Key enhancements
NEW: Charity Benefit provision1- When a claim is paid to the beneficiaries, Foresters will donate (up to $100,000) an additional 1% of the face amount to a designated registered charitable organization, so clients can support their favorite cause. Automatically included in the contract with no additional monthly deductions.
- Minimum face amount for issue ages 0-15 reduced from $150,000 to $50,000 for medical cases.
- Juvenile underwriting class now goes to age 17
- GPO maximum face amount increased from $30,000 to $50,000
- Re-priced using 2017 CSO tables
NEW: Interest Rates
- Competitive non-guaranteed interest rate of 4.1%
- Lower loan interest rates:
- certificate years 1-7 loan interest rate is 4.0%
- preferred loan interest rate is 2.0% after the 7th certificate anniversary
- collateral loan interest account crediting rate is 2.0%
- Re-designed color illustrations that are more customer friendly
- Updated product details page to include Charity Benefit provision and lump sum/1035 exchange information
- NO changes to the application
Changes to SMART UL are pending approval in CA and NY.
Plus
Coverage and cash values
- Guaranteed death benefit amount
- Guaranteed cash values
Premiums
- 10-Year Minimum Premium No-Lapse Guarantee2
- Low minimum modal premiums
Value added riders with no additional monthly deductions
- Accelerated Death Benefit Rider3
- Common Carrier Accidental Death Rider
- Family Health Benefit Rider
Optional riders4 for living benefits and added protection
- Guaranteed Purchase Option Rider
- Waiver of Monthly Deductions Rider
- Children's Term Rider
- Accidental Death Rider
Underwriting options
- Non-medical5 issue up to $400,000 in coverage (ages 16–55).
- Coverage as low as $100,000 (ages 16-70) and up to $10,000,000 and higher with medical underwriting.
- Preferred and substandard underwriting classes available.
SMART UL Sales Concepts
- Meet Ken - A 38-year old married father of two young children, and a primary income earner
- Meet Laura - a 25-year old recent college graduate who just started her first full-time job
- Meet Anita - A 55-year old mother; her son is about to graduate from college
- Meet Justin - A 43-year old married male, purchasing a new home with his spouse and will have a 30-year joint mortgage
Reasons to sell Foresters Financial
Financial strength and stability you can count on
- $44 billion in total funds under management, total assets of $17.7 billion, liabilities of $15.7 billion, and a surplus of $2 billion6.
- A.M. Best has given both The Independent Order of Foresters and Foresters Life Insurance & Annuity Company an "A" (Excellent) Financial Strength Rating (FSR), with The IOF having received the same rating for 18 straight years7.
- Review our 2017 Financial highlights.
An uncompromising focus on ease of doing business
- Non-medica5ions up to $400,000 with simple underwriting, quick issue and quick pay (non-medical defined as Script Check and MIB check – no fluid collection or paramedical examinations).
- Accellerated Point of Sale (POS) decisioning in 10 minutes or less when using iPipeline's iGO e-App8.
- Go paperless with Foresters mobile quotes for quoting on the go.
- Multiple initiatives designed to increase your options, reduce processing time and speed up payments with daily pay available.
Helping families and building communities for over 140 years
- We offer a unique package of complimentary member benefits9 including Competitive Tuition Scholarships10, Community Grants, and Emergency Assistance.
- In 2017 Foresters volunteers and KaBOOM! built 10 playgrounds providing 14,290 children and families with a safe place to play and connect. In 11 years we have built more than 140 playgrounds.
- Official partner of Ronald McDonald House Charities® (RMHC®), and KaBOOM!
Learn our difference. Grow your business.
We believe in working with communities to make our purpose a reality. That's why we invest time and money in ways we can work together to make a difference, including neighborhood programs, charities, and scholarships. Here are some of the ways we made a difference in 2017:
Join us in doing more - share our member benefits infographics.
