(October 7, 2019) – Foresters Financial™ (“Foresters”) today announces the launch of Advantage Plus II Participating Whole Life (“Advantage Plus II”), replacing its flagship Advantage Plus Whole Life product, with lower premiums.
Complimentary benefits and a shared purpose
Anyone who is insured under a life insurance certificate from Foresters is a member and can receive exclusive complimentary member benefits.
As a fraternal insurer, Foresters is unique in the industry in that its certificates provide benefits to the insured the day it is received. These include competitive academic scholarships, Family Fun events, discounted legal services, financial counselling, emergency and disaster relief, grants to support local volunteer opportunities, and Orphan Scholarships and Orphan Benefits. While most life insurance policies are low involvement - the policyholder puts it in a drawer for a future event - Foresters life insurance certificates provide hard working families with the opportunity to spend more time together, as well as give back to their local communities.
Foresters Financial Vice President, Product & Pricing Jeremy W. Ragsdale said, “We’re excited to offer a whole life product that can be tailored to meet individual needs, goals and values, at a more attractive cost. The rollout of Advantage Plus II and its features further supports our commitment to improving the well-being of our members, their families and their communities.”
Advantage Plus II has several popular product features to help the advisor meet their client’s needs, including the option of a paid-up insurance rider to help build additional cash value, and a variety of other riders to customize coverage, including ten- and twenty-year Term Riders, Accidental Death, Guaranteed Insurability, Waiver of Premium, Single and Flexible Payment Paid-up Additions, and a Children’s Term rider.
Importantly, as a purpose-driven company, Foresters Advantage Plus II also offers the Charitable Benefit provision - with Foresters Charity Benefit provision, when a claim is paid to beneficiaries, Foresters will donate an additional 1% (up to a maximum of $100,000) of the face value of the certificate to an eligible charity designated.
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. Best. For more information please visit foresters.com