Foresters Financial Life Insurance Review [2021]

Foresters Financial life insurance has been sold for nearly 150 years. This company has term life, whole life, and universal life insurance options for consumers to choose from. Read through our Foresters Financial life insurance review to get an understanding of each of the policies this company offers.

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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: Feb 26, 2021

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Quick Facts

  • Foresters Financial was founded almost 150 years ago, in 1874
  • The company was founded with the aim of providing quality life insurance products to working-class families
  • Today, the company has over 3 million members in Canada, the United States, and the United Kingdom

Foresters Financial life insurance products are just one of the services this company provides. Foresters Financial services also include retirement planning, savings, and investments. For the purposes of our Foresters Financial review, we will be looking at its life insurance offerings.

This company has a number of life insurance offerings, so if you came here looking for term life insurance quotes, you’re in luck.

We’ll review the life insurance products offered by Foresters Financial, see how they compare to the competition, and help you understand the ins and outs of each type of policy so that you can choose the right policy for your needs.

Foresters Financial has been in business for nearly 150 years. It strives to provide the best customer service possible to members, and it offers a competitive line of life insurance products. Let’s take a closer look at what Foresters Financial has to offer.

Before learning more about Foresters Financial life insurance, enter your ZIP code above to compare life insurance rates from the top companies in your area.

How do Forester’s life insurance rates compare with the competition?

Before you decide to buy Foresters Financial life insurance, take a look at how Foresters Financial term life insurance policies stack up against the competition. Compare Foresters Financial life insurance rates below.

Ratings Comparison for AIG vs. Liberty Mutual
Ratings AgencyAIG RatingLiberty Mutual Rating
A.M. BestAA
Better Business Bureau (BBB)FA+
Fitch's RatingsA+BBB+
J.D. Power742N/A
Moody'sA2A2
Standard & Poor's (S&P)A+A
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Those are the term life insurance rates for men. As you can see, Foresters Financial life insurance quotes are competitive. Let’s take a look at how this company compares when it comes to rates for women.

Ratings Comparison for AIG vs. MassMutual
Ratings AgencyAIG RatingMassMutual Rating
A.M. BestAA++
Better Business Bureau (BBB)FB-
Fitch's RatingsA+AA+
J.D. Power742769
Moody'sA2Aa3
Standard & Poor's (S&P)A+AA+
Get Your Rates Quote Now

Compare RatesStart Now →

You can see that Foresters Financial term life insurance is competitively priced for both men and women. This could be the right life insurance policy choice for you if you don’t want to spend more on whole or universal life insurance policies.

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What life insurance products does Foresters Financial sell?

Foresters Financial sells three distinct life insurance products: term life insurance, whole life insurance, and universal life insurance. Each one of these policies has advantages that may be beneficial to you.

We’re going to explore the life insurance product offerings of Foresters Financial and look at the certain advantages that each one of these three life insurance products has. You might find that one of these policies is a better fit for your life than the others. Let’s take a look.

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What are the specifics of Foresters Financial term life insurance products?

Term life insurance is coverage that only lasts for a certain period or term. Foresters Financial sells term life insurance policies with 10-, 15-, 20-, 25-, or 30-year terms.

The premiums stay level for the duration of your term life insurance policy. The younger you are when you purchase your term life insurance, the cheaper it will be in the long run.

Term life insurance is the most affordable life insurance option offered by Foresters Financial.

This type of life insurance is perfect for people who only want coverage during a period of their life. This is great for people with young children who want to make sure their income is protected in the event of their untimely passing.

Term life insurance is also a great way to cover a debt you are paying back, like a mortgage. If you should die before you are able to finish paying your mortgage, your term life insurance coverage can help cover the costs.

What are the specifics of Foresters Financial whole life insurance policies?

Whole life insurance is a lot different than term life insurance. For one, it costs a lot more money, but also, its coverage lasts for an entire lifetime and not just a term.

Foresters Financial whole life insurance products have a cash value that grows over time. Plus, you can earn dividends that are added to your cash value, but these dividends are not guaranteed.

Even though whole life insurance policies are more expensive than term life insurance, the premiums on these policies stay level for the lifetime of the policy. If you buy whole life insurance when you are in your 30s, the premiums you pay will never increase even as you age.

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What are the specifics of Foresters Financial universal life insurance policies?

Universal life insurance is a type of permanent life insurance, much like whole life insurance. What makes universal life insurance different than whole life insurance is that your premiums and death benefit are flexible.

This means you can adjust your premiums and pay less if you’re going through financial times that require you to tighten your belt. Universal life insurance coverage lasts for a lifetime, but it also gives you the flexibility to tailor your life insurance coverage to meet your needs of the moment.

With universal life insurance policies, your cash value grows at a variable rate that is either set by the insurer or tied to a market index. These life insurance policies are great for people who want lifetime coverage but also want the ability to scale their policy down or up based on need.

Is Foresters Financial strong financially?

Foresters Financial has a B+ rating from A.M. Best. This is a good rating financially, but not the highest. The company was recently downgraded due to a merger that was made in the summer of 2020.

Overall, the company has been financially strong. It is likely able to pay out benefits on time and in full.

Foresters Financial Life Insurance: The Bottom Line

This company has been doing business for close to 150 years. It has members around the world in Canada, the United Kingdom, and the United States. Foresters Financial offers a comprehensive suite of life insurance options as well as other financial services for members to choose from.

Ready to buy life insurance? Now that you know more about Foresters Financial life insurance, you can enter your ZIP code below to compare life insurance rates from the top companies in your area.

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