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Searching Through Foresters Life Insurance Reviews? We’ve Got All The Info You Need!

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Foresters Life Insurance Canada Reviews

Checking Out Foresters Life Insurance Canada Reviews?

We Have All You Need to Know

Are you looking for information about Foresters Life Insurance Canada? Well, then my hat’s off to you.

Congratulations on being proactive about the financial security of your loved ones!

Unfortunately, I think a lot of people take their income for granted. What would happen if one day it was turned off like a tap never to return because of a tragic death?

The thing is we die. It’s not one of those palatable topics, that being said it happens to all of us.

A certain amount of denial is required to get on with things…

….BUT if tragedy strikes it’s pretty earthshattering. Would your family be able to continue to pay the bills? Chances are not. That’s where life insurance protection comes in.

Unfortunately, there is a LOT of information out there – and I want to help you wade through it. So let’s take a closer look at Foresters Life Insurance to see how they stack up.

Dying is not just an event that happens to us at the close of our lives. It is our purpose for being. We begin to die the very day we are born and live all our life towards death. Sure, we may get sick as we age, but we can get sick at any stage of life. Illness and aging need not go hand in hand. If you take good care of your body in the “morning”, it will take good care of you in the “evening” of your life.

 

How and Why We Age, Charleston Chronicle

My Name Is James Heidebrecht & I'm The Founder of Policy Architects 

You may be wondering who I am and why the heck you should listen to my thoughts. My name is James Heidebrecht, the founder of Policy Architects. This is a second career for me and I love it!

Helping clients throughout Canada find the RIGHT coverage for the people they love is a pretty satisfying job. I have two kids and a wife…

….not to mention the fact that I am an older father, so I get it. You want protection that won’t break the bank AND don’t want to compromise on the quality of that coverage. Well, I am happy to say both goals can be achieved.

Life insurance is a complicated business. Each insurer offers unique products AND approaches assessing the risk of potential clients (underwriting) differently.

Top this off with a thriving market that includes a lot of companies and there’s lots of room for confusion.

My goal for creating this blog is to simplify things and give you some seriously GOOD information before you speak to an agent. I am a firm believer that the key to savings is doing your homework.

So let’s get on with the show!

Foresters Life Insurance Questions

I want to believe you - really I do - but let's face it you are a salesperson. 

Foresters Life Insurance Answers

Sure I am - that's obvious! BUT I give you the same advice I give my family members. This is the benefit of dealing with a small boutique agency. For us you're a client for life.  


Foresters Life Insurance Canada

Foresters Life Insurance History

Foresters Life Insurance Questions

I'm confused. Why are we talking about the history of Foresters Life Insurance Canada. What does that matter? 

Foresters Life Insurance Answers

Because life insurance is a long term investment. You should find out as much as you can about the company covering you. If an insurer has a long an illustrious history you can bet it's run pretty well.  

Foresters has a very LONG history. Founded in 1874 this company’s goal was to provide affordable life insurance to working families.

The interest in public welfare was furthered by one of their first leaders Dr. Oronhyatekha, a native doctor who incorporated Western medicine in his practice.

Dr. Oronhyatekha was a champion of rights for women, children, and minorities. The result? Foresters admitted women to their organization and offered benefits to orphaned children of policyholders.

Foresters is a large international company with over 3 million clients and members in Canada, the US and the UK.

It’s a diversified company that provides the following services:

  • Life Insurance
  • Savings, Retirement & Investment Solutions

Foresters Life Insurance Canada

Foresters Life Insurance Canada Ratings

Foresters Life Insurance Questions

Great - well I like the fact that they have a heart AND a long standing reputation! 

Foresters Life Insurance Answers

Well that's not all! We should take a closer look at their financial rating!  


Did you know that life insurance is a highly regulated business? Yes, it is. Thankfully for consumers, there are organizations that grade the performance of insurers – which saves you and me a lot of leg work.

These grades give you an idea of how much confidence rating agencies have in the company being reviewed.

The good news is AM Best has given Forester’s an A rating for the past 19 years which says a lot about their stability.

If you select Foresters for your life insurance needs you can sleep well knowing your investment is safe. 

Foresters Life Insurance Canada

Foresters Life Insurance Reviews (Online)

Ugh, online life insurance reviews are one of those things that throw a spanner in the works. I find them unpredictable at best and at worst downright deceiving.

Sadly life insurance companies get the short end of the stick when it comes to online reviews. Don’t get me wrong. In no way am I disparaging honest reviews and they are absolutely out there.

