Foresters PlanRight Life Insurance Review For 2024

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Who Is Foresters Financial?

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The Independent Order of Foresters, more commonly known as Foresters Financial, is a purpose-driven financial services provider offering life insurance, annuities, and mutual funds to over three million clients and members in Canada, the United States, and the United Kingdom.

Foresters Life Insurance Company has been in business since 1874 and operates as a fraternal benefit society (a non-profit organization).

In the U.S., Foresters’ primary product is individual life insurance – whole life insurance, smart universal life insurance, and term life insurance coverage. This review will focus on Foresters’ PlanRight whole life insurance offering, one of the top final expense life insurance products in the country.

Attribute Details
Founded 1874
Address PO Box 179
Buffalo, NY 14201
Email [email protected]
Phone (800) 828-1540
BBB Rating A+
A.M. Best Rating A (Excellent)

Foresters Insurance Company holds an A (Excellent) rating from A.M. Best and an A+ rating from the Better Business Bureau.

Check out: Prosperity Life Insurance’s Coverage Options

Foresters Final Expense Life Insurance Offerings

As mentioned, PlanRight is the brand name of Forester’s final expense life insurance policies.

As the name suggests, these policies cover your “whole life” (as long as your premiums are paid on time).  For this reason, these policies are also often called permanent life insurance policies.

PlanRight Whole Life Insurance Availability

A PlanRight whole life insurance policy is available to individuals ages 50-85 across all U.S. states, and D.C. Foresters is one of the only life insurance companies to offer a final expense life insurance policy across all 50 states.

The amount of final expense coverage you can buy varies by age and health (i.e., the plan type you are approved for), but generally, it ranges from $5,000 to $35,000.

Given their maximum death benefit of $35,000, PlanRight will help policyholders cover their final expenses.  Common end-of-life expenses include funeral and burial costs and other financial obligations such as unpaid medical debt.

PlanRight Policy Riders

While many life insurance companies charge for riders, Foresters Life Insurance automatically includes up to three riders at no additional premium. (Life insurance riders provide additional coverage beyond what is available in the standard policy.)

  • Accelerated Death Benefit Rider:  The accelerated death benefits rider allows you to receive a portion of your death benefit if you are diagnosed with a terminal illness
  • Common Carrier Accidental Death Rider: Provides an additional death benefit if death is due to an accident on a plane, bus, or train.
  • Family Health Benefit Rider: Provides a payment to help cover family health expenses (e.g., an ambulance ride) that occur as a result of certain natural disasters

Foresters also offers an accidental death benefit rider, which pays the beneficiary double the death benefit if the insured dies an accidental death.

The Benefits of PlanRight Final Expense Insurance

PlanRight burial insurance policies have the following benefits:

  • Lifetime life insurance coverage (up to age 121)
  • Premiums that are guaranteed never to increase
  • Tax-free, guaranteed death benefit
  • Guaranteed cash value growth
  • Access to exclusive member benefits, such as financial counseling

In addition, one of the biggest selling points of all burial insurance policies is the lack of a medical exam. As you can see from Foresters’ sample life insurance application below, you have to answer a set of X “yes or no” medical questions (called a personal health interview) to apply for the policy.

For many, these personal health interviews are far less stressful and privacy-invading than standard life insurance medical exams.

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Foresters PlanRight Life Insurance Products

You can purchase life insurance coverage from Foresters via one of three plan types:

  • PlanRight Preferred: Provides a level death benefit
  • PlanRight Standard: Provides a level death benefit (but is priced slightly higher than the Preferred product)
  • PlanRight Basic: Provides a two-year graded death benefit

As mentioned above, eligibility for these plans depends on your answers to the medical questions during the application process.

Foresters Financial Burial Insurance FAQs

Is Foresters Financial a legitimate company?

Yes, the Independent Order of Foresters (also known as Foresters Financial) is a legitimate insurance carrier that has been around since 1874

How long has forester financial been business?

Foresters Financial is a non-denominational fraternal benefit society, which has been providing socially responsible financial services to individuals since 1874. Foresters is a 501(c)(8) non-profit.

What is Foresters Financial?

Foresters Financial is a non-denominational fraternal benefit society, which has been providing socially responsible financial services to individuals since 1874. Foresters is a 501(c)(8) non-profit.

Who Owns Forester Life?

Foresters Financial was bought by Nassau Financial in 2019. Nassau itself was formed in 2015 by Golden Gate Capital, a private investment firm.

Is Foresters Financial A Non-Profit?

Yes, Foresters Financial is a 501(c)(8) non-profit organization. This means that Foresters Financial is a fraternal beneficiary society, operating for the exclusive benefit of the members of a fraternity itself and providing for the payment of life, health, accident, and other benefits to the members of the society.


We hope you enjoyed this Foresters Life Insurance Company burial insurance review!

Article Sources
  1. Foresters Financial. PlanRight Whole Life