No other life insurance company displays more compassion and understanding of the needs of those wanting to protect their loved ones, according to the Foresters Final Expense review.
Additionally, Foresters Life Insurance provides protection for real estate planning and mortgage coverage, providing insurance for all of those important areas of life.
The perfect policy with affordable premiums that can fit within any budget and honored payouts is available for those looking for a superb investment on behalf of themselves and their loved ones.
Forester’s Insurance Company
Considered to be a “fraternal benefit society”, this unique company is not a traditional life insurance carrier, in that it offers its members several types of products to manage their financial futures. Furthermore, Foresters Life Insurance Company has been in the life insurance industry for more than 135 years.
Rather than having policyholders, Foresters Life Insurance Company, as a fraternal benefit society, has members that receive the benefits of the policies they purchase from Foresters. The company is therefore considered to be a not-for-profit organization. Also, aside from the insurance benefits, members receive the advantage of attending family-oriented events, receiving financial counseling from Forester professionals, and the ability to apply for college scholarships.
Foresters is a company that offers a host of insurance and investment products and services to the clients in the middle market, and the subsidiaries of Foresters. Foresters is represented in offices across 26 U.S. states with over 550 financial services advisors and has continually ranked in the top 10 for final expense insurance reviews.
Forester’s headquarters are located in Ontario, Canada, however, there are locations in over 26 states, as well as the United Kingdom. Foresters maintain assets of almost $14 billion, a surplus of $2.3 billion, with total funds under management at $34 billion. Considered to display consistent financial strength, Foresters has an A- rating according to A.M. Best.
Foresters Life Insurance Company is a member of Assuris, a non-profit entity providing protection for Canadian policyholders should their life insurer fail financially. This ensures that the policy benefit is paid out at the time of need, regardless of insurer’s financial standing.
Foresters’ Financial Status
A member of the Better Business Bureau (BBB) since 2005, Foresters has an A+ rating on an A to F scale. To date, Foresters Life Insurance Company has minimal complaints on file with the BBB, and all have all been resolved which contributes to the company’s high-ranking for final expense insurance reviews.
Besides providing financial products and support, Foresters Life Insurance Company organizes numerous community events each year for all the communities it serves. Additionally, the company is heavily invested in volunteer activities, such as KaBOOM! and the Ronald McDonald House Charities. In fact, Foresters has invested over $10 million into KaBOOM! since the partnership began in 2006, and by the end of 2017 has built 144 playgrounds enriching the lives of over 5.2 million children and families. Ronald McDonald House Charities® is an international non-profit organization that provides resources to nearly 7 million children and families annually. This offer of stability helps to keep families close and provides them with the support needed to survive. Foresters members have helped to support over 30,500 families through this charitable organization.
Affordable life insurance coverage is necessary to ensure that families will not have to suffer under a mountain of debt, face foreclosure, or worry about the disconnection of the electricity or water should they suffer a loss. Foresters Life Insurance will not allow this to happen and will ensure that their families are protected, all while offering coverage that keeps families afloat.
Foresters Final Expense Insurance
The insurer’s most popular life insurance product is its final expense life insurance plan. Referred to as PlanRight Whole Life Insurance, this is a permanent whole life insurance product that has the ability to be chosen as either a fixed, modified or graded payout.
Considered a fixed product, the death benefit with this plan is paid out at 100% from the very beginning, which means that even if the insured passes away soon after the policy is purchased, the beneficiary would still receive 100% of the amount of death benefit stated on the policy.
However, with the graded death benefit option, there is a limit on the amount of death benefit that is paid should the insured die during the first 2 years that the policy is in force. So, what exactly does this mean? The beneficiary would instead receive the greater of either the sum of the total of premium paid, compounded with 4.5% interest, or 30% of the face amount in effect for the first year, or 70% of the face amount in effect on the second year. Basically, with the graded death benefit option, the beneficiary would receive 100% of the death benefit stated on the policy if the insured passes away after 2 years have elapsed.
Finally, the modified death benefits option specifies a limit on the amount of death benefit that is paid out during the first 2 years. The limit is based on the return of premium paid, plus 10 percent. As in the case of the graded death benefits option, the beneficiary would receive 100% of the death benefit amount once 2 years have passed.
What is important to note is that the PlanRight final expense whole life insurance policy will never be canceled by the insurance company provided that the premiums are paid in full. Also with this plan, the premium amount will consistently be level. This means that the premium amount is guaranteed for the length of the policy, truly making it easier to budget for throughout the term of the policy.
Guaranteed Issue and No Exam Coverage
Foresters offer several types of simplified issue life insurance products, like the Guaranteed Issue Policy and the No Exam Policy, which ask uncomplicated health questions in order to determine eligibility. There will be a medical records request from your physician, but no exam, labs, or even height and weight is required. These products definitely fit the description of no exam life insurance.