News: Fidelity Life Association

Fidelity Life 2013 Holiday Letter

Posted on 12/19/2013 by

Happy Holiday Greetings from Fidelity Life!

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 YOU!

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 and certification.

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!

Thank you,
Fidelity Life Sales & Marketing

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