• Home
  • /
  • Blog
  • /
  • Foresters Life Insurance Review Dec 2023

Foresters Life Insurance Review Dec 2023

Written By Licensed Agent Sa ElJanuary 30, 2023

foresters financial

Our Verdict


Foresters offers a variety of life insurance plans to suit pretty much anyone’s needs, whatever your outlook on life.

These options include basic Basic term life plans with fixed years and standard death benefits as well as Variable life plans.

We’ve put together this Foresters Life Insurance Company review to help you decide whether Foresters Financial is right for you. 


  • A wide range of plans
  • Their high ratings from A.M. Best 
  • Easy-to-find information about plans
  • Their unique fraternal model


  • Policies can be more expensive than average.
  • Your preferred plan may not be available in your area.

Who Is Foresters Financial?

Foresters Financial is an international services provider offering services to more than three million customers in Canada, the US, and the UK.

foresters life insurance

Many companies fall under the Foresters umbrella, including Foresters Financial Services, Inc., Foresters Investor Services, Inc., and Foresters Life Insurance Company (Foresters Life). In this review, we’ll focus on Foresters Life Insurance.

The company began in 1894 to expand access to life insurance to working-class families. Today, the company’s mission is to help families make their financial dreams a reality through their insurance and investing plans.

Foresters engages with community issues in a hands-on way that makes the company stand out for its social awareness.

For example, the company recently donated $2.6 million to support volunteer activities, built nine playgrounds, and awarded 186 competitive scholarships worth millions of dollars across the US.

Foresters claims an A- minus rating from Better Business Bureau (BBB) and an A (Excellent) rating from A.M. Best, indicating the company’s overall financial strength. 


Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

What Makes Foresters Different?

Foresters differentiates itself from its competitors by offering a variety of life insurance plans to fit your needs and goals.

Whether you’d like to accumulate extra money in a stock portfolio, change your plan to fit your changing life circumstances, or purchase a standard term-life plan, Foresters has you covered.

However, Foresters Life Insurance also stands out for their innovative “fraternal benefit society” model.

Buying a life insurance plan through Foresters feels more like joining an extended family rather than just purchasing a service.

You can apply to become a Foresters member with the purchase of your life insurance and receive special member benefits like scholarships and discounted legal and financial services.

The company’s commitment to social issues is also worth noting for customers who care about corporate social responsibility.

For example, given the COVID-19 pandemic, Foresters created a grant program to help its members benefit their local communities during this difficult time.

Responding to customers’ unique needs during the current pandemic, Foresters put up a page with information on how they are handling COVID-19 and processing claims as usual.

As of April 2020, Foresters also offered a payment grace period for residents of New York experiencing financial hardship.


Life insurance by state.

AlabamaALAlaskaAKArizonaAZArkansasARCaliforniaCAColoradoCOConnecticutDelawareFloridaFLGeorgiaGAIdahoIDIllinoisILIndianaINIowaIAKansasKSKentuckyKYLouisianaLAMaineMEMarylandMassachusettsMichiganMIMinnesotaMNMississippiMSMissouriMOMontanaMTNebraskaNENevadaNVNew HampshireNew JerseyNew MexicoNMNew YorkNYNorth CarolinaNCNorth DakotaNDOhioOHOklahomaOKOregonORPennsylvaniaPARhode IslandSouth CarolinaSCSouth DakotaSDTennesseeTNTexasTXUtahUTVermontVirginiaVAWAWest VirginiaWVWisconsinWIWyomingWYVermontVTNew HampshireNHMassachusettsMAConnecticutCTNew JerseyNJMarylandMDHawaiiHIRhode IslandRIDelawareDE

Features & Benefits

Foresters Life Insurance includes a range of options, such as term life plans, variable plans, whole life plans, and universal plans. 

Term Life Plans

Term life plans are often seen as the most basic or standard life insurance plan and work best when you need coverage for a set period of time.

If you die during that period of time, Foresters will pay out the benefit to your beneficiary. This payment is commonly known as the traditional death benefit.

You should consider a term life plan when planning for big future expenses, such as to save for future college tuition for your children.

They also work well to pay off any debts that your family may inherit after your death, such as auto loans or a mortgage.

Foresters term life plans come in 10-, 15-, 20-, 25-, and 30-year options.

Whole Life Plans

This set of plans is pretty straightforward — you purchase whole life plans to cover you for your lifetime.

Whole life plans are a great option if you want a fixed premium that won’t increase for the rest of your life, or you want to do some long-term planning in your younger years.

This plan also gives you the option to acquire tax-deferred cash value, which can be helpful if you need to borrow money against your insurance policy to pay for a big or unforeseen cost down the line.

Foresters offers three different whole life plans, which you can find on their website.

Variable Plans

Variable life insurance plans are great if you want the comfort of the traditional death benefit, but also would like to acquire cash value through your policy.

When you pay each premium, you may set aside a portion for a portfolio of different options like stocks, bonds, or the money market.

However, this option poses inherent risk, and only those comfortable with investing their money should opt-in to a variable plan.

Universal Plans

When considering life insurance, would you like the flexibility to modify your plan as life changes? In that case, consider a universal plan.

Universal plans combine both a standard life insurance policy with a cash accumulation option.

If you pay more than your necessary premium costs, the excess money will deposit into the cash value portion of your portion, accumulating interest — cash — for you over a long period of time.

You can access this cash if needed during your lifetime.

Under universal life insurance plans, Foresters considers current interest rates as they see fit, and it will often be a better rate than their typical minimum interest rate.

Given this, you may end up paying fewer interest fees in the long run. 

Product Availability

Foresters Financial works with individuals in many English-speaking countries, though it also offers a French version of its website for French-speaking Canadian customers. 

It provides life insurance to customers in the U.S., Canada, and the United Kingdom.

Foresters places few restrictions on its term life plans, offering 10-, 15-, 20-, 25-, and 30-year options.

Customers can also choose whole life insurance plans, which opens up Foresters’ client base to both older and younger customers looking to plan ahead. 


Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

Claims Process & Guarantee

Forester life insurance boasts a reputation for paying claims in a time-sensitive manner and like most insurance product it comes with a free look period.  

The company makes it easy to find information on how to file a claim on their website.

While you can’t file claims directly online, you can fill out a short webform to have an agent contact you by email or phone.

If you are uncertain how to proceed or which forms to fill out, contact a claims representative by dialing 800-828-1540 and selecting option two between the business hours of 8 a.m. and. 6 p.m. ET.

There is no online chat option. You can also email [email protected] with any questions.

Taking Action

Overall, Foresters Financial is a valuable company worth considering if your preferred plan is available in your area or if you’re willing to pay a little more for a term life plan.

Their plans offer flexibility to change and the possibility of cash value accumulation, which are enticing options that distinguish Foresters from their competitors. 

If you need life insurance, you can get immediate quotes and coverage by clicking here or on any of the above buttons. 

Leave a Reply

Your email address will not be published. Required fields are marked *

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}