Foresters Financial is launching Advantage Plus II Participating Whole Life (“Advantage Plus II”), replacing its flagship Advantage Plus Whole Life product, with lower premiums.
Anyone who is insured under a life insurance certificate from Foresters is a member and can receive exclusive complimentary member benefits1.
As a fraternal insurer, Foresters is unique in the industry in that its certificates provide benefits to the insured the day it is received. These include competitive academic scholarships, Family Fun events, discounted legal services, financial counselling, emergency and disaster relief, grants to support local volunteer opportunities, and Orphan Scholarships and Orphan Benefits.
While most life insurance policies are low involvement – the policyholder puts it in a drawer for a future event – Foresters life insurance certificates provide hard working families with the opportunity to spend more time together, as well as give back to their local communities.
Foresters Financial Vice President, Product & Pricing Jeremy W. Ragsdale said, “We’re excited to offer a whole life product that can be tailored to meet individual needs, goals and values, at a more attractive cost. The rollout of Advantage Plus II and its features further supports our commitment to improving the well-being of our members, their families and their communities.”
Advantage Plus II has several popular product features to help the advisor meet their client’s needs, including the option of a paid-up insurance rider to help build additional cash value, and a variety of other riders to customize coverage, including ten- and twenty-year Term Riders, Accidental Death, Guaranteed Insurability, Waiver of Premium, Single and Flexible Payment Paid-up Additions, and a Children’s Term rider.
Importantly, as a purpose-driven company, Foresters Advantage Plus II also offers the Charitable Benefit provision2 – with Foresters Charity Benefit provision, when a claim is paid to beneficiaries, Foresters will donate an additional 1% (up to a maximum of $100,000) of the face value of the certificate to an eligible charity designated.
About Foresters Financial
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters is a purpose-driven organization that exists to enrich family and community well-being and offers insurance products to over three million members and clients in Canada, the US and the U.K. For 19 straight years, The Independent Order of Foresters has received an “A” (Excellent) rating from A.M. Best.3 For more information please visit foresters.com
™Foresters Financial, Foresters, and Helping Is Who We Are are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries.
For information purposes only; not intended to form part of the Foresters Advantage Plus II Whole Life Insurance contract and is not intended to amend, alter or change any of the terms and conditions of the contract. Life insurance contracts are underwritten and issued by The Independent Order of Foresters, a fraternal benefit society. Foresters Advantage Plus II and its riders may not be available or approved in all states and are subject to underwriting approval, limitations, contract terms and conditions, and state variations. Refer to the Foresters Advantage Plus II Whole Life Insurance contract for state specific terms and conditions. Foresters Advantage Plus II and its riders are filed under the form numbers listed below, where “XX” represents either “US” or a state’s postal abbreviation, as applicable. Foresters Advantage Plus II: ICC19-WL-US01 or WL-XX01-2019 or in NY, Whole Life: WL-NY01-2019; Accelerated Death Benefit Rider (for Chronic, Critical and Terminal Illness): ICC14-TRAD-ABRCHCRTI-US01 or TRAD-ABRCHCRTI-XX01-2014; Accelerated Death Benefit Rider (for Critical and Terminal Illness): ICC14-TRAD-ABRCRTI-US01 or TRAD-ABRCRTIXX01-2014; Accelerated Death Benefit Rider (for Terminal Illness): ICC14-TRAD-ABRTI-US01 or TRAD-ABRTI-XX01-2014; Accidental Death Rider: ICC19-WL-ADR-US01 or WL-ADRXX01-2011; Children’s Term Rider: ICC19-WL-CTR-US01 or WL-CTR-XX01-2019; Common Carrier Accidental Death Rider: ICC19-WL-CCADR-US01 or WL-CCADR-XX01-2019; Family Health Benefit Rider: WL-FHB-XX01-2011; Flexible Payment Paid-up Additions Rider: ICC19-WL-FPUAR-US01 or WL-FPUAR-XX01-2019; Guaranteed Insurability Rider: ICC19-WL-GIRUS01 or WL-GIR-XX01-2019; Single Payment Paid-up Additions Rider: ICC19-WL-SPUAR-US01 or WL-SPUAR-XX01-2019; Term Rider: ICC19-WL-TR-US01 or WL-TR-XX01-2019; Waiver of Premium Rider: ICC19-WL-WPR-US01 or WL-WPR-XX01-2019 or in NY, Total Disability Waiver of Premium Rider: WPR-NY01-2019
1 Foresters members are insureds under a life or health insurance certificate, or annuitants under an annuity certificate, issued by The Independent Order of Foresters, or social fraternal members. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice.
2 When a claim is paid to the beneficiaries, Foresters will pay the eligible designated charitable organization in the name of the insured. The maximum payment under this provision is $100,000. The designated charitable organization must be an accredited 501(c)(3) organization under the Internal Revenue Code and eligible to receive charitable contributions as defined in section 170(c) of that code.
3 The A.M. Best rating assigned on August 14, 2019 reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. An “A” (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.