2024 Foresters Burial Insurance Review – Pros & Cons

Foresters is a good company. We’ve used them successfully in the past, but we rarely recommend them anymore.

They are worthy of consideration for some health issues, but they may be inappropriate if you have many other health issues.

Our Foresters burial insurance review will examine the company, its burial insurance products, and benefits to provide all the information you need to make an educated decision.

What to Ask Before Buying Foresters Burial Insurance

What Insurance Plans Does Foresters offer?

Foresters burial insurance plans are called PlanRight whole life insurance.

It is a simplified issue insurance plan with no medical exam. You only need to answer a set of health questions to qualify.

There are three benefit options that you can qualify for, depending on your health status, and the death benefit can be either level, graded, or modified.

PlanRight Burial Insurance Features
Lifetime coverage	coverage up to age 121
Level premiums	premiums will never increase
Level benefit	death benefit will never decrease
Accumulates cash value	builds up cash value over the years
Common Carrier Accidental Death Rider	provided at no extra cost
State Availability	All 50 States

#1 – PLANRIGHT LEVEL DEATH BENEFIT PLAN

This is a reasonably good option in certain situations and can be competitively priced for specific health issues.

Features:

• Lifetime coverage
• Level premium
• Available in all 50 states
• Maximum death benefit: $35,000
• Benefit schedule: First-day coverage, no waiting period

If you answer NO to all the health questions and are clear with the prescription history check, you will qualify for the Foresters level death benefit plan with first-day coverage.

Once approved, 100% of the death benefits will be paid to your beneficiary when you die. The maximum death benefit you can buy is $35,000.

The level death benefit plan is their best plan. If you are generally healthy, you can qualify for this plan. This plan is also designed to accept minor health conditions for first-day coverage.

#2 – PLANRIGHT GRADED DEATH BENEFIT PLAN

The graded death benefit by Foresters is often overly expensive for most people, and we would rarely even consider recommending this coverage option.

Features:

• Lifetime coverage
• Level premium
• Maximum Face amount: $20,000
• Available in all 50 states

Death Benefit schedule:

• First-year – 30%
• Second-year – 70%
• Third-year – 100%

To qualify for the graded death benefit plan, you must answer no to all the questions in the knockout section and no to all the questions in the modified section.

You will notice that all the questions here are related to chronic illnesses. If you answer yes to any questions, you will be approved for the graded death benefit plan.

#3 – PLANRIGHT MODIFIED DEATH BENEFIT PLAN

This is a terrible plan price-wise, which costs more than other plans with two-year waiting periods.

Features:

• 2-year waiting period
• Lifetime coverage
• Level premium
• Maximum Face amount: $15,000
• Available in all 50 states

PlanRight Modified death benefit plan is designed for people with significant health problems.

The maximum face amount you can buy is only $15,000. The death benefit is limited for the first two years of the policy. If you die from a natural cause during the first two years, your beneficiary will only receive a return of your premiums plus 10% interest.

Foresters will only pay 100% death benefit during the waiting period for accidental death. You must outlive the two-year waiting period for your beneficiary to receive your full death benefit.

In our opinion, getting a guaranteed issue no-health questions policy will be a much better choice than accepting a Foresters Modified plan.

Can You Get Foresters Burial Insurance Policy With No Waiting Period?

YES, Foresters offers a first-day coverage plan with no waiting period with their level coverage option.

If you qualify, the PlanRight level death benefit plan gives you full coverage from the first day. Your beneficiary will receive your full death benefit when you pass away.

Does Foresters Have Any Hidden “Fine Print” In Their Policy? (GI & GRADED ONLY)

Foresters don’t have any “fine print” clauses in their policies. Just be aware that their two lower-tier plans have waiting periods that many life insurance agents don’t explain very well.

Also, make sure you read your policy once you get it in the mail to verify the agent who helped you answered all the health questions correctly.

What Are The Pros & Cons Of Foresters Burial Insurance?

#1 – PlanRight Level Death Benefit Plan

PROS

• Easy phone application and approval
• Coverage will not expire. It will last until age 121
• Healthy individuals will qualify for first-day coverage
• Common carrier accidental death rider at no additional cost

CONS

• Fewer approvals with this plan
• Strict underwriting only healthy people qualify

#2 PlanRight Graded Death Benefit Plan

PROS

• Available in all 50 states
• Accelerated living benefits at no cost
• More health issues qualify for coverage

CONS

• Graded benefit payout schedule
• Expensive premiums compared to other companies

#3 PlanRight Modified Death Benefit Plan

• Coverage will last until age 121
• Accepts significant health issues
• Easy phone application and approval

• CONS
• Two-year waiting period
• Smaller death benefit amount
• Expensive premium compared to other companies

Are There Any Riders Or Other Benefits With Foresters Burial Insurance?

