To cancel a Fidelity Life policy, send Fidelity Life Association a signed, dated written request naming your policy number and the date you want coverage to end, then confirm in writing that the policy has terminated and billing has stopped. The insurer publishes service request forms, including a surrender form, in the support area of its website. Before you send anything, read the rider list on your own policy, because a return of premium rider is one of the things cancelling early gives up.
Fidelity Life Association is an Illinois life insurance company chartered in 1896 and based in Des Plaines, Illinois, and it sells term, senior term, final expense, guaranteed issue and senior whole life coverage under its RAPIDecision names, along with standalone accidental death insurance.
The return of premium rider is what changes the math here
Fidelity Life sells a small, tightly defined product line, and one of the named riders on it is a return of premium rider. It is designed to give your premium back to you if you are still alive at the end of the term. If that rider is attached to your policy, you have been paying more every month specifically to earn that return, and cancelling before the term runs out generally gives it up. That is the calculation most people miss when they decide to end a Fidelity Life term policy, because the rider is listed once on the schedule page and then rarely mentioned again. So before you write to anyone, find the rider list on your own contract and read it. What has to be true for the return to be paid, and how much of your premium comes back, are set by the wording of that rider rather than by any general rule, and they differ from one contract to the next. If the rider is there and the end of the term is close, waiting can be worth more than cancelling. If it is not there, you can move ahead knowing there is nothing left sitting on the table.
How to cancel, step by step
- Find your policy number. It is on the policy itself and on any statement. Work from your own documents rather than from a letter you were not expecting.
- Put the request in writing. Sign and date it, name the policy number, and state the exact date you want coverage to end. A phone call alone leaves you nothing to point at later.
- Say if you are inside the free-look window. If the policy is new, your state may entitle you to a full refund. Make that request explicit rather than assuming it is applied.
- Ask for written confirmation. You want the termination date and, if there is cash value, the amount being released. Keep it.
- Stop the payment last, not first. Only once the insurer has confirmed the policy has ended. Stopping the draft first creates a lapse rather than a cancellation, which is messier and can cost you the cash value.
What to check before you send it
These are the things people most often wish they had looked at first. None of them are reasons not to cancel. They are the difference between a decision and a regret.
- Whether a return of premium rider is attached. Fidelity Life offers a return of premium rider designed to return premium to you if you outlive the term. It is the feature people most often forget they have been paying for. Read the rider list on your policy schedule page, and read the rider wording itself, before you send anything.
- The exact company name on your contract. The insurer is Fidelity Life Association, A Legal Reserve Life Insurance Company, based in Des Plaines, Illinois. Several US insurers use the word Fidelity in their names, and Fidelity Investments is a separate, unrelated firm. If the name on your paperwork is a different Fidelity, your request needs to go somewhere else entirely.
- Which product you actually hold. Fidelity Life sells term and senior term, senior whole life, final expense and guaranteed issue coverage under its RAPIDecision names, plus standalone accidental death insurance. Term generally has no cash value. Whole life may have accumulated some. Accidental death coverage pays only when death is accidental, so it is a different thing again, and worth identifying before you decide.
- Whether anyone else is insured on the policy. The company also offers a child rider and a family accidental death benefit rider. If either is attached, other people in your household lose their coverage the day the policy ends. Confirm exactly who is insured, not just who is paying.
- Whether the coverage came through your employer. Fidelity Life developed LifeTime Benefit Term in 2007 for the voluntary worksite market, so some policyholders enrolled through an employee benefits program rather than buying direct. If that is what you hold, ask two separate questions: what your benefits office needs in order to stop the deduction, and what the insurer says about whether the coverage can continue on its own. Those answers come from two different places.
- What the same coverage would cost you today. Much of what Fidelity Life sells is underwritten on health questions rather than a full medical exam, and it was priced on the health you had on the day you applied. If your health has changed since then, replacing the policy can cost more or be harder to get approved than you expect. Get the replacement quote before you end what you have, not after.
