Foresters Insurance Review & Ratings (2024)

Find out what sets Foresters Insurance apart with real user ratings, an A.M. Best rating of A, and competitive quotes. Learn about their customer-centric approach, affordable rates, and charitable initiatives. Explore the company's history, mission, coverage options, and available discounts. Gain insights from customer reviews to make an informed decision.

UPDATED: Nov 27, 2023Fact Checked

Laura Berry

Former Licensed Insurance Producer

Laura Berry has experience as a licensed producer selling life, health, and property insurance coverage for both Allstate and State Farm. She has dedicated many hours to helping her clients understand the insurance marketplace so they could find the best car, home, and life insurance products for their circumstances. While she currently helps businesses take advantage of the federal R&D tax...

Former Licensed Insurance Producer

Schimri Yoyo

Licensed Agent & Financial Advisor

Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity.  Schimri is an educator eager to assist individuals and families in ...

Licensed Agent & Financial Advisor

UPDATED: Nov 27, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

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

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above 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 insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

UPDATED: Nov 27, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

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

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

UPDATED: Nov 27, 2023Fact Checked
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Foresters Insurance

Average monthly rate for good drivers:

N/A

A.M. Best rating:

A (Excellent)

Complaint level:

Low

Pros

  • Customer-centric approach
  • Affordable rates
  • Charitable initiatives
  • Range of insurance products
  • Competitive quotes

Cons

  • Limited online account management system
  • Availability of some insurance products not specified

Final Verdict: Review of Foresters Insurance

Foresters Insurance is a fraternal benefit society that provides a range of insurance products, including life, health, and auto insurance, to members in all 50 states in the United States, as well as in Canada and the United Kingdom.

The company has a strong history of supporting various charitable causes and providing social and educational opportunities to its members. Foresters Insurance is committed to providing affordable insurance solutions to its members and offers a variety of discounts and benefits to help them save money.

While the company has some limitations, such as a limited online account management system and availability of some insurance products, Foresters Insurance generally has a positive reputation among its customers for its excellent customer service, easy claims process, and affordable rates.

What You Should Know About Foresters Insurance

Welcome to our comprehensive guide on Foresters Insurance. In this article, we delve into the various aspects of Foresters Insurance, including its history, mission, coverage options, customer reviews, and more.

Discover why Foresters Insurance stands out in the industry with its customer-centric approach, competitive rates, and commitment to financial security. Interesting Attributes of Foresters Insurance:

  • Foresters Insurance is a fraternal benefit society that focuses on providing financial security and support to its members and their families.
  • The company has been in business for over 145 years and is known for its customer-centric approach to insurance, offering products and services designed to meet the unique needs of its customers.
  • Foresters Insurance is committed to giving back to the community through its charitable initiatives, including its Foresters Community Grants program, which provides funding to support local volunteer efforts.

We explore the strengths and weaknesses of Foresters Insurance, providing valuable insights to help you make an informed decision. To ensure you get the best insurance rates tailored to your needs, we encourage you to enter your zip code and compare quotes from the top insurance providers. Take a proactive step towards protecting your future with Foresters Insurance and secure the coverage you deserve.

Foresters Insurance History and Mission

Foresters Insurance was founded in 1874 as a fraternal benefit society with the goal of providing financial security and support to its members and their families. The company was originally called the Ancient Order of Foresters and was established in England before expanding to the United States. Today, Foresters Insurance is a not-for-profit organization that operates as a fraternal benefit society.

This means that the company is owned by its members and operates for their benefit, rather than for the benefit of shareholders. As a result, Foresters Insurance is able to offer products and services at competitive rates while remaining committed to its mission of providing financial security and support to its members and their families.

The company’s mission is to enrich the lives of its members and their communities by providing access to a range of insurance products and services that help protect their financial future. Foresters Insurance is committed to providing excellent customer service and has a reputation for being a customer-centric organization that puts its members first.

Additionally, the company is committed to giving back to the community through its charitable initiatives, including its Foresters Community Grants program, which provides funding to support local volunteer efforts.

Foresters Insurance Coverage Options

Foresters Insurance offers a range of insurance products to its members, including:

  • Life insurance: Foresters Insurance offers a variety of life insurance options to fit the needs of its members, including term life insurance, whole life insurance, and universal life insurance. Members can choose the coverage that best suits their individual needs, with options for both individual and joint coverage.
  • Retirement and investment products: Foresters Insurance offers a range of products and services to help members plan for their financial future. This includes annuities, which provide a guaranteed stream of income in retirement, as well as mutual funds and other investment options.
  • Accident insurance: Foresters Insurance also offers accident insurance, which provides coverage in the event of an accidental injury. This can help offset the cost of medical bills and other expenses related to the injury.

