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Advantage Plus Par Whole Life
Why choose Foresters Advantage Plus1 Par Whole Life?
- Lifetime protection with guaranteed premium, death benefit amount, cash value, non-forfeiture values and loan provisions
- Competitively priced especially for clients 45-70
- Opportunity for dividend2 growth backed by a solid history of dividend performance
- Five dividend options to cover a wide variety of needs
- Three plan options available at issue: 10-Pay, 20-Pay and Pay to age 100
- Coverage up to $5,000,000 and larger amounts of up to $25,000,000 available by special quote
- No paramedical or lab work required for coverage up to $1 million for ages up to 50 and $500,000 for ages 51 to 55.
- Valuable built-in features including a Quit Smoking Incentive Plan, which provides smokers lower rates for the first 2 years
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Insured have access to a suite of member benefits3 they can use to help them live richer, fuller lives
Affordable permanent protection with the opportunity for dividend growth
ADVANTAGE PLUS OVERVIEW
| Issue ages (age nearest birthday) |
Pay to 100
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20-Pay and 10-Pay
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| Issue limits |
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| Modal factors and policy fees | Frequency Monthly Annual |
Modal factor 0.09 1.00 |
Guaranteed Policy Fee $4.50 $50.00 |
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| Rate Bands | Band 1: $25,000 to $100,000 Band 2: $100,001 to $250,000 Band 3: $250,001 to $500,000 Band 4: $500,001+ |
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| Dividend options |
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| Built-in features (contractual) |
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| Built-in features (non-contractual) |
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| Optional riders |
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DIVIDEND OPTIONS
Enhanced Insurance Dividend Option
This option provides enhanced life insurance through a combination of Paid-up Additional insurance (PUA) and One-Year Term insurance (OYT). Premiums are generally less than other dividend options. On each certificate anniversary, dividends, if any, are used to purchase a combination of PUA insurance and OYT insurance. Over time, PUAs gradually replace the term insurance until the coverage is 100% whole life.
Paid-Up Additional Insurance (PUA) Option
Dividends will be used to buy life insurance in addition to the Basic Insurance Amount. Paid-up Additional Insurance is eligible to earn dividends and has a cash value.
Premium Reduction Option
Dividends go towards the premium each year and the remainder of the premium will be payable.
Dividend on Deposit Option
Dividends remain on deposit within the certificate and may earn interest.
Cash Payment Option
Dividends are paid directly to the owner.
BUILT-IN FEATURES (CONTRACTUAL)
Charity Benefit Provision4
Foresters will donate 1% (up to $100,000) of the basic insurance amount to a registered charity selected by the insured.
Quit Smoking Incentive Plan
Smokers can qualify for Non-Smoking rates for two years. After that point, if they’ve quit smoking, those lower rates continue.
Children’s Insurance Benefit
Insured children get up to $3,000 in term insurance coverage up to age 25. Coverage can be converted to $10,000 of permanent insurance at certain times without evidence of insurability.
Juvenile Guaranteed Insurability Benefit
If the insured is less than 18, they can purchase more insurance on specific dates without evidence of insurability.
BUILT-IN FEATURES (NON-CONTRACTUAL)
Expert Medical Opinion Program5
Through Teladoc Health, your clients and their families get second opinions on medical issues from leading experts.
OPTIONAL RIDERS
Term 10, Term 20 and Term 30 Riders
Provides renewable and convertible term insurance on the insured person and/or that person’s spouse.
Accidental Death Rider
Provides additional coverage in the event of accidental death. Death must arise solely as a direct result of an accident that occurs while this rider is in effect.
Guaranteed Insurability Rider
Provides option to purchase new coverage without evidence of insurability for an amount less than or equal to Guaranteed Insurability Rider amount on any of the option dates described in the contract.
Waiver of Premium Rider
This benefit will automatically waive the monthly premium in the event of the total disability of the person insured under this rider.
Owner Waiver of Premium Rider
This benefit will automatically waive the monthly premium in the event that the insured owner of a certificate on the life of a Juvenile dies or becomes totally disabled before the insured Juvenile has reached the certificate anniversary nearest his or her 25th birthday.
Children’s Term Life Insurance Rider
This rider provides term insurance protection for the insured person’s children between the ages of 15 days and 25 years. The premium is guaranteed and payable for only 20 years on Pay to 100 and 20-Pay certificates and 10 years on 10-Pay certificates.
Additional Purchase Option
Provides the Owner with the opportunity to purchase paid-up additional insurance on the life of the insured.
SKY ILLUSTRATION SOFTWARE
Sky is Foresters easy-to-use illustration software. It allows you to easily run product illustrations and create personalized quotes.
APPLICATIONS
E-Signature Applications (Docusign, OneSpan and Adobe Sign)
Wet Signature Applications
INSURANCEASSIST E-APP
The InsuranceAssist e-App helps you complete secure online applications for Advantage Plus with your clients. Our e-App easily lets you add riders to coverage, get e-signatures and avoid delays due to errors.
MARKETING MATERIALS
Share our easy-to-understand marketing materials with prospects to help grow your business.
MEMBER BENEFITS
When your clients purchase a life insurance certificate from Foresters or Canada Protection Plan, the insured person becomes a member. Members have access to a suite of member benefits they can use to help them live richer, fuller lives.
CASE STUDIES
Check out these case studies for sales ideas you can use with your clients.
DETAILED ADVISOR GUIDE
Get up-to-speed fast on all the features of Advantage Plus Par Whole Life with our detailed Advisor Guide.
SAMPLE POLICY PAGES
Sample Policy Pages
The following sample policy pages are provided for reference only. They may be incomplete and/or may not reflect recent updates. To determine exact terms and conditions for a particular client, please refer to the actual policy issued to that client.
1 Underwritten by The Independent Order of Foresters.
2 Dividends are not guaranteed. Past dividends are not an indicator of future performance.
3 Foresters member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice or are no longer available.
4 The designated charitable organization must be registered as a charity with the Canada Revenue Agency. The Charity Benefit will only be paid if an eligible beneficiary for the benefit has been designated, prior to, and is in effect on, the date of the death of the insured.
5 This Program is provided solely by Teladoc Health 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.
Contact our dedicated WFG Services
Emails:
Contract Set Up: wfgcontracting@cpp.ca
New Business: newbusiness@cpp.ca | wfgcasemanager@foresters.com
InForce: customerservice@cpp.ca | clientservice@foresters.com
Underwriting Inquiry: underwriting@cpp.ca | underwritinginquiries@foresteres.com
Online Policies (for password): wfgcontracting@cpp.ca | wfgsupport@cpp.ca
Illustration/Sales Support: wfgsupport@cpp.ca
Bilingual WFG dedicated Support line: 1-844-934-6060
Working hours:
9am – 6pm ET
Contact to your Regional Vice President for more information!
© 2024 Canada Protection Plan, CANADA PROTECTION PLAN and the logo are trademarks of Canada Protection Plan Inc., a Foresters Financial Company, No Medical and Simplified Issue Life and Critical Illness Insurance Underwritten by Foresters Life Insurance Company.
Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Moments, Foresters Renew, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.