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What is ISP CHOICE Variable Life Insurance?

ISP CHOICE is a Variable Life Insurance policy that offers a choice of premium-paying periods and permits you to design a life insurance policy that works best for you. 
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Why consider ISP CHOICE Variable Life Insurance?

ISP Choice is for those who seek permanent life insurance protection and the opportunity to build cash value or “Accumulation Value” on a tax-deferred basis within a variety of professionally managed investment subaccounts.

 To learn more, read our ISP Choice brochure.

 1 All guarantees are subject to the financial strength and claims-paying ability of Foresters Life Insurance and Annuity Company which makes no guarantees with respect to the investment return or principal value of the underlying subaccounts. 

Insurability depends on answers to questions in the application and on the outcome of the underwriting review based on our underwriting requirements and guidelines.  

All insurance policies, including ISP Choice, contain certain exclusions, limitation and other terms for keeping them in force. For complete costs and details, see your Representative. 

For more complete information, including charges and expenses, on any variable life insurance policy offered by Foresters Life Insurance and Annuity Company, please download a free prospectus. You may also obtain a free prospectus by contacting your Representative, calling 800 832 7783, or writing to our administrative office at the following address: Foresters Life Insurance and Annuity Company, Raritan Plaza 1, P.O. Box 7836, Edison, New Jersey 08818. Variable life insurance policies, such as ISP CHOICE, are offered by prospectus only. The prospectus contains important information about the life insurance policy including the features, risks, charges and expenses associated with the policy. In addition, the prospectus has information about the available subaccounts and the investment objectives and risks of the underlying subaccounts. You should read this information carefully before purchasing a policy. The subaccounts' underlying funds are not bank deposits and they are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.  

Consider these risks

Policy Risks. Because of the insurance costs, the Policy is not suitable for you unless you need life insurance. If you have no need for life insurance, you should consider a different type of investment.

The Policy involves a long-term commitment on your part, and you should have the intention and financial ability to make the required premium payments. It is not suitable as a short-term savings vehicle.

The Policy is different from fixed-benefit life insurance because you bear the investment risks. The death benefit and Cash Value will increase or decrease as a result of the investment experience of the Subaccounts you select. However, the guaranteed insurance amount is never reduced based on negative performance of the Subaccounts. We bear the investment risk that the Fixed Account will produce a return equal to at least principal plus the minimum guaranteed rate of return. Because you may allocate no more than 50 per cent of Your premiums to the Fixed Account, investing in the Fixed Account does not eliminate investment risks.

If you take a partial surrender from your Policy, reduce the Face Amount of the Policy, eliminate a rider, or make any other material change to the Policy after it is issued, this may convert the Policy into a modified endowment contract (“MEC”). This can have adverse tax consequences to you.

If you decide to take Policy loans, they may reduce the death benefit and Cash Value of your Policy, whether or not you repay the loans, because loans may undermine the growth potential of your Policy. While the receipt of the principal of a Policy loan is generally not taxable, it may be taxable if the loan is outstanding when the Policy is surrendered, exchanged, lapsed or converted to continued insurance, or the Policy has been converted into a MEC. A Policy loan may also cause a Policy to terminate if the Cash Value of the Policy falls below the total amount borrowed due to fluctuation in the values of the Subaccounts selected or other factors. In such case, the entire amount of the loan is immediately taxable to the extent it exceeds your basis in the Policy.

Your Policy may lapse if you fail to pay your premiums or your loans exceed the Surrender Value. However, if you do not elect one of the insurance Settlement Options, we will automatically purchase continued insurance with the Policy’s Cash Value. This may delay but not avoid the lapse of your Policy.

General Account Risk. The assets of the General Account support our insurance obligations and are subject to general liabilities from our business operations and to claims by our general creditors. Amounts allocated to the Fixed Account, and any guarantees under your Policy that exceed your Accumulation Value (such as those that may be associated with the death benefit), are paid from the General Account. Any such amounts that we are obligated to pay in excess of your Accumulation Value are subject to our financial strength and claims-paying ability.

Risks of the Life Series FundsYou bear the investment risk of the Funds underlying the Subaccounts you select. The investment objectives, principal investment strategies, and principal risks of the Funds are described in the attached Life Series Funds prospectus. There is no guarantee that any of the Funds will achieve its stated investment objective.

Neither Foresters Life Insurance and Annuity Company nor its affiliates provide legal, tax or estate planning services. Should you require such services, you should consult a legal, tax or estate planning professional.  

ISP CHOICE is approved in the states with the form number listed below:  

VL -3 (09-16)(AL), VL -3 (09-16)(AR), VL -3 (09-16)(AZ),VL-3 (09-16)(CA), VL -3 (09-16)(CO), VL -3 (09-16)(CT),VL -3 (05-17)(DC), VL -3 (05-17)(DE), VL -3 (05-17)(FL), VL -3 (09-16)(GA),  VL-3(09-16)(HI), VL -3 (09-16)(ID), VL -3 (09-16)(IA), VL -3 (09-16)(IL), VL -3 (09-16)(IN), VL -3 (09-16)(KS), VL -3 (09-16)(KY), VL -3 (09-16)(LA), VL -3 (09-16)(ME) VL -3 (09-16)(MD), VL -3 (09-16)(MA), VL -3 (09-16)(MI), VL -3 (09-16)(MN) ,VL -3 (09-16)(MS), VL -3 (09-16)(MO), VL -3 (09-16)(NE), VL -3 (09-16)(NV), VL -3 (09-16)(NH) VL -3 (09-16)(NJ),VL -3 (09-16)(NM),VL -3 (09-16)(NY), VL -2 (09-16)(NC) VL -3 (05-17)(ND), VL -3 (09-16)(OH), VL -3 (09-16)(OK), VL -3 (09-16)(OR) VL -3 (09-16)(PA), VL -3 (09-16)(RI), VL -3 (09-16)(SC), VL -3 (09-16)(TN) VL -3 (09-16)(TX), VL -3 (09-16)(UT), VL -3 (09-16)(VA), VL -3 (09-16)(VT), VL -3 (09-16)(WA), VL -3 (09-16)(WV), VL -3 (09-16)(WI), VL -3 (09-16)(WY)


The ISP CHOICE Variable Life Insurance policy is issued by Foresters Life Insurance and Annuity Company,  40 Wall Street, New York, NY 10005, 800 832 7783 and distributed by Foresters Financial Services, Inc., 40 Wall Street, New York, NY, 10005,  800 423 4026.


413312 US (01/18)

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