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Why Foresters Life Insurance?

Foresters is a fraternal benefit society with a global network of over 2 million members. Members enjoy unique member benefits including competitive academic scholarships, financial counseling and discounted legal services as well as opportunities to give back through volunteering opportunities.

Here's a link to the Foresters agent portal.

Foresters Life Insurance Products

Foresters offers the following life insurance types:

  • Term Life
  • Whole Life
  • Universal Life
  • Variable Life

Foresters also offers a Final Expense product that you can check out here.

Foresters Term Life Insurance "Your Term"

  • 10, 15, 20, 25 or 30 year terms
  • Premiums are locked in

The following features, may also be included with your basic coverage at no additional premium (not available in all states):

  • Common Carrier Accidental Death Rider: Designed to provides an additional death benefit if you die of accidental injuries that occur while riding as a fare-paying passenger on a common carrier, such as a plane, bus or train.
  • Family Health Benefit Rider: Can pay a benefit for limited family health expenses that may occur as a result of natural disasters, such as hurricanes, tornadoes and earthquakes.
  • Accelerated Death Benefit Rider: Provides an option to accelerate a portion of the eligible death benefit and receive a payment if the insured is diagnosed with a covered illness, which may include critical, chronic, and terminal illnesses.

Not only does Your Term help you achieve your financial goals, but the inclusion of an innovative Charity Benefit provision can help you make a difference in your community. How it works:

  • When a claim is paid to the beneficiary(ies), Foresters will pay an additional 1% (up to a maximum of $100,000) of the face amount to a registered charitable organization as designated by the owner. The payment is made as a donation in the name of the insured.
  • The Charity Benefit provision is automatically included with your certificate at no additional premium. It does not increase your premiums, nor does it impact the value of the death benefit.

Foresters Advantage Plus Whole Life Insurance

Advantage Plus has lifetime death benefit protection, guaranteed cash value, and guaranteed premiums, with premium payment options of either a 20-pay or pay to age 100.

Because Advantage Plus is participating life insurance, you may also receive dividends1 that can be used to purchase paid-up additions, left on deposit to accumulate with interest, used to reduce premiums or be paid in cash.

You can also borrow against the cash values to help deal with temporary needs or emergencies and repay it later. Any outstanding loans, plus interest, will reduce your death benefit.

  • Death benefit amount, premium amounts, and cash values that are guaranteed for your lifetime.
  • Advantage Plus Whole Life is a participating product, which means it has the potential for dividends. These dividends can purchase additional paid-up insurance and build additional cash value, be left on deposit to accumulate with interest, reduce premiums, or be paid in cash.
  • Provides lifetime life insurance coverage (up to age 121)
  • Guaranteed level premiums payable for either 20 years or to age 100
  • Allows you to borrow and use the insurance as collateral for a loan (this will reduce the death benefit)
  • Generally provides an income tax-free death benefit

Foresters New Charity Benefit provision - when a claim is paid to the beneficiaries, Foresters will pay an additional 1% (up to a maximum of $100,000) of the face amount to a registered charitable organization as designated by the owner.

Interest Sensitive Whole Life Insurance

Foresters Financial Interest Sensitive Whole Life (ISWL) is a permanent whole life insurance policy that provides life insurance coverage along with income tax-deferred accumulation value. It is likely appropriate for individuals who have permanent life insurance needs and prefer the consistency of a fixed premium.

  • Lifetime of protection — ISWL is a permanent life insurance policy. If the premiums are paid on time, coverage will last a lifetime (up to age 121). Your death benefit will never decrease as long as there are no outstanding loans.  
  • Fixed premium — Your premiums will stay at the same level as long as the policy is in force, regardless of economic conditions or the state of your health. Premium payments stop at age 100.
  • Accumulation Value — The fund that builds in an ISWL policy is called the "Accumulation Value." The Accumulation Value grows at a guaranteed minimum interest rate plus the potential of a company-declared excess interest rate, all income tax deferred. As a permanent life insurance policy, ISWL builds Accumulation Value on an income tax-deferred basis. Over many years, your Accumulation Value may be a significant amount of money you can use to: help pay for a child's education, help when buying a new home, or to provide additional funds at retirement
  • Access to your Accumulation Value — Subject to policy provisions, policy loans provide access to your Accumulation Value for any reason at any time.  
  • Interest Rate Crediting — An ISWL policy provides two ways for the Accumulation Value to grow: 1) the security of a guaranteed minimum interest rate. A guaranteed annual interest rate is credited to the Accumulation Value of your ISWL policy. and 2) The potential for additional Accumulation Value growth from declared excess interest rates.  Foresters Life Insurance and Annuity Company may from time to time declare an excess interest rate that will automatically be included in the calculation of the Accumulation Value.  
  • Faster growing Accumulation Value — The deduction of current cost of insurance charges, which are generally lower than the guaranteed maximum rates, allows for faster and higher Accumulation Value growth.  
  • Option to suspend premiums — There may come a time when it may be convenient for you to not have to pay your ISWL premium. If that circumstance occurs and your Accumulation Value meets the policy's requirements, you may elect to suspend premium payments for as long as your policy remains qualified. Choosing whether or not to suspend is an important decision because suspension of premium payments will slow the growth of your Accumulation Value.  
  • Income Tax-Free Death Benefit — With ISWL, death benefits paid to beneficiaries are not subject to federal income tax. In addition, the death benefit is generally not subject to the costs and delays of probate if paid to a named beneficiary or beneficiaries.  
  • Income Tax-Deferred Growth — With ISWL, the Accumulation Value accumulates on a tax-deferred basis inside the policy. Tax deferral allows the Accumulation Value to grow more quickly and to higher levels than if they were currently taxed.  

