Foresters Life Insurance Company Review – Foresters life insurance company is just one of the top life insurance companies represented by LifeInsuranceBlog. Foresters are on our list of top 10 life insurance companies in the U.S.A., as well as our list of top 10 term life insurance companies who offer insurance without a physical exam requirement.
Needless to say, we believe Foresters is one of the best life insurance companies out there. That said, Foresters excels in specific scenarios, and everyone’s insurance needs are different. Contact us for a no-obligation consultation to see if Foresters (or another life insurance company) is best for your situation.
Table of Contents
- 1 Foresters Life Insurance Company Review
- 2 Life Insurance Advantages
- 3 Foresters A.M. Best Rating
- 4 High-Risk Life Insurance Clients Get Favorable Underwriting
- 5 Great Line of LIfe Insurance Products
- 6 PlanRight Whole Life Insurance
- 7 LifeFirst Non-Medical
- 8 Smart UL Non-Medical
- 9 Interest Sensitive Whole Life
- 10 Foresters Life Insurance Rates
- 11 Life Insurance Disadvantages
- 12 Life Insurance Alternatives
Foresters Life Insurance Company Review
In this review, we’ll address the advantages, disadvantages, and alternatives to Foresters Life Insurance Company. We will also review the carrier’s products offered, rating, and special niches they fulfill.
Life Insurance Advantages
Foresters claim to be an international financial services provider who cares about every family’s well-being. If you search for Foresters Life Insurance Company online, you’ll see that most of the reviews about them are positive. The company prides itself on championing on behalf of its customers, not its shareholders.
Foresters A.M. Best Rating
A.M. Best, renowned for their reviews of life insurance companies, gave Foresters an “A”, a rating that was last updated in August 2016. They have deemed Foresters’ financial strength as excellent.
High-Risk Life Insurance Clients Get Favorable Underwriting
Not long ago, a client of ours that was considered “high risk” got approved for a Foresters life insurance policy. The client was having trouble obtaining life insurance he could afford and was declined by another company. This client had a stint, was receiving SSI Disability benefits, and was prescribed Plavix, a blood thinner that scares away many life insurance companies. Foresters, however, gave him with a policy he was happy with.
Great Line of LIfe Insurance Products
Foresters provides the following life insurance plans:
- whole life insurance,
- term life insurance,
- final expense insurance,
- universal life insurance,
- accidental death insurance.
The company has a life insurance plan for just about everyone who wants to protect their loved ones. Let’s go over some of Foresters products:
PlanRight Whole Life Insurance
One of the most popular items provided by Foresters is the final expense policy. This is a permanent whole life policy plan with a guaranteed level premium. Its premium is lower than other final expense policies. However, there are health requirements and questions that must be adhered to. As such, the policy isn’t for everyone. It comes in three different versions: graded, fixed, and modified.
Fixed Death Benefit: this benefit provides complete face value from the beginning.
Graded Death Benefit: during the first couple of years, there is a limited death benefit. You will acquire a sum greater than the total premium paid acquired with 4.5% interest, or 30% of the face amount during the initial year, and 70% during the second. The death benefit extends to 100% after the first two years.
Modified Death Benefit: paid during the first two years, this limited death benefit is based on the return of the premium paid, plus an additional 10%. The death benefit becomes 100% after the first two years.
Coverage is available for people 50 years or younger for up to $250,000. Policies that are completely underwritten are also attainable for bigger face amounts. To learn more about No Exam Life Insurance please click HERE.
Smart UL Non-Medical
Coverage is available for people 55 years or younger for up to $250,000. Policies are also available for people 70 years old or younger with face amounts up to a maximum of $150,000.
Interest Sensitive Whole Life
Foresters’ terminology differs from other insurance companies with regards to cash value life insurance benefits. Foresters call the cash value “accumulation value”. Whatever you call it, Foresters Interest Sensitive Whole Life is a fantastic insurance policy for people who see the advantages of having long term protection that establishes cash value.
Foresters Life Insurance Rates
For Foresters’ life insurance quotes, simply provide your information into our quote engine, which will also showcase quotes from several alternative carriers.
Life Insurance Disadvantages
There doesn’t appear to be a lot of cons against Foresters Life Insurance. The company provides a niche service and their products might be just what you’re looking for. However, Foresters is not the only game in town.
It’s good to have options when shopping for life insurance. Foresters is one of many choices you have. However, they might not be your best bet for diabetic life insurance, for example. This is why it’s vital to consider all alternatives when purchasing life insurance.
Life Insurance Alternatives
Foresters is a great option, but no life insurance company is perfect. Every company has a specialty it caters to. Selecting Foresters without knowing what options other companies provide wouldn’t be prudent. As such, it is wise to browse for the cheapest life and whole life insurance rates that apply to your specific profile of health. That’s where LifeInsuranceBlog can really help you.
The LifeInsuranceBlog agency works with numerous highly regarded companies. Please check our life insurance companies page to see more reviews. Our top priority is to help you get the greatest policy at the best rate! We customize policies because we know that every client is different. Put our expertise to work to get the life insurance policy right for you, while saving thousands of dollars in the process. Give us a call at 888-411-1329 and let’s see how we can help you.
Thank you for reading our post, Foresters Life Insurance Company Review. Please leave a comment or question below.