Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Apr 29, 2021

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The Facts of Life

  • Foresters Financial has lower monthly rates
  • Foresters Financial offers a greater variety of policy options
  • Both companies are rated the same by A.M. Best

Accordia Life and Foresters Financial offer various life insurance policies to customers throughout the United States. Comparing Accordia Life vs. Foresters Financial shows that the latter has lower monthly rates but Accordia Life has more ratings available.

While they both have permanent and term life insurance options, Foresters Financial has a greater variety of choices.

Before jumping into this Accordia Life vs. Foresters Financial review, enter your ZIP code to find the best life insurance quotes in your area.

Accordia Life vs. Foresters Financial: What are their monthly rates?

Monthly rates are often a determining factor when comparing two companies. Accordia Life insurance rates and Foresters Financial life insurance rates are lower than many competitors.

The following charts will allow you to compare Accordia Life vs. Foresters Financial life insurance rates by gender and age.

Accordia Life vs. Foresters Financial: Male 20-Year Term $250,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly RatesForesters Financial Average Monthly Rates
Age 30 $16.91$13.56
Age 40 $23.36$18.81
Age 50 $56.07$42.66
Age 60$153.53$114.84
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Now let’s look at the same information for females.

Accordia Life vs. Foresters Financial: Female 20-Year Term $250,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly RatesForesters Financial Average Monthly Rates
Age 30$15.58$12.47
Age 40 $20.69$16.63
Age 50$41.83$31.94
Age 60$101.24$85.97
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As you can see, Foresters Financial offers lower rates than Accordia Life and female rates are lower than male rates.

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Accordia Life vs. Foresters Financial: What are their ratings?

A life insurance company’s financial strength helps to determine its quality of service. Life insurance providers are rated by credit rating agencies, like A.M. Best, Standard and Poor’s (S&P), Fitch, and Moody’s.

These Accordia Life and Foresters Financial reviews determine the likelihood a payout will occur when a claim is filed.

Accordia Life has been rated an “A” by A.M. Best and Fitch, an “A-” by S&P, and an “A3” by Moody’s. None of these ratings are at the top of the scale but are considered strong ratings.

The rating provided by S&P says that the company is financially strong but might have trouble providing a payout under difficult economic conditions.

Foresters Financial received an “A” by A.M. Best and S&P. The company was not rated by either Fitch or Moody’s.

While rated the same by A.M. Best, these ratings show that Foresters Financial was rated better by S&P. Despite the differences, these ratings show that both companies are strong financially. This means that they will likely not have any trouble providing a payout when a claim is filed.

Accordia Life vs. Foresters Financial: What products are offered?

Accordia Life and Foresters Financial offers term life, universal life, and whole life insurance. While they both offer the same general types of insurance, the specifics of the policies differ. Learning the specific policies they offer might help you decide between these two well-respected life insurance providers.

Accordia Life offers term life insurance in 10-, 15-, 20-, 25-, and 30-year terms. The lowest value available for term life is $50,000, half of the lowest value for most competitors. This is a good option for those that are looking for less coverage or lower monthly rates.

In addition to the term life options, Accordia Life also offers whole life, universal life, and indexed universal life coverage. Whole life offers fixed premiums, ensuring that your monthly payments won’t change.

Universal life has flexible premiums and indexed universal life has a cash value that depends on popular stock indexes.

Similar to Accordia Life, Foresters Financial offers term life in 10, 15, 20, 25, and 30-year terms. A unique option by this company is accidental death term insurance.

As the name suggests, this policy protects from any accidental deaths. While accidental death is commonly offered as a rider, rarely is it offered as a term life policy.

Foresters Financial also offers whole life, universal life, and variable universal life insurance. Variable universal life insurance allows for the building of a cash value, which can be invested in a separate account. In this way, this type of permanent life insurance is similar to mutual funds.

Something Foresters Financial offers that Accordia Life doesn’t is final expense insurance. Called Foresters PlanRight, final expense insurance puts money away from funeral expenses.

This decreases the financial burden on family members as they won’t have to pay funeral costs.

Accordia Life vs. Foresters Financial: What riders are available?

Most life insurance providers offer options that can be added to a policy. Referred to as riders, these options allow for greater coverage than you would receive with a basic policy.

Some riders will be automatically added to a policy at no extra cost but most are optional riders and can be added for an additional premium.

The most common option is an accelerated death benefits rider. This allows a policyholder with a chronic, critical, or terminal illness to access a portion of their death benefit before death.

Accordia Life and Foresters Financial include an accelerated death benefits rider with their universal life policies.

In addition to the accelerated death benefits rider, various optional rides are available. Optional riders offered by Accordia Life include:

  • Primary insured
  • Additional insured
  • Guaranteed purchase options
  • Children’s insurance
  • Accidental death benefit
  • Waiver of monthly deduction
  • Waiver of a specified premium
  • Wellness for life

Optional riders offered by Foresters Financial include:

  • Accidental death
  • Guaranteed insurability
  • Waiver of premium
  • Owner waiver of premium
  • Children’s term life insurance
  • Additional Purchase Option

Accordia Life and Foresters Financial offer a greater variety of riders than most competitors.

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Accordia Life vs. Foresters Financial: History

The Accordia Life and Annuity Company was originally called Aviva USA and owned by Athene. In 2013, Global Atlantic purchased the company and renamed it.

Since then, Accordia Life has been the life insurance subsidiary of Global Atlantic. The parent company has various other subsidiaries that offer different types of insurance.

Foresters Financial Services was founded in 1874. The company has changed hands multiple times over the past 10 years, having been purchased in 2020 by Nassau Financial Group.

The company is headquartered in Toronto, Canada, and maintains its status as a fraternal benefit society, making it a not-for-profit organization.

Accordia Life vs. Foresters Financial: The Bottom Line

Should you buy Accordia Life vs. Foresters Financial life insurance? Accordia Life and Foresters Financial have similar ratings and monthly rates but differ in the policies offered. Foresters Financial has been rated slightly higher by S&P, has lower rates, and has more policy options.

Comparing rates will help decide between affordable Accordia Life vs. Foresters Financial life insurance quotes.

Now that you’ve compared Accordia Life vs. Foresters Financial, enter your ZIP code to find the top life insurance rates in your area.

Accordia Life vs. Foresters Financial: Frequently Asked Questions

Here are some frequently asked questions about Accordia Life and Foresters Financial life insurance.

#1 – How do you choose the right policy?

To choose the right policy for you, consider the length of coverage needed and the people that rely on your income. This will ensure your loved ones are covered until they can provide for themselves.

#2 – Can I buy Accordia Life insurance and buy Foresters Financial life insurance online?

Accordia Life allows customers to purchase policies, make changes, and make payments online. Foresters Financial members must contact an agent to purchase a policy but can make payments and policy changes online.

#3 – What are my payment options?

Accordia Life and Foresters Financial allow payment by credit card, debit card, automatic bank draft, and check.