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: Feb 24, 2021

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Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from top life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

Company Details
Address: 2221 Kenmore Ave Suite 108
City: Buffalo
State: NY
ZIP Code: 14207
Phone Number: 800-828-1540
Year Founded: 1913
AM Best Rating: B+
Company Rating 0 (0 reviews)

Foresters Financial life insurance has been a popular product for over 100 years. Foresters offers cheap term life insurance, whole life insurance, and universal life insurance options.

Choosing the right life insurance provider is important. Here we’ll summarize the Foresters Financial reviews, ratings, and how to get the best rates from Foresters Financial.

Excited to learn more about Foresters Financial life insurance? Start shopping today using our free quote tool above to get instant rates from top life insurance companies. Don’t wait.

What type of insurance products are offered by Foresters?

Foresters Financial might mislead people with their name. With a name that includes financial, you might think they manage IRAs, stocks, or other services.

What products and financial services are offered? Foresters offers term, whole, and universal life insurance products. They also sell two annuities to serve as investment resources. Foresters Financial services are limited primarily to death benefits.

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Foresters’ term life insurance policies are available in 10, 15, 20, 25, and 30-year terms. These have level premiums but no cash value component. Whole and universal life insurance with Foresters will build cash value.

Cash value on a life insurance policy is implemented so that policyholders build a savings account, in a sense, as they pay their monthly premiums. This cash value can be withdrawn in the future in most cases.

The primary difference between whole and universal life insurance is that whole life insurance has level premiums over the course of your life or payment period. Universal life has flexible premium payments.

If you’re simply looking for affordable Foresters Financial life insurance, a term life insurance policy is your best option. If you’re really looking to create financial security, whole or universal life insurance might be better.

Everyone has slightly different needs. It’s important to learn the benefits of term vs whole life insurance.

Are Foresters’ life insurance rates affordable?

Before you buy Foresters Financial life insurance or annuities, you’ll want to be sure you aren’t wasting any money. There are tons of competitors, which gives you the upper hand when buying cheap life insurance.

How much does life insurance from Foresters cost? Let’s take a look.

Foresters Financial 20-Year Term Life Insurance Rates by Age, Gender, and Coverage Value
Age and Gender$100,000$250,000$500,000
25-Year-Old Male$9.19$13.78$21.44
25-Year-Old Female$8.31$11.59$17.06
35-Year-Old Male$9.89$15.53$24.94
35-Year-Old Female$9.28$14.00$21.88
45-Year-Old Male$16.45$31.94$57.75
45-Year-Old Female$14.00$25.81$45.50
55-Year-Old Male$32.64$72.41$138.69
55-Year-Old Female$25.55$54.96$103.25
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You’ll see above that the Foresters Financial life insurance rates are reasonable, especially at a younger age. Women typically have lower life insurance rates than men, which is noticeable here as well.

Many companies charge a steep premium when going from $250,000 to $500,000 in coverage, but Foresters has a mild increase in premium which is great if you’re looking for extra coverage.

How much does $250,000 in life insurance cost? Well, that depends on the company. So, how does Foresters’ life insurance compare to other top companies?

Comparison of Foresters Financial Life Insurance Rates vs Other Companies
Age and Gender20 Year - $250,000 Foresters Financial Monthly Rates20 Year - $250,000
State Farm Monthly Rates
20 Year - $250,000
MassMutual Monthly Rates
20 Year - $250,000
John Hancock Monthly Rates
20 Year - $250,000
Prudential Monthly Rates
Age 30 - Male$14.00$24.59$15.23$14.79$20.35
Age 30 - Female$12.91$18.72$13.70$13.74$17.28
Age 40 - Male$20.56$33.72$20.68$22.09$24.50
Age 40 - Female$18.59$28.49$17.83$19.94$22.53
Age 50 - Male$46.59$69.59$47.63$49.24$45.50
Age 50 - Female$36.97$54.59$36.33$38.56$40.03
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When comparing Foresters Financial to other top life insurance companies, you’ll see that they have favorable rates. If you simply want affordable life insurance, Foresters Financial could be a good choice.

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Is Foresters Financial a good company?

Foresters might not be as well-known as other companies like MetLife, State Farm, or Allstate, but they are still considered a leading life insurance company in the United States.

Which insurance company is best for life insurance? We’ll take a look at Foresters’ financial stability and customer service ratings to provide greater insight into which company is best for you.

Does Foresters have positive reviews and ratings?

Before you start worrying about getting the best Foresters Financial life insurance quotes, you’ll want to be sure the company is worth trusting.

Operating under Foresters Life Insurance and Annuities Company, the NAIC Complaint Index shows zero complaints over the past two years.

Foresters Financial ratings have been strong over the years but were downgraded by A.M. Best in 2020. The downgrade is in response to a sale or merger that is anticipated to occur.

Foresters Financial is also not ranked by JD Power, so we can’t compare them for consumer satisfaction against top life insurance market shareholders.

The Better Business Bureau rates Foresters Financial as an A+ company. They only have 8 complaints over the past two years but some of those complaints remain unresolved.

Overall, Foresters Financial ratings and reviews suggest that the company is trending downwards.

What is the history of Foresters?

What is Foresters? Where did they come from? Foresters, or Foresters Financial, is a life insurance provider that has served the United States for nearly 150 years. The history of Foresters Financial started in 1874 and was founded on helping others during catastrophic events.

Their website shares an inspiring story on Dr. Oronhyatekha who led an initiative to help San Francisco residents that had been impacted by an earthquake.


This company was founded as a feel-good company and appears to have stayed true to that persona. Who owns Foresters Financial? James (Jim) Boyle took over Foresters just a few years ago after gaining experience with competitor John Hancock.

More About Foresters Financial

Foresters Financial has some pros and cons, like any life insurance company. Sometimes it’s the little things that can make or break a company. Making claims or canceling policies is another small detail that we look into.

How can I file a claim? Filing a claim with Foresters Financial can be done two ways, by phone or by mailing their claims form. You’ll need some basic information such as:

  • Name of the deceased
  • Your contact information
  • Date the deceased passed
  • Cause of death

You can make matters even easier by having the death certificate, policy numbers, and similar details to prove the facts about the deceased. Sadly, they don’t do online claims.

How do I cancel my Foresters life insurance policy? To cancel or surrender your life insurance policy with Foresters Financial, you’ll need to contact their customer service or complete the form listed on their website.

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The surrender form is a four-page pdf that needs to be mailed to Foresters. You will have to pay taxes on any amount that is earned or returned from the policy.

After looking at ratings, reviews, and more during this Foresters Financial life insurance review, it’s important to highlight the good and the bad.

Pros of Foresters Financial

  • Cheap term life insurance
  • Various life insurance options
  • Very few customer complaints

Cons of Foresters Financial

  • Declining financial strength ratings
  • Low market share
  • Limited online features

Foresters Financial has been a life insurance provider for many years. They are good for cheap term life insurance but there are growing concerns about their financial future.

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Foresters Financial Life Insurance: The Bottom Line

If you were wondering how to find the best quotes on life insurance coverage from Foresters Financial, you’ve learned that they have competitive term life insurance rates.

Before you rush to buy Foresters Financial life insurance, but sure to shop rates from other industry leaders. Get multiple quotes in just a few clicks using our FREE quote tool below.