Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Foresters Financial life insurance review 2020

Last updated:  

This insurer offers member benefits and charitable donations to complement its coverage.’s rating: 4.0 / 5.0


Get a quote if…

  • You want to work closely with a financial advisor 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+



Free QuoteContact an agent
Insurance ProductsTerm life, Whole life, Final expense, Universal life
Issue Age18 to 85
Coverage Amount$10,000 to $500,000+
Term Lengths10, 15, 20, 25 or 30 years
Ratings, Accreditation and MembershipsA.M. Best Company: A (Excellent)
Customer Service OptionsCustomer support number: 800-828-1540 from 8 a.m. to 8 pm. ET weekdays
Policy Riders OfferedYes

Expert review

Katia Iervasi

Review by

Katia Iervasi is a writer from Sydney, Australia. Her writing — and curiosity — has taken her around the world, and she now calls New York home. With a journalistic eye for detail, she navigates insurance and finance 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 don’t like the idea of pushy salespeople, you might want to explore your options.

What types of life insurance 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:

  • 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.
  • 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.

Speak to an agent to find out if you qualify.

What riders can I add to my policy?

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

  • Accidental Death Rider
  • Accelerated Death Rider (note: this rider isn’t available in California or Connecticut, or for policies valued at less than $25,000)
  • Family Health Benefit Rider
  • Waiver of Premium Rider
  • Term Insurance Rider
  • Spouse Term Life Insurance Rider
  • Children Term Life Insurance Rider
  • Disability Income Protection Rider
  • Paid-Up Additions Rider

Some of these riders are baked into the policies, and others are available for an extra fee.

How much does Foresters Financial life insurance cost?

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.

Pros and cons of Foresters Financial life insurance


  • Personalized service. You’ll be assigned to a local agent, who will answer your questions and help you to apply for coverage.
  • Full product line. The insurer has a wide range of term and permanent policies and riders. It can also cater to high-risk individuals.
  • Fast-tracked applications. Foresters offers accelerated underwriting on some policies up to $400,000.
  • Attractive member benefits. Among its many member benefits, Foresters offers emergency grants, terminal illness loans, and discounts on legal and financial services.
  • Charitable contributions. Each policyholder picks a charity, and if they die during the policy term, the insurer pays an additional 1% (up to a maximum of $100,000) of the face amount to a charitable organization. The donation is made in the policyholder’s name.
  • Financial strength. Foresters has maintained an A (Excellent) rating with A.M. Best for the past 18 years. This points to its ability to pay out claims.


  • No online quotes. You can’t apply for a policy online. Instead you’ll need to contact a local agent.
  • Short customer service window. Agents are only available on weekdays. Outside of business hours, you’re limited to email.
  • Pushy salespeople. Across forums, consumers have complained about the aggressive approach of some sales reps.

Compare other life insurance companies

Name Product Issue Ages Minimum Coverage Maximum Coverage Medical Exam Required State Availability
LadderLife™ Life Insurance
20 - 60 years old
Not available in New York
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 85 years old
Depends on provider and policy
All 50 states
Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
18 - 100 years old
This life insurance broker combines technology and the human touch to match you with a policy tailored to your needs.
21 - 54 years old
Not available in New York
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
20 - 85 years old
Depends on policy.
Products and product features may not be available in all states.
This well-established life insurance provider could offer you $250,000 worth of coverage for as low as $14 per month.

Compare up to 4 providers

Foresters Financial reviews and complaints

Though it’s been in the biz for 140 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 six complaints in the last 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.

How does Foresters Financial protect my data?

Foresters takes the following measures to secure its customer accounts:

  • It has sophisticated security systems and firewalls to block unauthorized access to its network.
  • It uses end-to-end encryption to protect your data.
  • It requires all customers to create strong passwords, and disables passwords after a few unsuccessful attempts to log in.
  • It automatically logs you out of your account if you’ve been inactive for a while.
  • It confirms all account changes via email.

How do I sign up?

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

  1. Go to the Foresters Financial website.
  2. Click Find an Advisor/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. Press Submit. Otherwise, you can 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.

More about Foresters Financial

Foresters Financial isn’t a typical life insurance company. It 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.

Headquartered in Toronto, Ontario, Foresters has an office in New York, US, and a network of financial advisors and agents dotted around the country. It manages over $43 billion in assets, and its three branches — Foresters Life and Insurance Company, Foresters Life insurance and Annuity Company, and The Independent Order of Foresters — all hold an A (Excellent) financial rating with AM Best.

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.

If you’re not in the retirement planning mindset just yet, it’s worth comparing life insurance providers.

Frequently asked questions

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.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site