Foresters Life Insurance Review – Fraternal Values, Flexible Coverage

Looking for life insurance that goes beyond a policy? With its unique fraternal benefit society model, Foresters offers more than just coverage

In this guide, we cover Forester’s life insurance products and underwriting to help you make your best decision.

Founded in 1874, the Independent Order of Foresters is a member-owned life insurance company. That means no shareholders, just policyholders who get real member benefits, from scholarships to community grants.

When you purchase a policy with Foresters, you gain access to unique extras like legal assistance, family events, and volunteer project funding.

It’s one of the few life insurance providers still operating as a fraternal benefit society, which prioritizes its members.

Foresters holds solid financial ratings, including:

• AM Best: A

They maintain a conservative risk profile with a substantial surplus (over $2 billion). While smaller than many publicly traded competitors, Foresters’ capital reserves and member focus help ensure long-term financial stability.

Foresters Term Life Insurance

The Strong Foundation and Your Term are the term life insurance policies available with Forester.

• Strong Foundation Term Life Insurance
  • Face Amounts: $50,000 – $500,000 ($300,000 if substandard)
  • Term Lengths: 10, 15, 20, 25, or 30 years.
  • Issue Ages: Up to age 80, depending on term and rate class
  • Underwriting: No exam, no fluids, no health interview
  • Riders Available:
    • Chronic, Critical, and Terminal Illness
    • Common Carrier Accidental Death
    • Family Health Benefit
    • Waiver of Premium
    • Children’s Term
• Your Term Life Insurance
  • Face Amounts:
    • Non-Med: $50,000 to $400,000
    • Medical: $100,000 to $10 Million
  • Term Lengths: 10, 15, 20, 25, and 30 years
  • Underwriting Rate Classes
    • Non-med: Tobacco or Non-tobacco
    • Medical: Preferred Plus, Preferred, Standard
  • Riders Available
    • Chronic, Critical, and Terminal Illness
    • Common Carrier Accidental Death
    • Family Health Benefit
    • Waiver of Premium
    • Children’s Term
  • Conversion Available until the earlier of age 65 or 5 years before the level term ends.

Just about every company out there now offers accelerated underwriting, and some, like Banner Life and Symetra, offer instant approvals.

Foresters offers several permanent life insurance products:

• Advantage Plus II Participating Whole Life
  • Face Amounts:
    • Non-med: $25,000 – $400,000
    • Medical: $50,000 – $500,000+
  • Premium Options: 20-Pay or Paid-Up at 100
  • Dividend Options:
    • Paid-up additions
    • Cash
    • Reduced premiums
  • Riders:
    • Accelerated Death Benefit
    • Common Carrier Accidental Death
    • Family Health Benefit
    • Charity Benefit
    • Term Rider
    • Children’s Term
    • Waiver of Premium
    • Accidental Death
• Bright Future Children’s Whole Life
  • Issue Ages: 0-17
  • Face Amounts: $5,000 – $75,000
  • Premium Options: 10-Pay or Paid-up at 100
  • Riders:
    • Terminal Illness
    • Common Carrier Accidental Death
    • Family Health Benefit
    • Charity Benefit
    • Guaranteed Insurability
  • One application covers up to 6 children

If you want to buy whole life insurance, we always recommend that you consider one of these companies instead:

• Mass Mutual
• New York Life (but not AARP)
• Penn Mutual
• Guardian
• Northwestern Mutual

Foresters offers the PlanRight final expense insurance policy.

• Issue Ages: 50 – 85
• Face Amounts:
  • Preferred: $5,000 – $35,000 (limited to $15,000 for ages 81+)
  • Standard: $5,000 – $20,000 (limited to $10,000 for ages 81+)
  • Basic (Graded): $5,000 – $15,000 (up to age 80 only)
• Underwriting: No medical exam, application-based.
• Riders:
  • Accelerated Death Benefit (preferred or standard rates only)
  • Common Carrier Accidental Death
  • Family Health Benefit
  • Optional Accidental Death (preferred rate only)

PlanRight offers more competitive benefits and pricing compared to some of its competitors. Compared to Colonial Penn, Trustage, and Mutual of Omaha.

Foresters offers the SMART UL policy, which provides lifetime protection and the potential for cash value growth.

• Face Amounts:
  • Non-med: Up to $500,000 (ages 16-55)
  • Medical: $100,000 – $499,999 (ages 16-70)
• Riders:
  • Accelerated Death Benefit
  • Common Carrier Accidental Death
  • Family Health Benefit
  • Waiver of Monthly Deductions
  • Guaranteed Purchase Option
  • Children’s Term

Many companies offer competitive universal life insurance policies, including Pacific Life, Prudential, and Corebridge Financial, among others.

Foresters is one of the best life insurers for small face whole life policies. We typically compare them to whole-life policies offered by American General, Assurity, and Great Western.

Foresters makes it easy to get covered, especially if you’re in good health. Here’s how their underwriting breaks down:

• Non-Medical (Strong Foundation, Advantage Plus, SMART UL):
  • No exams, labs, or PHIs
  • Uses prescription checks, MIB, and TrueRisk analytics
  • Decisions are often made in under 10 minutes via e-App
• Accelerated Underwriting (Your Term):
  • Available up to age 55 and $1M
  • No labs if eligible, though health history must align
• Medical Underwriting:
  • Traditional exams and labs apply to high face amounts or complex risks.
  • Preferred Plus available

Foresters also stands out for covering applicants with conditions like diabetes on a substandard basis (non-med up to Table 12). Medical Underwriting

• Phone: 800-828-1540
• Website: here
• Mail: 789 Don Mills Road – Toronto, Canada M3C 1T9

Foresters isn’t just another life insurance company. It blends solid financial strength with fast underwriting, strong non-medical coverage, and valuable member perks.

If you’re looking for affordable life insurance and value member-first service, Foresters deserves a spot on your shortlist.