Application Process
For a variety of reasons that benefit our clients, Fidelity
Insurance Company, Ltd. (Fidelity) chooses not to transact business in the
United States. However, U.S. citizens can enjoy the advantages of Fidelity's
Life Insurance and Annuities through the establishment of international
vehicles, such as an international Asset Protection Trust (APT) or a Limited
Liability Company (LLC).
Applications for insurance and any required medical exams must be
completed outside the U.S.
Life Insurance Application Process
The first step in applying for a life policy with Fidelity is to
have a consultation with a Fidelity advisor. The advisor will review your
current financial plan, your financial situation, and your goals and
objectives. Fidelity advisors are independent professionals selected for their
knowledge and reputation in the financial planning industry. The advisor will
determine if Fidelity’s life or annuity products would serve your needs
as a part of an overall strategy.
Please note that all applications and forms
must be signed outside the U.S.
Illustration
Prior to the conference, the advisor will order an illustration as
a first step. This illustration will give you projected insurance and
investment values using certain assumptions. The advisor will need your age,
gender, and basic health information. An advisor can also help you
estimate the amount of insurance that will be right for you, based on the
amount of money you would like to invest and your financial goals. Given those
parameters, the advisor will order a sample illustration so that, when
attending a conference, he can show you what your program might look like.
Medical Exam
As a first step, an advisor will help set-up a medical exam that
will take place at your convenience during the conference. The medical exam
should be scheduled at least one week before leaving for the conference to
ensure that time and medical supplies will be available.
If a medical exam does not take place in conjunction with a
conference, there are several pre-approved facilities where you can get a
medical exam completed:
Freeport
Nassau
Montreal
Toronto
Vancouver
Los Cabos
It is critical to schedule any medical exam at these pre-approved
facilities at least two weeks prior to your arrival. Walk-ins are never
accepted. Exams are done by appointment only. The facilities only have a
limited number of times available for these exams.
If you are traveling internationally and wish to schedule a private
meeting and/or a medical exam in conjunction with your trip, meetings and exams
at other facilities may be arranged. Medical exams at facilities other than
those listed must be arranged with a minimum of six weeks notice. This time is
necessary for Fidelity to locate a suitable clinic and to verify the quality
and reliability of the facility.
It is important that you are aware that for underwriting purposes,
medical exams are only good for six months. If your application and necessary
information is not received in time to complete the underwriting process within
six months of your exam, a new medical exam will be necessary.
Underwriting Guidelines
The following guidelines are provided so that you can see what the
medical exam requirements are for your age and for the various levels of death
benefit.
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Paramedical
HOS
Blood |
Paramedical
HOS
Blood |
MD Exam
HOS
EKG
Blood |
MD Exam
HOS
EKG
Blood |
MD Exam
HOS
EKG
Blood |
Paramedical
HOS
Blood |
Paramedical
HOS
Blood |
MD Exam
HOS
EKG
Blood |
MD Exam
HOS
EKG
Blood |
MD Exam
HOS
Treadmill
Blood |
Paramedical
HOS
Blood |
Paramedical
HOS
EKG |
MD Exam
HOS
EKG
Blood |
MD Exam
HOS
Treadmill
Blood |
MD Exam
HOS
Treadmill
Blood |
Paramedical
HOS
EKG |
Paramedical
HOS
Treadmill |
MD Exam
HOS
Treadmill
Blood |
MD Exam
HOS
Treadmill
Blood |
MD Exam
HOS
Treadmill
Blood |
Life Application
You will be required to complete a few critical documents for your
life insurance application.
Personal History
Questionnaire
This questionnaire tells the underwriter your basic personal information; i.e.,
name, addresses, social security number, contact information, date of birth,
marital status, tobacco use, etc. To complete the questionnaire, you will need
to provide the names and addresses of any doctors you have seen in the last ten
years.
Financial Questionnaire
The Financial Questionnaire
includes detailed questions about your family’s
financial status. Since you will be asking the insurance
company to take a substantial financial risk to insure
your life, it is critical that Fidelity know your
exact status in order to issue the policy that will
best suit your needs. It is critical that you take
the time to complete this questionnaire completely
and accurately.
Authorization
and Acknowledgement
This form gives Fidelity permission to obtain medical information.
Notice and Consent for Blood
This form gives Fidelity permission to draw and test blood.
Statement of
Understanding
The statement of understanding says that a life policy does not go into effect
until the insurance company makes an offer to a client and an adequate premium
payment is received.
IMPORTANT NOTE:
There will be many built in redundancies in this process. Many questions will
be asked as many as three times (during stages of the application process) to
ensure accuracy. It is therefore important that you take the time to completely
and accurately answer all questions so that a consistent and clear picture of
you and your needs can be developed.
Underwriting
The underwriting process is the method by which Fidelity evaluates
all pertinent health information and decides whether to accept financial risk,
determines the death benefit available, and calculates the premium payment.
The first step in the underwriting process is the collection of all
the information described above.
In addition, Fidelity will order Attending Physician Statements
(APS) from all the doctors you have consulted with in the last ten years, motor
vehicle reports and a background check.
A phone interview will be arranged between you and a professional
insurance interviewer. This interviewer is a highly skilled and knowledgeable
professional. All information is treated in a highly confidential manner.
As a general rule of thumb, Fidelity will consider issuing a life
policy with a face amount equal to one half of your net worth, or ten times
your income, or the estimated amount of your anticipated estate tax liability.
Effects of Anti-Money Laundering and Patriot Act Legislation
As a result of Anti-Money Laundering, Know Your Customer, and
PATRIOT Act legislation, insurance companies around the world have tightened
their underwriting procedures and guidelines. Factors that an underwriter might
have winked at in the past now undergo serious scrutiny.
Likewise, the computer age also has allowed the underwriter access
to information that, in the past, would never have reached his or her desk.
Therefore, it is critical that all forms be completed honestly and accurately.
Once the underwriting process is successfully completed, Fidelity
will make an offer. If you choose to accept Fidelity's offer, the first premium
payment will be due at that time. For more information please see
Policy Issue and Premium Payment.
To find out more please contact us:
Email: clientserv@fidinsco.com
The Law
Building
PO Box 14, The Valley
Anguilla, British West Indies
Phone:
264- 497-0484
Fax:
264- 497-5753
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