Foresters Riders

Foresters automatically include up to three riders with your base coverage, with no additional premium.

• Accelerated Death Benefit Rider: “(for terminal illness) may allow the owner to accelerate a portion of the death benefit and receive a payment if the insured is diagnosed with a terminal illness.”
• Common Carrier Accidental Death Rider: “May provide an additional benefit if death is due to an accident or accidental injury that happens while riding as a fare-paying passenger on a common carrier such as a plane, bus, or train.”
• Family Health Benefit Rider: “May provide a payment to help cover some family health expenses (such as an ambulance ride) that occur as a result of certain natural disasters.”

Foresters Other Benefits

• You can add, at an extra cost, an optional Accidental Death Rider to PlanRight preferred (with a level death benefit), which can pay an additional benefit in case of accidental death.

How Do I Get Approved By Foresters?

Foresters’ 1st-day coverage life insurance will ask if you have ever had some health issues, or had other health issues in the last 12, 24, or 36 months.

What Are Foresters Burial Insurance Application Questions?

Here are the questions you will find in the application:

PART A: KNOCKOUT QUESTIONS

Medical Questions (For purposes of these questions, “you” means the proposed insured, “diagnosed,” “advised,” “tested” and “treatment” mean by a licensed physician or medical practitioner, and “terminal illness” means an illness that would reasonably be expected to cause death within 12 months.)

1. Are you currently: a resident in a nursing home or skilled nursing facility; a patient in a hospital or psychiatric facility; receiving, or have been advised to receive, skilled nursing care, hospice care, or home healthcare; confined to a correctional facility? (Yes – No)

2. Do you require a wheelchair due to a chronic illness or disease, or do you require assistance (from anyone) with activities of daily living such as taking medications, bathing, dressing, eating, or toileting? (Yes – No)

3. a) Within the past 12 months, have you: a) Used or been advised to use oxygen equipment to assist with breathing (excluding use for sleep apnea) or had or been advised to have kidney dialysis? (Yes – No)

b) Been advised to have surgery, hospitalization, or a diagnostic test (excluding tests related to the Human Immunodeficiency Virus (HIV)) which has not yet been started, completed, or for which results are not known?

c) Ever been diagnosed with Acquired Immune Deficiency Syndrome (AIDS) or AIDS Related Complex (ARC) or tested positive for Human Immunodeficiency Virus (HIV)? (Yes – No)

d) Ever received or been advised to receive an organ or tissue transplant? (Yes – No)

e) Have you ever been diagnosed with Alzheimer’s disease, dementia, Amyotrophic Lateral Sclerosis (ALS), or a terminal illness? (Terminal illness is defined as any illness diagnosed that would reasonably be expected to cause death within 12 months.) (Yes – No)

If you answer “YES” to any of the following questions, your application for coverage will be denied, and you will be advised not to complete or submit the application.

If you answer “NO” to all the questions in the knockout section, you need to answer the questions in the modified section to determine what plan you will qualify for.

You also need to circle the conditions to which you answered “YES.”

PART B: MODIFIED DEATH BENEFIT HEALTH QUESTIONS

If all “No” answers in Part A, complete Part B. Complete all questions and circle the condition(s) to which each “Yes” answer, if any, applies.

a) Within the past two years, have you had, or been diagnosed with, or received or been advised to receive treatment or medication for: Alchohol or drug abuse, or have you used illegal drugs? (Yes – No)

b) Within the past 2 years, had heart or circulatory surgery, or had or been diagnosed as having a heart attack, congestive heart failure, cardiomyopathy, stroke, Transient Ischemic Attack (TIA), aneurysm, or brain tumor? (Yes – No)

c) Within the past 2 years, been diagnosed with or had treatment for a diabetic coma, insulin shock, or had an amputation due to complications of diabetes?

d) Within the past 3 years, been diagnosed with or had treatment for cancer (excluding basal skin cancer)? (Yes – No)

If all “No” answers, complete Part C. Complete all questions and circle the condition(s) to which each “Yes” answer if any, applies.

