Foresters Burial Insurance Review

Jake Irving

Jake Irving is the Founder of Policy and has contributed to articles for Synchrony Financial, GoBankingRates, Yahoo News, UpCity, Zapier, LegalZoom, and more.

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There are many solid funeral insurance companies and plans. Some carriers are not as good or are much more expensive than others. The best way to know if a company has favorable plans to cover funeral expenses is to do your research.

Finding the right funeral insurance plan should not be hard. This is why we have put together a detailed yet straightforward Foresters burial insurance review.

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Foresters Burial Insurance Review

Foresters Financial was established in 1874. For over 145 years, this carrier has been in the financial services industry.

Foresters Financial Life Insurance Company is financially stable, with a surplus of 2.1 billion dollars and 2.5 million policies in force as of 2019. You can be assured of receiving the claim payout that you and your family are entitled to.

Foresters PlanRight insurance plan is consistently ranked as one of the best burial insurance companies.

Company Details

  • Established: 1874
  • A.M. Best Financial Rating: A (excellent)
  • Headquarters: Toronto, Canada

Plan Types

Foresters PlanRight has two final expense insurance options.

  • Plan 1: Preferred & Standard
  • Plan 2: Modified

Understanding how funeral insurance works will help explain the benefits of the PlanRight insurance product. All funeral insurance plans have three permanent whole life benefits.

Price Never Increases: The monthly premium is guaranteed never to increase. For any senior on a fixed income, it is important to know your monthly fixed costs. Burial insurance allows you to do that with no surprise rate increases.

Locked In Coverage: Your coverage will never decrease or terminate. This gives families peace of mind knowing that the policy will pay for the final expenses.

Builds Cash Value: For each monthly payment made, a portion will go towards the cash value. Over time this amount will grow and can be borrowed from.

Plan 1: PlanRight Preferred & Standard

The Preferred and Standard plans from Foresters Financial are immediate coverage funeral expense insurance options.

Details About This Plan

  • Age Eligibility: 50 – 85
  • Coverage Amount: $5,000 – $35,000 (depending on age & plan)
  • State Availability: All 50 & DC
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: No
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes
  • Smoking Rates: Yes

Day-One Coverage & Affordable Premiums

With immediate final expense insurance coverage, both the Preferred and Standard whole life plans are great options. Day one coverage is what every applicant should attempt for, and both these plans offer this protection.

Foresters final expense insurance is great for applicants with certain heart, liver, lung, and kidney diseases or mental health conditions like bipolar disorder.

Both plans offer competitive monthly premiums. The Preferred plan has stricter underwriting and lower prices. The Standard plan allows select illnesses not considered with Preferred and has a slightly increased price.

Death Benefit Amounts

The coverage amount varies depending on age and plan type.

Preferred

  • $5,000 – $35,000 (age 50 – 80)
  • $5,000 – $15,000 (age 81 – 85)

Standard

  • $5,000-$20,000 (age 50 – 80)
  • $5,000-$10,000 (age 81 – 85)

Three Riders Included

The following riders are built into the policy at no added cost and provide additional protection.

Family Health Benefit: This rider provides immediate family members who have encountered qualifying health situations with a $650 benefit per person per event with a lifetime family maximum of $5,000. A qualifying event would be transferring to a hospital (within the US) by ambulance, emergency room visit, or hospital stay due to an earthquake, tornado, tsunami, lightning strike, or volcanic eruption.

Common Carrier Accidental Death: Additional coverage is provided if the insured’s death was within 180 days of an accidental bodily death that happened while riding as a fare-paying passenger on a common carrier.

Accelerated Death Benefit Rider: This rider allows the insured to accelerate and receive a portion of the death benefit payment upon being diagnosed with a non-correctable illness or condition that they are reasonably expected to die within the next 12 months.

Foresters Financial Life Insurance Quotes: Preferred & Standard Plans

Foresters Preferred whole life plans offer extremely low and competitive premiums. However, qualifying for this plan requires better health. It will be easier to medically qualify for the Standard plan, but the premium will be slightly more expensive each month. The PlanRight quotes shown are non-smoking.

