Foresters introduces Easylife and a simplified approach to whole life
(Toronto, ON, June 18, 2012) – Foresters™, an international life insurance provider committed to family well-being, has simplified access to permanent protection with Easylife, an affordable new participating whole life product with up to $100,000 coverage.
There are no medicals required; no pages of questions to fill out. Clients aged 20 to 60 can be insured virtually instantly with just one easy interview and a signed declaration. Easylife offers a low-cost base of permanent protection without having to go through normal lengthy underwriting process. It’s coverage that’s easy for advisors to process.
Easylife application information can be submitted instantly using Foresters new mobile application Skylite, making it easier and faster to complete the process.
“Easylife is the result of our determination to simplify and shorten the process around issuing certificates,” says Sharon Giffen, President, Foresters Canada and President and Chief Executive Officer, Foresters Life Insurance Company. “We believe Foresters raised the bar when it comes to whole life product design and delivery.”
Currently, whole life products account for approximately one-third of all life insurance sales in Canada on a premium basis. EasyLife offers level premium lifetime protection, dividends and the opportunity for death proceeds no less than the total face amount regardless of the dividend amounts. Premiums start at $25 a month or $300 annually – a small amount for the convenience of virtually instant coverage for those who qualify.
Foresters™ is a life insurance provider with a difference. The fraternal benefit society, founded in 1874, supports family well-being through quality products, unique member benefits and inspiring community activities. Foresters shares its financial strength with almost 950,000 members in Canada, the United States and the United Kingdom. Foresters has assets of over $8.6 billion with liabilities of $7.1 billion resulting in a surplus of $1.4 billion (all figures in Canadian dollars as of December 31, 2011) and maintains an "A" (Excellent) rating by A.M. Best1. For more information visit foresters.com.
ForestersTM the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.
1 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. In assigning Foresters rating on May 26, 2011, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest rating.
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