Foresters Term Life Insurance Promotion

Term Life Insurance Promotion¹. Limited Time Offer!

You’re dealing with a lot right now – work, family, and responsibilities at home. And just like other Canadians, you’re also facing rising interest rates, expensive grocery bills, and an uncertain economic landscape. We get it.

In response to everything you’re juggling, including rising inflation costs, we are excited to announce discounts on our popular Foresters Financial™ term life insurance products between May 1 and December 9, 2023. . Not only will you get the peace of mind that comes with protecting your loved ones when it matters most, but you’ll also keep more money in your wallet today. Plus, new Foresters members will also receive an added bonus- keep reading for more details.

Helping You Save on Term Life Insurance

Term life insurance² can be an essential part of your financial plan, like helping to protect your mortgage, equity lines of credit, or other outstanding debts in the event of your untimely passing. Getting term life insurance at a discount makes it even better.

For a limited time, we are offering these discounts on our popular term life plans:

• Save with discounted premiums on coverage of $500,001 or more for the entire duration of the policy! In some cases, rates are discounted by over 10%. Choose the term that’s right for you — 10, 20 or 30 years!
• Get guaranteed death benefit amount and level premiums!
• Optional riders for extra protection!
• No initial paramedical or no lab work for coverage up to a $1 million for ages up to 50, and up to $500,000 for ages 51-55!

As a Foresters member, you’ll also get access to complimentary benefits³ that can help you save money on everyday items as well as access to Foresters Go™⁴ – a wellness app that rewards you for healthy living and giving back to your community.  You deserve life insurance coverage that helps you get the most out of life.

Plus, members who join during our promotion can earn $25 in bonus Foresters Go reward points just by downloading the Foresters Go app and completing the Wheel of Life. But it is for a limited time only!

What is Term Life Insurance?

You always want to ensure that your family is protected – even in the event you’re not able to be there anymore. Term Life Insurance from Foresters Financial™ can help. Our term life insurance can be an affordable solution to help protect what matters most and reduce your financial stress.

Term Life Insurance provides a fixed death benefit amount for a fixed premium payment over a fixed period. Your loved ones can use the death benefit to help pay off your mortgage or home equity lines of credit, pay for children’s post-secondary education, make a contribution toward your favourite charity in your name, or toward whatever your family needs.

The benefit is only payable if the insured dies within the designated term and you have paid your annual premiums.

The Advantages of Term Life Insurance

Term insurance is initially less expensive than permanent insurance and offers an affordable option to cover short-term obligations.

Term life insurance is helpful if you only need coverage for a specific time period. You choose the coverage option that best suits your budget. We offer terms of 10, 20 and 30 years. Your premium payments, the money paid to your life insurance company in exchange for coverage, are guaranteed and will remain level for the term you select.

You also have the option to switch over to longer-term coverage. Suppose your needs change, and you want lifetime protection. In that case, Foresters term life insurance allows you to convert to permanent whole-life coverage without the stress of providing additional evidence of insurability.

Term Life Insurance Product Highlights

Although every Canadian family deserves access to life insurance, rising interest rates and cost inflation on everyday necessities like food and gas, has forced people to make some difficult spending decisions. At Foresters,  you’ll have access to flexible plans that best suit your financial needs at the budget you want. That’s why our term life insurance comes with these unique product features and benefits.

Preferred Insurance Classes: Living a healthy lifestyle is super important, and we want to provide extra incentives for living your best life. Foresters term life insurance offers preferred insurance classes for $1,000,001 or more coverage. This means that if you are in good health and live a healthy lifestyle, you may be eligible to pay lower premiums.

Don’t forget! There’s no initial paramedical or lab work required for coverage up to a $1 million for ages up to 50, or up to $500,000 for ages 51-55! 

Joint Term Coverage: With joint term coverage, you and your partner can be covered under one policy, which might be less expensive than two individual policies.

Conversion Privilege: Our term insurance policies may be converted without evidence of insurability to any permanent insurance plan offered by Foresters for conversion at that time.

Exchange Privilege: This privilege allows the policy owner to exchange a term insurance policy for another term insurance policy with a longer term if offered by Foresters at the time of exchange.

