Foresters Financial Launches Three New Non-Participating Whole Life Products in Canada

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Toronto, ON (Dec. 14 2016) – Foresters Financial™, an international financial services provider, has launched three new non-participating whole life products(1): Non-Par Whole Life, Simplified Non-Par Whole Life and Child Non-Par Whole Life. The launch is part of an ambitious new strategy to significantly grow Foresters’ product portfolio in Canada over the next decade.

“There’s a great energy and anticipation around the organization’s future,” said Rob Baboth, Vice President of Sales, Foresters Financial Canada. “We are committed to providing our distribution partners with competitively priced products to help them meet the protection needs of Canadian families. And the Foresters member benefits gives clients so much more – it’s a winning combination that is unique in the Canadian marketplace.”

These new permanent products were designed to appeal to the family market with competitive premiums, guaranteed cash values(2) and valuable built-in features.

  • Non-Par Whole Life: offers flexible options including Joint First-to-die or Joint Last-to-die and up to $5,000,000 of affordable permanent protection with preferred underwriting for coverage above $250,000.
  • Simplified Non-Par Whole Life: provides up to $100,000 of reliable, permanent coverage with no medical exams required.
  • Child Non-Par Whole Life: offers affordable coverage today that can help protect the child’s future insurability and provides guaranteed cash value that they can access later in life.

All three products include $1,000 in bereavement assistance for the beneficiaries. Non-Par Whole Life and Simplified Non-Par Whole Life come with Advance Medical’s Expert Medical Opinion Program,(3) an authoritative second opinion on medical issues from some of the world’s leading experts. Child Non-Par Whole Life has a built-in feature that waives the premium if the owner dies in an accident.(4)

In addition to these valuable features, insured clients will be Foresters members and have access to Foresters Member Benefits(5) for the primary insured and their immediate family members. These benefits, many of which are complimentary, currently include competitive academic scholarships, financial counseling and discounted legal services.

Foresters new non-participating whole life products are available as of December 12, 2016.

About Foresters Financial

Foresters Financial is an international financial services provider with more than three million clients and members in Canada, the United States and the United Kingdom. We provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals and make a lasting difference in their lives and communities. In Canada, products are offered by The Independent Order of Foresters and its subsidiary Foresters Life Insurance Company. Investment products are offered by Foresters Asset Management Inc.

Foresters Financial has assets of almost $14 billion, total funds under management of almost $34 billion and a surplus of $2.3 billion (all figures in Canadian dollars as of December 31, 2015). For more information, visit foresters.com.

Foresters Financial and Foresters are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9) and its subsidiaries.

Notes

1. Underwritten by Foresters Life Insurance Company (“Foresters”).

2. Cash values are guaranteed provided the policy remains in effect and no material change is made to the policy.

3. 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 benefit is not part of the policy.

4. All policy benefits are subject to terms and conditions set out in the Policy. Please read your policy documents carefully and contact Foresters if you have any questions.

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