Fidelity & Guaranty Life Insurance Company is a reputable insurance provider that specializes in life insurance and annuity products. The company is based in Baltimore, Maryland and has been providing insurance services for over 60 years. Fidelity & Guaranty Life Insurance Company offers a range of products to meet the diverse needs of their clients. In this article, we will provide a comprehensive guide about Fidelity & Guaranty Life Insurance Company, including its history, products, pros and cons, and frequently asked questions.
History of Fidelity & Guaranty Life Insurance Company
Fidelity & Guaranty Life Insurance Company has a rich history that dates back to 1959. The company was founded in Baltimore by Edwin T. Meredith, who was the founder of the Meredith Corporation. The goal of the company was to provide affordable life insurance and annuity products to its clients. Over the years, Fidelity & Guaranty Life Insurance Company has grown to become a prominent insurance provider, with over $29 billion in assets as of 2020.
In December 2017, Fidelity & Guaranty Life Insurance Company was acquired by Fidelity National Financial, a leading provider of title insurance, mortgage services, and diversified services. The acquisition has enabled Fidelity & Guaranty Life Insurance Company to expand its products and services, as well as its reach.
Products Offered by Fidelity & Guaranty Life Insurance Company
Fidelity & Guaranty Life Insurance Company offers a range of life insurance and annuity products, including:
Product |
Description |
Indexed Universal Life |
This product offers permanent life insurance coverage with the potential for cash value accumulation based on the performance of a selected market index. |
Fixed Index Annuity |
This is a tax-deferred annuity product that offers the potential for growth tied to the performance of a selected market index. |
Fixed Deferred Annuity |
This annuity product provides a guaranteed rate of interest for a specified period of time. |
Single Premium Immediate Annuity |
This annuity product provides guaranteed income payments for life in exchange for a single premium payment. |
Term Life Insurance |
This is a temporary life insurance policy that provides coverage for a specific period, typically 10-30 years. |
Whole Life Insurance |
This is a permanent life insurance policy that provides coverage for the entire lifetime of the insured individual. |
All of the products offered by Fidelity & Guaranty Life Insurance Company are designed to provide financial protection and security for individuals, families, and businesses. The company offers personalized customer service and support to ensure that their clients receive the best possible service.
Pros and Cons of Fidelity & Guaranty Life Insurance Company
Pros
There are several benefits to choosing Fidelity & Guaranty Life Insurance Company as your insurance provider:
- Long-standing reputation: With over 60 years of experience, Fidelity & Guaranty Life Insurance Company has a proven track record for providing reliable and affordable insurance products.
- Range of products: The company offers a range of life insurance and annuity products to meet the diverse needs of their clients.
- Customized solutions: Fidelity & Guaranty Life Insurance Company offers personalized solutions that are tailored to meet the unique needs of each client.
- Customer service: The company provides excellent customer service and support to ensure that their clients are satisfied.
Cons
While there are many benefits to choosing Fidelity & Guaranty Life Insurance Company, there are a few potential drawbacks to consider:
- Limited availability: Fidelity & Guaranty Life Insurance Company is not available in all states.
- Cost: Some of the products offered by Fidelity & Guaranty Life Insurance Company may be more expensive than other insurance providers.
Frequently Asked Questions
What is the process for applying for life insurance or an annuity with Fidelity & Guaranty Life Insurance Company?
To apply for a life insurance or annuity product with Fidelity & Guaranty Life Insurance Company, you will need to contact a licensed agent. The agent will guide you through the application process and help you choose the best product that meets your needs.
How long does it take for a policy to be issued?
The time it takes for a policy to be issued will depend on several factors, such as the type of product, the underwriting process, and the complexity of the application. Once your application has been submitted, an underwriter will review the information and determine if you are eligible for coverage. The policy will be issued once the underwriting process is complete and all requirements have been met.
What happens if I need to make changes to my policy?
If you need to make changes to your policy, such as updating your beneficiary information or changing the coverage amount, you will need to contact a licensed agent. The agent will assist you with the necessary forms and documentation to make the changes.
What happens if I need to file a claim?
If you need to file a claim, you will need to contact Fidelity & Guaranty Life Insurance Company’s claims department. The claims representative will guide you through the process and provide you with the necessary forms and documentation to file the claim.
How can I contact Fidelity & Guaranty Life Insurance Company?
You can contact Fidelity & Guaranty Life Insurance Company by phone, mail, or email. The company’s customer service representatives are available to assist you with any questions or concerns you may have.
Conclusion
Fidelity & Guaranty Life Insurance Company is a reputable insurance provider that offers a range of products to meet the diverse needs of their clients. The company has a long-standing reputation for providing reliable and affordable insurance products, as well as personalized customer service and support. While there are a few potential drawbacks, overall, Fidelity & Guaranty Life Insurance Company is an excellent choice for individuals, families, and businesses looking for financial protection and security.
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