If you answered “Yes” to any questions in Part B, select Foresters PlanRight with a modified death benefit.

PART C: GRADED DEATH BENEFIT

1. Within the past 2 years, has the proposed insured been diagnosed with, prescribed medication for, or had or been advised to have treatment for:

a) Parkinson’s disease or Systemic Lupus (SLE)? (Yes – No)

b) Cirrhosis of the liver, chronic hepatitis or other liver disorder, kidney failure, or other chronic kidney diseases?

c) Chronic Obstructive Pulmonary Disease (COPD) or emphysema? (Yes – No)

If a “Yes” answer is in Part C, select Foresters PlanRight (With a graded death benefit) in Section 4.

If all “No” answers, select Foresters PlanRight (With a level death benefit) in Section 4.

Note: Your application may still be declined in this section if your prescription history shows medications that are a red flag on the conditions asked in this section. Don’t worry, though. We have other more lenient companies with your medical condition and can get you approved for coverage.

When Does Foresters’ Burial Insurance Make The Most Sense?

The level benefit plan is the best whole life insurance plan they offer. The premium is competitively priced compared with other companies for certain health issues.

A few things that make them stand out is that they accept these conditions for the level death benefit plan.

• Bipolar
• Fibromyalgia
• Insulin-dependent diabetes
• Multiple sclerosis
• Schizophrenia

Does Foresters Have A Same Day Approval Process?

Foresters have an electronic submission process for all life insurance policies. They have an easy application process; getting approved is about a 15-minutes over the phone.

How Can I Get Foresters Burial Insurance Pricing?

Foresters rates are based on your age, gender, health, coverage amount, and the state you live in at the time of application.

FEMALE AGE	$5,000	$10,000	$15,000	$20,000	$25,000	$30,000
50	$14.60	$26.05	$37.50	$48.95	$60.40	$71.85
55	$17.15	$31.16	$45.16	$59.17	$73.17	$87.18
60	$19.28	$35.41	$51.54	$67.67	$83.80	$99.93
65	$22.08	$41.00	$59.93	$78.85	$97.78	$116.71
70	$27.54	$51.92	$76.31	$100.70	$125.08	$149.47
75	$39.11	$75.07	$111.04	$147.00	$182.96	$218.92
80	$57.12	$111.08	$165.05	$219.01	$272.98	$326.94

MALE AGE	$5,000	$10,000	$15,000	$20,000	$25,000	$30,000
50	$17.57	$32.00	$46.42	$60.85	$75.27	$89.70
55	$20.01	$36.86	$53.72	$70.58	$87.43	$104.29
60	$24.17	$45.18	$66.20	$87.22	$108.24	$129.26
65	$28.98	$54.81	$80.64	$106.47	$132.30	$158.13
70	$36.91	$70.66	$104.42	$138.18	$171.94	$205.69
75	$52.92	$102.69	$152.46	$202.23	$252.00	$301.77
80	$74.94	$146.74	$218.53	$290.33	$362.12	$433.91

*Pricing is for illustration purposes only and is subject to change without notice.

How does Foresters Life insurance compare?

If you are open to looking at better insurance companies with better rates, we can offer you some help!

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Common Foresters Company Questions

What Is Forester Financial’s Operational History

Foresters Financial is not your traditional life insurance provider because it is a fraternal benefit society or a not-for-profit organization founded in 1874.

Rather than having stockholders, it has members that receive the benefits of the policies they purchase from the company.

The Independent Order of Foresters writes their life insurance policies. They also offer their members different life insurance and investment products and services to manage their financial future.

In addition to final expense insurance plans, Foresters also provides other products and financial solutions.

