Foresters Financial Life Insurance Review

Company overview and ratings

Foresters is a fraternal benefit society, not a stock company. Its legal name is The Independent Order of Foresters, it was founded in 1874, and it is based in Toronto. It serves about 2.3 million clients and members in Canada, the US and the UK, and its US business operates as a branch.

AM Best rates Foresters A (Excellent) with a stable outlook, affirmed October 10, 2025. Policyholders become members, which gives access to extra benefits described below.

PlanRight final expense

PlanRight is Foresters’ simplified issue final expense policy, with three plans set by your health answers. Preferred and Standard pay the full benefit from day one for issue ages 50 to 85. Preferred reaches $35,000 through age 80; Standard reaches $20,000.

The Basic plan is for applicants with more serious health history, issue ages 50 to 80, up to $15,000. If death from illness happens in the first two years, it returns premiums plus 10% annual interest. Accidental death pays in full from day one, and the full benefit applies to all causes from year three.

Some health answers make an applicant ineligible for any plan. In that case a guaranteed issue policy from another carrier may be the remaining option. Total PlanRight coverage on one person is capped at $35,000.

How PlanRight underwriting works

PlanRight gives a decision at the point of sale through Foresters’ LiveApp. It checks MIB records, a prescription and medical data report, a height and weight chart, and your answers. There is no exam, blood or saliva test.

The agent must interview the applicant; internet and mail sales are not allowed. A funeral home cannot be named as beneficiary. PlanRight is not offered in Oregon.

Term and whole life

Strong Foundation is a non-medical term policy for ages 18 to 80, from $50,000 to $500,000, with 10 to 30-year terms. Foresters says people with diabetes or mild COPD may still qualify. Chronic, critical and terminal illness benefits are included at no extra premium, and it converts without new underwriting.

Your Term offers the same terms with fully underwritten options from $100,000. Advantage Plus II is participating whole life from $25,000 for ages 0 to 85, with non-medical underwriting available to age 75. Dividends are not guaranteed. See our term life and whole life guides.

Strong Foundation and Your Term include a charity benefit that pays 1% of the face amount, up to $100,000, to a charity you choose. Optional riders add waiver of premium, accidental death and children’s term coverage.

Member benefits

Foresters members can use benefits that most insurers do not offer, but they are not part of the contract and can change. Examples include an orphan benefit and scholarship and online will preparation. There is also an interest-free terminal illness loan of up to 75% of face, not offered in Illinois or New York. Several require an in-force certificate of $10,000 or more.

Who Foresters fits

Foresters suits adults 50 to 85 who want day-one final expense coverage up to $35,000 and like the idea of member benefits. The required agent interview also suits people who prefer to talk through each question.

Its Basic plan fits people with more serious recent health history who still want some return if they die early. Premiums are refunded with 10% interest in the first two years.

Strong Foundation fits younger and middle-aged buyers with diabetes or mild COPD who want term coverage without an exam. Buyers who need more than $35,000 of final expense coverage should look elsewhere.

Pros, cons and buying through an agent

Pros: day-one coverage on two of three PlanRight plans to age 85; Basic plan refunds premiums plus 10% interest rather than nothing; non-medical term to $500,000 that considers diabetes and mild COPD; member benefits. Cons: an A rating rather than A+; Preferred maximum drops to $15,000 after age 80; Basic tops out at $15,000; not in Oregon.

Foresters sells through agents and agencies, and PlanRight requires an agent interview. An independent agent can compare PlanRight Preferred with other day-one plans, which matters because each carrier asks different health questions.