Foresters Passport offers flexibility for changing life needs
MISSISSAUGA, ON, April 21, 2008 – Unity Life of Canada, a Foresters Company, expands its product portfolio with the addition of Forester Passport Universal Life (UL). This universal life product complements Unity Life’s competitive term and solid permanent products and is available to Canadians nationwide through its extensive brokerage distribution network.
“Forester Passport Universal Life is designed specifically to meet the needs of the middle market,” said Rob Baboth, Unity Life’s Vice President, Sales and Marketing. “Unity Life is known for its straightforward approach to insurance products and Forester Passport is also easy to understand and explain to consumers. We are certain potential clients who are looking for both life insurance and an investment account will find our product’s flexibility and many guaranteed features quite appealing.”
Underwritten by Foresters(TM), Passport UL offers flexibility in premium, investments, death benefit, cost of insurance and rider options to suit client needs. Forester Passport is available as a conversion product from Unity Life’s term portfolio of products. Certificateholders covered under this product may be eligible for additional complimentary life, health and education benefits from Foresters.
About Unity Life
Unity Life of Canada is a Canadian incorporated life insurance company, which provides financial security to Canadians through innovative life insurance products and services. The company originated in 1898 as the Insurance Department of the Subsidiary High Court of the Ancient Order of Foresters. Incorporated as a mutual company in 1934, it changed its name to Toronto Mutual Life Insurance Company. In 2002, it amalgamated with its subsidiary, The Western Life Assurance Company, and became Unity Life of Canada. On April 2, 2008, Unity Life was converted from a mutual life insurance company to a stock life insurance company owned by Foresters. Based in Mississauga Ontario, Unity Life currently has more than 192,000 active policies and certificates, $13.8 billion of insurance in force, and $562 million in assets (all figures in Canadian dollars as at December 31, 2007). Unity Life has been assigned an “A-” (Excellent) rating by A.M. Best Company(*). Unity Life’s Web address is www.unitylife.ca.
Founded in 1874 as a fraternal benefit society, Foresters(TM) helps individuals and families achieve financial security with its innovative portfolio of life insurance products and annuities. Foresters has assets of more than $5.4 billion with liabilities of $4.0 billion resulting in a surplus of $1.4 billion (all figures in Canadian dollars as of December 31, 2007) and maintains an “A” (Excellent) rating by A.M. Best(*). Foresters shares its financial strength with its members, who are customers, through complimentary life, health and education benefits that help its more than 735,000 eligible members and their families in Canada, the United States and the United Kingdom. Foresters provides opportunities that inspire its members to make a difference in their communities. Foresters Equity Services, Inc.(xx) is a wholly owned subsidiary of Foresters that offers investment products in the United States. For more information, please visit www.foresters.com.
Foresters(TM) is a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9. .Tags: outlook, report, Valen Analytics