800 828 1540 toll-free Monday to Friday from 9 a.m. to 6 p.m. ET
clientservice@foresters.com
789 Don Mills Road
Toronto, Ontario, Canada
M3C 1T9
Foresters Canada
Foresters Financial Facts
With over 140 years of financial strength and stability, Foresters Financial is a renowned organization in the financial industry. Holding an impressive A rating from A.M. Best for 21 consecutive years, Foresters has proven its ability to meet policyholder obligations and maintain excellent balance sheet strength. This speaks to their commitment to providing reliable and trustworthy financial solutions to individuals and families.
Foresters offers a wide range of life insurance options, including whole life, critical illness, and term insurance. Their Advantage Plus Whole Life Insurance provides guaranteed death benefits, cash values, and potential dividends, ensuring comprehensive coverage for policyholders. Additionally, Foresters’ critical illness insurance plans offer lump-sum payments for covered serious illnesses, providing crucial financial support during difficult times.
Not only does Foresters focus on individual needs but also on the well-being of its members. They offer member benefits and programs that allow insureds or annuitants to have a say in how the organization operates and elect leaders. Becoming a member leader enables individuals to drive meaningful change within the organization and their community.
Overall, Foresters Financials long-standing reputation for financial strength combined with their comprehensive range of services make them a reliable choice for those seeking personalized financial solutions.
Key Takeaways
- Foresters Financial has over 140 years of financial strength and stability.
- The Independent Order of Foresters and Foresters Life Insurance Company have each received an A rating from A.M. Best for the past 21 years.
- Foresters Financials surplus comprises assets of $18.7 billion and liabilities of $16.8 billion.
- Advantage Plus Whole Life Insurance is a financial tool designed for the well-being of your family.
History of Foresters Financial
Foresters Financial, a member-first organization with over 140 years of financial strength and stability, has a rich history that contributes to its reputation as a trusted provider of life insurance and other financial products.
The origins of Foresters Financial can be traced back to the establishment of the Independent Order of Foresters (IOF) in 1874 in Toronto, Canada. The IOF was founded on principles of unity, protection, and mutual aid among its members.
Over the years, Foresters Financial has experienced significant growth and expansion. It has expanded its operations beyond Canada to include the United States and the United Kingdom. Today, it serves more than three million members worldwide.
Throughout its history, Foresters Financial has remained committed to its founding principles. It continues to prioritize the well-being and financial security of its members by offering innovative financial solutions such as life insurance policies with unique member benefits and rewards programs.
As a member-first organization, Foresters Financial provides opportunities for its members to actively participate in shaping the company’s future. Members have a say in how Foresters operates through elections for leadership positions within the organization. This democratic structure ensures that member voices are heard and valued.
Overall, Foresters Financials long-standing history exemplifies its dedication to providing financial strength and stability while prioritizing the well-being of its members.
Range of Services Offered by Foresters Financial
The range of services provided by Foresters Financial includes life insurance, critical illness insurance, and member benefits such as leadership opportunities and the ability to participate in important elections.
Foresters Financials offerings encompass various financial solutions designed to meet the needs of individuals and families.
One significant aspect of Foresters Financial’s products is its life insurance coverage. They offer different types of life insurance policies, including whole life and term life insurance. These policies provide a guaranteed death benefit, premium amounts, and cash values for policyholders throughout their lifetime. Additionally, Foresters Financial’s life insurance policies may include potential dividends that can be used to purchase additional paid-up insurance or accumulate with interest.
In addition to life insurance, Foresters Financial also offers critical illness insurance. This type of coverage provides a lump-sum payment if the insured individual is diagnosed with a covered serious illness. The benefit can be used to cover living expenses, lost income, medical treatments, and recovery expenses.
Moreover, being a member of Foresters Financial comes with unique benefits beyond just financial protection. Members have the opportunity to become leaders within the organization and drive meaningful change in their communities. They can participate in important elections that shape the organization’s future and organize volunteer events in their neighborhoods.
Overall, Foresters Financial provides a comprehensive range of products and services aimed at addressing individuals’ financial needs while also offering opportunities for personal growth and community involvement through its membership program.
Highlights and Achievements of Foresters Financial
Notable accomplishments and milestones have solidified Foresters Financials position as a reputable and impactful organization within the financial industry. One of the key factors contributing to Foresters Financials success is its financial stability. With over 140 years of financial strength and stability, Foresters Financial has built up substantial reserves well above the Canadian life insurer standard. This is reflected in its A (Excellent) rating from A.M. Best for the past 21 years.
Foresters Financial also offers unique member benefits that set it apart from other financial institutions. One such benefit is the Foresters Go Rewards Points, which can be redeemed for family events, providing added value to members’ lives. Additionally, Foresters recognizes the importance of incentivizing healthy behaviors and offers life insurance incentives for smokers through its Quit Smoking Incentive Plan.
By combining financial stability with member-focused benefits, Foresters Financial strives to make a positive impact on both its members and the community at large. Through initiatives like Women’s History Month celebrations and efforts to end period poverty, Foresters demonstrates its commitment to social responsibility and giving back. These achievements contribute to making Foresters Financial a trusted choice for individuals seeking life insurance coverage with a larger purpose.
