MAYFIELD VILLAGE,
Ohio and CHICAGO, Oct. 26,
2021 /PRNewswire/ -- Progressive Insurance, in
collaboration with Fidelity Life, is introducing
RAPIDecision Life One℠, a new one-year term life
insurance product designed for first time life insurance buyers and
those looking for life insurance coverage without the long-term
commitment.
With RAPIDecision Life
One℠ consumers can get a quote online by answering
five basic health questions. No medical exam or phone call is
required, and if approved, customers can get coverage in just
minutes. Policies are underwritten and serviced by Fidelity
Life.
Policies start at just $7 per
month,* and consumers can select from coverage options ranging from
$50,000 to $200,000. At the end of the policy term,
customers have the option to purchase a new one-year term policy or
explore longer term options.
"Our research uncovered an unmet need among younger consumers
interested in quick, quality coverage, at an affordable price and
without a medical exam, so that's what we delivered," said
Laura Zimmerman, Fidelity Life Chief
Marketing Officer. "Developed with millennial consumers in mind and
individuals valuing flexibility, the product offers a range of
coverage options, and provides philanthropic-minded consumers the
option to name a charity as a beneficiary."
"Short-term life insurance gives people considering life
insurance for the first time a chance to familiarize themselves
with the product before committing to a longer-term policy," said
Drew Purcell, Progressive Business
Development Leader. "Getting coverage is quicker and simpler than
the typical life insurance process, but still provides ample
coverage that could help named beneficiaries cover the costs of
things like personal loans, child care, or everyday expenses."
Progressive and Fidelity Life have a long history of delivering
new products and services designed to make it faster and easier for
consumers to get the coverage they need. In 2018, the companies
collaborated to offer RAPIDecision® Life,
a longer duration term product, to qualified consumers all online.
Now, they've combined Fidelity Life's track record of life
insurance innovation with Progressive's deep understanding of
customer needs and preferences to create a new life insurance
solution designed especially for first-time life insurance buyers.
To learn more about RAPIDecision Life
One℠ 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 Fidelity Life
Assocation. All rights reserved.
*7/month rate applies to males (ages 30-32) and females (ages
39-41), non-tobacco users, for $50,000 of coverage. Lower rates available for
females. Rates are for information purposes, do not constitute an
offer of insurance and, along with policies, subject to
underwriting approval.
About Progressive
The Progressive Group of Insurance Companies makes it
easy to understand, buy and use car
insurance. Progressive offers choices so
consumers can reach us whenever, wherever and however it's most
convenient - 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
autos and trucks, motorcycles, boats, recreational vehicles, and
homes; it is the third largest auto insurer in the country, a
leading seller of motorcycle and commercial auto
insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of
offering shopping tools and services that save customers time and
money, like Name Your Price®, Snapshot®, and HomeQuote
Explorer®.
The Common Shares of The Progressive Corporation, the
Mayfield Village, Ohio-based
holding company, trade publicly at NYSE: 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 for middle market
consumers. With national call centers, digital and digitally
enabled sales and underwriting processes, quick policy issuance,
and an emphasis on products not medically underwritten at the time
of sale, it is easier for customers to get the coverage they need
at a price they can afford. For more information,
visit www.vericity.com.
About 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 first-to-market automated
processes and patented products like
RAPIDecision® Life and LifeTime Benefit
Term, Fidelity Life makes it faster, easier, and more affordable
for customers to get life insurance coverage. To learn more,
visit www.FidelityLife.com
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SOURCE Progressive Insurance