Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jul 19, 2021

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The Truth in a Nutshell

  • Foresters Financial life insurance does business in Canada, the United Kingdom, and the United States
  • Your Foresters Financial life insurance policy can be as low as $7/mo
  • A.M. Best gave Foresters Financial a B+ rating
  • Foresters Financial has over $14 billion in total assets

Are you interested in buying an insurance policy from Foresters Financial life insurance? A lot of factors go into whether affordable Foresters Financial life insurance is available to you.

But how does life insurance work at Foresters Financial Life Insurance Company? Don’t worry — we’re here to help.

Continue reading this guide to learn more about Foresters Financial life insurance quotes, insurance products, and third-party ratings.

When you’re done reviewing Foresters Financial life insurance, enter your ZIP code in the free comparison tool above to compare multiple companies near you and secure the best rates.

Foresters Financial Life Insurance Products

Before you buy Foresters Financial life insurance, you should find out which life insurance policy works best for you. For example, term life insurance may be cheaper, but it doesn’t have lifelong benefits like permanent life insurance.

Does Foresters Financial have a flexible life insurance lineup? Read the list below to see what you can get from Foresters Financial.

  • Term life insurance (10-, 15-, 20-, 25-, and 30-year terms available)
  • PlanRight Whole Life Insurance
  • Advantage Plus II Participating Whole Life Insurance
  • BrightFuture Children’s Whole Life
  • SMART Universal Life Insurance

Foresters Financial has four permanent life insurance policies. Three of them are whole life insurance products, and the fourth is a universal life insurance product. Its cheapest life insurance product is term life insurance.

There may be certain situations that the life insurance policy you choose doesn’t cover, and that’s where riders come into play. Read on to learn more.

Foresters Financial Life Insurance Riders

Did you know you can customize your life insurance policy? Life insurance riders can fill in the gaps for situations standard life insurance won’t cover.

Foresters Financial has a few riders you can choose from, including:

  • Accelerated Death Benefit
  • Accidental Death
  • Child’s Term
  • Common Carrier Accidental Death
  • Disability Income
  • Family Health Benefit
  • Guaranteed Purchase Option
  • Paid-Up Additions
  • Return of Premium
  • Term
  • Waiver of Monthly Deductions
  • Waiver of Premium

Adding riders to your Foresters Financial life insurance policy will increase your monthly payments. Ask yourself if the rider is worth it. Sometimes, it’s more cost-efficient in the long term to invest in a rider.

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Does Foresters Financial have other services?

Although Foresters isn’t as big as John Hancock and New York Life, it has a few unique services. Let’s look at a list of those available services.

  • Foresters Financial Child Trust Fund
  • MemberDeals
  • Diabetes Member Benefit
  • Lifelong Learning
  • LawAssure
  • Everyday Money
  • Orphan Scholarships
  • Orphan Benefit
  • Terminal Illness Loan

The Foresters Financial child trust fund is different from the child life insurance product.

It’s another service that builds wealth for your children. Even orphan children can receive benefits through Foresters Financial.

You can create a Foresters Financial login to manage your life insurance policy and other services online.

How much are Foresters Financial life insurance rates?

Now that you know more about Foresters Financial life insurance products and services, it’s time to look at how much it costs.

We couldn’t find any public whole life insurance quotes, but we located term life insurance rates. Let’s compare various terms and death benefits (coverage limits).

Monthly Foresters Financial Term Life Insurance Rates by Age, Gender, Term, and Death Benefits
Age and Gender of Non-Smokers$100,000/10-Year Term Average Monthly Rates$100,000/20-Year Term Average Monthly Rates$250,000/10-Year Term Average Monthly Rates$250,000/20-Year Term Average Monthly Rates
25-Year-Old Female$7.79$8.31$10.28$11.59
25-Year-Old Male$8.23$9.19$11.59$13.78
35-Year-Old Female$7.88$9.28$10.50$14.00
35-Year-Old Male$8.31$9.89$11.59$15.53
45-Year-Old Female$10.33$14.00$16.63$25.81
45-Year-Old Male$11.46$16.45$19.47$31.94
55-Year-Old Female$17.41$25.55$34.34$54.69
55-Year-Old Male$20.83$32.64$42.88$72.41
65-Year-Old Female$34.39$63.70$76.78$150.06
65-Year-Old Male$43.66$91.53$99.97$219.63
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The most affordable rates at Foresters Financial go to young, female policyholders. This is because males have shorter life expectancies.

And life insurance becomes more expensive as you get older. Take advantage of Foresters Financial life insurance while it’s still more affordable if you hope to build any equity in the next 10 years.

Does Foresters Financial have good financial strength and customer review ratings?

The short answer is yes. According to A.M. Best, Foresters Financial’s A.M. Best rating went from “A-” to “B+” after Foresters merged with Nassau Financial Group, L.P.

Foresters Financial had 23 complaints on the Better Business Bureau (BBB) website in the past three years. As a result, Foresters Financial reviews went from “A+” to “A-” in 2021.

The National Association of Insurance Commissioners (NAIC) gave Foresters Financial a complaint index score of 1.45 in 2020, which means it has a higher volume of complaints than the average company of its size.

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How do you file a claim at Foresters Financial?

If you need to make a Foresters Financial claim, call the Foresters Financial customer service phone number at (800) 828-1540. A Foresters representative will explain what you’ll need to do next.

You can find Foresters Financial’s claim forms on its website. Go to the website, hold your mouse over “Customer Care,” and click “Make a Claim.”

Follow the instructions and be ready to download the forms needed to file your claim.

How do I cancel a Foresters Financial life insurance policy?

You can’t cancel your policy online, but you can cancel by calling your agent or a Foresters Financial representative.

It’s best to pick a date to cancel. This will give you time to find a policy at another company, and a little leeway in case you happen to change your mind.

Foresters Financial Company Overview

Foresters Financial provides life insurance coverage in Canada, the United Kingdom, and the United States. The company began doing business in 1874 and has survived for 150 years.

Today, Foresters Financial has over $14 billion in total assets, and it has built a foundation on philanthropy and reliable life insurance coverage.

It’s uncertain where the company will go from here since its merger with Nassau Financial Group, L.P.

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Foresters Financial Life Insurance: What’s the bottom line?

Foresters Financial life insurance has more pros than cons. Foresters Financial provides reasonable term life insurance rates with several options to add riders and other helpful services.

If your life insurance budget is bigger than average, take advantage of the whole life insurance options to build wealth over time.

Hopefully, we’ve helped you decide whether to buy Foresters Financial life insurance. If you want to compare other companies in your area, use our free online quote tool below to find the best rates.