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Foresters Financial life insurance review 2020

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This insurer offers member benefits and charitable donations to complement its coverage.'s rating: 4 / 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


Free quote Contact an agent
Available states Not listed
Policy options Term life, Whole life, Final expense, Universal life
Term lengths 10, 15, 20, 25 or 30 years
Issue age 18 to 85
Coverage $10,000 to $500,000+
Medical exam required Not listed
Monthly cost Not listed
Claim methods Phone: 800-828-1540
Customer support Customer support number: 800-828-1540 from 8 a.m. to 8 p.m. ET weekdays Email:
Riders Accelerated death benefit rider, Accidental death benefit rider, Child rider, Critical illness benefit rider, Disability income benefit rider, Guaranteed insurability rider, Spouse rider, Term insurance rider, Waiver-of-premium rider

Expert review

Katia Iervasi

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.

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.

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

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.
  • 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.
  • Financial strength. Foresters has an A (Excellent) rating with AM Best, which points to its ability to pay out claims.


  • No online quotes. You’ll need to contact a local agent to get a quote.
  • Short customer service window. Agents are only available on weekdays. Outside of business hours, you’re limited to email.

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Foresters 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.

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 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. 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 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

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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