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

37% year-over-year growth in U.S. life insurance sales

Life insurer focuses on turnkey-decisioned solutions, complimentary member benefits, and technology transformation to drive a better, new normal for everyday American families and independent agents

TORONTO, Oct. 18, 2021 /PRNewswire/ - Foresters Financial, the fraternal life insurer recognized by its commitment to enrich family and community well-being, reported 37% year-over-year growth in U.S. life insurance sales in the first three quarters of 2021. This milestone follows its record 23% annual growth in 2020 when Foresters strengthened its digital ecosystem to support virtual sales during the first waves of the COVID-19 pandemic.

Foresters attributes this trajectory to its life insurance with a larger purpose strategy: harmonizing turnkey-decisioned, mobile-enabled products with a suite of socially relevant, wellness-centric member benefits. Deploying this strategy, Foresters is re-defining the conventional life insurance model, and quickly bridging the $25 trillion mortality protection gap₍₁₎ to deliver a better, new normal for everyday American families.

"The Foresters commitment to a full suite of non-face-to-face, simplified issue life insurance proved an indispensable asset to agents serving everyday American families through COVID-19," said Matt Berman, President of Foresters Financial US. "This represented 90% of Foresters total U.S. business in 2020."

Mr. Berman continued, "Emerging from a pandemic, American families have a renewed focus on life insurance. To compete in a post-COVID world, life insurers need to demonstrate a more proactive value proposition to address today's protection realities. Now more than ever, fully integrated, holistic life insurance matters. Our mission to integrate wellness into our products and member benefits is proving to be our unique differentiator."

Complimentary benefits for better quality of life

Foresters has elevated its portfolio of complimentary member benefits, designed to help everyday families enjoy a more prepared and healthier life (and have a little fun along the way).

Most recently, Foresters launched the Foresters Go app. This unique engagement platform co-produced with industry-leading insurtech, dacadoo, rewards members for healthy lifestyles, volunteer activities and community-minded behavior.

Other benefits include the Foresters Competitive Scholarship Program, providing $2,500 per year, for up to four years, to children or grandchildren of insured members, and Community Granting providing up to $2,000 (up to three times a year) for members to organize meaningful activities that address local needs.

Additionally, LawAssure, launched in 2019, is a complimentary legal documentation preparation service for Wills, Power of Attorney, and Health Directives, and lastly MemberDeals offers significant savings on thousands of products, services, events and experiences.

About Foresters Financial 

Foresters Financial is redefining the life insurance industry across the U.S. and Canada by enriching the lives, communities, and overall well-being of its members. Agents and members alike appreciate the turnkey-decisioned product offerings and end-to-end digitized processes that make it easy to get life insurance without traditional medical exams. State-of-the-art mobile tools help agents deliver tailored plans to prospective and current members. Dedicated to its members' well-being, Foresters offers a suite of member benefits₍₂₎ and is redefining the conventional life insurance model, bringing improved financial security and overall wellness to everyday North American families. Foresters recently merged with Canada Protection Plan to become a leading life insurance distributor in Canada. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 20 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best₍₃₎. 

For information purposes only.

™Foresters Financial, Foresters, and Helping Is Who We Are are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries.  

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

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SOURCE The Independent Order of Foresters