(Toronto, ON, January 2, 2018) – Foresters Financial™, an international financial services provider, is pleased to announce the inclusion of an incomparable Charity Benefit provision to the recent enhancement to our Advantage Plus1 participating whole life insurance product in Canada.
The Charity Benefit provision makes it easy for Advantage Plus certificate holders to make a difference. When a claim is paid, Foresters will donate2 an additional 1% of the basic insurance amount to the owner’s designated registered charity so they can support their favourite cause. This provision is automatically included, does not require additional premiums and does not impact the value of the death benefit paid to the beneficiaries. The payment is made as a donation in the name of the insured and will not impact their estate, and may be eligible for a charitable tax deduction from the charity 3.
“This Charity Benefit provision is not only unmatched in the Canadian insurance marketplace, but it integrates the Foresters Purpose of giving back into our product line,” says Rob Baboth, Foresters Financial Vice President of Canadian sales. “Advantage Plus, as our flagship product, also includes many built-in features like our Children’s Insurance Benefit, Quit Smoking Incentive Plan and Advance Medical’s Expert Medical Opinion Program4 at no extra cost.”
The new Advantage Plus includes the optional Additional Purchase Option (APO) rider, which allows certificate holders to purchase paid-up additional insurance (PUAs). These PUAs may be eligible to earn dividends5, which may help raise the cash value. This is ideal for clients looking to maximize tax-favoured growth for retirement planning or transferring an estate.
In addition, insured clients will be Foresters members and have access to Foresters Member Benefits6 for the primary insured and their immediate family members. These benefits, many of which are complimentary, currently include competitive academic scholarships, toll-free financial counseling and discounted legal services as well as opportunities to give back through community volunteering opportunities.
About Foresters Financial
Foresters Financial is an international financial services provider with more than three million clients and members in Canada, the United States and the United Kingdom. We provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals and make a lasting difference in their lives and communities. In Canada, products are offered by The Independent Order of Foresters and its subsidiary Foresters Life Insurance Company. Investment products are offered by Foresters Asset Management Inc.
Foresters Financial has assets of $13.4 billion, total funds under management of almost $44 billion and a surplus of $2.1 billion (all figures in Canadian dollars as of December 31, 2016). For more information, visit foresters.com.
For more information:
416-429-3000 Ext. 4044