(Toronto, ON, November 6, 2019) – Foresters Financial™ today announces the launch of its industry-first, non-medical life insurance product portfolio that includes relaxed underwriting guidelines for Americans living with type 2 diabetes. This means more Americans living with type 2 diabetes, which affects 21 million adults in the US1 , could qualify for coverage – without paying higher premiums.
New guidelines will apply to Foresters US non-medical products (Term Life, Smart Universal Life, Strong Foundation, and Advantage Plus II Whole Life). Applicant insurability depends on answers to medical and other application questions and underwriting searches and review. Coverage is effective November 14, 2019, to align with World Diabetes Day.
“We are delighted to be the first to provide affordable, non-medical life insurance to those effectively managing type 2 diabetes,” said Jeremy Ragsdale, Vice President, Product & Pricing. “Until now, people living with type 2 diabetes were subject to more rigid underwriting guidelines, having to pay higher premiums than the general public. Thanks to ongoing advancements in the treatment and management of this disease, many people living with type 2 diabetes can live longer, healthier lives. We are proud to be a leader in modernizing our products to accommodate this evolution.”
Life insurance with a larger purpose
The launch of this innovation is driven by Foresters history of providing life insurance with a larger purpose.
This includes offering all policyholders (called members) a full suite of unique benefits that furthers Foresters fraternal mission of enriching the well-being of middle-market families and their communities. Member benefits2 include opportunities for scholarships, community building grants, as well as financial counseling and access to complimentary or discounted legal advice.
“Our strategy to provide life insurance with a larger purpose defines our approach to innovation,” Mr. Ragsdale said. “To help our members enjoy a more rewarding life, we take a holistic approach to their well-being. Our goal is to create products, incentives and unique benefits that not only recognize their commitment to health and wellness, but also factor in their volunteerism and community involvement. Helping others is a central pillar of our mission and what connects us to our members. Making it easier and less costly for those living with type 2 diabetes to access a full suite of products is a vivid example of how we are bringing our strategy to life.”
About Foresters Financial
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters is a purpose-driven organization that exists to enrich family and community well-being and offers insurance products to over three million members and clients in Canada, the US and the U.K. For 19 straight years, The Independent Order of Foresters has received an “A” (Excellent) rating from A.M. Best3. For more information please visit foresters.com