Progressive Insurance (SM) and Fidelity Life launch one-year short-term life insurance
One-year term policy offers a quick and affordable way to get flexible life insurance coverage
Posted: October 26, 2021 at 8:00 a.m. CDT|Update: 33 minutes ago
MAYFIELD VILLAGE, Ohio and CHICAGO, October 26, 2021 / PRNewswire / – Progressive Insurance, in collaboration with Fidelity Life, launches FASTecision Life One℠, a new one-year term life insurance product designed for first-time buyers and those looking for long-term, no-obligation life insurance coverage.
With FASTLife One decision℠ consumers can get a quote online by answering five basic health questions. No medical exam or phone call is required, and if approved, clients can get coverage in just minutes. The policies are underwritten and managed by Fidelity Life.
Policies only start $ 7 per month *, and consumers can choose from coverage options ranging from $ 50,000 To $ 200,000. At the end of the policy term, clients have the option of purchasing a new one year policy or exploring longer term options.
“Our research revealed an unmet need among young consumers interested in fast and quality coverage, affordably and without a medical exam, so that’s what we provided,” said Laura Zimmerman, Marketing Director of Fidelity Life. “Developed with millennial consumers and those who value flexibility in mind, the product offers a range of coverage options and offers philanthropy-minded consumers the ability to name a charity as a beneficiary. “
“Short term life insurance gives people who are considering life insurance for the first time the opportunity to familiarize themselves with the product before committing to a longer term policy,” said Drew purcell, leader in progressive business development. “Obtaining coverage is faster and simpler than the typical life insurance process, but still provides sufficient coverage that could help named beneficiaries cover the costs of things like personal loans, child care. ‘children or daily expenses. “
Progressive and Fidelity Life have a long history of new products and services designed to make it faster and easier for consumers to get the coverage they need. In 2018, companies collaborated to deliver FASTdecision® Life, a longer term product, to qualified consumers, all online. Today, they have combined Fidelity Life’s track record of life insurance innovation with Progressive’s in-depth understanding of client needs and preferences to create a new life insurance solution designed specifically for new buyers of life insurance.
To learn more about FASTLife One decision℠ visit https://www.progressive.com/life/1-year-short-term-life-insurance/
Progressive insuranceSM is a trademark of Progressive Casualty Insurance Corporation. RapidDecision® and RapidDecision Life OneSM are trademarks of the Fidelity Life Association. All rights reserved.
* The rate 7 / month applies to men (30-32 years) and women (39-41 years), non-smokers, for $ 50,000 cover. Lower rates available for women. Rates are indicative, do not constitute an offer of insurance and, with policies, are subject to approval of underwriting.
The Progressive Group of Insurance Companies makes it easy to understand, buy and use car insurance. Progressive offers choices so consumers can reach us when, where and how it suits them best – online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in person with a local agent.
Progressive provides insurance for personal and commercial automobiles and trucks, motorcycles, boats, recreational vehicles and homes; it is the third largest automobile insurer in the country, one of the main sellers of motorbike and commercial auto insurance, and one of the first 15 home insurance companies.
Founded in 1937, Progressive continues its long history of offering purchasing tools and services that save customers time and money, such as Name Your Price®, Snapshot® and HomeQuote Explorer®.
The common shares of The Progressive Corporation, the Village of Mayfield, OhioNYSE based, publicly traded holding company: PGR.
About Vericity Inc.
Vericity, Inc. (Nasdaq: VERY), through its subsidiaries, Fidelity Life Association and eFinancial, LLC, is a leader in direct-to-consumer life insurance solutions. As an innovator in product design and distribution, the company makes life insurance affordable and accessible to mid-market consumers. With nationwide call centers, digital and digitally enabled sales and underwriting processes, rapid policy issuance, and a focus on non-medically underwritten products at the time of sale, it’s easier for them. customers get the coverage they need at an affordable price. For more information visit www.vericity.com.
About the Fidelity Life Association
Founded in 1896, Fidelity Life has a long history of helping everyday families achieve greater financial security. With a legacy of service and innovation, including the first automated processes on the market and patented products like FASTdecision® Lifetime and Lifetime Guarantee, Fidelity Life enables clients to obtain life insurance coverage faster, easier and at a lower cost. To learn more, visit www.FidelityLife.com
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