These include:

• Life insurance – term and permanent
• Mutual funds
• Retirement annuities
• Savings and planning solutions
• Financial and legal advisory services

FORESTERS MEMBER ADDITIONAL BENEFITS

Aside from insurance and financial protection and guidance, there are many benefits that Foresters members can enjoy, such as:

1. The Legal Link – members can get discounted legal services like family law, estate planning, wills, and homeownership.
2. Emergency Assistance Program – members can avail of short-term, temporary financial assistance if they encounter disaster, significant personal hardship, or large-scale emergency.
3. Orphan Scholarship – children of deceased members will be provided a renewable higher learning scholarship of up to $6,000 per year for up to four years.
4. Orphan Benefit – members’ children will be provided a $900 per month stipend if the member and spouse die.
5. Competitive scholarship Program – the company award almost $2 million per year in renewable tuition to members or their family members.
6. Terminal Illness Loan – members who become terminally ill may be eligible to receive an interest-free loan of up to 75% of the face value of their insurance.
7. Everyday Money – free financial counseling about personal financial matters such as debt management and budgeting
8. Community Grants Program – offers members exclusive access to different hands-on volunteer activities and complimentary events, including sporting events, movie nights, amusement parks, and other fun and family-friendly events.
9. National Charitable Partnerships – members can get involved with the work of National Charitable Partners by volunteering for an activity or hosting their event.

What Is Foresters’ Financial Rating?

Foresters Financial has earned an “A” (Excellent) rating from A.M. Best Company due to its financial strength and timeliness in paying its policyholders’ claims. And the company has consistently held this strong rating for over 22 years.

Does Foresters Have Any Consumer Complaints?

Foresters currently has 29 customer complaints recorded in the National Association of Insurance Commissioners (NAIC) in 2021. Most complaints are regarding policyholder service, claim handling, marketing and sales, and underwriting.

What Should You Know Before Buying Foresters Burial Insurance?

Forester does not accept significant medical or health issues.

Are Any Health Conditions Not Accepted By Foresters?

These health issues are not accepted for first-day coverage with Foresters:

• Activities Of Daily Living (ADLs)
• Alzheimer’s or Dementia
• AIDs, HIV, ARC
• Current Cancer
• Congestive Heart Failure
• Cardiomyopathy
• Dementia
• Dialysis
• Diabetic Amputation
• End-stage Renal Disease
• Hospice
• Nursing Home Confinement
• Organ or Tissue Transplant
• Oxygen Use
• Terminal Illness

How Can I Get Pricing Help Today?

Use our quoting software below to see how Foresters pricing compares to other companies.

• $10,000 to 15,000 is often appropriate for burial needs
• $3,000 to $7,000 is often appropriate for cremation needs

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What Are The Top 10 Questions About Foresters?

Is Foresters Life Insurance still in business?

Yes, Foresters Life is still in business. It’s a member-owned life insurance company that has been in operation since 1874.

Who owns Foresters Life insurance?

Foresters Life insurance is owned by its members.

How can I make Foresters Life insurance online payment?

You can make a Foresters Life insurance online payment by logging in to your account and clicking on the “Payment” tab.

What are the different life insurance products offered by Foresters Life?

Foresters Life offers different life insurance products: Term Life, Whole Life, Universal Life, and Variable Universal Life.

How old do you have to be to apply for Foresters Life insurance coverage?

Foresters Life requires you to be 50-85 years old to qualify for their burial insurance plan.

How much life insurance can you get with Foresters Life insurance?

Foresters Life offers a wide range of life insurance policies, so the amount of coverage you can get will vary depending on your chosen policy.

Is Foresters Life insurance expensive?

Forester life insurance pricing is often comparable with most life insurance companies.

Does Foresters Life insurance accumulate cash value?

Yes, Foresters burial insurance policies accumulate cash value.

How do I cancel my Foresters Life insurance policy?

Contacting the customer service department can cancel your Foresters burial insurance policy.

What are the common terms used when searching for Foresters Insurance

Here are some common terms people use when searching for, or describing Foresters burial insurance Products:
• Foresters Burial Insurance
• Foresters Cremation Insurance
• Foresters Final Expense Insurance
• Foresters Funeral Insurance
• Foresters Term Life Insurance
• Foresters Universal Life Insurance
• Foresters Whole Life Insurance

Sources Cited In This Article:

• Richard Burke. “Colonial Penn Life Insurance Review.” Updated June 24, 2022. https://www.investopedia.com/colonial-penn-life-insurance-review-5075429
• Colonial Penn. “Coverage Options Starting At $9.95 A Month”. Accessed October 12, 2022. https://colonialpenn.com/
• Better Business Bureau. “Colonial Penn Life Insurance Company.” Accessed October 12, 2022. https://www.bbb.org/us/pa/philadelphia/profile/insurance-companies/colonial-penn-life-insurance-company-0241-80001800/customer-reviews
• NAIC. “Results By Complaint Index.” Accessed October 12, 2022. https://www.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=62065&REALM=PROD