Fidelity Security Life Insurance Company

What Fidelity Security Life Insurance Company does

Fidelity Security Life Insurance Company (FSL) is a privately held, family-owned specialty life, accident, and health insurer domiciled in Missouri and headquartered at 2600 Grand Blvd., Kansas City. Incorporated in 1968 by the Jones family and now in its third generation of ownership, FSL underwrites four core product lines: supplemental health (vision, dental, hearing, hospital indemnity, gap medical, prescription drug, and limited medical), life and disability (term, whole, single-premium life, disability income, and substandard disability), annuities under the TaxVantage brand (FPDA, Consolidator, SPDA, MYGA) for the 403(b)/457/401(a) and IRA markets, and stop-loss coverage (specific and aggregate) for self-funded employer benefit plans. The company also formed Fidelity Security Assurance Company in 2022 as a property and casualty subsidiary. Distribution is exclusively wholesale through independent agents, Insurance Marketing Organizations, Managing General Agents, licensed brokers and consultants, and third-party administrators; FSL holds Certificates of Authority in all 50 states plus the District of Columbia, and has paid over $9 billion in claims since inception while serving approximately 21 million policyholders.

FSL's revenue is generated primarily through insurance premiums on its multi-line underwriting portfolio, supplemented by investment income on its reserves portfolio (Total Investment and Other Income of $36.7M in 2025). For FY2025, Direct & Assumed Premium reached $1.7 billion (+5.7% YoY), supported by Capital & Surplus of $366.6M, total admitted assets of $1.151B, and a Risk-Based Capital Ratio of 1,563%. The company maintains an A.M. Best A (Excellent) Financial Strength Rating, reaffirmed annually since June 2019, and has been named to Ward's 50 list of top-performing U.S. life-health insurers 12 times in the last 16 years.

The operating model centers on collaborative co-development with distribution partners to produce customized insurance solutions for market niches, underpinned by conservative capitalization, a proprietary Forms & Documents Support Library, an Enterprise Risk Management framework, and a SeeMyInsurance.com customer portal for annuity contract holders. Recent strategic activity includes the May 2026 launch of CGT Solutions Stop-Loss for gene and cell therapies (with OutcomeRx) and a February 2026 international motor insurance partnership with Shory and EVS for Chinese EVs in the UAE, signaling measured but deliberate expansion beyond the core U.S. specialty underwriting franchise.

Name

Fidelity Security Life Insurance Company

Legal name

Fidelity Security Life Insurance Company

Website

https://fslins.com

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

51–100 employees

Short description

Fidelity Security Life Insurance Company is a privately held, family-owned specialty life, accident, and health insurer underwriting supplemental health, life and disability, annuity, and stop-loss coverage through wholesale distribution channels (agents, IMOs, MGAs, brokers) across all 50 U.S. states.

Ownership category

akta.pro rank

Product category

Specialty Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• Supplemental health insurance
• Life and disability insurance
• Annuity products
• Stop-loss insurance
• Specialty insurance underwriting

Headquarters

HQ city

Kansas City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: FSL collects insurance premiums across multiple product lines including supplemental health, life and disability, annuity, and stop-loss insurance products. Premium income is the primary revenue stream, with direct and assumed premium of $1.7 billion in 2025.
2. Investment Income: Investment and other income generated from FSL's investment portfolio. Total investment and other income was $36.7 million in 2025.

Go-to-market motion4 records

Distribution channels5 records

Marketing channels4 records

Core offering

Fidelity Security Life Insurance Company is a specialty insurance underwriter that develops and underwrites supplemental health, life and disability, annuity, and stop-loss insurance products. The company distributes its products exclusively through independent agents, insurance marketing organizations (IMOs), managing general agents (MGAs), licensed brokers and consultants, and third-party administrators, serving self-funded employers, employers offering supplemental health benefits, and individuals seeking retirement, life, and disability coverage.

Product overview

Fidelity Security Life Insurance Company (FSL) offers a portfolio of insurance products across four core solution areas: Supplemental Health (vision, limited medical, gap medical, hospital indemnity, prescription drug, dental, and hearing coverage), Life & Disability (term life, whole life, single-premium life, disability income), Annuity products under the TaxVantage brand (FPDA, Consolidator, SPDA, and MYGA), and Stop-Loss insurance (specific and aggregate). The company also underwrites specialized products like CGT Solutions Stop-Loss covering gene and CAR T-cell therapies. FSL operates as a specialty insurance underwriter with expertise in life, disability, supplemental health, annuity, and stop-loss coverage, managing over $1 billion in assets and $1.7 billion in direct and assumed premium annually.

