projections, Fidelity Life will close 2013 with just over $54MM in new placed
annualized premium. We could not have done this without the combined
effort and continued support of ALL our distribution partners! THANK
Recap of 2013
January: Introduction of Rapid Decision Senior Life Term and Whole
Life. This product has been very well received and has surpassed sales goals
with a combination of attractive features....
- Higher comp
- Lower premiums
- Issue ages 50 to 85
- Extensive state availability - Florida, etc...
- Electronic application submissions....AND paper
March: Expanded the look back period for mortgage requirement on the
Rapid Decision Mortgage Term.
- 37 months for cases up to $300K
- 13 months for cases above $300K up to $500k
June: Roll out of new compensation structures
- Independent brokerage has been and will continue to be a valued
distribution outlet for Fidelity Life. We will continue working on maximizing relationship efficiencies in the IMO channel, and
leveraging key relationships in support of this distribution channel.
September: Added the Accelerated Death Benefit rider to RD Express.
Coming in 2014
In 2014 we expect our growth to continue with the addition of several new
initiatives in distribution, continued new product development activity, and
improvements in our infrastructure to support our rapid growth (as much of
2013 was dedicated to strengthening our systems and platforms internally so
that we can operate at optimal efficiency).
- New product development in the first half of the year will focus on
adding complementary benefits to our products, such as Chronic and
Critical Illness riders.
- Hybrid Life will be reintroduced with expanded distribution capabilities
by redesigning the compliance requirements surrounding product selling
Changes in non-forfeiture laws (unfortunately) have forced us to
implement some product changes to be effective January 1, 2014.
- Return of Premium rider option on RD Mortgage Term will need to be
suspended until we can re-evaluate options for potential reintroduction.
- Rapid Decision Senior Life - Whole Life rates will be adjusted slightly
for a few issue ages. Updates to follow.
All the best for a safe, joyous Holiday and very healthy, happy,
prosperous New Year!
Fidelity Life Sales & Marketing