BUT it’s a complicated situation. Poor reviews fall into a couple of different categories:

  • People who are legitimately annoyed because they’ve received poor customer service.
  • Policyholders that lodge complaints in the wrong division. Many life insurance companies carry a variety of products. Auto insurance complaints are not indicative of the quality of service you may receive for life insurance, etc. Be sure to take time to read the reviews.
  • Bad advice from an agent. It’s possible a client was sold an inappropriate product or possibly didn’t answer questions properly. This can cause a lot of problems and may even result in the denial of benefits. Another reason to use an independent agent.
  • Stress. Let’s face it making a claim is super stressful and chances are you have much less patience than you would in normal circumstances.
  • Lack of understanding of the life insurance process. Some clients don’t fully understand their policies or the claim process. When things don’t unfold how they think they should, the situation gets heated.
  • Trolls that like to complain (some may never even have even dealt with the company) – and yes this happens. It’s one of the drawbacks of anonymity.

All of this results in bad reviews for life insurance companies across the board - deserved or not! 

Which makes it a lot more difficult to rely on these reviews. In my humble opinion, you should definitely check out these reviews, but make sure you balance them with the issues I mentioned above.

So let’s see what people have to say about Forester’s RIGHT NOW!

Foresters Life Insurance Canada: Google Reviews 

Foresters Life Insurance Canada Google Review

Well unlike some of the other life insurance companies Foresters Financial has a number of reviews. Some companies choose to opt-out of their Google Reviews. I am not sure how that’s done – but they manage it.

When it comes to online reviews Foresters has 3.3 out of 5 stars which very good compared with other carriers. Lol, this gives you an idea of what sort of bar we are dealing with.

After I read the reviews it seems like most of the glowing reviews have no information – which leaves me with a little bit of a bad taste. Hard to really give them a lot of credence.

The OTHER reviews are pretty bad. It’s hard to tell exactly what products people are talking about, but there are some very specific life insurance complaints.

They all seem to center around seemingly unscrupulous agents selling inappropriate products to people…

…there is one complaint where the agent failed to get the beneficiaries named on two policies. Sigh!

Call Policy Architects and you will never have to worry about problems like these.

Foresters Financial Reviews: Insureye 

Foresters Life Insurance Canada Insureye Reviews

Insureye pretty much echos the reviews on Google. They give Foresters Life Insurance Canada 3 stars out of 5.

The interesting thing is they received some great comments…

…with the exception of dealing with agents or obtaining good customer service.

I don’t know how much more clear I can make this. It’s important to deal with someone who views you as a person. Call center agents and tied agents often just see clients as numbers.

The difference in service is like night and day when you employ an agent that is building a book of business.

All in all the Foresters Life Insurance reviews are pretty good comparatively speaking.

So if you’re still wondering — “Should I trust online reviews?” the answer is no. You should not trust online reviews — at least not all of them. If you don’t have the time to verify a review through a service like Fakespot, there are other ways to tell if product review is legit.

This Is Why You Should Not Trust Online Reviews, Forbes 

Foresters Life Insurance Canada

Foresters Life Insurance Products

Foresters Life Insurance Questions

Well I'd love to hear a little bit more about Foresters Life Insurance products. 

Foresters Life Insurance Answers

YES! This is my favourite part of the review process. There are so many different approaches to life insurance coverage. Let's see what Foresters Life Insurance Canada has to offer.  


Foresters Term Life Insurance 

Term life insurance is what most people think of when they talk about life insurance. For the most part, it’s protection to replace your income should you die suddenly.

In simple terms you select the:

  • period of time you feel you’ll be most vulnerable and want to be covered which is typically 10, 20 or 30 years. This is called the “Term”
  • amount of coverage you need to keep your family comfortable if your income suddenly evaporates. This is called the “Face Value”.

After these details are settled you typically get a medical exam and answer some health and lifestyle questions.

All of this information is sent to the “Underwriters” or the people who assess this information to come up with your monthly payment or “Premiums”.

Foresters has the following products:

10 Year Term Life Insurance

Not everyone needs long term life insurance coverage. For those of you that have very specific short term needs 10 year may fit the bill perfectly…

….and it will save you money!

Foresters policies have the following features: 

  • For people who select more than $500K of coverage, you may be eligible for a preferred life insurance class if you’re in fantasic shape. Saving you some money on your premiums.
  • Joint Term Coverage is available
  • Conversion to Permanent coverage with no medical exam before your 71st birthday
  • Exchange for another longer term policy on or after 2nd policy anniversay without a medical exam
  • Charity benefit: Forester’s donates up to 1% (max $100K) of the benefits to a charity you choose.
  • Bereaevement Assitance: Gives beneficiaries up tp $1K for death counseling

Riders Available: 

  • Accidental benefit
  • Waiver of premium
  • Childrens rider
  • Term Riders

20 Year Term Life Insurance

For those of you looking for longer term coverage 20 year term is a good middle ground. For many families it covers the years they are most vulnerable.

