American Amicable vs. Foresters Financial: Best Life Insurance Company in 2021

In a comparison of American Amicable vs. Foresters Financial, Foresters came out on top. Foresters Financial received higher ratings from A.M. Best. Foresters also offers more affordable rates than American Amicable. Finally, both companies received comparable reviews from the Better Business Bureau.

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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: Jul 19, 2021

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Quick Facts

  • Foresters Financial scored higher ratings from A.M. Best than American Amicable
  • American Amicable and Foresters Financial are comparably rated by the Better Business Bureau
  • Foresters offers more affordable rates to men and women of various ages than American Amicable

We will be covering both company pricing as well as company ratings today in our American Amicable vs. Foresters Financial Life Insurance review.

Before jumping into this American Amicable vs. Foresters Financial Life Insurance Company review, type your ZIP code into our free and helpful tool above to find affordable life insurance quotes in your area.

American Amicable vs. Foresters Financial: Which company offers more affordable rates to women?

When you begin your life insurance company comparison, you probably want to start with something important to you.

For many, what is important is pricing. Let’s take a look at a table showing the rates offered to women for a 20-year $250,000 term life insurance policy.

Sample Average Female Monthly Life Insurance Rates for a 20-year term $250,000 Policy by Age and Company
CompanyAge 50 Average Monthly RatesAge 60 Average Monthly Rates
American Amicable$58.50$136.35
 Banner $31.17 $78.83
Cincinnati Life $27.28$56.76
Fidelity Life $45.68$58.32
 Foresters $31.94 $85.97
John Hancock$33.92$78.08
Liberty Mutual$32.94$59.76
 Lincoln $32.77 $160.13
 Mutual of Omaha $36.05 $94.02
Haven Life$21.54$48.09
MassMutual$31.08$63.58
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Is it easier to find affordable American Amicable vs. Foresters Financial Life Insurance quotes? As you can see, for women in their 50s, American Amicable is almost $27 more expensive than Foresters Company per month.

Look at the American Amicable vs. Foresters Financial life insurance rates for women in their 60s, where Foresters is $51 cheaper per month.

So, our Foresters Financial vs. American Amicable life insurance review has shown us that Foresters offers more affordable rates.

Let’s see if this holds true in our next section when we analyze the rates offered to women by companies including Foresters Life Insurance and American Amicable.

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American Amicable vs. Foresters Financial: Which company offers more affordable rates to men?

We are now going to engage in a similar process to the last section. This time, though, we will be analyzing the rates offered to men for a 20-year term life insurance policy valued at $250,000.

Sample Average Male Monthly Life Insurance Rates for a 20-year term $250,000 Policy by Age and Company
Company Age 50 Average Monthly RatesAge 60 Average Monthly Rates
Accordia Life$56.07$153.53
American Amicable$87.75$190.35
Banner $40.85 $111.13
Cincinnati Life$27.28$56.76
Fidelity Life $54.59$73.92
 Foresters $42.66 $114.84
Liberty Mutual$40.32$95.58
 Lincoln $46.55 $190.53
Mutual of Omaha $46.55 $134.05
Haven Life$25.72$65.77
John Hancock$44.47$115.00
MassMutual$37.59$87.42
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As you can see, for men in their 50s, American Amicable is over twice as much as Foresters per month. For men in their 60s, Foresters is nearly a whopping $76 cheaper per month than American Amicable products.

Let’s wrap up with Foresters Life Insurance Company ratings and American Amicable life insurance reviews from companies such as A.M. Best and the Better Business Bureau.

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American Amicable vs. Foresters Financial: Which company is more well-reviewed?

As we said, we are now going to be looking at Foresters Insurance Company reviews and American Amicable ratings from companies such as A.M. Best and the Better Business Bureau.

The Better Business Bureau’s rating scale goes from the highest score of “A+” down to the lowest score of “F.” American Amicable received the Better Business Bureau’s highest rating of “A+” Not to mention, they are also BBB accredited.

What score did the Better Business Bureau give Foresters Financial? Foresters also received a rating of “A+,” but they are not BBB accredited.

A.M. Best’s Financial Strength Rating (FSR) scale is slightly different in that it ranges from “A++” down to “D.” Not to mention, they actually have two different scales. American Amicable has an A.M. Best FSR of “A-” (Excellent).

What FSR did A.M. Best give Foresters Financial? Foresters received a slightly higher rating of “A.”

A.M. Best also has what is called Long-Term Issuer Credit Ratings (Long-Term ICR). A Long-Term ICR is focused on the future and can be issued on a long-term basis or short-term basis.

This scale goes from the high end of “aaa” (Exceptional) down to the low end of “c”.

What long-term ICR did American Amicable receive? They received a rating of “a-“. Did Foresters Financial receive the same rating? They did not, as they actually received a higher rating of “a+.”

In short, you have two great options here, but Foresters Financial has the leg up over American Amicable.

Don’t let your life insurance company comparison stop with this American Amicable vs. Foresters Financial comparison. Type your ZIP code into our free and helpful tool below to find affordable life insurance in your area.

Frequently Asked Questions — American Amicable vs. Foresters Financial

Still not sure if you want to buy American Amicable vs. Foresters Financial life insurance? Read on for some FAQs.

#1 – What is the Foresters Life Insurance Company’s phone number?

If you need to speak to a Foresters Company agent, the Foresters Life Insurance Company’s customer service phone number is 1-800-828-1540.

You can also use your Foresters Life Insurance login on www.foresters life insurance.com instead of contacting a Foresters agent or the Foresters Insurance customer service number.

#2 – Where can I find Foresters Life Insurance complaints and Foresters Life Insurance reviews?

You can find Foresters Financial Services Inc. Reviews, Foresters Financial Ratings, and complaints via the Better Business Bureau.

#3 – What is Foresters Financial in relation to Independent Order of Foresters Life Insurance?

IOF Foresters Life Insurance and Foresters Financial Holding Company, Inc. are the same company.

#4 – Where is Foresters Financial headquarters?

Foresters Financial Services headquarters is located in Toronto, Canada.

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