Foresters Life Insurance Review: Comprehensive Insights for 2025

Foresters Financial has been a cornerstone in the financial services sector for over 150 years, offering a range of life insurance and savings plans. Their offerings include both term and permanent life insurance, with various riders to enhance your coverage. Uniquely, many of their policies do not require a medical exam. If you’re interested in understanding more, this Foresters life insurance review provides detailed insights!

How to Get Foresters Financial Life Insurance

To obtain a life insurance quote from Foresters Financial, simply contact them via their toll-free customer service hotline or through their online contact form to arrange a callback from an independent representative. They will assist you in understanding pricing and determining which life insurance plan suits your needs.

During the setup of your life policy, you’ll typically need to provide details about your occupation, address, and medical history. Although many Foresters Financial policies don’t require a medical exam, some do, which might extend the application process. Once approved, maintain your coverage by paying the premiums as scheduled. Joining Foresters Financial grants you access to discounts, online document preparation, and diabetes management benefits.

Life Insurance Policies from Foresters Financial

Foresters Financial offers term and permanent life insurance options for both Americans and Canadians. Here are the options available in the U.S.:

Term Life Insurance

Foresters provides three types of term life insurance: a two-level term (with fixed premiums) and an accidental death term policy. These policies are designed to expire after a specific period, ranging from 10 to 30 years, in five-year increments, with coverage up to $500,000. Notably, level-term policies can be converted into permanent policies without additional underwriting.

You can choose between medically or non-medically underwritten term policies, which affect your coverage options. The Strong Foundation Term policy doesn’t require a medical exam, whereas the Prepared II Accidental Death Term policy pays out only in the event of accidental death.

For customization, you can add riders to these plans. Some riders may be included in the base price, like the accelerated death benefit for level-term policies, applicable if the insured is diagnosed with a covered condition.

Whole Life Insurance

Foresters Financial provides whole life insurance for general, children’s, and older adults (ages 50-85). This type of life insurance builds a guaranteed cash value that remains accessible even if the insured is in good health.

Policy death benefits vary significantly. For instance, the Bright Future Children’s whole life policy covers up to $75,000, while PlanRight covers $35,000. Advantage Plus II coverage starts at $25,000. None of these whole life policies require a medical exam, but acceptance is based on your responses to a medical questionnaire unless medical underwriting is requested.

Universal Life Insurance

Foresters Financial offers a single universal life policy. This coverage is permanent, provided premiums are maintained, and it can accumulate monetary value, which can be withdrawn or borrowed. Premiums are adjustable within certain limits.

Universal life coverage starts at $25,000, or $10,000 for adolescents, and may not require a medical exam. This policy might include a family health benefit for hurricane and earthquake-related health costs and an accidental death benefit rider.

Cost of Foresters Life Insurance

The cost of a Foresters Financial life policy is influenced by factors such as your health, age, gender, family medical history, policy type, and coverage amount. Typically, term life insurance is less expensive than whole or universal life insurance.

Insurance companies determine rates based on the risk of insuring individuals. If you have a high-risk occupation or partake in risky activities like smoking, your life insurance premiums could be higher. Additional coverage, such as a larger death benefit or optional riders, will also increase costs. To get the best deal, it’s advisable to compare Foresters Financial quotes with other estimates.

Benefits and Drawbacks of Foresters Financial

Foresters Financial has consistently received an “A” (Excellent) rating from A.M. Best Company for the last 24 years, reflecting their strength and ability to pay claims. However, these ratings do not affect the functionality of products not issued by the company.

Benefits

• Reduced Term Premiums: Foresters Life Insurance offers competitively low rates for 10, 20, and 30-year term policies, allowing for significant savings and making comprehensive coverage more accessible.

• Conversion to Whole Life: The option to convert term policies into whole life products is a noteworthy benefit, providing flexibility as policyholders’ needs evolve over time.

Drawbacks

• Limited Term Options: Despite offering multiple coverage terms, Foresters Financial provides only three options, which might not cater to all clients seeking specific durations.

• Lack of Online Policy Details: The absence of online policy management and information can be a disadvantage for those who prefer digital convenience for managing their insurance needs.

Is Foresters Financial Worth It?

Foresters Financial is a popular choice for individuals and families seeking diverse life insurance options. With flexible and affordable plans, including reduced term rates and whole life conversions, they offer appealing benefits. However, the limited term selections and lack of online policy details may not suit everyone.

Foresters Financial is ideal for those looking for straightforward coverage without stringent medical requirements. However, it’s important to compare their policies with others to ensure the best fit for your financial objectives.