Overall, Foresters Financials dedication to financial strength, innovative member benefits, and corporate social responsibility showcases its standing as an influential player in the financial industry.
Membership Benefits and Programs
Membership benefits at Foresters Financial provide individuals with valuable opportunities and resources to enhance their financial well-being and make a positive impact in their communities.
Through member engagement initiatives, Foresters encourages its members to actively participate in the organization’s decision-making processes and become leaders within the community. Members have the ability to elect leaders, contribute feedback on changes to the member benefit ecosystem, and organize volunteer events in their neighborhoods.
Foresters offers leadership development programs that empower members to develop their own leadership skills and drive meaningful change. By becoming a member leader, individuals can inspire real change both within Foresters and in the wider community. This allows them to have a direct influence on important decisions that shape the organization.
Additionally, Foresters provides various resources for community volunteering. Members are encouraged to organize volunteer events that align with their personal interests and values. These initiatives enable members to contribute positively to society while also fostering a sense of connection and fulfillment.
By offering these membership benefits and programs, Foresters Financial aims to create an engaged community of individuals who are committed to making a difference in their own lives as well as in the lives of others. Through active participation, leadership development, and community volunteering opportunities, members can harness their potential for personal growth while simultaneously contributing towards building stronger communities.
Community Involvement and Social Responsibility
Community involvement and social responsibility are integral pillars of Foresters Financials mission, as individuals actively participate in volunteer events, making a positive impact on their neighborhoods and fostering a sense of connection and fulfillment.
Foresters Financial emphasizes the importance of giving back to the community through various volunteer initiatives and philanthropic efforts.
Foresters Financial encourages its members to engage in community service activities by organizing volunteer events in their neighborhoods. These events provide opportunities for members to contribute their time and skills towards meaningful causes, such as environmental conservation, education programs, or supporting local charities. By participating in these activities, members not only make a difference in the lives of others but also experience personal growth and satisfaction.
Additionally, Foresters Financial is committed to supporting charitable organizations through its philanthropic efforts. The company actively donates to registered charities through its Charity Benefit provision which allows policyholders to designate a charity to receive a payment upon their death. This provision reinforces Foresters’ dedication to making a positive impact beyond the financial services it provides.
Through its community engagement initiatives, Foresters Financial strives to create strong connections between its members, employees, and the communities they serve. By fostering a culture of giving back, Foresters Financial aims to inspire individuals to take action and make meaningful contributions that improve the well-being of others while promoting social responsibility.
Frequently Asked Questions
What are the eligibility requirements to become a member of Foresters Financial?
To become a member of Foresters Financial, individuals must meet certain eligibility requirements.
By joining Foresters Financial, members gain access to various membership benefits, such as unique member benefits, the opportunity to participate in important elections, and the ability to organize volunteer events in their community.
The joining process may involve completing an application and meeting any additional criteria set by Foresters Financial.
Can non-members purchase life insurance products from Foresters Financial?
Yes, non-members can purchase life insurance products from Foresters Financial. However, eligibility requirements may vary depending on the specific product and coverage amount desired.
It is important to note that Foresters Financial offers various types of life insurance coverage, including whole life, critical illness, and term insurance. Additionally, Foresters Financial provides discounts for non-smokers, which can result in lower premiums for individuals who do not smoke.
How does Foresters Financial determine the amount of life insurance coverage needed?
Financial planning involves a thorough insurance coverage analysis to determine the appropriate amount of life insurance coverage needed. Various factors are considered in this process, such as income replacement needs, outstanding debts, future expenses (e.g., education costs), and financial goals.
By assessing these factors, individuals can calculate their coverage needs based on their specific circumstances and objectives. This ensures that they have sufficient protection for their loved ones in the event of an untimely death and helps provide financial security for the future.
Are there any restrictions or limitations on the use of Foresters Go Rewards Points?
There are certain limitations and restrictions on the use of Foresters Go Rewards Points. Members can redeem their points for various family events, but it is important to note that redemption options may be subject to availability and certain terms and conditions.
The rewards program provides an opportunity for members to earn points, but the specific limitations and restrictions on the use of these points can vary.
It is recommended for members to review the program guidelines and terms for a comprehensive understanding of the redemption options available.
Does Foresters Financial offer any discounts or incentives for non-smokers?
Foresters Financial offers a discount and incentive program for non-smokers. Specifically, their Advantage Plus Whole Life Insurance plan includes the Quit Smoking Incentive Plan, which provides a 2-year premium reduction for smokers who quit smoking.
This serves as an incentive for individuals to maintain a healthy lifestyle and reduce their risk of tobacco-related illnesses. By offering this discount, Foresters Financial encourages non-smokers to take advantage of their life insurance coverage while promoting overall well-being.
1660 Tech Avenue, Suite 3,
Mississauga, Ontario, Canada
L4W 5S8
Toll Free: 1-800-267-8777
Phone: 905-219-8000
Web Address: www.foresters.com
Email: service@foresters.com