When cancelling is the right answer
Cancelling is the right answer when the coverage no longer matches the need. If you already hold better coverage elsewhere that is approved and in force, if the debt or obligation the policy was bought for is gone, or if you are paying for two small policies doing the same job, ending one is a sound and considered decision. A review that concludes you should keep exactly what you have is just as good an outcome, and we will tell you so plainly.
Common questions
How do I cancel a Fidelity Life insurance policy?
Send Fidelity Life Association a signed, dated written request with your full name, policy number, and the date you want coverage to end, and ask for written confirmation that the policy has terminated and billing has stopped. The company publishes service request forms, including a surrender form, in the support area of its website, and using its own form is usually the cleanest route. Service contact details are printed on your policy documents.
Is Fidelity Life the same company as Fidelity Investments?
No. They are two separate, unrelated companies with similar names. Your policy is with Fidelity Life Association, A Legal Reserve Life Insurance Company, based in Des Plaines, Illinois. Several other US insurers also use the word Fidelity in their names, so if you are not sure which company issued your policy, read the company name on the first page of the contract and check that name against your state insurance department licensee lookup before you write to anyone.
Who owns Fidelity Life now?
Fidelity Life Association is an operating subsidiary of Vericity, Inc. In June 2024 Vericity completed a merger and became a wholly owned subsidiary of iA American Holdings Inc., which ended its time as a publicly traded company. A change in ownership does not change the terms of a policy already in force. Your contract still says what it said the day it was issued, and your cancellation request still goes to the insurer named on it.
I bought online and cannot find my policy. Where should I look?
Fidelity Life distributes much of its coverage directly, through its affiliated call center agency Efinancial, so there is often no folder in a drawer and no local agent holding a copy. Search your email for the approval message and the policy documents that followed it, including your spam and archived folders. The company also offers an online login for existing policyholders. Note that marketing email about Fidelity Life coverage may arrive under the Efinancial name, which is a legitimate connection rather than a red flag.
My policy is accidental death coverage only. Does cancelling work the same way?
The mechanics are the same: a signed, dated written request and a written confirmation back. What differs is what you are giving up. Accidental death coverage pays only if death results from an accident, and it generally carries no cash value, so there is nothing to surrender. It is worth knowing which of those two things you hold before you cancel, because people sometimes believe they have full life insurance when the contract is accidental death only, or the reverse.
Will I get money back when I cancel?
It depends on the product. Term coverage generally has no cash value, so there is nothing to return beyond any unearned premium, unless a return of premium rider is attached and its conditions have been met. Whole life and final expense policies may have built cash surrender value, and the current figure appears on your statement or can be confirmed by the insurer. Any amount you receive above the total premiums you paid can be taxable, so ask for the number before you decide.
What if I only just bought the policy?
Every state gives new policyholders a free-look period, commonly ten to thirty days from delivery, during which you can cancel and have your premium returned. The exact length is set by your state and printed on the policy itself. Because Fidelity Life is built to reach an underwriting decision during or shortly after the application, a lot of buyers are still inside that window without realising it. If you are, say so explicitly in your written request.
Will my coverage end the day I ask to cancel?
Not usually. Most life insurers end coverage on the next premium due date or on the date they process a signed request, whichever the contract specifies. That gap matters, because until the policy actually terminates you are still covered. Never treat a phone call as the end of it: confirm the termination date in writing and keep the confirmation.
Should I just stop paying instead of cancelling?
It is simpler than it looks to do this badly. Stopping payment starts the grace period, and if the policy has cash value the insurer may keep it in force by taking loans against that value, which can quietly drain it. A written request creates a clean, dated record of what you asked for and when. Cancelling on purpose is always tidier than lapsing by accident.
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This guide is general information, not legal, tax, or financial advice. Cancellation terms, refunds, and free-look windows depend on your contract and your state. Policy Review Center is a free comparison and referral service, not an insurance agency, insurer, or producer, and it connects you with independent licensed agents. Carrier names are used for reference only and do not imply any endorsement or affiliation.