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What is universal life insurance?

Universal life insurance can provide you with the flexibility to make changes as your life evolves. These products combine lifetime insurance protection with the potential for tax-deferred1 cash value accumulation. You can even access the cash value if you need it.

Universal life has two parts: a life insurance part and a cash accumulation part. The premium you pay is used to cover the monthly costs for the insurance. If the premium paid is higher than the costs for the insurance, the excess is accumulated as cash value and earns monthly interest and grows over time, typically on a tax-deferred basis1, until withdrawn as cash or used to help pay the costs of the insurance.

Foresters Financial and Foresters are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society) and its subsidiaries.

1 Foresters Financial, its employees and life insurance representatives, do not provide, on Foresters behalf, legal, tax or estate advice. The information given here is merely a summary of our understanding of current laws and regulations and is not specific to your situation. Consult a tax or legal advisor regarding estate planning and the taxation of life insurance.

2 Withdrawals and/or loans will reduce the death benefit and cash values and may affect how long the insurance contract is in effect. Surrender charges may apply to withdrawals. Loan interest is charged daily on the loan at 4% annually, 2% after the 7th certificate year. Income and growth on accumulated cash values are generally taxable only upon withdrawal: IRC section 72. Loans may be considered a reportable tax event. Ask your tax advisor for details on your specific situation.

3 Assumes no withdrawals.

4 Foresters will pay the eligible designated charitable organization in the name of the insured. 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.

5 Proceeds from an insurance certificate paid due to the death of the insured are generally excludable from the beneficiaries’ gross income for income tax purposes. Consult your tax advisor on your specific situation

6 Foresters products and their riders may not be available or approved in all states and are subject to eligibility requirements, underwriting approval, limitations and state variations. If you have questions regarding Foresters products and their riders, please contact your insurance agent or contact Foresters Financial to be connected with an agent in your area. Foresters SMART Universal Life is issued by The Independent Order of Foresters. Foresters SMART Universal Life and its riders are filed under the following form numbers listed below, where “XX” represents either “US” or your state’s postal abbreviation, as applicable.

Foresters SMART Universal Life: ICC18-UL-SMART-US01 or UL-SMART-XX01-2018 or UL-SMART-FL02-2018; Waiver of Monthly Deductions Rider: ICC18-UL-WMDUS01 or UL-WMD-XX01-2018; Accidental Death Rider: ICC18-UL-ADR-US01 or UL-ADR-XX01-2018; Children’s Term Rider: ICC18-UL-CTR-US01 or UL-CTRXX01-2018; Family Health Benefit Rider: UL-FHB-XX01-2008; Common Carrier Accidental Death Rider: ICC18-UL CCADR-US01 or UL-CCADR-XX01-2018; Guaranteed Purchase Option Rider: ICC18-UL-GPO-US01 or UL-GPO-XX01-2018; Accelerated Death Benefit Rider (for Chronic, Critical and Terminal Illness): ICC14- UL-ABRCHCRTI-US01 or UL-ABRCHCRTI-XX01-2014; Accelerated Death Benefit Rider (for Critical and Terminal Illness): ICC14-UL-ABRCRTI-US01 or UL-ABRCRTIXX01-2014; Accelerated Death Benefit Rider (for Terminal Illness): ICC14-UL-ABRTIUS01 or UL-ABRTI-XX01-2014

7 ABR is not available in CA.

(If applicable) This product is a life insurance certificate that accelerates the death benefit on account of chronic illness and is not a health insurance certificate providing long term care insurance subject to the minimum requirements of New York Law, does not qualify for the New York State Long Term Care Partnership Program and is not a Medicare supplement certificate.

412735 US 09/18

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