Last Updated: February 3rd, 2026
Foresters Financial is a fraternal life insurance company with over 150 years of history and an A (Excellent) AM Best rating held for 25 consecutive years. They offer term, whole life, and universal life insurance with unique member benefits like scholarships and community grants. Coverage is available in all U.S. states except New York.
Foresters Financial stands out in the life insurance industry for one big reason: they’re not just selling policies. As a fraternal benefit society, they reinvest profits into member benefits and community programs. This approach has helped them build a loyal following since 1874.
But is Foresters the right choice for your life insurance needs? This review covers their financial strength, product options, member perks, and what to watch out for before you buy.
About Foresters Financial
Foresters Financial (officially The Independent Order of Foresters) started as a British fraternal society in 1874. They provided life insurance and medical assistance to members long before modern insurance companies existed.
Today, Foresters is headquartered in Toronto, Canada and operates across the United States, Canada, and United Kingdom. They manage $12.9 billion in total assets with a $1.5 billion surplus. More than 2.4 million certificates and contracts are currently in force.
In September 2024, Foresters became Allstate’s fourth exclusive life insurance partner. This partnership expanded their distribution reach significantly.
Important: Foresters policies are available in all U.S. states except New York.
Foresters Financial Ratings
Financial ratings help you understand if a company can pay claims when it matters most. Foresters has strong marks across the board.
AM Best: A (Excellent)
Foresters has maintained this rating for 25 consecutive years. It reflects their strong ability to meet policyholder obligations and indicates solid balance sheet strength.
BBB: A+
The Better Business Bureau rates Foresters highly for their business practices and complaint handling. They’re responsive to customer concerns.
DBRS Morningstar: A
This Canadian rating agency confirmed Foresters’ financial strength with a stable outlook in 2025.
These ratings put Foresters in good company with larger insurers despite being a smaller, member-focused organization.
Life Insurance Products
Foresters offers seven life insurance products across three categories. Most don’t require a medical exam, though taking one could lower your rates or increase coverage limits.
Term Life Insurance
Foresters has three term life options for temporary coverage needs.
Your Term
This is their flagship term product with coverage periods of 10, 15, 20, 25, or 30 years. Premiums stay level throughout the term. Coverage starts at $50,000 and is available to applicants ages 18-80. You can convert to permanent coverage without a new health exam.
Strong Foundation
A simplified issue term policy with no medical exam, no fluids, and no health interview required. Good for applicants who want fast approval.
Children’s Term Rider
Provides term coverage for children ages 15 days to 25 years. Coverage ranges from $10,000 to $25,000 per child. Each child can convert to permanent coverage later without proving insurability.
Whole Life Insurance
Foresters offers three whole life products for permanent coverage with cash value.
PlanRight (Final Expense)
Designed specifically for end-of-life costs like funeral services and burial expenses. Face values range from $10,000 to $35,000. Available to applicants ages 50-85. Learn more about final expense insurance options.
Advantage Plus
Their standard participating whole life policy. Coverage ranges from $25,000 to $500,000 for ages 18-85. This policy builds cash value you can borrow against, and you may receive dividends.
Foresters Live Well Plus
Launched in July 2025, this new participating whole life product focuses on wellness benefits alongside traditional coverage.
Universal Life Insurance
Smart UL
A flexible permanent policy with adjustable premiums and a ten-year coverage guarantee. Foresters guarantees a minimum 2% cash value growth rate annually. Available for ages 18-80 with face values starting at $10,000. Medical exams aren’t required unless you’re over 75.
Member Benefits
Here’s where Foresters truly differs from traditional insurers. Every policyholder becomes a member with access to exclusive benefits.
Competitive Scholarships
Foresters awards scholarships worth up to $2,000 to help members and their families pursue education. Hundreds of scholarships are given each year.
Foresters Care Grants
Members can apply for grants to fund community volunteer projects. This lets you give back to causes you care about.
