(Toronto, ON, July 15, 2019) – In an environment of continued low interest rates, Foresters Financial™ (“Foresters”) today announced that the non-guaranteed crediting rate on its SMART Universal Life Insurance (“SMART UL”) will increase from 4.1 percent to 4.3 percent across new and in-force certficates1. This increase places SMART UL 50 basis points higher than the industry average2 equivalent payout of 3.8 percent, based on industry information compiled by Foresters.
SMART UL combines cost-effective permanent protection with the potential for tax-deferred3 cash value accumulation. At 4.3 percent, SMART UL offers stronger cash accumulation potential for savings or retirement planning needs.
Foresters Financial Vice President, Product & Pricing Jeremy W. Ragsdale said, “As a fraternal benefit society, Foresters focuses on its certificate-holders and members and invests back into them, rather than into shareholders. This is one example of our returning equity to those we serve.
“For nearly 150 years, Foresters has been giving back both through financial benefits, and by offering the opportunity for certificate-holders to engage in their community through charitable giving and volunteering. They are each core to our values.”
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 18 straight years, The Independent Order of Foresters has received an “A” (Excellent) rating from A.M. Best.1 For more information please visit foresters.com
For more information:
416-429-3000 Ext: 4044