Foresters Life Insurance Company Review

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Foresters Financial is not your typical life insurance provider, although it does provide several life insurance policy offerings. Foresters has operations in Canada, The United States and the United Kingdom providing life insurance, savings, retirement and investment products as well as member benefits. Foresters is the trade name for “The Independent Order of Foresters” and is headquartered in Toronto, Canada. It is an international fraternal benefit society which is governed by its members and has no shareholders. It has been in business for almost 150 years. The Foresters family of companies has assets totaling over $14 billion.

The Foresters family of companies includes:

· Foresters Life Insurance Company (Foresters Life)

·       Foresters Financial Services, Inc.

·       Foresters Investment Management Company, Inc.

·       Foresters Life Insurance and Annuity Company

·       Foresters Investor Services, Inc.

·       Foresters Advisory Services, LLC

·       Foresters Equity Services, Inc. (Foresters Equity)

·   Forester Life limited (Forester Life)

·       The Children’s Mutual (TCM)

Foresters has a long-standing record of community involvement and charitable donations including its partnership with the American Red Cross and Ronald McDonald House Charities. It is also partners with KaBOOM!, a national non-profit organization focused on building community-focused playgrounds for children living in poverty. Since its partnership with KaBOOM! began in 2006, Foresters has donated over $12 million to this organization.

Financial Stability Ratings and Customer Service Ratings

Foresters has received the “A” Excellent rating with insurance rating organization A.M. Best for 20 consecutive years. This is proof of the company’s consistent record of financial stability. Foresters has an “A+“ rating with the Better Business Bureau.

As of March 2021, the company has a total of 31 complaints with the BBB. Of those 31 complaints, 1 was in advertising/sales issues, 3 were related to billing/collection issues, and 27 were problems with products or services. The company responded to all complaints and that status of all complaints are now "answered" or "resolved." The company's willingness to respond to and try to resolve complaints shows that it cares about the level of satisfaction its customers experience.

Life Insurance 

To help you find the right insurance policy you can compare different types of life insurance to see which is the best fit for you. Foresters offers term life and universal life insurance. Optional riders are available to add coverage including accidental death, accidental disability income, children’s term insurance and more. Life insurance products available through Foresters include:

Foresters Level Term Insurance: Term life insurance is temporary insurance for a specific time period generally offered in terms of years. Term life policies through Foresters are available in 10, 15, 20, 25, and 30 year term limits.

Foresters Advantage Plus II: A permanent life insurance plan with guaranteed premiums and death benefits. This policy accumulates cash value and there is a potential for dividends. Advantages of whole life insurance are guaranteed cash value, level premiums, policy loans and withdrawal loans are allowed.

Foresters SMART Universal Life: A universal life insurance policy that offers permanent coverage with flexible premium payments and long-term growth potential. The Universal life policy through Foresters has a guaranteed minimum cash value with flexible premiums. Policy loans and cash withdrawals are allowed.

Foresters PlanRight: This is a whole life insurance plans that can be used to help cover final expenses.

Foresters Prepared II: An accidental death insurance plan providing coverage against accidental death until age 75.

Foresters ISP Variable Life Insurance: Variable life insurance is permanent or "whole" life insurance which includes a cash accumulation value and is also tax-deferred. Advantages include fixed premium, guaranteed benefits, variable benefits and the ability to access the cash value feature to use for living expenses or other major life events.

Other Services

In addition to life insurance, Foresters Financial also offers annuities (deferred fixed, deferred variable, immediate fixed and longevity fixed); mutual funds (core funds: growth & income, total return, investment grade; non-core funds: international and global funds); savings/retirement planning ( retirement planning, education planning, life insurance retirement planning).

Membership Benefits

Foresters provides many attractive membership benefits. The organization gives away 250 competitive scholarships worth up to $2,000 to members each year. Members can also receive access to sporting events, playgrounds and theme parks as well as receiving discounts on legal services. A terminal illness loan is also available to members, along with a toll-free financial advice hotline, discounted diabetes management products, an online learning library, and more. You can find out more about the benefits of membership by visiting

The Bottom Line

If you are looking for a company with a strong financial standing and a wide range of life insurance, final expense or accidental death coverage; Foresters may fit the bill. Members can enjoy additional benefits including access to grants and scholarships, free and discounted legal services in your area and terminal illness loans. If you need life insurance, it is a good option to consider when shopping for the best value on an insurance policy with all the added benefits of membership. Not all plans and insurance products are available in every state.

Contact Information

To find out about membership benefits, insurance products and services offered through Foresters, you can visit the Foresters website or call 1-800-828-1540. You may also email Foresters,