All Foresters Financial insurance products are now protected by Assuris

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Foresters Life Insurance Company, a Foresters subsidiary, which issues Term, Non-Par Whole Life and critical illness insurance products, was already a member of Assuris but fraternal organizations like IOF are not required to join.

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Provider:

PR Newswire

Retrieved on:

Wednesday, July 6, 2022

Information

Tags:

Insurance, Life, Foresters Financial, Canada Protection Plan, Industry, Wills, 100 Best Companies to Work For, Independent Order of Rechabites, Name, IOF, Lifelong learning, Health insurance, Tissue paper, Forester, Assuris

Geotags:

ONTARIO, CANADA

Organisation:

THE INDEPENDENT ORDER OF FORESTERS

Summary

Key Points:

Foresters Life Insurance Company, a Foresters subsidiary, which issues Term, Non-Par Whole Life and critical illness insurance products, was already a member of Assuris but fraternal organizations like IOF are not required to join.
Now all new and in-force Foresters life and critical illness insurance policies in Canada are protected by Assuris.
Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.
1Foresters members are insureds under a life or health insurance certificate issued by The Independent Order of Foresters or Foresters Life Insurance Company.

All Foresters Financial insurance products are now protected by Assuris

The Independent Order of Foresters joins Assuris

TORONTO, July 6, 2022 /CNW/ - Foresters Financial™ (Foresters), the fraternal life insurer that's boldly redefining the life insurance industry through innovation, purpose and wellness, today announced that The Independent Order of Foresters (IOF) is the first fraternal life insurer to become a member of Assuris.

Foresters Life Insurance Company, a Foresters subsidiary, which issues Term, Non-Par Whole Life and critical illness insurance products, was already a member of Assuris but fraternal organizations like IOF are not required to join. IOF, which issues Advantage Plus Par Whole Life, has voluntarily joined Assuris to provide consistency across all product lines. Now all new and in-force Foresters life and critical illness insurance policies in Canada are protected by Assuris.

"Foresters is financially strong and is proud to join Assuris to provide members with further peace of mind. This commitment is aligned with Foresters fraternal purpose to enrich the lives of hard-working families and their communities," said Henry Auyeung, President of Foresters Financial Canada and Canada Protection Plan.

Assuris is an independent not for profit, industry-funded compensation organization founded in 1990 with a mission to protect policyholders if their life insurance company fails.

Life Insurance with a Larger Purpose

Bringing a better, new normal to everyday North American families, Foresters offers a suite of unique member benefits, and is redefining the conventional life insurance model. Foresters member benefits including the digital wellness app Foresters Go, opportunities for scholarships, orphan benefits, community volunteer grants, document preparation service to create Wills and related documents, Lifelong Learning, and more.¹

About Foresters Financial

Foresters Financial is redefining the life insurance and individual savings industry across the U.S., Canada and UK by enriching the lives, communities, and overall well-being of its members. Agents and members alike appreciate the turnkey-decisioned product offerings and end-to-end digitized sales processes that make it easy to get life insurance without traditional medical exams. State-of-the-art mobile tools help agents deliver tailored insurance protection to members. Dedicated to its members' well-being, Foresters offers a suite of member benefits and is redefining the conventional life insurance model, bringing improved financial security and overall wellness to everyday North American families. Foresters joined forces with Canada Protection Plan in 2020 to add being a leading life insurance distributor to its Canadian business. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 21 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best.²

About Assuris

Assuris is the not-for-profit organization that protects Canadian policyholders if their life insurance company fails. More details about Assuris' protection and its limits are available at www.assuris.ca or by calling the Assuris Information Centre at 1-866-878-1225.

For information purposes only.

Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.

Canada Protection Plan is a trademark of Canada Protection Plan Inc.

Assuris is a trademark of the Canadian Life and Health Insurance Compensation Corporation.

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¹ Foresters members are insureds under a life or health insurance certificate issued by The Independent Order of Foresters or Foresters Life Insurance Company.

²The A.M. Best rating assigned on July 29, 2021, reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by. A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.

SOURCE The Independent Order of Foresters