Fidelity Life Association says it is selling a cheaper alternative to simplified issue mortgage life insurance.
Fidelity Life, Oak Brook, Ill., has introduced Rapid Decision Mortgage Term life insurance, a product that can provide up to $500,000 in coverage while guaranteeing that premiums will stay level for a term of 15, 20, 30 or 40 years.
Fidelity Life says it can put applicants for the new product through a complete underwriting process in a few days.