Term life insurance covers you for an amount of time (term) you choose, such as 10, 15, 20, 25, or 30 years. You pay a set dollar amount (the premium) monthly, semiannually, or annually throughout the duration of the policy term. In the event you pass and are no longer there for those you love, the term policy pays your beneficiaries the face value or amount of your policy (coverage amount).

Term life insurance covers individuals for a specific amount of time, for a predetermined dollar amount. This coverage serves as a safety net for a period of years and can provide financial security to those you love if something happens to you. Term life insurance is available to those 18 years and older, US citizens, and permanent residents of the United States.

Term life insurance covers you for a specific amount of time you select—such as 10, 15, 20, 25, or 30 years—for a predetermined dollar amount. It can be an affordable way to protect those you love. Whole life insurance is a type of permanent life insurance, which means it generally provides coverage for your entire life. Often, its premiums are fixed and there can be a guaranteed cash value and a payout amount.

Your expenses and financial responsibilities change throughout your life and so will your coverage needs. Fidelity offers term life insurance in increments of 10, 15, 20, 25, or 30 years in most states. Our quote tool can help assess your coverage needs and estimate the cost.

The amount of coverage you get should reflect how much money you'd like your beneficiaries to receive in the event something happens to you. You can start with your family's day-to-day needs—the entire amount of money it takes to run your household each month or by estimating how much your beneficiaries may need to pay off debts—loans, a mortgage, credit cards, etc. If you have a spouse or partner, it's also important to have coverage for both people, no matter how much each person earns. You might need to cover costs such as additional caretaking of children or time off to settle the estate. Our quote tool can help assess your coverage needs and estimate the cost.

No, our term life policies have no cash value and no payout after the term expires. Our policies provide life insurance coverage for a specific time period and provide your beneficiaries with the full policy value in the event of unexpected death.

Many people seek help estimating how much term life coverage is needed and how much it might cost before applying. With our quote tool, you share some basic information, including how you assess your current health status, and you can get an estimated monthly cost. Note that your final price is personalized and based on the answers provided in the online application (e.g., health history, lifestyle, and family health history), medical information, and third-party data obtained during underwriting. Please note that most applicants will fall in the average or above average range for health status. Get your estimated quote.

You can have multiple life insurance policies and some people have coverage through workplace and individual policies. However, having multiple individual policies may limit the amount of coverage you are able to apply for. Our quote tool can help assess your coverage needs and estimate the cost.

We don’t currently offer replacement policies. So if you’re planning to cancel an existing policy—for instance, to pay for a new one—we won’t be able to offer you a Fidelity term life policy. However, if you’re planning to layer, or add to, your existing coverage, we may be able to help.

Your premiums are based on the policy value, term, your age, sex at birth, and health status. Premium payments are level (will not change) throughout the term and will only change if you continue your coverage beyond the term. You can pay your premiums monthly, semiannually, or annually.

No, the applicant and the insured person must be the same.

At this time, you can only apply for and buy a term life insurance policy for yourself. The best option to help get a loved one protected is to share this term life insurance overview and suggest they apply for their own policy.

Not to be confused with other life insurance providers that contain "Fidelity" in their name, Fidelity Investments Life Insurance Company is a wholly owned subsidiary of FMR, LLC, the parent company of Fidelity Investments.

Fidelity Investments Life Insurance Company is a highly rated life insurer² that has supported families like yours since 1987. You do not have to be a customer to apply.

Our simple application can be completed online on your desktop, tablet, or mobile phone in as little as 15–20 minutes in many cases. Expect questions about your identity (which we will verify), contact information, employment, prescriptions you take, medical conditions, smoking status, activities you enjoy. Honest, complete answers help to expedite the review process. Ready to start?

We ask you to log in to your Fidelity account for enhanced security. If you don’t have an existing account, we’ll prompt you to create one, which you can also use to access Fidelity’s suite of digital planning tools.

No, in order to complete the application, answers must be provided to all required fields, including medical history. It is a good idea to have medical details handy prior to starting the application.

Yes, you may still be eligible for a term life policy. Medical history is just one factor in determining eligibility for coverage and premium amounts. Your eligibility will be determined through the application and underwriting process.

Underwriting is a process that evaluates your application using medical information and third-party data to determine your “risk class” in order to provide you with a personalized premium for the selected coverage.

In most instances, you will need a medical exam so we can better understand your health and provide you with a personalized rate. The 30-minute exam is conducted by a paramedic professional, is safe, secure, and can be done at a location and time convenient for you at no cost. You can expect blood pressure, weight, and height to be checked. Blood and urine samples will also be collected.

