Foresters Final Expense

Foresters Description


Foresters is a life insurance organization that has been committed to helping individuals and families achieve their financial security goals for over 130 years. The Foresters PlanRight Final Expense product has taken the market by storm with its competitive premiums, excellent commissions, and superior customer and agent service.



Foresters Highlights:
  • Excellent MGA Commissions
  • 9 Month Advancing
  • "A" Rated by A.M. Best
  • Excellent Agent Support
  • Quick Underwriting



Foresters PlanRight Final Expense

Product Description


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Headquartered in Toronto, Canada, Foresters is a fraternal benefit society that has more than 735,000 members. Foresters shares its financial strength with its members by offering them more than just a financial product; eligible members also benefit from special member benefits and community involvement opportunities to help them and their families get more out of life. Eligibility for Foresters complimentary benefits service is a key part of the Foresters difference.


The Foresters PlanRight series is a series of whole life insurance products designed to help cover final expenses such as the costs associated with funeral and burial expenses, probate fees or other financial obligations that your client's family may face in the event of death. Many funeral expenses run over $10,000 and can create a significant burden on loved ones. There are three plans available:


  1. Level:the death benefit is equal to the full face amount of the certificate.

  2. Graded:the death benefit is 30% of the face amount in year one; 70% of the face amount in year two; 100% of the face amount in year three and later. During the first two years, the death benefit is topped up, meaning that the death benefit is100% of the face amount, in the event of accidental death.

  3. Modified:the death benefit, is, in the first two years, equal to the return of premiums paid plus 10% interest annually; 100% of the face amount in year three and later. During the first two years, the death benefit is topped up, meaning that the death benefit is 100% of the face amount, in the event of accidental death.

Foresters Final Expense Specifications

  • 3 Plans - Level / Graded / Modified
  • $2,000 - $35,000 face amounts
  • Issue age 50-85
  • $10 minimum premium
  • $36 annual certificate fee
  • Modal factors: Monthly – 0.0875 / Quarterly – 0.26 / Semi-Annual – 0.51
  • Cash values available
  • Loan available (on full surrender only)
  • Accidental Death Rider available
  • Common Carrier Accidental Death Rider included

Foresters Fraternal Benefits

  • Critical Illness Member Benefit- If you are diagnosed with certain critical illnesses, such as life threatening cancer, a heart attack, a stroke, or multiple sclerosis, you may be eligible to receive a financial grant of $4,000.

  • Competitive Scholarship Member Benefit - The Foresters Scholarship Program1 offers 350 scholarships worth up to $8,000, for which students of any age may apply with grades from 65% (Canada) or 2.5 (US).

  • Orphans Scholarship Member Benefit- The Orphan Scholarships benefit potentially provides a different scholarship opportunity in the unfortunate event that one parent or both parents are deceased.

  • Young Family Member Benefit- This benefit pays $300 per month per child to the legal guardian for children under 18 years of age in the event of the death of both parents.

  • Terminal Illness Member Benefit- An interest-free loan is provided for any insured individual in the benefit member’s family who becomes terminally ill. The total loan can be up to 75% of the Net Face Amount of the Foresters life insurance you own and the loan will be repaid from the insurance proceeds payable upon the insured's death.

 

States PSM Serves:
Alabama Hawaii Massachusetts New Mexico South Dakota
Alaska Idaho Michigan New York Tennessee
Arizona Illinois Minnesota North Carolina Texas
Arkansas Indiana Mississippi North Dakota Utah
California Iowa Missouri Ohio Vermont
Colorado Kansas Montana Oklahoma Virginia
Connecticut Kentucky Nebraska Oregon Washington
Delaware Louisiana Nevada Pennsylvania West virginia
Florida Maine New Hampshire Rhode Island Wisconsin
Georgia Maryland New Jersey South Carolina Wyoming