Fidelity Life vs Lumico Life

Verdict

The most important difference is simple: only Fidelity Life is selling new coverage. Lumico, formerly the U.S. insurer of Swiss Re, stopped accepting new applications on January 8, 2025, and on April 1, 2026, Swiss Re completed its sale to Wilton Re. If you are shopping online for simplified-issue term or final expense coverage today, Lumico is not an option, and this comparison is mainly useful for understanding what each company was built to do.

If you already own a Lumico policy, nothing about it changes: it stays in force on its original terms, Lumico still bills and pays claims, and the 2026 sale to Wilton Re changed only the company behind it. The practical question for you is not which company to pick but whether to keep the policy (usually yes, until replacement coverage is approved and issued). See when your life insurance policy is sold to another company and closed blocks: what happens to policies a company stops selling.

Fidelity Life is a stock insurer founded in 1896 and owned since June 28, 2024 by iA Financial Group through Vericity. It sells RAPIDecision term, senior term, final expense, guaranteed issue and senior whole life, mostly by phone and online through its sister agency eFinancial. Its AM Best rating is A (Excellent), upgraded from A- in October 2026, with a stable outlook.

Choose Fidelity Life if

• You want to buy new term, final expense or senior whole life coverage; it is the only one of the two taking applications.
• You want a fast online or phone purchase, with no medical exam on final expense, guaranteed issue, senior policies and some term applicants.
• You are older or in poor health and want a guaranteed-issue or accidental death option (with reduced benefits in the first years).
• You want term of 10, 15, 20 or 30 years with coverage up to $2 million.

Choose Lumico (Swiss Re) if

• You already own a Lumico policy and are deciding whether to keep it; it remains valid and Lumico continues to service it.
• You are a beneficiary who needs to file a claim; Lumico accepts claims online and publishes a 7-to-10-business-day target for routine ones.
• You hold a Lumico Medicare Supplement plan and need the separate health customer care line.
• You want to know who stands behind the policy now that Wilton Re owns Lumico.

Key differences

Before you decide

If you are buying, get quotes for the same coverage amount and term from Fidelity Life and from other insurers, and compare the rating dates; see how to compare life insurance quotes fairly, AM Best, S&P, Moody's and Fitch ratings explained and online life insurance companies and agencies explained. If you hold a Lumico policy, check the current AM Best rating, which may change under Wilton Re ownership, before cancelling anything. State guaranty association protection applies regardless of who owns the insurer.