In some cases, we may approve your application right away and display your policy offer onscreen. More often, though, we'll need more information, starting with a medical exam. Look for an email and text from us, usually within 3–5 business days of submitting your application, with instructions on how to set up your appointment. Following your medical exam, your application and exam results will be sent to underwriting for review, which generally takes 4–6 weeks. If your application is approved, we'll send you your policy offer by email. You do not pay anything until you decide to proceed. If your application is declined, you’ll receive a letter in the mail explaining why.

Log in to your Fidelity account and use our online tracker to view the status of your application 24/7. You'll also find any actions you may need to take to move your application forward and, if your application is approved, how to activate your coverage. You can also access the tracker from our term life insurance overview page.

If your application is approved, we'll notify you of your premium cost in one of two ways—typically in an email within 4–6 weeks or, in some cases, onscreen immediately after submitting your application. Once you accept the offer and make your first premium payment, your policy will take effect and you are protected.

Not at this time. If you do not complete this application in one session, you will need to start over. It is a good idea to have your medical details handy prior to starting the application.

We can help! Please call us at 844-996-5433 Monday–Thursday, 8 a.m.–6 p.m. ET, and Friday, 8 a.m.–5 p.m. ET.

Fidelity term life policies are not currently available to residents of New York.

If you have applied for life, health, or disability insurance before, you might have received a "rating." This is a health classification based on your application details—if you have complex health conditions or high-risk hobbies, you might have received a rating.

If you have prearranged plans to participate in any of the high-risk activities listed on the application, we may have follow-up questions. We consider ballooning, parachuting, hang gliding, vehicle racing, scuba diving, mountain climbing, and any other similar sport or avocation to be high-risk activities.

Health ratings are assigned to you based on a number of risk factors. When assessing your risk, Fidelity's underwriting team looks at all relevant information from the submitted term life application, medical records obtained from your doctor, and results from any additional medical exams requested after the application is completed.

Our quote tool is designed to give you a general idea of what to expect, based on 6 health-related questions. Your final price is personalized, based on the answers you provided in the more detailed application and all items reviewed during the underwriting process, which could include the results of your medical exam.

You'll be able to view your full policy documents securely online—and from there download and print—1 business day from when your coverage starts. If you pay your first premium with a credit or debit card, your coverage will begin right away. If you pay with a bank account, your coverage starts after processing your payment, which typically takes 3 business days.

If you purchased your policy on or after October 10, 2022, you may access your policy details by logging in to your Fidelity account and navigating to the Portfolio Summary page. Your policy information is in Protection Accounts. Policy details are typically available online within 1 business day of issuance.

Yes, if you pay annually, the premium payments may be lower than if you pay semiannually or monthly.

You can make payments monthly, semiannually, or annually. Currently, you may make payments by electronic funds transfer (EFT) from your bank or other financial institution, from your Fidelity brokerage account, or with a credit or debit card.

Yes, you may request billing frequency changes at any time, and the change will take effect on your next policy anniversary. For example, if your policy anniversary date is January 31, you'd continue to pay your premium at the current interval until it updates to the new schedule on January 31 of next year. To update your billing frequency, complete and return the Billing Form—Term Life Insurance form found on the Forms & Applications page. Select Term Life Insurance from the Choose Topics drop-down.

Yes! When your policy is approved, we’ll send you a secure link to enter your credit or debit card details to make your payment online.

If you purchased your policy on or after April 26, 2023, you can update your credit or debit card information online by logging in to your Fidelity account and navigating to the Portfolio Summary page. Your policy information, along with the ability to update payments, is under Protection Accounts. If you purchased your term life insurance policy prior to April 26, 2023, please call us at 844-519-5433 Monday–Friday, 8:30 a.m.–7:00 p.m. ET to switch your payments to a different credit or debit card.

If you purchased your policy on or after April 26, 2023, you can update your payment method to a different credit or debit card online by logging in to your Fidelity account and navigating to the Portfolio Summary page. Your policy information, along with the ability to update payments, is under Protection Accounts. If you purchased your term life insurance policy prior to April 26, 2023, you can change your payment to electronic funds transfer (EFT) or a brokerage account by completing and returning the Billing Form—Term Life Insurance form found on the Forms & Applications page. Select Term Life Insurance from the Choose Topics drop-down.

The policy owner is responsible for paying the premiums on the policy. Premiums can be paid by direct deposit via electronic funds transfer (EFT) or by credit or debit card. If necessary, a power of attorney (POA) can also be added to make payments on the owner's behalf. An owner can name a POA by completing the Durable Power of Attorney, Affidavit and Indemnification—Term Life Insurance form found on the Forms & Applications page. Select Term Life Insurance from the Choose Topics drop-down.

