Accordia Life vs. Foresters Financial: Best Life Insurance Company in 2021

Comparing Accordia Life vs. Foresters Financial will allow you to determine the best life insurance provider for your needs. Foresters Financial offers lower monthly rates and has been rated better by Standard and Poor’s. The two companies offer similar insurance policies, except in their types of universal life insurance. Discover more about these two life insurance providers to find the best fit for you.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Apr 30, 2021

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Quick Facts

  • Foresters Financial has lower monthly rates than Accordia Life
  • The providers have been rated the same by A.M. Best
  • Accordia Life offers indexed universal life and Foresters Financial offers variable universal life

Accordia Life and Foresters Financial offer various types of term life insurance and permanent life products. They are rated similarly, but Foresters Financial is rated higher by Standard and Poor’s. Compare Accordia Life vs. Foresters Financial to find the best provider for you.

Before comparing Accordia Life vs. Foresters Financial, enter your ZIP code to find the best life insurance quotes in your area.

Accordia Life vs. Foresters Financial: What products are offered?

Accordia Life and Foresters Financial offer term life, universal life, and whole life insurance policies. Understanding the specific policies offered will help you decide which company meets your needs.

Accordia Life offers term life policies in 10- to 30-year terms. The minimum amount of these policies is $50,000. That’s less than most competitors offer as its lowest value. This can be beneficial for those looking for lower rates or less coverage.

The provider also offers whole life, universal life, and indexed universal life policies. Whole life has fixed premiums, universal life has flexible premiums, and indexed universal life has a cash value that depends on popular stock indexes.

Foresters Financial has term life options that range from 10 to 30-year terms. It also offers accident death life insurance as a term policy, something that most providers only offer as a rider. This protects a policyholder that suffers an accidental death.

Similar to Accordia Life, Foresters Financial offers whole life and universal life coverage. The company also offers variable universal life insurance, which features a cash value that can be invested in a separate account, similar to a mutual fund.

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Accordia Life vs. Foresters Financial: What riders are available?

Most life insurance providers allow customers to customize their policies by offering additional options. Known as riders, these options can usually be added to a policy for an additional premium. Accordia Life and Foresters Financial offer various riders.

Accordia Life and Foresters Financial offer an accelerated death benefits rider free of charge with universal life policies. This rider allows a policyholder to access a portion of their death benefit before death if they suffer from a critical, chronic, or terminal illness.

The companies also offer various optional riders for an additional premium. Optional riders offered by Accordia Life include:

  • Primary insured
  • Additional insured
  • Guaranteed purchase options
  • Children’s insurance
  • Accidental death benefit
  • Waiver of monthly deduction
  • Waiver of a specified premium
  • Wellness for Life

Optional riders offered by Foresters Financial include:

  • Accidental death
  • Guaranteed insurability
  • Waiver of premium
  • Owner waiver of premium
  • Children’s term life insurance
  • Additional Purchase Option

Accordia Life and Foresters Financial offer more riders than most of their competitors.

Accordia Life vs. Foresters Financial: What are their monthly rates?

A common way of comparing companies is by examining their monthly rates. Comparing Accordia Life vs. Foresters Financial life insurance rates shows they are lower than many competitors. The following charts offer a comparison based on age and gender.

Accordia Life vs. Foresters Financial: Male 20-Year Term $250,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly Rates for a 20-Year Term $250,000 Policy (Male)Foresters Financial Average Monthly Rates for a 20-Year Term $250,000 Policy (Male)
Age 30$16.91$13.56
Age 40$23.36$18.81
Age 50$56.07$42.66
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The next chart has the same information for females.

Accordia Life vs. Foresters Financial: Female 20-Year Term $250,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly Rates for a 20-Year Term $250,000 Policy (Female)Foresters Financial Average Monthly Rates for a 20-Year Term $250,000 Policy (Female)
Age 30$15.58$12.47
Age 40$20.69$16.63
Age 50$41.83$31.94
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As the charts display, Foresters Financial offers lower monthly rates than Accordia Life and rates for females are lower than for males.

Accordia Life vs. Foresters Financial: What are their financial ratings?

Credit rating agencies provide financial ratings that inform customers of the likelihood that a company will be able to provide a payout when a claim is filed. The most trusted rating agencies have completed Accordia Life and Foresters Financial reviews.

Accordia Life has been rated an “A” by A.M. Best and Fitch, an “A-” by S&P, and an “A3” by Moody’s. These ratings are all considered strong, though S&P’s rating comes with a warning that Accordia Life might struggle to provide a payout during difficult economic conditions.

Foresters Financial has been rated an “A” by A.M. Best and S&P. They haven’t been rated by Fitch or Moody’s.

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Accordia Life vs. Foresters Financial: How do you receive quotes?

Online quotes are not available on the Accordia Life Insurance or Foresters Financial websites. Instead, the companies direct potential customers to contact representatives that will provide quotes and more information on their life insurance options.

For more information on either company’s policies or to contact representatives, you can visit Accordia Life’s website at www.globalatlantic.com and Foresters Financial’s website at www.foresters.com.

Accordia Life vs. Foresters Financial: History

The Accordia Life and Annuity Company was founded in 1896. Athene sold the provider in 2013 to Global Atlantic, making the provider a subsidiary of the larger insurance company.

Foresters Financial Services was founded in 1874 as a fraternal benefit society. After changing hands several times, the company was purchased in 2020 by the Nassau Financial Group. Today, the provider is a subsidiary of the larger organization.

Accordia Life vs. Foresters Financial: The Bottom Line

Accordia Life and Foresters Financial have been rated similarly by trusted credit rating agencies but Foresters Financial offers lower monthly rates. Compare Accordia Life vs. Forester Financial to find the best fit for you.

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Now that you’ve compared Accordia Life vs. Foresters Financial, enter your ZIP code to discover the top life insurance rates in your area.

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Accordia Life vs. Foresters Financial: Frequently Asked Questions

Here are some frequently asked questions about Accordia Life and Foresters Financial.

#1 – Can I buy Accordia Life vs. Foresters Financial life insurance online?

Accordia Life customers can purchase policies online. Foresters Financial customers must contact an agent to purchase a policy. Both companies allow customers to make policy changes and payments online.

#2 – Can I buy other types of insurance from Accordia Life and Foresters Financial?

Accordia Life customers can purchase other types of insurance through Global Atlantic’s various subsidiaries. Foresters Financial also offers final expense insurance.

#3 – How can I make payments to Accordia Life and Foresters Financial?

Premium payments to Accordia Life and Foresters Financial can be made online or by phone. Payment options include debit card, credit card, automatic bank draft, and check.

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