Foresters launches Advantage Plus whole life product

Toronto, ON (Jan. 26, 2015) – Foresters has launched a new, fully underwritten, participating whole life product in Canada: Advantage Plus.(1) The new product is designed to cover a broad range of protection needs and has several unique features that will appeal to consumers who have or are planning to have children. Foresters is an international financial services organization which champions family well-being through quality life insurance and investment products, unique member benefits and inspiring community activities.

“At Foresters, we’re committed to providing flexible products that answer the needs of today’s families and are also valued by our business partners,” says Hendrik Verdurmen, Vice President, Product Development, North America Life Insurance, Foresters. “Advantage Plus offers solid protection as well as some offerings that are not generally available in Canadian products.”

Advantage Plus has features that can help Canadians plan for every stage of life including convenient pay periods, dividend options, and built-in children’s term insurance.

Product features include:

  • Term Riders of 10, 20 and 30 years plus Spousal Term Riders of 10, 20 and 30 years.
  • Built-in Children’s Insurance Benefit – for insured persons between 18 and 55, Advantage Plus includes $3,000 of convertible term life insurance for the insured person’s children with an overall conversion amount of $10,000.
  • Juvenile Guaranteed Insurance Benefit which provides the right to purchase new insurance for the insured person on certain option dates, without evidence of insurability, if the insured person is younger than 18 on the certificate’s issue date.
  • Quit Smoking Incentive Plan – if the insured person is classified as a Smoker, and is at least 16 years old on the certificate issue date, we will charge Non-Smoker premiums for the first two certificate years.
  • Access to Advance Medical’s Expert Medical Opinion Program(2) which can provide expert advice to certificate holders and their families upon request.

People insured under Advantage Plus also get to enjoy Foresters membership and have access to Foresters Member Benefits(3) for the primary insured and their immediate family members. These benefits currently include competitive academic scholarships, financial counseling and discounted legal services.

As part of its portfolio review, Foresters is withdrawing its FamilyLife product today.

About Foresters

For 140 years, Foresters, an international financial services provider, has fulfilled its purpose to enhance family well-being for its members and the communities where they live. A fraternal benefit society, Foresters offers quality life insurance and investment products, unique member benefits and inspiring community activities. Foresters shares its financial strength with more than one million members in Canada, the United States and the United Kingdom. Foresters has assets of $10.5 billion, total funds under management of $25 billion and a surplus of $1.7 billion (all figures in Canadian dollars as of December 31, 2013) and maintains an “A” (Excellent) rating by A.M. Best. Foresters subsidiary Foresters Life Insurance Company’s rating is “A-” and First Investors Life Insurance Company, also a Foresters subsidiary, received an “A-” rating. For more information, visit

Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.


1. Underwritten by The Independent Order of Foresters.

2. This Program is provided solely by Advance Medical, Inc., subject to eligibility requirements and limitations and may be changed or cancelled at any time without notice. This program is not part of the certificate and is not a Foresters member benefit.

3. Foresters member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or canceled without notice.

An “A” (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning the ratings for The Independent Order of Foresters (Foresters) and its subsidiaries Foresters Life Insurance Company and First Investors Life Insurance Company on July 2, 2014, A.M. Best stated that the outlook for all ratings is “stable”, which means they are unlikely to change in the near future. See for the latest ratings.

SOURCE: Foresters