Foresters Financial is the leading provider of insurance products and services. The company offers various financial solutions such as retirement plans, life insurance, education funding and others. The company’s services are available to people who live in the USA, Canada and the UK. Foresters Financial has been in business for 140 years. Over the years, the company remains steadfast in its commitment to improving families’ well-being by helping them achieve long-term financial goals. Each year, Forester Financial invests millions of dollars in supporting causes that enrich the lives of communities and families.
Foresters member benefits — what you’ll get
Foresters Financial provides its clients with a wide range of valuable membership benefits to enjoy family time and volunteer efforts that directly benefit local communities. Here is the list of benefits you’ll get once you’re their member:
- Competitive Scholarships
- Emergency Assistance Program
- Foresters Community Grants Program
- Orphan Scholarships
Annually, Foresters Competitive Scholarship Program provides $2,000,000 for tuition scholarships for higher learning in the US and Canada.
The primary goal of this program is to provide short-term financial assistance to people affected by a disaster, large-scale emergency or significant personal hardship.
The following program provides members with financial grants for organizing volunteer and exciting family activities within their communities.
Children of deceased members are provided with a renewable scholarship for higher learning for up to 4 years. This covers both tuition and maintenance. As a rule, scholarship amounts may range from $1,500 per year to $6,000 per year.
Foresters Financial products — choose the one that best fits your needs
Foresters Financial provides its clients with a vast variety of insurance and financial options to meet their needs and budget. Let us discuss the most popular types of insurance solutions they have.
Plan Right Whole life insurance
Plan Right Whole life insurance can help you provide the resources to protect your family and finances in the event of your death. Burial insurance is the best choice for individuals who are looking for lifetime protection. This insurance program includes the following features:
- Provides you with life insurance coverage
- Guarantees level premiums
- Allows you to use the insurance as collateral for a loan
- Provides an income tax-free death benefit
This insurance works best for people between 50 and 85 years old. What makes it so appealing is the fact that you don’t need to take a medical exam in order to get it. Most people can qualify for it, and the only thing they need to do is to answer several questions regarding your health.
It’s worth mentioning that Foresters PlanRight offers three types of coverage:
- PlanRight with a Level Death Benefit
- PlanRight with a Graded Death Benefit
- PlanRight with a Modified Death Benefit
The death benefit is based on 100% of the face amount. The maximum face amount is $35,000, depending on your age at the time of application.
This one is a limited benefit in the first two years. It’s based on 100% of the face amount in year three and later. The maximum face amount is $20,000, depending on your age at the time of application.
The death benefit in the first two years is based on premiums you’ve paid plus 10% annual interest. It’s based on 100% of the face amount beginning in the third year. The maximum face amount is $15,000, depending on your age at the time of application.
If you want to learn more about the whole life insurance, click here.
Smart universal life insurance
SMART universal life insurance is a unique product that has the potential to build value beyond the death benefit. With its help you can adjust coverage as your needs change — it provides the security of guaranteed coverage for the first 10 years, as long as you pay sufficient premiums.
Those individuals who are planning for retirement, saving for children’s education or developing strategies to preserve their estate, can highly benefit from SMART ULI.
The following insurance comes with the following benefits:
- Provides life insurance protection
- Provides an income tax-free death benefit
- Tax-deferred growth on cash value
- Premium flexibility within maximum and minimum limits
- Withdraw funds, or surrender for cash
- Borrow and use the insurance as collateral for a loan
Foresters Financial Universal life insurance (or ULI) consists of two components: life insurance and cash accumulation part. It’s a permanent life insurance plan available without a medical exam. Its amount can be up to $250,000 depending on age and health condition. This insurance cash accumulation sum grows annually at a guaranteed minimum interest rate of 3%. You can access the accumulated cash anytime and use it for your personal needs.
There are up to three features of SMART Universal Life that may be automatically included with your basic coverage with no additional premium. You and your family can benefit from them in times of need. To know more about the features read SMART Universal Life insurance brochure.
Term life insurance
Our life can be full of positive changes and success stories. However, there are times when you have to face unforeseen challenges and cope with them. Foresters term life insurance program is always here to help you prepare for the unexpected.
You can rely on this insurance when:
- Starting life with a new partner
- Caring for your family
- Covering short-term debts
- Covering longer-term debts
Foresters Term life insurance provides coverage for the period of time when you need it most. You can choose terms of 10, 20 or 30 years depending on your current financial obligations and future plans. Additionally, you may choose the “non- medical option” if you do not want to be bothered with a medical exam.
Moreover, this insurance offers several optional riders that allow you to customize your coverage to your personal circumstances and future goals.
Term Riders offer additional layers of protection to cover shorter term risks:
- Child Term Rider
- Accidental Death Benefit Rider
- Disability Waiver of Premium Rider
Provides term life insurance for your children, giving them a head start on their own life insurance plans. They are allowed to convert their coverage to a new Foresters permanent insurance plan without evidence of insurability.
Provides an additional benefit to help your family when they need it most.
Helps maintain your valuable life insurance coverage if you are unable to work or totally disabled.
Foresters term life insurance is renewable, so you can extend the length of your coverage. Moreover, it’s convertible, that means you can switch to Foresters permanent life insurance without supplying evidence of insurability. In addition to flexible product features, insureds will be eligible to enjoy the valuable benefits of Foresters membership.
Another great thing about Foresters Financial is that the company offers preferred insurance classes for coverage of $250,000 or more. It works as follows: if you are in good health and maintain a healthy lifestyle, then there is a high chance that you may be eligible to pay lower premiums.
As you can see, not only does life insurance help cover unexpected final costs but it also provides your family with the financial safety, serving as an inheritance. Read the following brochure to discover other benefits Term life insurance offers.
Foresters Financial — your one and only source of reliable insurance solutions.