Charity Benefit Provision: Giving back is important to you. It’s important to us as well. In addition to the death benefit, when a claim is paid to the beneficiaries, Foresters will donate 1% (up to a maximum of $100,000) to the eligible designated charitable organization you choose.ⁱ

Bereavement Assistance: Your insurance policy provides your family with financial support and can also help with emotional support. Beneficiaries may be reimbursed up to $1,000 for counselling services to help them deal with their loss.

Life Insurance that focuses on living your best life and building communities

When you purchase life insurance from Foresters Financial, you’re not just securing peace of mind and protection for your family. You’re joining a community that looks to make a social difference through its active membership.

Members are at the centre of everything we do at Foresters Financial. It provides extra opportunities to do more for your families, communities and the causes you care about.

Here are some of the key benefits of membership:

Foresters Go: Special Offer – During our special promotion, new Foresters members can earn $25 in bonus reward points just by downloading the Foresters Go app and completing the Wheel of Life. It’s more than a wellness app, you can earn rewards for living a healthy lifestyle and giving back to your community.

Well-being Benefits: Several well-being benefits help with your financial success and enhance your life. These include member deals⁵ on shopping and popular activities, learning courses, scholarships, and support for children who lose a parent at a young age.

Foresters Community Volunteer: Give back and connect with your community. Applying for a volunteer grant can provide money to help you support the people and community around you.

Foresters Competitive Scholarship⁶: We believe that education and community are essential. That’s why we award almost $2 millionⁱⁱ annually in renewable tuition competitive scholarships to members or their family members.

Looking for Permanent Protection?

We do more than term life insurance. If you are looking for lifetime protection with a guaranteed death benefit, we also offer affordable whole-life insurance with the opportunity for dividend growth.

Like our term life plans, Foresters Advantage Plus is a participating whole life insurance solution designed to help meet your financial needs and care for your loved ones. It just does it in a few ways that differ from term life.

Advantage Plus⁷ provides a tax-free death benefitⁱⁱⁱ that can protect the financial security of your loved ones in the event of an untimely death. Because there is no term, as long as you pay your premiums, it comes with a guaranteed pay out to your loved ones.

Advantage Plus Whole Life is a participating whole life insurance plan with the potential for dividends and cash value accumulation^iv. These dividends can purchase additional paid-up insurance and build additional cash value, be left on deposit to accumulate with interest, reduce premiums, or be paid in cash. Advantage Plus also comes with an Enhanced Insurance Dividend Option that could offer you more affordable permanent cover – another great inflation busting tool. Ask your Advisor about this terrific option. Remember – age plays a big factor into your life insurance premiums and it’s always better to secure your life insurance coverage when you’re younger.

¹ Term discount applies to all Foresters Term 10, Term 20 and Term 30 applications with individual coverage over $500,000 submitted between May 1 to December 9, 2023. Discount applies to all Canadian provinces and territories. Discount does not apply to Canada Protection Plan term products.

² Foresters term life insurance underwritten by Foresters Life Insurance Company.

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 Foresters Go is provided by The Independent Order of Foresters and is operated by
dacadoo AG.

⁵ Discounts are administered by Entertainment Benefits. All offer prices listed on the MemberDeals platform are displayed in US currency and Canadian residents may be charged a currency conversion/foreign exchange fee by their credit card provider.

⁶ The Competitive Scholarship member benefit is administered by International Scholarship and Tuition Services, Inc. Eligible members, their spouse, dependent children, and grand-children may apply subject to the eligibility criteria. Please visit https://www.foresters.com/en-ca/member-benefits/scholarship-new-applicants for further details.

⁷ Underwritten by The Independent Order of Foresters.

ⁱ Foresters will pay the eligible designated charitable organization in the name of the insured. 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.

ⁱⁱ In Canadian dollars as of December 31, 2022.

ⁱⁱⁱ Proceeds from an insurance certificate paid due to the death of the insured person are generally excludable from the beneficiary’s gross income for income tax purposes. Foresters, their representatives and employees, do not give legal or tax advice. The information given here is merely a summary of our understanding of current laws and regulations. Prospective purchasers should consult their financial, estate, tax or legal advisor regarding their situation.

^iv Dividends are not guaranteed

422007 CAN (06/23)