Foresters Financial boldly redefines life insurance through innovation, wellness, and purpose: The Independent Order of Foresters
CDC & FDA Daily
2021 OCT 28 (NewsRx) -- By a News Reporter-Staff News Editor at CDC & FDA Daily -- Foresters Financial, the fraternal life insurer recognized by its commitment to enrich family and community well-being, reported 37% year-over-year growth in U.S. life insurance sales in the first three quarters of 2021. This milestone follows its record 23% annual growth in 2020 when Foresters strengthened its digital ecosystem to support virtual sales during the first waves of the COVID-19 pandemic.
Foresters attributes this trajectory to its life insurance with a larger purpose strategy: harmonizing turnkey-decisioned, mobile-enabled products with a suite of socially relevant, wellness-centric member benefits. Deploying this strategy, Foresters is re-defining the conventional life insurance model, and quickly bridging the $25 trillion mortality protection gap(1) to deliver a better, new normal for everyday American families.
“The Foresters commitment to a full suite of non-face-to-face, simplified issue life insurance proved an indispensable asset to agents serving everyday American families through COVID-19,” said Matt Berman, President of Foresters Financial US. “This represented 90% of Foresters total U.S. business in 2020.”
Mr. Berman continued, “Emerging from a pandemic, American families have a renewed focus on life insurance. To compete in a post-COVID world, life insurers need to demonstrate a more proactive value proposition to address today’s protection realities. Now more than ever, fully integrated, holistic life insurance matters. Our mission to integrate wellness into our products and member benefits is proving to be our unique differentiator.”
Complimentary benefits for better quality of life
Foresters has elevated its portfolio of complimentary member benefits, designed to help everyday families enjoy a more prepared and healthier life (and have a little fun along the way).
Most recently, Foresters launched the Foresters Go app. This unique engagement platform co-produced with industry-leading insurtech, dacadoo, rewards members for healthy lifestyles, volunteer activities and community-minded behavior.
Other benefits include the Foresters Competitive Scholarship Program, providing $2,500 per year, for up to four years, to children or grandchildren of insured members, and Community Granting providing up to $2,000 (up to three times a year) for members to organize meaningful activities that address local needs.
Additionally, LawAssure, launched in 2019, is a complimentary legal documentation preparation service for Wills, Power of Attorney, and Health Directives, and lastly MemberDeals offers significant savings on thousands of products, services, events and experiences.
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