We’re happy to help! If you need assistance setting up payments for a new policy, call us at 844-996-5433 Monday–Thursday, 8 a.m.–6 p.m. ET and Friday, 8 a.m.–5 p.m. ET. For questions on managing payments for an existing policy, review the Billing Form—Term Life Insurance form found on the Forms & Applications page or call us at 844-519-5433 Monday–Friday, 8:30 a.m.–7:00 p.m. ET.

A beneficiary is an individual who receives the benefit from an estate, trust, retirement account, life insurance policy, or account with a transfer on death (TOD) designation. Taking the time to choose your beneficiaries can help your family avoid probate later. Most importantly, you can feel confident that your loved ones will receive the assets you intend for them to have.

Yes, when selecting beneficiaries during the application process, you can select one or more primary beneficiaries to receive the policy payout and one or more contingent beneficiaries in the event the primary beneficiaries pass away.

If you are still living, but your beneficiaries have passed, you can update your beneficiaries at any time. In the event that you pass away and your term life policy has no living beneficiaries, the policy funds would go to your estate.

Yes, you may update your beneficiaries any time after your policy has been issued. If you purchased your policy on or after October 10, 2022, you can do this through your Fidelity profile by logging in to your Fidelity.com account. If this option is not available, you can complete and return a Term Beneficiary Change form, found on the Forms & Applications page. Select Term Life Insurance from the Choose Topics drop-down.

A will does not have any impact on the term policy. The insurance proceeds will pay out to the beneficiaries indicated on the term life policy.

Examples of acceptable beneficiaries include an individual, estate, charity, or trust. If you have multiple beneficiaries, the total allocation must add up to 100%. Fidelity suggests providing as much information as possible about each beneficiary including name, date of birth, Social Security number, etc. In the event of the death of the insured person, this information will simplify the process for the beneficiary making a claim.

Typically, a custodian/guardian of the minor will hold the money until they reach legal age. The money is guaranteed to the minor. If you leave assets outright to your minor children, the custodian/guardian will be responsible for adhering to state guidelines on how your children’s money is spent and invested until the children reach the age of majority. Learn more

We’re sorry for your loss and are here to help you. For policies issued prior to October 10, 2022, please call 888-343-8376 (select option #3), for policies issued on or after October 10, 2022, please call 844-519-5433.

Term life insurance covers you for a set period or term. If you buy a 10-year term policy, for example, you pay a fixed amount for that period of time and at the end of the 10-year term, you can terminate or lapse your policy. If you choose to extend your policy, your premium would increase significantly.

Yes, if you want to decrease your coverage amount, contact Fidelity at any time during the life of the policy. If you want to increase the coverage amount, a new application is required.

Once your term life policy has been issued, you can update your name, address, phone, email, payment method, payment frequency, and beneficiaries at any time. You may be able to make most, if not all, of these changes online through your Fidelity profile. If this option is not available, you can complete and return the appropriate form on the Forms & Applications page. Select Term Life Insurance from the topic drop down.

You can apply for a premium (rate) change if you have changes to a certain health status. Changes to tobacco use may allow you to apply for a new premium amount at any time for the duration of the policy. All other health changes can be considered in the first year after policy issuance.

Generally, you'll have a grace period of 30 days (60 days for policies issued in California) to make your payment. If we do not receive payment by this date, your policy is considered lapsed and you will no longer have coverage until payment is made. To make a payment to bring your policy up to date, please call us at 844-519-5433 Monday–Friday, 8:30 a.m.–7:00 p.m. ET. If you'd like to proactively designate someone to receive duplicate notification of a missed premium payment, complete the Lapse Notice Recipient—Term Life Insurance form found on the Forms & Applications page. Select Term Life Insurance from the Choose Topics drop-down.

Possibly, depending on how long ago the lapse occurred. Your policy is considered lapsed if we did not receive your premium payment within a 30-day grace period after its due date (60 days for policies issued in California). If it has been 60 days or less since the premium due date, you may reinstate your coverage by paying the outstanding premium. If it's been more than 60 days, reinstatement paperwork is required and underwriting may be needed. We're happy to walk you through the process—call us at 844-996-5433 Monday–Thursday, 8 a.m.–6 p.m. ET and Friday, 8 a.m.–5 p.m. ET.

Visit our Forms & Applications page, where you can find a full list of PDFs you can print and mail to us, then select Term Life Insurance from the Choose Topics drop-down.

Yes, changes you make to your name, address, email, or phone number on your Fidelity.com profile will carry over automatically to your term life insurance profile.