SMART Universal Life Insurance

SMART Universal Life offers you considerable flexibility to adjust coverage as your needs change. It also provides the security of guaranteed coverage for the first 10 years (called a No Lapse Guarantee), as long as you pay sufficient premiums.

Because SMART is a universal life insurance product, it has the potential to build value beyond the death benefit. This “cash accumulation” portion of SMART Universal Life grows at a guaranteed minimum interest rate of 2% each year. You can even access the cash accumulated for special needs, such as buying a house, paying down a mortgage or getting married.

There are four features of SMART Universal Life that may be automatically included with your basic coverage with no additional premium that can help you, your family and your favorite charity in times of need:

  • Charity Benefit provision: When a claim is paid to the beneficiaries, Foresters will donate (up to $100,000) an additional 1% of the face amount to a designated registered charitable organization, so clients can support their favorite cause. Automatically included in the contract with no additional monthly deductions.
  • Family Health Benefit Rider: Pays a benefit you can use to help pay certain family health expenses that may occur as a result of some natural disasters such as hurricanes, tornadoes and earthquakes.
  • Common Carrier Accidental Death Rider: Provides an additional death benefit if you die of accidental injuries that occur while riding as a fare-paying passenger on a common carrier, such as a bus or a train.
  • Accelerated Death Benefit Rider: Provides an option to accelerate a portion of the eligible death benefit and receive a payment. Subject to eligibility criteria and state variations, this rider can be issued with one or more of the eligible illnesses - Critical Illness, Chronic Illness or Terminal Illness.

ISP CHOICE Variable Life Insurance

ISP Choice is for those who seek permanent life insurance protection and the opportunity to build cash value or “Accumulation Value” on a tax-deferred basis within a variety of professionally managed investment subaccounts.

  • Fixed premium
  • Fixed premium payment period
  • Guaranteed insurance amount. This assures you that as long as the policy is in force when the insured dies, your beneficiary(ies) will receive the full benefit purchased (subject to any outstanding policy loans).
  • Variable insurance amount. This gives you the opportunity to increase the death benefit for your beneficiary(ies), based on the performance of the selected investment subaccounts and the fixed account's interest rate. The variable death benefit may increase or decrease and you bear the investment risk.
  • Cash value. You will have the opportunity to accumulate cash value and direct the allocation and investment of your premiums in a selection of diversified subaccounts and/or the fixed account.

ISP CHOICE provides you with important tax advantages afforded all variable life insurance policies, such as:

  • Income tax-free death benefits to your beneficiary(ies);
  • Tax-deferred cash value growth within the investment subaccounts and/or the Fixed Account;
  • Tax-free transfers between investment subaccounts and/or fixed account through Transfers of Cash Value, the Automated Subaccount Reallocation Option, or the Systematic Transfers Option.

ISP CHOICE has two Variable Life Premium Payment periods:

  • ISP Choice 15

This policy gives you all the benefits of a permanent life insurance policy and is designed to be paid up after 15 years. If you need life insurance coverage but want to keep your insurance premiums affordable, take a look at ISP CHOICE-15. After 15 years of scheduled premium payments, your policy will be "paid up." That means your life insurance coverage remains in effect with no further premiums due. However, your cash value may continue to grow for as long as you keep the policy in force.

  • ISP CHOICE-Whole Life (WL)

If you are interested in obtaining the most life insurance coverage possible, or are looking to limit the cost of your coverage, ISP CHOICE-WL may be best for you. ISP CHOICE-WL has all the benefits you would expect from a permanent life insurance policy. This policy also offers express issue, which is an underwriting option available for policies up to $150,000. If you qualify, this means *no medical underwriting and your policy can be issued in a few short days.

Foresters State Availability

Foresters offers life insurance in all states.

New to Senior Market Life Insurance Sales?

Life insurance sales don't have to be overwhelming! In fact, we do everything we can to make it easy here at New Horizons.

Check out the Quick Training Guide available as part of the Life Insurance Marketing Kit:

In addition, a great place to start is our Ultimate Guide to Selling Life Insurance in the Senior Market.