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Term Life Insurance

Affordable protection when it matters most.

Term life insurance

What is term life insurance?

Term life insurance can be an affordable solution to help protect what matters most and reduce your financial stress. With a fixed premium and a set amount of coverage, term life insurance is useful if you only need coverage for a specific time period and the benefit is payable if the insured dies within the designated term.

Term insurance1 is initially less expensive than permanent insurance and offers an affordable option to cover short-term obligations.

Term life insurance with Foresters FinancialTM

Why choose term life insurance?

Term life insurance is considered the most affordable life insurance option. It provides a fixed death benefit amount for a fixed premium payment, over a fixed period of time. Your premium payments are guaranteed and will remain level for the term you select. Your loved ones can use the death benefit to help, among other things:

  • Pay off a mortgage
  • Provide for your children's education
  • Protect your family's business interests
  • Provide cash for future investments

Product overview

Foresters offers term life insurance1 for terms of 10, 20 and 30 years. You choose the coverage option that best suits your budget.

Premiums are guaranteed and will only increase if the policy is renewed for another term.

Options for the long term

If your needs ever change and you want lifetime protection, Foresters term life insurance gives you the option to convert to permanent whole life coverage, without the stress of having to provide additional evidence of insurability.

Features and benefits

Preferred insurance classes

Foresters term life insurance offers preferred insurance classes for coverage of $1,000,001 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.

Conversion privilege

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.

Exchange privilege

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

Bereavement Assistance

Beneficiaries may be reimbursed up to $1,000 for counseling services to help them deal with their loss.



Riders allow you to customize your coverage to your personal circumstances and future goals. Foresters term life insurance offers a number of optional riders including:


412599 CAN (01/24)
1. Underwritten by The Independent Order of Foresters.

2. Foresters will pay the eligible designated charitable organization in the name of the insured. The designated charitable organization must be registered as a charity with the Canada Revenue Agency. The Charity Benefit will only be paid if an eligible beneficiary for the benefit has been designated, prior to, and is in effect on, the date of the death of the insured.