Foresters Financial Enhances Its Advantage Plus Whole Life Insurance with the Inclusion of Its Unique Charity Benefit Provision
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Advantage Plus is a participating whole life product which offers affordable permanent protection, guaranteed cash value growth, and the potential for dividends1. The enhancement of Advantage Plus is part of an ambitious strategy to significantly refine and grow Foresters product portfolio in the
The new Charity Benefit provision2 makes it easy for Advantage Plus certificate holders to make a difference. When a claim is paid, Foresters will donate an additional 1% of the face amount to the owner's designated registered charity so they can support their favorite cause. This provision is automatically included, does not require additional premiums and does not impact the value of the death benefit paid to the beneficiaries. The payment is made as a donation in the name of the insured and will not impact their estate, and may be eligible for a charitable tax deduction from the charity3.
The Paid-up Additions Rider (PUAR) has been enhanced to help clients boost their cash value and death benefit. Maximum underwriting limits for PUAR payments have been doubled to
Advantage Plus has also decreased the minimum premium for juveniles, with monthly premiums now starting at only
On top of these great enhancements, Advantage Plus continues to automatically include up to three additional riders for no additional premium; the Accelerated Death Benefit Rider (also known as a living benefit), the Family Health Benefit Rider and a Common Carrier Accidental Death Rider. For an additional premium, Advantage Plus also offers a variety of riders to increase death benefit or provide living benefits: 10 and 20-year Term Riders, Guaranteed Insurability Rider, Children's Term Rider, Accidental Death Rider, Waiver of Premium Rider, and Disability Income Rider (Accident Only).
Designed to appeal to middle market families, Advantage Plus is highly competitive amongst the competition for medically underwritten business, with coverage as low as
"We've improved our market leading product to offer more customizable retirement savings and protection strategies for our customers," said
In addition, insured clients will be Foresters members4 and have access to Foresters Member Benefits for the primary insured and their immediate family members. These benefits, many of which are complimentary, currently include competitive academic scholarships, toll-free financial counseling and discounted legal services as well as opportunities to give back through community volunteering opportunities.
The Advantage Plus enhancements are available as of
Product Footnotes
Foresters Advantage Plus and its riders may not be available or approved in all states and are subject to underwriting approval, limitations, contract terms and conditions, and state variations. Refer to the
Foresters Advantage Plus and its riders are filed under the form numbers listed below, where "XX" represents your state's postal abbreviation, as applicable. Foresters Advantage Plus: WL-XX01-2017 Accidental Death Rider: WL-ADR-XX01-2011 Children's Term Rider: WL-CTR-XX01-2011 Common Carrier Accidental Death Rider: WL-CCADR-XX01-2011 Family Health Benefit Rider: WL-FHB-XX01-2011 Flexible Paid-Up Additions Rider: WL-FPUAR-XX01-2017 Guaranteed Insurability Rider: WL-GIR-XX01-2011 Single Paid-Up Additions Rider: WL-SPUAR-XX01-2017 Term Rider: WL-TR-XX01-2012 Waiver of Premium Rider: WL-WPR-XX01-2011. 1 Dividends are not guaranteed. Past dividends are not an indicator of future dividend performance.2 The maximum payment under this provision is
Foresters Financial and Foresters are trade names and trademarks of The
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