Preferred insurance classes
Foresters term life insurance offers preferred insurance classes for coverage of $500,001 or more. This means that if you are in good health and live a healthy lifestyle, you may be eligible to pay lower premiums. We consider a number of factors to determine your premiums including health, lifestyle, tobacco usage and family history.
Joint term coverage
With joint term coverage, both you and your partner can be covered under one policy, which might be less expensive than two individual policies. Under a joint-first-to-die policy, the death benefit is payable on the first death. The survivor may exercise a conversion privilege within 60 days of that death to convert to a new policy without evidence of insurability.
Our term insurance policies may be converted without evidence of insurability to any permanent insurance plan offered by Foresters for conversion at that time. The privilege is available at any time prior to the policy anniversary nearest the insured person’s 71st birthday. A joint first-to-die policy may be converted prior to the policy anniversary nearest the oldest insured person’s 71st birthday.
This privilege allows the policy owner to exchange a term insurance policy for another term insurance policy with a longer term if offered by Foresters at the time of exchange. This exchange privilege is available on or after the second policy anniversary, without evidence of insurability.
Charity Benefit provision
In addition to the death benefit, when a claim is paid to the beneficiaries, Foresters will donate 1% (up to a maximum of $100,000) to the eligible designated charitable organization you choose.2
Beneficiaries may be reimbursed up to $1,000 for counseling services to help them deal with their loss.