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Foresters Financial enhances its Advantage Plus whole life insurance with the inclusion of its unique Charity Benefit provision

  • Sep 26, 2017
(Toronto, ON, September 26, 2017) – Foresters Financial™, an international financial services provider, has enhanced its competitive Advantage Plus whole life insurance product to improve a robust set of features that provide even more of a complete insurance solution for customers.

Advantage Plus is a participating whole life product which offers affordable permanent protection, guaranteed cash value growth, and the potential for dividends1. The enhancement of Advantage Plus is part of an ambitious strategy to significantly refine and grow Foresters product portfolio in the U.S. over the next decade.

The new Charity Benefit provision2 makes it easy for Advantage Plus certificate holders to make a difference. When a claim is paid, Foresters will donate an additional 1% of the face amount to the owner’s designated registered charity so they can support their favorite 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 charity3.

The Paid-up Additions Rider (PUAR) has been enhanced to help clients boost their cash value and death benefit. Maximum underwriting limits for PUAR payments have been doubled to $200,000 annually and $2,000,000 lifetime. The PUAR issue age has also been increased to age 75 to allow older clientele to add this rider.

Advantage Plus has also decreased the minimum premium for juveniles, with monthly premiums now starting at only $17 a month. The minimum face amount for medically underwritten applications has also been reduced from $150,001 to $50,000, making it easier and more affordable to provide coverage on children and grandchildren.

On top of these great enhancements, Advantage Plus continues to automatically include up to three additional riders for no additional premium; the Accelerated Death Benefit Rider (also known as a living benefit), the Family Health Benefit Rider and a Common Carrier Accidental Death Rider. For an additional premium, Advantage Plus also offers a variety of riders to increase death benefit or provide living benefits: 10 and 20-year Term Riders, Guaranteed Insurability Rider, Children’s Term Rider, Accidental Death Rider, Waiver of Premium Rider, and Disability Income Rider (Accident Only).

Designed to appeal to middle market families, Advantage Plus is highly competitive amongst the competition for medically underwritten business, with coverage as low as $100,000 for ages 16-55 and even lower for other age demographics. And unlike other whole life products on the market, Advantage Plus offers non-medical face amounts up to $400,000 with no life-event or mortgage requirements and no saliva collection is required (insurability depends on answers to health and lifestyle questions and an underwriting review).

"We've improved our market leading product to offer more customizable retirement savings and protection strategies for our customers," said Matt Berman, Head of U.S. Distribution for Foresters Financial. "I’m also excited that Advantage Plus now includes our innovative Charitable Benefit provision that allows members to continue their philanthropic efforts at no extra premium."

In addition, insured clients will be Foresters members4 and have access to Foresters Member Benefits 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.

The Advantage Plus enhancements are available as of August 26, 2017.

About Foresters Financial
Foresters Financial™ is an international financial services provider with more than three million clients and members in the United States, Canada and the United Kingdom, and total funds under management of $44 billion5. With a history of more than 140 years, we provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals, protect their families and improve their communities. For more information, visit


For more information:

Greg Hubert
Foresters Financial
416-429-3000 Ext 4044

Foresters Advantage Plus and its riders may not be available or approved in all states and are subject to underwriting approval, limitations, contract terms and conditions, and state variations. Refer to the Foresters Advantage Plus Life Insurance contract for your state for these terms and conditions. Underwritten by The Independent Order of Foresters.

 Foresters Advantage Plus and its riders are filed under the form numbers listed below, where “XX” represents your state’s postal abbreviation, as applicable. Foresters Advantage Plus: WL-XX01-2017 Accidental Death Rider: WL-ADR-XX01-2011 Children’s Term Rider: WL-CTR-XX01-2011 Common Carrier Accidental Death Rider: WL-CCADR-XX01-2011 Family Health Benefit Rider: WL-FHB-XX01-2011 Flexible Paid-Up Additions Rider: WL-FPUAR-XX01-2017 Guaranteed Insurability Rider: WL-GIR-XX01-2011 Single Paid-Up Additions Rider: WL-SPUAR-XX01-2017 Term Rider: WL-TR-XX01-2012 Waiver of Premium Rider: WL-WPR-XX01-2011.

¹ Dividends are not guaranteed. Past dividends are not an indicator of future dividend performance.
² The maximum payment under this provision is $100,000. The designated charitable organization must be an accredited 501(c)(3) organization under the Internal Revenue Code and eligible to receive charitable contributions as defined in section 170(c) of that code.
³ Foresters, its employees and life insurance representatives do not provide, on Foresters behalf, legal, tax, or estate planning advice. The information here reflects our understanding of current laws and regulations. Prospective purchasers should contact their own legal, tax, or estate planning advisors on their specific situations.
4 Description of member benefits that you may receive assumes you are a Foresters member. In the United States members may currently only be anyone insured under a life or health insurance certificate, or an annuitant under an annuity certificate, issued by The Independent Order of Foresters. If you are not an insured under a life or health insurance certificate, or an annuitant under an annuity certificate, issued by The Independent Order of Foresters, or are not a social fraternal member, then you are not a member. Foresters member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice.
5 In Canadian dollars as of December 31, 2016

Foresters Financial and Foresters are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9) and its subsidiaries.

415611 US (09/17)

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