Differentiator

Problem solved

Functional benefit

Brands

• TaxVantage: Family of annuity products including TaxVantage FPDA (flexible premium deferred annuity), TaxVantage Consolidator (flexible premium deferred annuity for transfers and rollovers), TaxVantage SPDA (single premium deferred annuity), and TaxVantage MYGA (multi-year guaranteed annuity)

Quantifiable outcome

• 5.7% growth in Direct & Assumed Premium in 2025, reaching $1.7 billion
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• OutcomeRx Insurance Management ServicescoreStrategic or Co-development Partner · 12 May 2026Strategic partnership where OutcomeRx launched CGT Solutions Stop-Loss, a standalone medical stop-loss insurance product covering gene and CAR T-cell therapies for group health plans, underwritten by Fidelity Security Life. The product reimburses therapies, administration, and travel-related expenses, with access to patient care navigation and 100+ Centers of Excellence network.
• ShorycoreStrategic or Co-development Partner · 25 February 2026Strategic partnership with Shory and EVS to launch an exclusive insurance solution for Chinese electric vehicles in the UAE, combining Shory's digital platform, Fidelity United's motor coverage, and EVS's certified repair network.
• Electric Vehicle Services (EVS)coreStrategic or Co-development Partner · 25 February 2026Partnership providing certified EV repair network for Chinese electric vehicles in the UAE, addressing insurance acceptance, premium affordability, and access to qualified EV repair facilities.
• OneSight EssilorLuxottica FoundationminorOthersAnnual vision clinic partnership providing vision care to families in need. FSL sponsors the clinic every October in Kansas City with employees volunteering. In 2024, 794 students received eye exams and 576 received new glasses. The clinic leverages OneSight's proven clinic model and manufacturing capabilities.
• AvesisminorOthersVision provider network partner for FSL supplemental health policyholders.
• EyeMed Vision CareminorOthersVision provider network partner for FSL supplemental health policyholders.
• National Vision Administrators (NVA)minorOthersVision provider network partner for FSL supplemental health policyholders.
• Fidelity Security Life Insurance Company of New YorkminorOthersAffiliate company acquired in 2011 as Old Republic Life Insurance Company of New York and renamed to achieve FSL's goal of being fully licensed in all states.
• Fidelity Security Assurance CompanyminorOthersAffiliate company, a property and casualty insurance carrier formed in 2022.
• Forrest T. Jones & Company, Inc.minorOthersAffiliate company under common ownership or control.
• Forrest T. Jones Consulting CompanyminorOthersAffiliate company under common ownership or control.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Kansas City Life Insurance Company: Also headquartered in Kansas City, Missouri, Kansas City Life is a similarly sized specialty life insurer offering individual life, annuities, and group products distributed through independent agents. Closest geographic and product-line peer to FSL.
• Symetra Financial Corporation: Specialty life insurer focused on group life and disability, individual life, retirement annuities, and medical stop-loss. Comparable mid-sized specialty carrier with strong distribution through brokers and producers.
• Security Benefit Corporation: Mid-sized specialty insurer and retirement-services firm with a strong focus on annuities (including MYGAs and FPDA-like products) distributed through IMOs and producers — a direct competitor to FSL's TaxVantage suite.
• American Equity Investment Life Insurance: Specialty annuity writer focused on fixed-index and multi-year guaranteed annuities distributed through IMOs and independent agents — a focused competitor to FSL's TaxVantage MYGA and FPDA products.

Broad incumbents

• Assurant: Large specialty insurance and lifestyle services carrier with a sizable Employee Benefits division offering group disability, life, supplemental health, and dental/vision products — overlapping substantially with FSL's supplemental health and life & disability lines.
• Sun Life Financial: Major global insurer with a U.S. stop-loss franchise (Sun Life Stop-Loss, formerly Assurant Employee Benefits) and group benefits lines, making it a direct functional competitor in FSL's largest specialty lines.
• Cigna Group: Operates a sizable stop-loss and supplemental health business through its Evernorth services arm, providing direct competition to FSL's stop-loss offerings for self-funded employer plans, while also offering life and disability cover.
• Mutual of Omaha: Mutual insurer offering supplemental health (vision, dental, accident, hospital indemnity), life insurance, and Medicare Supplement products distributed through independent agents — competing with FSL's supplemental health and individual life lines.
• Voya Financial: Large retirement, investment, and employee benefits carrier with significant annuity and group life/disability businesses sold through intermediaries and corporate plans — competes with FSL in TaxVantage annuities and group lines.
• Lincoln Financial Group: Major U.S. life insurer with strong group disability, life, and annuity franchises distributed through independent producers and corporate benefit channels — directly comparable to FSL's life/disability and annuity business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fidelity-security-life-insurance-company

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fidelity Security Life Insurance Company