After 20 years pass, children are grown and out of the house – plus it’s less expensive than a 30 year term. 

Foresters policies have the features: 

  • For people who select more than $500K of coverage, you may be eligible for a preferred life insurance class if you’re in fantasic shape. This saves you money on your premiums.
  • Joint Term Coverage is available
  • Conversion to Permanent coverage with no medical exam before your 71st birthday
  • Exchange for another longer term policy on or after 2nd policy anniversay without a medical exam
  • Charity benefit: Forester’s donates up to 1% (max $100K) of the benefits to a charity you choose.
  • Bereaevement Assitance: Gives beneficiaries up tp $1K for death counseling

Riders Available: 

  • Accidental benefit
  • Waiver of premium
  • Childrens rider
  • Term Riders

30 Year Term Life Insurance

30 year term is the gold standard. Lock in reasonable rates when you are young and healthy! 

The wonderful part about 30 year term is it covers your loved ones until they are solidly independent. Afterall many families help their kids with university and mortgages.

Foresters policies have the features: 

  • For people who select more than $500K of coverage, you may be eligible for a preferred life insurance class if you’re in fantasic shape. This saves you money on your premiums.
  • Joint Term Coverage is available
  • Conversion to Permanent coverage with no medical exam before your 71st birthday
  • Exchange for another longer term policy on or after 2nd policy anniversay without a medical exam
  • Charity benefit: Forester’s donates up to 1% (max $100K) of the benefits to a charity you choose.
  • Bereaevement Assitance: Gives beneficiaries up tp $1K for death counseling

Riders Available: 

Foresters Permanent Insurance

Permanent life insurance is for those of you who want coverage until the day you die.

It’s the same as term in that you select a face value and term (often 10 or 20 years or until you die).  For the most part, a medical exam is required (although you can get no medical exam coverage).

The main difference besides a guaranteed payout for your beneficiary is the cash value accumulation feature which can be invested, borrowed against, used to pay premiums or more coverage or simply left to your beneficiary.

It’s a super complicated product and there are a lot of different types of permanent coverage. It’s also MUCH more expensive than term insurance.

Foresters only has one product:

If you are in the market for term life insurance be sure to consult a good independent life insurance agent because this product is NOT for everyone.

Advantage Plus Whole Life Insurance 

This is a participating product, which means you have the opportunity to earn dividends. These dividends are not guaranteed and can be used:

  • by you if you choose to have them distributed as cash
  • to buy additional coverage
  • to leave on deposit which means the money will gain interest
  • by you to pay your premiums

Benefits of this policy include:

  • Option to pay up policy in 10 or 20 years
  • Dividends
  • Charity benefit provision: Forsters will pay up to a max $100K an additional 1% of the basic face value to a charity of your choice.
  • Childrens benefit: $3K of term insurance for each insurance child until age 25. A conversion option to permanent is available at specific times and an additional $7K may be purchased without a medical exam.
  • Juvenile Guaranteed Insurability: If the insured child is under 18 years of age when the policy is purchased, they can buy additional coverage without a medical exam on specific dates.
  • Quit Smoking Incentive Plan: If you’re classified as a smoker and are 16 years of age or older they will give you nonsmoking rates for 2 years. At the end of this period if you can submit evidence you quit these premiums continue.
  • Expert Medical Opinion Program: This provides an authoritative 2nd opinion for a diagnosis with a leading expert. It includes the insured’s spouse (domestic partner) and children up to age 18.
Additional Riders 
  • Additional coverage/cash value purchase option
  • Term 10, 20 and 30 riders to give you additional protection
  • Childrens Term Insurance Rider
  • Accidental Death Rider
  • Guarantee Insurability Rider
  • Waiver of Premium Rider

Foresters Critical Illness Insurance 

Critical Illness Insurance is becoming more popular with medical advances. You have a good chance of being diagnosed with a critical illness in your lifetime, but chances are you will live.

The issue that evades a lot of people is…

…how will your family subsist if you are unable to pay these bills while you are recovering? This is where critical illness insurance comes in.

You  buy coverage to protect you from just this sort of situation. Let’s see what Foresters has to offer now!

Foresters LifeCare Critical Illness Insurance 

There are two types of LifeCare coverage: 

  • LifeCare T10: 10 years of protection and renewable to age 75, you can convert this policy to T75 after 6th anniversary up to age 65. 
  • LifeCare T75: If you want ongoing protection until age 75 

Benefits include: 

  • Coverage for: Life-threatening cancer, Heart attack, Stroke, Coronary artery bypass surgery, Kidney Failure, Major organ transplant, Aortic Surgery, Heart valve replacement, Blindness, Deafness, Paralysis, Multiple Sclerosis, Burns, Coma, Loss of speech, Loss of limbs, Motor Neuron Disease, Alzheimer’s Disease, Parkinson’s Disease, Occupational HIV Infection, Loss of independent existence as defined and specified in the policy
  • Return of Premiums on Death 
  • Expert Medical Opinion Program 

Riders Include: 

  • Disability Waiver
  • Return of Premium Rider
  • Juvenile LifeCare Rider
Foresters Life Insurance Canada Questions

Hmm not a lot on offer. 

