Vericity
Vericity was a US life insurance specialist offering affordable term, final expense, permanent, and accidental death products under the RAPIDecision® brand, serving middle-American consumers. It was acquired by iA Financial Group in June 2024 for $170 million.
- Company typePublic
- Founded2013
- HeadquartersChicago, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Vericity does
Vericity Inc was a US life insurance specialist that provided affordable life insurance products targeted to the middle American market. The company operated a portfolio of term life, final expense, permanent life, and accidental death insurance products marketed under the RAPIDecision® brand, including simplified-issue and guaranteed-issue offerings that frequently do not require medical exams. Following its June 2024 acquisition by iA Financial Group for $170 million, the operating business continues as Fidelity Life Association (fidelitylife.com), serving individual consumers seeking financial protection, estate planning, and final expense coverage.
The company's core technology centers on a conservative underwriting platform designed for niche life insurance segments, with product lines spanning RAPIDecision® Life, RAPIDecision® Senior Life, RAPIDecision® Final Expense, RAPIDecision® Guaranteed Issue Life, and RAPIDecision® Senior Whole Life, complemented by riders including accidental death, terminal illness, child, inflation, and return-of-premium options. Distribution is sales-led through agent-facing infrastructure and licensed-agent call lines, supported by an employer-benefit channel (Lifetime Benefit Term). Strong solvency metrics and disciplined expense ratios are cited as performance differentiators, with investment yields benefitting from elevated US Treasury rates.
Vericity's business model is built on recurring life insurance premiums from a horizontally distributed base of individual policyholders. The company was previously listed on Nasdaq under ticker VERY, was backed by private equity firm J.C. Flowers & Co. from 2017, and is now a wholly-owned subsidiary of iA Financial Group. Revenue mechanics rely on stable premium inflows and net investment income rather than transactional or fee-based streams.
Vericity firmographics
Firmographics- Name
- Vericity
- Legal name
- Vericity Inc
- Website
- https://vericity.com
- Company type
- Public
- Founded year
- 2013
- Operating status
- Acquired
- Headcount range
- 101–250 employees
- Short description
- Vericity was a US life insurance specialist offering affordable term, final expense, permanent, and accidental death products under the RAPIDecision® brand, serving middle-American consumers. It was acquired by iA Financial Group in June 2024 for $170 million.
- Ownership category
- akta.pro rank
Vericity industry classification
Industry- Product category
- Life Insurance
- NAICS
- Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)
- SIC
- Life Insurance (6311)
- akta.pro industry
- Whole Life InsuranceDecreasing Term Life Insurance (Mortgage/Loan Protection)Guaranteed Issue Whole Life Insurance
Keywords
Where Vericity is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Markets served
Vericity business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Others
Revenue model
- Life Insurance Premiums: Vericity generates revenue through stable premium revenues from life insurance products, with investment yields benefiting from elevated US Treasury rates
Go-to-market motion1 record
Vericity product offering
Product offeringCore offering
Vericity is a US life insurance specialist that provides affordable life insurance protection targeted to the middle American market, primarily through its subsidiary Fidelity Life. The company sells term life, final expense, accidental death, and permanent (whole) life insurance products with a focus on simplified, accelerated underwriting that often does not require a medical exam.
Product overview
Vericity is a US life insurance specialist listed on Nasdaq. The company focuses on niche life insurance products with a conservative underwriting strategy. The company was acquired by iA Financial Group for $170 million in 2024.
Differentiator
Problem solved
Functional benefit
Products and services
- RAPIDecision® Life (Term Life Insurance)
Quantifiable outcome
- Stable premium revenues and modest net income growth in latest quarter
Companies that use Vericity
Customer profileSegments1 record
Ideal customer profiles2 records
Vericity technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Vericity partnerships and signals
Strategic signalScale indicators2 records
Recent moves5 records
Expansion highlights4 records
Vericity competitors and assessment
Company assessmentDirect peers
- Primerica: Primerica is a direct peer serving middle-income households with term life insurance as its flagship product, distributed via a large independent sales force — closely comparable to Vericity's middle-American GTM.
- Fidelity & Guaranty Life (FGL): FGL sells indexed annuities and life insurance with a focus on middle-income consumers, overlapping with Vericity's conservative, niche positioning in the U.S. life market.
- Americo Financial Life and Annuity: Americo is a direct competitor focused on simplified-issue and final expense life insurance for the middle market, with a similar distribution and underwriting profile.
- Kansas City Life Insurance: Kansas City Life is a smaller U.S. life insurance carrier offering individual life and annuity products, comparable in scale and conservative underwriting posture to Vericity.
- Globe Life: Globe Life is a direct competitor in the middle-market life insurance space, offering term, whole life, and supplemental health products to working-class American families through a similar agent-driven model.
- SBLI (Savers Life): SBLI offers affordable term and whole life insurance to individuals and families, often without medical exams — closely mirroring Vericity's simplified-issue, middle-American value proposition.
Broad incumbents
- Corebridge Financial: Corebridge (formerly AIG Life & Retirement) is a broad incumbent offering individual life insurance and annuities with substantial scale advantages over a niche carrier like Vericity.
- Mutual of Omaha: Mutual of Omaha is a broad incumbent carrier offering term, whole, and final expense life insurance alongside Medicare supplements, competing head-to-head with Vericity in the final expense and senior segments.
- Lincoln National Corporation: Lincoln Financial is a broad incumbent life and retirement carrier, with individual life products (term, universal, indexed universal) that overlap with Vericity's middle-market life offerings.
Others
- iA Financial Group (parent): iA Financial Group is Vericity's parent company and a large Canadian insurer with U.S. operations; included as an adjacent/parent relationship rather than a direct competitor.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Vericity social profiles
Digital presenceVericity financial estimates
Financial estimateRevenue estimate
Valuation estimate
Vericity leadership team
Management profileNumber of profiles
Profiles1 record
Vericity funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Vericity M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Vericity
What does Vericity do?
Vericity is a US life insurance specialist that provides affordable life insurance protection targeted to the middle American market, primarily through its subsidiary Fidelity Life. The company sells term life, final expense, accidental death, and permanent (whole) life insurance products with a focus on simplified, accelerated underwriting that often does not require a medical exam.
Is Vericity a public or private company?
Vericity is a public company. It is classified as corporate owned and is currently acquired.
When was Vericity founded?
Vericity was founded in 2013. It employs 101 to 250 people.
Where is Vericity based?
Vericity is headquartered in Chicago, United States, in the North America region.
How does Vericity make money?
One revenue line is on record: life Insurance Premiums.
Who are Vericity's main competitors?
Direct peers on record are Primerica, Fidelity & Guaranty Life (FGL), Americo Financial Life and Annuity, Kansas City Life Insurance, Globe Life and SBLI (Savers Life). Broad incumbents are Corebridge Financial, Mutual of Omaha and Lincoln National Corporation. iA Financial Group (parent) is listed as an others.
Does Vericity have an API?
No public API is recorded for Vericity.
What industry is Vericity in?
Vericity's product category is Life Insurance. Its primary akta.pro industry code is FSAIABAA, Whole Life Insurance, with a secondary code of FSAIAAAB, Decreasing Term Life Insurance (Mortgage/Loan Protection). Its NAICS code is 524113 and its SIC code is 6311.