Your Term Level Term Life Insurance
Helping you face life’s unexpected challenges and maintaining your financial security.
Term life
What is term life insurance?
Term life insurance provides coverage for a defined number of years. It has a fixed premium for a policy that covers you for a specific period of time (e.g. 20 years) and the policy pays out a set amount if you die within that time period. As term life insurance typically has no cash value and is limited in duration, it’s usually the most affordable type of life insurance.Why choose term life insurance?
Term life insurance can be an affordable starting point for your overall financial plan. Term life insurance can help support the important changes and challenges in your life, such as:
- Taking on long-term debts (such as a mortgage)
- Starting a new life with your partner
- Caring for your family
- Taking on short-term debt (such as a car payment, college loan)
Term life insurance with Foresters Financial
Your Term Level Term Life Insurance
Foresters Your Term Level Term Life Insurance1 has the flexibility to help support the financial security you need as your life changes. Your Term is renewable, so you can extend the length of your coverage, and it is also convertible, which means you can convert2 to a Foresters FinancialTM permanent life insurance product without having to go through underwriting again, if that option better meets your needs.
Features and benefits
Your Term offers initial terms of 10, 15, 20, 25 or 30 years. You can pick the term to reflect your current financial obligations and future plans.Premiums are guaranteed for the duration of the term you choose, so you’ll have the comfort of knowing exactly how much your life insurance will cost. The premiums for your base coverage and any additional riders will also never increase during the initial term of coverage you’ve chosen.
Coverage is available for ages 18 to 80, with face amounts starting at $100,000. Your Term can be underwritten on an Accelerated or Medically underwritten basis.
Riders and features
The following riders and/or features may also be included with your basic coverage at no additional premium:
- Common Carrier Accidental Death Rider is designed to provide an additional death benefit if you die of accidental injuries that occur while riding as a fare-paying passenger on a common carrier, such as a plane, bus or train.
- Family Health Benefit Rider can pay a benefit for limited family health expenses that may occur as a result of natural disasters, such as hurricanes, tornadoes and earthquakes.
- Accelerated Death Benefit Rider Rider3 provides an option to accelerate a portion of the eligible death benefit and receive a payment if the insured is diagnosed with a covered illness, which may include critical, chronic, and terminal illnesses.
- Charity Benefit provision4 can help you make a difference in your community. When a claim is paid to the beneficiary(ies), Foresters Financial will pay an additional 1% (up to a maximum of $100,000) of the face amount to a registered charitable organization as designated by the owner. The payment is made as a donation in the name of the insured, and it does not impact the value of the death benefit.
To help extend your coverage, riders such as Waiver of Premium Rider, Accidental Death Rider, or Children’s Term Rider may be available for an additional premium.
Comparing Accelerated Death Benefits with Long-Term Care Insurance
An accelerated death benefit rider (ABR) and long-term care insurance (LTCI) provide different types of benefits.A Foresters ABR is a rider attached to a life insurance certificate:
- It provides the opportunity for the owner to accelerate a portion of the certificate’s death benefit, if the insured is diagnosed with a chronic, critical or terminal illness, and receive a payment that can be used for any purpose.
- Payments are not linked to, nor do they require proof of, medical expenses being incurred.
- A payment under an ABR reduces the death benefit payable under the life insurance certificate and may affect other benefits and values, but if no payment is made the certificate’s benefits and values are still available, as long as the certificate remains in effect. The accelerated death benefit will terminate with the certificate or earlier.
A LTCI product:
- Generally provides reimbursement payments for expenses incurred, due to a prolonged or permanent illness or disability, and provides no death benefit or cash value.
- Has benefits that are typically based on evidence that the insured has incurred qualified long-term care expenses and the benefit, which may be subject to a maximum, is equal to the amount of expenses incurred.
- Has benefits that if are not claimed, may be forfeited.
There may be other differences between a Foresters ABR and a specific LTCI product that you may want to consider before making a decision to purchase.
What's next?
412732 US (11/22)
Foresters products and their riders are underwritten by The Independent Order of Foresters and 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 to be connected with an agent in your area.
