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Foresters Financial life insurance review 2022

This insurer offers member benefits and charitable donations to complement its coverage.'s rating: 3 / 5


  • Get a quote if… You want to work closely with a financial adviser to pick a policy, and take advantage of a long list of member benefits.
  • Pick something else if… You want to apply for coverage online, or are interested in variable life insurance.

18 to 85

Issue Age

$10,000 to $500,000+


Not listed

Medical Exam Required


Policies Term life, Whole life, Final expense, Universal life
Coverage maximum $500,000+
Term lengths 10, 15, 20, 25 or 30 years
Medical exam required Not listed
Available states Not listed
Issue age Not listed


  • Personalized service
  • Fast-tracked applications
  • Attractive member benefits
  • Charitable contributions
  • Financial strength


  • No online quotes
  • Short customer service window
Riders No info available

Review by

Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

Foresters’ policies are designed to support their members through retirement and beyond. The insurer has a solid suite of policies, and offers added value in the form of member benefits, such as loans and free financial advice.

But if you want to apply for coverage online or take advantage of 24/7 service, compare life insurance companies.

Foresters Financial life insurance rates

Foresters doesn’t offer quick quotes or disclose its rates online. To get an idea of how much you’ll pay, contact a local agent or use the handy life insurance calculator on the site.

When researching the rates, remember that the member benefits may offer added value.

How to get a quote from Foresters Financial life insurance

If you’re interested in purchasing a policy, you’ll need to contact a local agent.

  1. Go to the Foresters Financial website.
  2. Choose Find an Adviser/Agent.
  3. To have someone contact you, select Life Insurance from the dropdown box and enter your full name, email address, phone number, ZIP code and your preferred contact method.
  4. Hit Submit. Otherwise, type in your ZIP code and a list of local agents and their contact details will pop up.

I’ve signed up. What happens next?

Your agent will contact you within two business days to answer any questions you have and explain your coverage options. If you decide to apply for a policy, they’ll walk you through the next steps.

What types of life insurance coverage does Foresters Financial offer?

Foresters focuses on helping policyholders set themselves up for a comfortable retirement and financial future. Its product line is made up of term and permanent policies.

  • Term life insurance. Your Term offers protection for a predetermined period of time — 10, 15, 20, 25 or 30 years. The premiums stay the same for the life of the policy, and you can dress up your coverage with a range of riders, such as a Children’s Term Rider. Your Term is available to people between the ages of 18 and 80, with a face value of $50,000 or more.
  • Whole life insurance. There are two whole life policies:
    1. PlanRight is a final expense policy that’s designed to cover funeral and burial costs. It’s open to those aged between 50 and 85, and the coverage remains intact as long as you continue to pay your premiums up to age 121. Depending on your age, you can purchase a policy with a face value between $10,000 and $35,000.
    2. Advantage Plus is a participating whole life policy, which means policyholders may earn dividends based on the company’s profits. It builds cash value over time, and once you’ve accumulated enough, you can borrow against your policy. Advantage Plus is available up to age 85, with face values between $25,000 and $499,999.
  • Universal life
    A pretty straightforward universal life policy, Smart UL has flexible premiums and a ten-year coverage guarantee so long as they’re paid. The cash value portion of the policy grows at a minimum interest rate of 2% each year, and you can tap into it once you’ve built up sufficient cash value. Smart UL is available up to age 85, and you can buy a policy with a face value between $10,000 and $499,999, or over $500,000 in special circumstances.

What riders can I add to my policy?

Depending on your policy, you may be able to customize your Foresters life insurance coverage with the following riders:

  • Accidental death benefit rider
  • Accelerated death benefit rider (note: this rider isn’t available in California or Connecticut, or for policies valued at less than $25,000)
  • Child rider
  • Critical illness benefit rider
  • Disability income benefit rider
  • Guaranteed insurability rider
  • Spouse rider
  • Term insurance rider
  • Waiver-of-premium rider

Foresters Financial life insurance reviews and complaints

Though it’s been operating for over 145 years, Foresters isn’t accredited with the Better Business Bureau (BBB). But the BBB has awarded it an A+ rating for its customer service and interaction. The BBB has recorded 31 complaints in the past three years, and they cover the company as a whole — not just its life insurance division. With such a low volume of complaints, there are no major red flags to note.

AM Best financial rating A-
BBB accredited No
BBB rating A+
1.83/5 out of 6 customer reviews
Trustpilot score 3.4/5 out of 2 customer reviews
Customer reviews verified as of 28 October 2021

Compare life insurance companies like Foresters Financial

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Policygenius - Life Insurance
18 - 85 years old
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
Everyday Life
18 - 70
10, 15, 20, 25, 30, 35 and 40 years.
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
18 - 60 years old
10, 15, 20, 25, 30 years
Apply for term life insurance in minutes and get an instant decision all online. Plus, you’ll get to skip the medical exam.
18 - 65 years old
2 - 35 years
Get a quote for term life coverage that you can adjust over time to match your financial needs. Or, track your debts with Wysh Tracker to automatically lower your coverage as you pay down debt.
20 - 60 years old
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.

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More about Foresters Financial

Foresters Financial began as a British fraternal organization called the Ancient Order of Foresters back in 1834. As a “friendly society,” it provided life insurance and medical assistance to its members. The order expanded to Canada and then the US, and cemented itself as a company that focuses on helping its members to leave a legacy and prepare for retirement.

With its fraternal roots, Foresters still has a strong community focus. Its membership benefits include access to discounted legal and financial services, emergency grant programs, scholarships and a Terminal Illness Loan, which pays out up to 75% of your policy’s face value to cover medical expenses. Foresters also offers academic scholarships and contributes to various charities.

Frequently asked questions

How can I contact Foresters Financial?

Your local agent should be your first contact if you have any questions.

Otherwise, you can contact the customer care by:

    • Phone. Call 800-328-1540 weekdays from 8 a.m. to 8 p.m. ET.
    • Email. Send an email to
    • Social media. Reach out via Twitter or Facebook.
    • Mail. Send snail mail to: Foresters Financial, P.O. Box 179, Buffalo, NY 14201

      How do I file a claim?

      To submit a claim, call the claims department at 800-828-1540 on weekdays from 8 a.m. to 8 p.m. ET. The rep will ask for the policy number and date, cause and manner of death. They’ll then mail you a claims packet within two business days.

      Complete the forms and send them back, along with the certified death certificate and any supporting documents.

      How are claims paid out?

      Once a claim has been processed and approved, the beneficiary will receive a check in the mail.

      What other financial products does Foresters sell?

      Foresters Financial offers annuities, mutual funds plus saving, investing and retirement planning services.

      Life insurance ratings

      ★★★★★ — Excellent

      ★★★★★ — Good

      ★★★★★ — Average

      ★★★★★ — Subpar

      ★★★★★ — Poor

      Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

      Learn more about our methodology here.

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