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

When comparing American National vs. Foresters Financial life insurance rates, Foresters Financial is cheaper for women and men. Both American National and Foresters Financial sell popular life insurance policies such as term life, whole life, and universal life. In an evaluation of American National vs. Foresters Financial financial stability, A.M. Best awards an A rating to both companies.

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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 beats American National with cheaper term life insurance rates for women and men
  • A.M. Best gives an A rating to both American National vs. Foresters Financial for strong financial positions
  • American National and Foresters Financial have each operated for over 115 years

The vast number of life insurance options on the market makes it hard to choose the right insurer and policy. Let’s examine American National vs. Foresters Financial life insurance companies to see if either fits your needs. 

American National and Foresters Financial both sell popular life insurance products including term life insurance, whole life insurance, and universal life insurance coverages.

That doesn’t mean the companies are interchangeable. Compare term life insurance quotes before you buy American National vs. Foresters Financial life insurance to make sure you get the best deal.

You also have options other than American National vs. Foresters Financial life insurance quotes. Enter your ZIP code now to compare free quotes on life insurance in your area. 

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

Let’s take a look at American National vs. Foresters Financial life insurance rates to see which company can offer you the best deal.

The following table compares average monthly American National vs. Foresters Financial insurance rates for non-smoking women of different ages. 

American National vs. Foresters Financial: Male 20-Year Term $100,000 Policy Monthly Rates by Age

AgeAmerican National Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)Foresters Financial Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)
25$15.98 $9.19
35$16.68 $9.89
45$30.76 $16.45
55$65.00 $32.64
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Foresters Financial offers cheaper life insurance rates for women of all ages. We also see rates for both insurers increase with age. It’s important to remember that age, gender, medical history, and lifestyle may also impact the rates you pay for life insurance. 

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

Next, we’ll examine monthly average rates for men from American National and Foresters Life. 

American National vs. Foresters Financial: Female 20-Year Term $100,000 Policy Monthly Rates by Age
AgeAmerican National Average Monthly Rates for a 20-Year Term $100,000 Policy (Female)Foresters Financial Average Monthly Rates for a 20-Year Term $100,000 Policy (Female)
25$14.17$8.31
35$15.81$9.28
45$24.80$14.00
55$47.17$25.55
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The comparison of affordable American National vs. Foresters Financial life insurance shows Foresters Financial is cheaper for men at each age surveyed.

Men of all ages pay higher monthly rates than women, which is typical in the life insurance industry. 

American National vs. Foresters Financial: What life insurance products are offered?

Wondering if there are similarities and differences between American National and Foresters Financial life insurance

American National offers a wide range of life insurance products that customers look for including:

  • Term life insurance
  • Whole life insurance
  • Universal life insurance
  • Guaranteed-issue life insurance
  • Indexed universal life insurance

American National offers term life insurance policies of five, 10, 15, 20, or 30-year terms. The structure of their terms is unique because many insurers don’t have five-year or 15-year terms.

Customers can get up to $1 million in coverage with American National. 

Another nice feature of an American National’s term policy is that it may convert into a permanent life insurance product like a whole life policy. 

Whole life insurance from American National provides customers with lifetime insurance coverage and fixed benefits that payout to the policyholder’s loved ones.

American National whole life insurance policies also stand out because they occasionally pay dividends to policyholders. While dividends are not guaranteed, the costs of whole life insurance are reduced when they occur. 

American National customers have three options for universal life coverage: basic universal, indexed universal, and guaranteed universal life insurance.  

Now let’s get started with Foresters Financial. The company offers term life insurance, whole life insurance, and universal life insurance, and variable universal life insurance. Foresters Financial term life insurance policies are available in terms of 10, 15, 20, 25, or 30 years. 

When comparing American National vs. Foresters Financial life insurance, notice that American National offers a five-year term life policy while Foresters Financial doesn’t. On the contrary, Foresters Financial provides a 25-year policy that you won’t find with American Life. 

Foresters Financial also offers a term policy for accidental death life insurance. Most insurers only have this option available as a rider.

Whole life insurance products from Foresters Financial carry a cash value that appreciates over time. Like American National’s whole life policies, these products may pay a periodic dividend. 

Both insurance companies charge level rates for their whole life insurance products. This means your premiums stay at a fixed amount for the life of the policy. If you buy a whole life insurance policy at 25, you can expect to pay the same premium as age. 

We see some parallels between American National and Foresters Financial universal life insurance products. Both companies offer universal life insurances with the following features:

  • Flexible premiums 
  • Adjustable death benefits
  • Variable cash value tied to a market index

Now that we know how American National vs. Foresters Financial life insurance coverages compare, let’s see how the ratings and customer service of these companies stack up. 

American National vs. Foresters Financial: How does A.M. Best rate the companies?

American National receives an A rating from A.M. Best for financial strength. This indicates the company has an excellent ability to payout benefits to policyholders. 

A.M. Best also gives Foresters Financial an A rating. A.M. Best constantly reviews the financial positions of life insurance companies and adjusts its ratings accordingly.

Foresters Financial has maintained an A rating for 20 years. Customers should feel confident about the company’s long-term financial health. 

American National and Foresters Financial each have a long history of serving customers. 

American National was founded in 1905 in Galveston, Texas. The company managed 26.3 Billion in total assets as of the most recently reported fiscal year. In addition to life insurance, American National offers the following insurance and financial services products:

  • American National Life Insurance
  • American National Home Insurance
  • American National Car Insurance 
  • American National Health Insurance 
  • American National Pension Insurance
  • American National Credit Insurance
  • American National Annuity 

Customers purchasing multiple insurance products from American National may be eligible for multi-line discounts. 

Foresters Financial is an even older company. It was founded in Canada in 1874. Unlike American National, Foresters Financial focuses primarily on life insurance.

They also offer specialized financial products such as the Foresters Financial Child Trust Fund, which is a type of children’s savings account.

Foresters Financial held $13.9 billion in total assets in 2020. 

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American National vs. Foresters Financial: How do you contact the companies? 

Comparing American National and Foresters Financial life insurance reviews for customer service shows both companies can be contacted online or by phone.  

American National’s website features an agent locator tool to help customers find an agent in their area. An automated chatbot is available to quickly assist customers with common questions or issues. 

The American National login gives customers the ability to manage their policies over the internet.

Policyholders can contact a live representative by calling the American National life insurance phone number at 800-899-6808 Monday through Friday from 7 a.m. to 6 p.m. CST.

Foresters Financial customers need to submit an online request to connect with a local agent. Customers can access their policies by using the Foresters Financial login or calling customer service at 800-828-1540 Monday through Friday from 9 a.m. to 6 p.m. 

We give the edge here to American National. Their expanded customer service phone hours and agent locator tool make it a breeze to contact a company representative. 

American National vs. Foresters Financial: The Bottom Line? 

So, should you buy American National or Foresters Financial life insurance?

Foresters Financial offers cheaper average term life insurance rates for men and women of all ages.

American National has a slightly wider menu of life insurance products. They additionally sell car, home, and health insurance.

Both companies receive A ratings from A.M. Best for financial strength. At nearly 150 years old, Foresters Financial has been around longer. Policyholders may find American National’s customer service more accessible. 

Choosing between American and National Foresters Financial life insurance is challenging. Both companies offer attractive strengths. It’s also possible a different insurer is the best fit for you. Enter your ZIP code below to shop free instant life insurance quotes in your area.

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