The Living Promise Level plan from Mutual of Omaha has lower prices. Most seniors who can qualify for Foresters Preferred policy will also qualify for Living Promise. Speak with an agent who represents both carriers, or fill out the quote machine on this page.

Female

$10,000 of Coverage

Monthly Premiums

Age Preferred Standard
50
$26
$37
55
$31
$43
60
$35
$50
65
$41
$65
70
$52
$83
75
$75
$124
80
$111
$174
85
$166
$263

Male

$10,000 of Coverage

Monthly Premiums

Age Preferred Standard
50
$32
$45
55
$37
$59
60
$45
$74
65
$55
$93
70
$71
$116
75
$103
$167
80
$147
$225
85
$201
$320

Plan 2: PlanRight Basic

The Basic plan from Foresters has a two-year waiting period attached to the coverage. This plan is more lenient during the underwriting process.

Details About This Plan

  • Age Eligibility: 50 – 80
  • Coverage Amount: $5,000 – $15,000
  • State Availability: All 50 & DC
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: Yes
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes
  • Smoking Rates: Yes

Two-Year Waiting Period

The Basic plan from Foresters has a two-year waiting period attached to the coverage. This means if death were to happen in years one or two of the policy, the carrier would return all burial insurance premiums paid to the beneficiary, plus ten percent.

Extra Built-In Benefits

There are two additional benefits built into this whole life plan. These are both included and detailed in the preferred and standard section above.

  • Common Carrier Accidental Death Rider
  • Family Health Benefit Rider

Foresters Financial Burial Insurance Quotes: Basic Plan

The Basic plan has much higher premiums than some of its competitors, like Guarantee Trust Life. The premiums will be substantially more than other immediate coverage plans due to the carrier taking on a higher-risk applicant. There are better policy structures on the market with lower pricing than this plan offers. The quotes shown are non-smoking rates.

$10,000 of Coverage

Monthly Premiums

Age Female Male
50
$37
$47
55
$44
$60
60
$52
$74
65
$66
$95
70
$86
$118
75
$132
$171
80
$192
$259
85
NA
NA

Foresters Financial PlanRight Member Benefits

Foresters is a “Fraternal Benefit Society,” meaning it is a non-profit and operates for its members’ benefit. You become a member by simply having a policy and have access to the benefits listed below.

LawAssure: This online document service helps you create Power of Attorney, Wills, and Health Care Directive documents.

Everyday Money: This is a toll-free service that members can call and speak with an accredited debt advisor. They can help with debt management and budgeting.

Emergency Assistance Program: Emergency grants provide short-term temporary financial aid to members affected by extreme personal hardship or natural disaster.

Orphan Scholarship: This benefit provides a learning scholarship of up to $6,000 per year for children of deceased members.

Orphan Benefit: This provides up to $900 per month to a child if both parents pass away.

Terminal Illness Loan: If you become terminally ill, you may qualify for an interest-free loan of up to 75% of the policy face amount.

Charitable Contributions

KaBOOM: Since 2006, Forests has partnered with KaBOOM. 154 kid play spaces in 93 cities and 31 states around the country have been built.

Is Foresters Life Insurance a Good Company?

Since 1874 the Foresters insurance company has provided financial services to their valued customers. With an A financial rating from A.M. Best and Foresters Financial customer reviews being positive, you can trust this carrier to pay out your claim promptly.

Final Thoughts on Foresters Final Expense Insurance

a. This Foresters funeral insurance review showed that this is a well-respected company in the life insurance industry. The Preferred and Standard plans are of great quality and value. The Basic plan should be avoided due to the waiting period and high price point.

b. With every policy comes a Foresters Financial membership. This membership includes many benefits, including legal document services and a terminal illness loan.

c. Work with an agent who has access to Foresters Financial PlanRight and other final expense insurance companies as this will provide you with the most option to get the best coverage tailored to you.