Foresters Life Insurance Canada Answers

Nope they have a very simple offering. If you are looking for more choice this may not be the insurer for you. 

Foresters Life Insurance Canada

Foresters Life Insurance Rates

Basic rates are the section most people look for in a review. 

They want to know how much they have to spend monthly. Luckily most people are thrilled to see how affordable life insurance really is.

BUT that doesn’t mean they don’t want to save as much cash as possible. Please remember these rates are only an estimate. No agent can give you an exact figure because you have to qualify for the rates quoted.

For the purpose of this article, I am using a standard rate because this is what most people get. Sure you can do better or worse, but this gives you an idea of the cost of Foresters Term Life Insurance for nonsmoking men and women throughout the decades.

Policy Architects
Age$250,000$500,000
35 Year Old Male$19.58$34.65
35 Year Old Female$15.30$25.20
40 Year Old Male$27.45$49.95
40 Year Old Female$20.93$36.45
45 Year Old Male$42.53$80.10
45 Year Old Female$30.60$56.25
50 Year Old Male$70.20$135.45
50 Year Old Female$48.15$91.80
55 Year Old Male$131.40$257.87
55 Year Old Female$87.98$171.00
60 Year Old Male$242.33$479.25
60 Year Old Female$163.58$321.30
65 Year Old Male$483.98 $962.10
65 Year Old Female$331.20 $656.55

*Quotes above are for Foresters Term 20, monthly, Standard Health Class, non-smoker. Your rates may differ depending on your unique circumstances. December 2019.

*NOTE If you’re 60 or above, you’re not eligible for Humania Assurance’s Term 20 product. However, you can still purchase a term 10 or term 15 policy.

Foresters Life Insurance Canada

Foresters Life Insurance Pros

Foresters Life Insurance Canada Pros

Foresters Life Insurance Canada Has a LONG History 

Forester Life Insurance Canada has a long and solid history. If longevity means something to you Foresters is the way to go. 

Foresters Life Insurance Canada Pros

Awesome Ratings 

For 19 years Foresters Life Insurance Canada received an A rating from AM Best. Now that’s sweet! Year after year they are honored for their performance.

Foresters Life Insurance Canada Pros

Decent Online Reviews 

This is a solid thumbs up for Foresters Life Insurance Canada. They have some of the best online numbers we have seen thus far – generally, insurance companies do poorly when it comes to Google reviews. 

They get 3.3 stars out of 5 for Google and 3 stars out of 5 on in Insureye. There are some legitimate complaints about customer service some agent behavior so buyer beware.

Foresters Life Insurance Canada Pros

Affordable Rates 

Foresters Life Insurance Canada Rates are pretty competitive.  Don’t get me wrong, however. You should definitely give us a call because we may be able to do better.

Foresters Life Insurance Canada Pros

Strong, Fraternal Benefit Society Heritage

When you take out a Foresters Life Insurance Policy, you automatically become a member of The Independent Order Of Foresters. Membership includes benefits such as academic and orphan scholarships, financial advice and discounted legal services.  

In 2018, across the US, Canada and the UK, Foresters:

  • Awarded $2.4 million in competitive scholarships
  • Awarded $5 million in community grants initiatives
  • Contributed $1.7 million in disaster relief assistance to members
  • Built playgrounds providing 5.3 million children and families with a safe place to play
Foresters Life Insurance Canada

Foresters Life Insurance Cons

Foresters Life Insurance Canada Cons

Very Limited Products 

Sure they have the basics, whole life insurance, term, and critical illness coverage…

…but their products are very limited. If you are looking for more selection this is not the company for you!

Foresters Life Insurance Canada

Why You Need to Call Policy Architects TODAY! 

If you are scanning the internet for Foresters Life Insurance Canada…

…we’ve got you covered!

Forester is clearly a good life insurance company. They have a long-standing history and a very positive rating that they’ve managed to maintain for nearly 20 years.

The thing is, there may be a better fit for you. Not all life insurance companies are created equal. Some are more lenient than others for specific medical conditions.

Policy Architects works with the best life insurance companies in Canada. We’ll help you find the carrier that will view you in the best light, guaranteed. This may translate into saving of THOUSANDS of dollars over your term. Give us a call – the advice is free and there’s no obligation.

James Heidebrecht Foresters Life Insurance

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