Foresters Financial

Product Details

Agent Transfer Rules

Shorter applications

Foresters is simplifying their paper and electronic applications for Term, Universal Life, Whole Life and Single Premium Whole Life. Easy Proposed Insured questions, simplified tobacco question, shorter look back periods, and medical conditions have been revised for diabetes that used to be automatic decline. 

Improved e-App

Less reliance on overflow forms and fewer underwriting questionnaires.

Point-of-sale (POS) 

Submit applications electronically using e-App and get point-of-sale eligibility decisions by email in less than 10 minutes. 

Foresters is a fraternal company which means policyholders are members and the company offers members additional benefits and discounts.  CT, LA, MA, NM, and PA are Fraternal States so agents must apply for a Fraternal License in addition to a Life license. 

Foresters requires full appointment before any business can be written.  They require E & O coverage and a current AML certificate.

Final Expense: PlanRight

PlanRight can be sold in all 50 states. Voice Signature is available in AL, AR, AZ, CO, FL, GA, IA, ID, IN, KS, KY, LA, MI, MO, MS, NC, NE, NV, OH, OK, SC, TN, TX, VA, and WV.

All plans include Accidental Death Rider for ages 50-80.

Level Plan:

Minimum coverage $2,000

Minimum Premium $10.00

Ages 50 to 80 up to $35,000

Ages 81-85 up to $15,000

Graded Plan:

A 3-year graded plan

Minimum Premium $10.00

Minimum Coverage $2,000

Ages 50 to 80 up to $20,000

Ages 81-85 up to $10,000

Modified Plan:

A 3-year modified plan

Minimum Premium $10.00

Minimum coverage $2,000

Ages 50 to 80 up to $15,000

Ages 81-85 not available

Other Products:

AdvantagePlus WL:

Policy owner builds their own plans

Riders Include:

Paid-up Additions, Term, Waiver of Premium, ADB, Disability Income, Common Carrier Accidental Death, Family Health Benefit.

Non-Medical: Ages 0-75 from 25,000 to $250,000.

Non-Medical: Ages 16-55 up to $400,000

Medical: Agens 0 to 85 from 25,000 to $499,999

Band II 500,000 and up for all issue ages

Your Term:

Re-pricing with competitive premiums. Lower minimum premiums: $10 monthly, $30 quarterly, $60 semi-annually, and $120 annually.

10-year term for non-medical

15-year term for non-medical and medically underwritten

Issues ages up to age 80 for non-medical

Non-medical face amounts up to $400,000

Medically underwritten face amounts as low as $100,000

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Riders:

Accelerated Death Benefit for chronic, critical, and terminal illnesses included for no additional premium

Family Health Benefit and Common Carrier Accidental Death Benefit included for no additional premium

Other riders for an additional charge include Waiver of Premium, Disability Income Rider (Accident only or accident and sickness), Children's Term, and Accidental Death.

Charity Benefit Provision where Foresters will pay an additional 1% of the face amount to a designated registered charitable organization so clients can support their favorite cause at no charge.

Your Legacy:

SMART UL: Ages 16-55 non-medical up to $400,000.

Your Legacy Single Premium WL: Net Amount at Risk to $400k for issue ages 16 to 55. Juvenile face amount as low as $10k with minimum planned premium requirements of $17/ mth.

No additional charge Riders available in many states: Common Carrier ADB, Family Health Benenfit, and ADB