1 Foresters Your Term 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 Your Term Life Insurance contract for your state for these terms and conditions. Foresters Your Term and its riders are filed under the following form numbers, where “XX” represents either “US” or your state’s postal abbreviation, as applicable. Foresters Your Term: ICC16-TERM-ANB-US01 or TERM-ANB-XX01-2016; Accelerated Death Benefit Rider (for Chronic, Critical and Terminal Illness): ICC14-TRAD-ABRCHCRTI-US01 or TRAD-ABRCHCRTI-XX01-2014; Accelerated Death Benefit Rider (for Critical and Terminal Illness): ICC14-TRADABRCRTI-US01 or TRAD-ABRCRTI-XX01-2014; Accelerated Death Benefit Rider (for Terminal Illness): ICC14-TRAD-ABRTIUS01 or TRAD-ABRTI-XX01-2014; Children's Term Rider: ICC13-TERM-CTR-US01 or TERM-CTR-XX01-2013; Common Carrier Accidental Death Rider: ICC13-TERM-CCADR-US01 or TERM-CCADR-XX01-2013; Family Health Benefit Rider: FHB-XX01-2007 or FHB-NH02-2007; Waiver of Premium Rider: ICC13-TERM-WPR-US01 or TERM-WPR-XX01-2013; Accidental Death Rider: ICC13-TERM-ADR-US01 or TERM- ADR-XX01-2013.
2 Product riders may not be available for conversion.
3 The Accelerated Death Benefit Rider provides an option to accelerate a portion of the eligible death benefit and receive a payment. The payment, due to diagnosis of an eligible illness, may be less than the acceleration amount which may be subject to a fee, an actuarial discount amount and other applicable deductions. Payment will decrease certificate values and benefits and may affect eligibility for public assistance programs. Receipt of an accelerated death benefit payment under the rider is intended to qualify for favorable tax treatment under section 101(g) of the Internal Revenue Code (IRC). Specific situations may result in a taxable event. For California certificates: This is a life insurance certificate with a rider that also gives you the option to accelerate some or all of the death benefit in the event that you meet the criteria for a qualifying event described in the rider. This certificate does not provide long-term care insurance subject to California long-term care insurance law. This certificate is not a California Partnership for Long-Term Care program policy. This certificate is not a Medicare supplement policy.
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.
1 Foresters Your Term 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 Your Term Life Insurance contract for your state for these terms and conditions. Foresters Your Term and its riders are filed under the following form numbers, where “XX” represents either “US” or your state’s postal abbreviation, as applicable. Foresters Your Term: ICC16-TERM-ANB-US01 or TERM-ANB-XX01-2016; Accelerated Death Benefit Rider (for Chronic, Critical and Terminal Illness): ICC14-TRAD-ABRCHCRTI-US01 or TRAD-ABRCHCRTI-XX01-2014; Accelerated Death Benefit Rider (for Critical and Terminal Illness): ICC14-TRADABRCRTI-US01 or TRAD-ABRCRTI-XX01-2014; Accelerated Death Benefit Rider (for Terminal Illness): ICC14-TRAD-ABRTIUS01 or TRAD-ABRTI-XX01-2014; Children's Term Rider: ICC13-TERM-CTR-US01 or TERM-CTR-XX01-2013; Common Carrier Accidental Death Rider: ICC13-TERM-CCADR-US01 or TERM-CCADR-XX01-2013; Family Health Benefit Rider: FHB-XX01-2007 or FHB-NH02-2007; Waiver of Premium Rider: ICC13-TERM-WPR-US01 or TERM-WPR-XX01-2013; Accidental Death Rider: ICC13-TERM-ADR-US01 or TERM- ADR-XX01-2013.
2 Product riders may not be available for conversion.
3 The Accelerated Death Benefit Rider provides an option to accelerate a portion of the eligible death benefit and receive a payment. The payment, due to diagnosis of an eligible illness, may be less than the acceleration amount which may be subject to a fee, an actuarial discount amount and other applicable deductions. Payment will decrease certificate values and benefits and may affect eligibility for public assistance programs. Receipt of an accelerated death benefit payment under the rider is intended to qualify for favorable tax treatment under section 101(g) of the Internal Revenue Code (IRC). Specific situations may result in a taxable event. For California certificates: This is a life insurance certificate with a rider that also gives you the option to accelerate some or all of the death benefit in the event that you meet the criteria for a qualifying event described in the rider. This certificate does not provide long-term care insurance subject to California long-term care insurance law. This certificate is not a California Partnership for Long-Term Care program policy. This certificate is not a Medicare supplement policy.
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.