Member Discounts
Access to savings on hotels, attractions, gift cards, online shopping, and more through the Foresters member portal.
LawAssure Legal Services
Discounted legal help for wills, estate planning, and other common legal needs.
Lifelong Learning
An online library with courses and resources for personal development.
Terminal Illness Benefit
If diagnosed with a terminal illness, you may access up to 75% of your policy’s face value early to cover medical expenses.
These benefits come at no extra cost with your policy. They’re funded by Foresters’ fraternal structure, not by charging you more.
Available Riders
Riders let you customize your coverage. Foresters offers these options (availability varies by product and state):
- Accidental Death Benefit: Pays an additional benefit if death results from an accident
- Accelerated Death Benefit: Access part of your death benefit early if diagnosed with a terminal illness (not available in California or Connecticut, or for policies under $25,000)
- Child Rider: Add coverage for your children
- Critical Illness Benefit: Receive funds upon diagnosis of a covered serious illness
- Disability Income Benefit: Monthly income if you become totally disabled
- Guaranteed Insurability: Buy more coverage later without proving good health
- Spouse Rider: Add coverage for your spouse
- Waiver of Premium: Premiums are waived if you become disabled
Riders must typically be added when you first purchase your policy. Discuss options with your agent before finalizing coverage.
How to Apply
Foresters doesn’t offer online quotes or applications. You’ll need to work with a licensed agent or contact them directly.
Phone: 800-828-1540 (Monday-Friday, 9am-5pm ET)
Email: service@foresters.com
Mail: Foresters Financial, P.O. Box 179, Buffalo, NY 14201
The application process depends on your coverage amount and health profile. Many policies use simplified underwriting with no medical exam required. For higher face amounts, traditional underwriting with a medical exam may be necessary.
Expect the process to take four to six weeks. Some applicants qualify for expedited underwriting, which speeds up approval.
Pros and Cons
Pros
- Strong financial ratings: 25 consecutive years of A (Excellent) from AM Best demonstrates stability
- Unique member benefits: Scholarships, community grants, and discounts come with every policy
- No-exam options: Most products don’t require a medical exam
- Flexible coverage: Seven products across term, whole life, and universal life categories
- Fraternal structure: Profits go back to members and communities, not shareholders
Cons
- No online quoting: You must call or email for quotes, which adds friction
- Limited customer service hours: Only available weekdays 9am-5pm ET
- Not available in New York: Residents of New York can’t purchase Foresters policies
- Claims processing concerns: Some customers report slower-than-expected claim payments
- Smaller company: Less brand recognition than major insurers
Frequently Asked Questions
What is Foresters Financial’s AM Best rating?
Foresters holds an A (Excellent) rating from AM Best, maintained for 25 consecutive years. This indicates strong financial health and claims-paying ability.
Does Foresters require a medical exam?
Most Foresters products don’t require a medical exam. You may take one voluntarily to qualify for lower rates or higher coverage amounts. For universal life, exams are required only for applicants over 75.
Is Foresters life insurance available in all states?
Foresters offers coverage in all U.S. states except New York. If you live in New York, you’ll need to look at other carriers.
What makes Foresters different from other life insurance companies?
Foresters is a fraternal benefit society, not a traditional stock company. This means profits are reinvested into member benefits like scholarships, community grants, and discounts rather than paid to shareholders.
How do I get a quote from Foresters?
Contact Foresters directly at 800-828-1540 or email service@foresters.com. They don’t offer online quoting, so you’ll need to speak with an agent.
Key Takeaways
- Foresters Financial has maintained an A (Excellent) AM Best rating for 25 years
- They offer 7 life insurance products: 3 term, 3 whole life, and 1 universal life
- Most policies don’t require a medical exam
- Unique member benefits include scholarships, community grants, and discounts
- Coverage is available in all states except New York
- No online quotes available, must contact directly at 800-828-1540
Ready to explore your life insurance options? Use our free quote tool to compare rates from top-rated carriers.
