Foresters Financial boldly redefines life insurance through innovation, wellness, and purpose

Revealed: Oct. 18, 2021 at 11:54 AM EDT|Up to date: 27 minutes in the past

37% year-over-year progress in U.S. life insurance coverage gross sales

Life insurer focuses on turnkey-decisioned options, complimentary member advantages, and know-how transformation to drive a greater, new regular for on a regular basis American households and impartial brokers

TORONTO, Oct. 18, 2021 /PRNewswire/ – Foresters Monetary, the fraternal life insurer acknowledged by its dedication to complement household and group well-being, reported 37% year-over-year progress in U.S. life insurance coverage gross sales within the first three quarters of 2021. This milestone follows its file 23% annual progress in 2020 when Foresters strengthened its digital ecosystem to assist digital gross sales throughout the first waves of the COVID-19 pandemic.

Foresters attributes this trajectory to its life insurance coverage with a bigger function technique: harmonizing turnkey-decisioned, mobile-enabled merchandise with a collection of socially related, wellness-centric member advantages. Deploying this technique, Foresters is re-defining the traditional life insurance coverage mannequin, and rapidly bridging the $25 trillion mortality safety hole₍₁₎ to ship a greater, new regular for on a regular basis American households.

“The Foresters dedication to a full suite of non-face-to-face, simplified difficulty life insurance coverage proved an indispensable asset to brokers serving on a regular basis American households by way of COVID-19,” mentioned Matt Berman, President of Foresters Monetary US. “This represented 90% of Foresters complete U.S. enterprise in 2020.”

Mr. Berman continued, “Rising from a pandemic, American households have a renewed concentrate on life insurance coverage. To compete in a post-COVID world, life insurers have to display a extra proactive worth proposition to deal with at the moment’s safety realities. Now greater than ever, absolutely built-in, holistic life insurance coverage issues. Our mission to combine wellness into our merchandise and member advantages is proving to be our distinctive differentiator.”

Complimentary advantages for higher high quality of life

Foresters has elevated its portfolio of complimentary member advantages, designed to assist on a regular basis households get pleasure from a extra ready and more healthy life (and have just a little enjoyable alongside the best way).

Most just lately, Foresters launched the Foresters Go app. This distinctive engagement platform co-produced with industry-leading insurtech, dacadoo, rewards members for wholesome existence, volunteer actions and community-minded conduct.

Different advantages embody the Foresters Competitive Scholarship Program, offering $2,500 per yr, for as much as 4 years, to kids or grandchildren of insured members, and Community Granting offering as much as $2,000 (as much as thrice a yr) for members to set up significant actions that tackle native wants.

Moreover, LawAssure, launched in 2019, is a complimentary authorized documentation preparation service for Wills, Energy of Legal professional, and Well being Directives, and lastly MemberDeals gives vital financial savings on 1000’s of merchandise, companies, occasions and experiences.

About Foresters Monetary

Foresters Monetary is redefining the life insurance coverage {industry} throughout the U.S. and Canada by enriching the lives, communities, and total well-being of its members. Brokers and members alike recognize the turnkey-decisioned product choices and end-to-end digitized processes that make it straightforward to get life insurance coverage with out conventional medical exams. State-of-the-art cellular instruments assist brokers ship tailor-made plans to potential and present members. Devoted to its members’ well-being, Foresters gives a collection of member advantages₍₂₎ and is redefining the traditional life insurance coverage mannequin, bringing improved monetary safety and total wellness to on a regular basis North American households. Foresters just lately merged with Canada Safety Plan to change into a number one life insurance coverage distributor in Canada. Foresters Monetary is the commerce identify for The Impartial Order of Foresters, the oldest non-denominational fraternal profit society. For 20 straight years, The Impartial Order of Foresters has acquired an “A” (Wonderful) score from A.M. Greatest₍₃₎.

1. https://www.swissre.com/institute/research/topics-and-risk-dialogues/economy-and-insurance-outlook/Bridging-the-US-mortality-protection-gap.html
2. Member advantages described assumes Foresters membership. Foresters Monetary member advantages are non-contractual, topic to profit particular eligibility necessities, definitions and limitations and could also be modified or cancelled with out discover or are not accessible.
3. The A.M. Greatest scores assigned on July 29, 2021 mirror total energy and claims-paying skill of The Impartial Order of Foresters (IOF). An “A” (Wonderful) score is assigned to corporations which have a powerful skill to satisfy their ongoing obligations to policyholders and have, on stability, wonderful stability sheet energy, working efficiency and enterprise profile when in comparison with the requirements established by A.M. Greatest Firm. A.M. Greatest assigns scores from A++ to F, A++ and A+ being superior scores and A and A- being wonderful scores. In assigning the scores for IOF, A.M. Greatest acknowledged that the score outlook is “secure”, which suggests it’s unlikely to alter within the close to future. See ambest.com for our newest scores.

For info functions solely.

™Foresters Monetary, Foresters, and Serving to Is Who We Are are commerce names and/or emblems of The Impartial Order of Foresters (a fraternal profit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries.

Canada Safety Plan is a trademark of Canada Safety Plan Inc.

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SOURCE The Impartial Order of Foresters

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