Foresters Financial Review

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About Foresters Insurance

Back in 1874, Foresters began as a benefits company started by a fraternal organization - The Order of Foresters. One of the very first leaders at Foresters Financial was Dr. Oronhyatekha, a Mohawk physician and scholar who was way ahead of his time - fighting for women’s rights, children's rights, and for the rights of minorities. The goal and focus of Foresters remains deeply rooted in the ideology of fraternal organizations and their families; to band together in comradery. Each year Foresters Financial invests millions of dollars into the betterment of communities. 

Today, more than 3 million customers rely on Foresters in Canada, the United States, and the UK. Foresters offers health insurance, critical illness insurance, accident insurance, term life insurance, whole life insurance, universal life insurance, and long-term care insurance.

Foresters Financial Key Information

NAMEDETAILS
Company NameThe Independent Order of Foresters
Head Office Address 789 Don Mills Road, Toronto, ON, Canada, M3C 1T9
Contacts416-429-3000
Fax: 1-877-329-4631
Emailclientservice@foresters.com
Website https://www.foresters.com/en-ca/
In Business Since 1874
A.M. Best Rating A
Financial AssetsC$7.5 Billion
Terms and Conditionshttps://www.foresters.com/en-ca/legal

How Do I Purchase a Plan with Foresters Financial?

Contact Foresters Financial by phone or via their website if you wish to purchase an insurance plan with them. 

How Can I Reach Foresters Financial by Telephone?

To reach Foresters Financial by phone, contact them at 1 800 828 1540. 

H3 - How Do I File a Claim with Foresters Financial?

Visit this page if you wish to file a claim with Foresters Financial online.


Foresters Financial Pros and Cons

As with any product or service, and depending on your individual needs, there’s always advantages and disadvantages. Let’s take a look:

Why Foresters Financial Could Be Right for You:

  • Strong customer service 
  • Wide range of insurance products for you to choose from 
  • Long standing history of service

Why Foresters Financial May Not Be Right for You:

  • Pricey premiums 
  • Complex policies
  • Potential sales pressure

What Does Foresters Financial Cover?

Foresters Financial offers a diverse array of insurance products designed to cater to various financial needs. These offerings encompass life insurance policies, which provide protection and financial support for families and beneficiaries in the event of the policyholder's passing. Additionally, the company provides annuities, creating a reliable stream of income for the future. Moreover, Foresters Financial extends its services to include retirement plans, empowering individuals to plan for a secure financial future. Through these products, Foresters Financial aims to address the multifaceted aspects of financial well-being.

Foresters Financial Life Insurance

Foresters Financial provides a range of life insurance solutions tailored to diverse preferences. Their offerings encompass Term Life Insurance, offering cost-effective coverage for a specified term; Advantage Whole Life Insurance, combining lifelong protection with cash value growth; and Non-Participating Whole Life Insurance, focusing on guaranteed protection and cash value accumulation.

Term Life

Term Life from Foresters Financial is term life insurance that is available to you at 10 years, 20 years, or 30 years. Your premium is guaranteed to remain fixed for the duration of your policy. Should you pass within this time period of holding the policy, a set amount will be paid out to your family. The death benefit is customizable and you’re able to choose which amount your beneficiaries will receive. 

Advantage Whole Life Plus Insurance

With guaranteed premiums, the Advantage Plus Whole Life Plus Insurance from Foresters Financial adapts to your changing needs, and that of your family. It is customizable in such a way as to provide financial security for your loved ones. Advantage Plus Whole Life Plus is a participating life insurance, this means that you can receive dividends, and it has further benefits like lifetime death benefit protection, guaranteed cash value, and so forth.You can choose from either of two premium payment options: 20-pay, or pay to age 100. You can add extra features and benefits such as a family health benefit rider, accidental death benefit rider, and common carrier accidental death rider. You can further extend your protection with the children’s term rider, waiver of premium rider, disability income rider, and accidental death rider. 

Non-Par Whole Life Insurance

Non-Par Whole Life Insurance from Foresters Financial is a whole life insurance product that does not pay you dividends, rather the premiums you pay go towards increasing your cash value over time. As long as your premiums are paid on time, the death benefit is guaranteed for the duration of your policy. Premiums are guaranteed to remain fixed, and you are also able to access a cash value component in which you are able to withdraw, if needed. 

Foresters Financial Critical Illness Insurance 

Foresters Financial extends critical illness coverage through its Live Well" and "Live Well Plus" products. These offerings provide financial support in the face of serious illnesses, helping policyholders alleviate the financial burden that often accompanies such challenges.

Live Well Critical Illness Insurance 

Live Well Critical Illness Insurance covers 4 critical health conditions and provides you with a lump sum benefit coverage up to $100,000. You are able to choose your term here, either 10 years, 20 years, or up until the age of 80. You can also exchange the Live Well 10 or 20 to the Live Well to Age 80. The plan comes equipped with Teladoc Medical Experts so that you may receive medical advice from leading experts in the industry.

Live Well Plus Critical Illness Insurance 

Live Well Plus Critical Illness Insurance covers 25 critical health conditions and provides you with a lump sum benefit coverage up to $2,000,000. You are able to choose your term here, either 10 years, 20 years, or up until the age of 80. You can also exchange the Live Well Plus 10 or 20 to the Live Well Plus to Age 80. The plan comes equipped with Teladoc Medical Experts so that you may receive medical advice from leading experts in the industry.

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