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Foresters Insurance Company ~ What you Need to Know!
Within the past few years, Foresters Life Insurance has proven itself to be one the most reliable and affordable life insurance option. For example, Foresters is one of PinnacleQuote’s go-to carrier. They are in our top ten life insurance companies list for many reasons.
Life insurance is a must for anyone that wants their loved ones to be financially secure when disaster strikes. Many avoid getting life insurance because of the prices, but it is possible to get a cheap life insurance policy. Foresters offer one the best no physical exam life insurance policies with living benefits in the industry.
Before choosing a life insurance company, it’s a good idea to get several quotes from the top insurance companies. For example, Banner Life Insurance, AIG, Protective, for instance, is known for their low rates and reliability.
By letting PinnacleQuote shop around dozens of insurance companies, you’ll be far more likely to get a better and cheaper policy on your life insurance.
A Brief History of Foresters Life Insurance Company
First, they’ve been around for over 144 years. Since 1874 to be exact. They have operations in Canada, The United States, and the United Kingdom. Their headquarters is located in Toronto, Canada. Foresters is a ‘fraternal benefit society’ that provides life insurance for members. First Investors, a popular insurance/investment company, branched off of Foresters.
This company from the start had insurance for hard-working families in mind. Foresters in addition to life insurance, also provide savings, retirement plans, and investment solutions.
This is a company that wants you to achieve your healthy financial lifestyle and your well being!
Due to being a fraternal benefits society, Foresters Life Insurance Company is technically a non-profit. Foresters are based in Ontario, Canada, though they have offices in other locations. In addition to operating as an insurance company, Foresters participates and organizes in communal activities and events. They also are known for investing in several volunteer activities.
Did You Know moment?
Foresters is partnered with The American Red Cross and Ronald McDonald House Charities. In addition, partnered with KaBoom! KaBoom is a national non-profit group committed to giving to all children. Those living in poverty. For over 10 years, Foresters members, partners, and clients donate the time. Creating safe places for children to play. They update and build new play spaces for children. As of this year, they are completing their 15oth playground! This is fantastic! Great Job Foresters!!!
What Kind of Life Insurance Plans does Foresters Life Insurance Company Offer
Affordable life insurance is a lot easier than people may think. Foresters have many plans and options making them a commodity. They have options for both term life and permanent life insurance, as well as annuities, critical illness insurance, accidental death insurance, and final expense insurance.
- Term Life Insurance — The most basic of life insurance plans, but also the most affordable. They only offer death benefit protection — cash value build-up options are not available. Coverage is just for a set amount of years. Foresters have term life insurance options for 10, 20, or 30 years. You can apply for this policy with or without medical underwriting. The advantage of going without medical underwriting is the convenience of knowing if you have severe medical conditions, like diabetes, or if you are looking for insurance over the age of 50. However, non-medical underwriting plans will be significantly more expensive.
- Permanent Life Insurance — Foresters has a variety of permanent life insurance policies to choose. The Foresters Advantage Plus Whole Life insurance policy covers you for your entire life, and the premiums are level and never go up. In fact, this means if your health declines, you won’t have to pay more for premiums. Also, with these plans, you can accumulate cash build up, and you also have the option to withdraw or borrow money tied up in the policy.
Foresters Final Expense Whole Life
- Final Expense Coverage — This is one of the most common insurance sales for Foresters. Their final expense policy is known as the PlanRight Whole Life insurance policy. It covers you for your entire life. You can choose between fixed, graded, or modified death benefits.
- Fixed death benefit — 100% payout immediately after death, regardless of when death occurs
- Graded death benefit — If the policyholder passes away within two years, only a limited payout will be received by beneficiaries. If death occurs after the first two years, there is a 100% payout.
- Modified death benefit — With modified death benefit, the amount paid out for the first two years will be limited, but beneficiaries get all paid premiums plus 10%. If death occurs after the early two years, there is a 100% payout.
What about Guaranteed Issue and No Exam Coverage
Foresters have many kinds of simplified issue life insurance policies. For example, this includes the guaranteed issue policy and the no exam policy. These policies do not require a medical exam which is very appealing to a lot of people.
Above all, especially those with pre-existing conditions that think they will have trouble getting insured. While there is no physical exam, they may request other kinds of information relating to your health. These policies will usually accept you quite quickly.
Further, it’s also a good option for those who want coverage ASAP. However, know that these plans are significantly more expensive.
We consider Foresters one of our go-to carriers, especially for our senior market. Our review of Foresters is A+.
Can I Add Riders to my Policy ~ Customize Your Coverage with Foresters
Yes, as a matter of fact, Foresters includes up to three riders with your base coverage! No additional cost or premium!
- Accelerated Death Benefit Rider ~ you may accelerate a portion of your death benefit if insure is diagnosed with a terminal illness (critical or chronic).
- Common Carrier Accidental Death Benefit Rider ~ will provide an additional benefit due to an accident as a “fare- paying ” passenger such as a plane or bus.
- Family Health Benefit Rider ~ helps cover health expenses including ambulance rides as a result of a natural disaster such as hurricanes or earthquakes.
What if I already have a policy with Foresters, Am I paying too much? ~ Policy Review Time
Life changes over the years. All too often when we put a policy in place. We forget about it. As your family grows or you buy a home, or even your children are older. You may be paying too much for the policy you originally purchased. In fact, you may be overpaying by up to 20%!!! That is a lot of $$$ that belongs back into your pocket. These are some of the reasons you should consider calling Danny Ray, at PinnacleQuote Life Insurance Specialists.
Reasons for policy Reviews:
- New home
- Change in health
- Financial status
- New home
- Married recently or Divorced
- New baby
- Decrease or add the number of your dependents
- Change from term/whole or vise versa
During your policy review, your agent will ask you some questions. Such as:
- Health and lifestyle questions
- Type of policy you currently own
- Amount of coverage on that policy
- Beneficiary information
- Do you have riders
- Medical history
PinnacleQuote’s goal in policy reviews…
Based on the information you offer your agent, he/she will present you with choices. Actually, PinnacleQuote’s goal is to give you the tools and information you need to make the best decision. Furthermore, we walk you through the entire process. Our job is to save you $$$. Not Sell you!
Where can I get the Best Quote for my Life Insurance
Working with PinnacleQuote will save you a lot of time, energy, and money. We guarantee this!
Who is Danny Ray of PinnacleQuote?
My name is Danny, Owner/agent of PinnacleQuote Life Insurance Specialists. My goal is to save you $$$! You work hard for your money. You should never overpay for life insurance. I make sure of that!
With over 25 + years in this industry. And over 20 thousand individual policies written, this is still my passion!
Allow me to show you the level of dedication I have in what I do. I will give you the tools to help you make the best choice for you and your family.
I am available 7 days a week. Monday – Friday 9am-9pm EST. For my West Coast clients, I am available until midnight during the week! That is right, midnight!!! Saturday and Sunday’s by appointments.
In fact, I will work around your schedule. You can set up a phone appointment with my assistant, Lisamarie for the best time and day convenient for you. I will make it happen!
Lisamarie’s email is: Lisamarie@pinnaclequote.com. The phone number is (855) 380-3300. She is fantastic. She will take very good care of you! Give her a call today.
Life Insurance ~ The last way to say “I Love You” to your family.