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What is whole life insurance?

If you’re looking for a lifetime of protection, whole life insurance may be the ideal choice for you. As the name suggests, it is insurance designed for your whole life. For most whole life products, as long as the premiums are paid on time, you are insured for your lifetime, your coverage cannot be canceled and the premium remains fixed for the life of the policy. In addition, some whole life products build cash value on an income tax-deferred basis, which can be used to help fund expenses during your lifetime. 
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Why choose interest-sensitive whole life insurance?

If you need life insurance to last for an indefinite period of time, interest-sensitive whole life (ISWL) may be the right choice for you. Some of its uses are:  

  • Mortgage protection — Death benefit can be used to help pay off mortgages and other outstanding debts.
  • Estate planning — Can provide funds to cover estate expenses and help avoid the need to sell assets and/or borrow money to cover these expenses.
  • Charitable giving — A policy can enable you to make a significant donation to your favorite charity upon your death.  



If you own a business, interest-sensitive whole life insurance can help safeguard it and serve as an attractive employee benefit:  

Key person insurance — Provide funds to assist in the continuation of business in the event of the death of an individual which causes a financial strain to the business.

Executive bonus arrangement — Reward and retain valued employees by paying for a permanent life insurance policy, in which the employee retains all ownership rights.

Split dollar agreements — An employer and employee agree to share the cost of the premium of an ISWL policy as an added employee benefit.

Buy/sell agreements — Provide the funds needed to purchase the ownership interest of a deceased owner or partner.  


Product overview 

Foresters Financial Interest Sensitive Whole Life1 (ISWL) is a permanent whole life insurance policy that provides life insurance coverage along with income tax-deferred accumulation value. It is likely appropriate for individuals who have permanent life insurance needs and prefer the consistency of a fixed premium.

Foresters Financial also offers:

Universal life insurance
Term life insurance
Variable life insurance

1Underwritten by Foresters Life Insurance and Annuity Company.  
2All guarantees are based upon the financial strength and claims-paying ability of Foresters Life Insurance and Annuity Company.  

An ISWL policy may be surrendered at any time. However, you should know that under current tax law, surrender of a policy like ISWL may be taxable to the extent that the cash you receive exceeds the premiums you have paid. In addition, a surrender of the policy in the first twenty years or up to age 90 will incur a surrender charge. The amount of the surrender charge, which will be subtracted from the Accumulation Value, will depend upon how long the policy has been in force, your age and underwriting classification. Surrendering a policy is an important decision with possible tax and financial consequences. Foresters Financial recommends that you consult your personal tax adviser before requesting a surrender of your policy.  

ISWL is approved in these states with the form number listed: ISWL-2 (12-10)(AR), ISWL-2 (12-10)(AZ), ISWL-2 (12-10)(CA) , ISWL-2 (12-10)(CT) , ISWL-2 (12-10)(DC), ISWL-2 (12-10)(DE), ISWL-2 (12-10)(FL), ISWL-2 (12-10)(ND), ISWL-2 (12-10)(NY). 

The following states are approved as form number ICC10-ISWL-2 (12-10): AL, CO, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA

413383 US (02/16)
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