Carrier review · Independent take
Foresters Financial is different from most carriers — it’s a fraternal benefit society that’s been around since 1874, and a policy comes with member perks you won’t find at a typical insurer. Here’s our honest, independent read on where it fits.
Our verdict
A financially strong, member-owned fraternal that punches above its weight on extras — competitive scholarships, free will preparation, and broad living-benefit riders — anchored by a genuinely useful PlanRight final-expense plan. A standout when the member benefits and living benefits matter to you.
Best for
The basics
Founded in 1874 and headquartered in Toronto, Foresters Financial — formally The Independent Order of Foresters — celebrated its 150th anniversary in 2024. It is not a stock or mutual insurer but a fraternal benefit society: a not-for-profit membership organization run for the benefit of its members rather than outside shareholders.
For our clients, that structure has a real upside. Because surplus is directed back to members and community programs instead of shareholders, a Foresters policy comes bundled with member benefits — scholarships, complimentary legal documents, community grants — that a typical carrier simply doesn’t offer.
What they offer
Their flagship burial plan: simplified-issue whole life for ages 50–85, $5,000–$35,000, with no medical exam and guaranteed level premiums. Three tiers — Preferred and Standard pay a level benefit from day one for those who qualify; Basic carries a two-year graded period for tougher health situations.
Level term in 10/15/20/25/30-year lengths for ages 18–80, with a non-medical option up to $400,000. Convertible to permanent coverage and includes an accelerated death benefit rider for critical, chronic, and terminal illness.
Participating whole life for ages 0–85 from $25,000, with guaranteed cash value and the potential to earn non-guaranteed dividends. Permanent coverage that builds value you can borrow against over time.
A flexible-premium universal life option for longer-term needs, plus BrightFuture children’s whole life (ages 0–17) to lock in coverage and start building cash value for a child early.
The honest rundown
What customers & raters say
On the measure that protects your family most — the ability to pay claims — Foresters rates well: A (Excellent) from AM Best, the third-highest of its ratings, held for 25 consecutive years. What sets it apart is the package around the policy: a broad living-benefit rider plus member perks — scholarships, free will preparation, community grants — that stock insurers rarely match.
A fair word on online reviews: every carrier collects complaint-driven star ratings, and Foresters’ agent-led, more paper-based process isn’t the slickest online experience. Read those reviews in context — and lean on an independent agent to handle the paperwork and set expectations so the process goes smoothly.
Honest about cost
We keep specific prices off these pages on purpose: your real rate depends on your age, health, tobacco use, the exact product, and your state — only a personalized quote tells the truth. Foresters is often a strong value once you factor in the member benefits that come bundled with the policy. As an independent agency, we’ll run it head-to-head against the rest of our panel and only point you there if it genuinely wins for your situation.
Common questions
By the measure that matters most — financial strength and claims-paying ability — yes. The Independent Order of Foresters holds an A (Excellent) rating from AM Best (the third-highest tier), which it has maintained for 25 consecutive years, plus an A+ from the BBB. It’s especially appealing if you value the member benefits — scholarships, free will preparation, community grants — that come bundled with a policy. Whether it’s the best fit for *you* depends on your age, health, and goals, which is exactly what we help you compare.
A fraternal benefit society is a not-for-profit membership organization that provides insurance to its members. Unlike a stock company that answers to shareholders, Foresters is run for the benefit of its members — so when you buy a policy you become a member, and surplus is directed toward member benefits and community programs rather than shareholder profit.
PlanRight is Foresters’ final-expense (burial) whole life plan for ages 50–85, with $5,000–$35,000 of coverage and no medical exam. It comes in three tiers: Preferred and Standard pay a level benefit from day one for those who qualify, while Basic carries a two-year graded period for applicants with more significant health issues. It’s designed to cover funeral and end-of-life costs so they don’t fall on your family.
Foresters policies come bundled with member benefits that a typical insurer doesn’t offer — these have included competitive college scholarships, an orphan scholarship and benefit for members’ children, complimentary online will and legal-document preparation (LawAssure), community grants, and member discounts. Specific benefits and eligibility can change over time, so we’ll confirm what’s current for your situation.
Yes — Foresters is one of the carriers on our panel. Because we’re independent, we’ll only recommend it if it’s genuinely the best fit after comparing it against the other carriers we represent. Our job is the right coverage at a fair rate, not steering you to any one company.
No-pressure quote
Tell us a little about yourself and we’ll compare Foresters Financial against the rest of our panel — honestly, with no obligation.