States Where Foresters Insurance Is Available

Foresters Insurance is available in all 50 states in the United States, as well as in Canada and the United Kingdom. This wide coverage area means that Foresters Insurance is accessible to a large number of people and can provide insurance solutions to members across the country.

As a fraternal benefit society, Foresters Insurance is committed to serving its members and their communities. The company has a long history of supporting various charitable causes and providing social and educational opportunities to its members.

With its broad coverage area and commitment to providing affordable insurance solutions, Foresters Insurance is a reliable choice for individuals and families looking for comprehensive insurance coverage. To find out if Foresters Insurance is available in your state, you can follow these six steps:

    1. Visit the Foresters Insurance website.

    1. Click on the “Products” tab at the top of the page.

    1. Select the type of insurance you are interested in, such as life insurance or auto insurance.

    1. Scroll down to the bottom of the page and click on the “Get a Quote” button.

    1. Enter your ZIP code in the field provided and click on the “Get a Quote” button.

    1. The website will provide you with a list of insurance products available in your state, along with information on how to contact a financial representative to learn more.

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Foresters Insurance Rates Breakdown

The cost of insurance coverage from Foresters Insurance varies depending on a number of factors, including the type of insurance, the coverage level, and individual factors such as age, health, and location. However, Foresters Insurance is committed to providing affordable insurance solutions to its members and offers competitive rates and a variety of discounts to help members save even more.

Life insurance policies from Foresters Insurance can be customized to fit the needs and budget of individual members. Term life insurance policies provide coverage for a set period of time, such as 10, 20, or 30 years, and typically have lower premiums than whole life or universal life policies. Whole life and universal life policies provide coverage for the member’s lifetime and can also build cash value over time.

The cost of life insurance coverage from Foresters Insurance also depends on the coverage amount, with higher coverage amounts resulting in higher premiums. For example, a healthy 35-year-old male could expect to pay around $25 per month for a 20-year term life insurance policy with a coverage amount of $500,000. However, rates can vary widely based on individual factors and the specific policy chosen.

Foresters Insurance Discounts Available

Foresters Insurance offers a variety of discounts to help its members save money on their insurance premiums. These discounts include:

  • Multi-policy discount: Members who have more than one insurance policy with Foresters Insurance can save on their premiums by bundling their policies. This discount applies to both life insurance and non-life insurance policies.
  • Healthy living discount: Members who lead a healthy lifestyle can qualify for a discount on their life insurance premiums. This discount is available to members who meet certain health and wellness criteria, such as having a healthy body mass index (BMI), normal blood pressure, and cholesterol levels within a healthy range.
  • Non-smoker discount: Members who do not smoke can qualify for a discount on their life insurance premiums. This discount recognizes that non-smokers have a lower risk of developing certain health conditions and are therefore less likely to file a claim.
  • Charity donation discount: Members who donate a portion of their policy’s death benefit to a qualifying charity can receive a discount on their premiums. This discount encourages members to give back to their community while also reducing their insurance costs.
  • Loyalty discount: Members who have been with Foresters Insurance for a certain length of time may be eligible for a loyalty discount. This discount rewards members for their long-term commitment to the company.
  • Safe driving discount: Foresters Insurance offers a safe driving discount to its auto insurance customers. Members who maintain a safe driving record, with no at-fault accidents or moving violations, can qualify for a discount on their premiums.

Navigating Foresters Insurance Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Foresters Insurance prides itself on offering a straightforward and hassle-free claims process for its policyholders. They provide multiple convenient options for filing a claim, including online submissions, over-the-phone assistance, and mobile app functionality.

This flexibility ensures that policyholders can choose the method that best suits their needs and preferences. Whether you prefer the ease of submitting a claim online or the convenience of using their mobile app, Foresters Insurance strives to make the process as user-friendly as possible.

Average Claim Processing Time

One crucial aspect of any insurance company’s performance is the speed at which claims are processed. Foresters Insurance is committed to providing efficient claim processing to ensure that their policyholders receive prompt assistance during their times of need.

While specific processing times may vary depending on the complexity of the claim, Foresters Insurance aims to expedite the process to deliver swift resolutions to their customers.

Customer Feedback on Claim Resolutions and Payouts

Foresters Insurance values customer feedback and continuously strives to improve its claim resolution and payout procedures. Customer reviews and testimonials often highlight the company’s commitment to addressing claims fairly and promptly.

Policyholders appreciate the company’s dedication to delivering on its promises and providing financial support when it matters most. Hearing from satisfied customers is a testament to Foresters Insurance’s commitment to ensuring that their policyholders have a positive claims experience.

Unveiling Foresters Insurance Digital and Technological Advancements

Mobile App Features and Functionality

Foresters Insurance recognizes the importance of technology in today’s insurance landscape. Their mobile app is designed to provide policyholders with convenient access to their insurance information, including policy details, payment options, and the ability to file claims directly from their smartphones.

The app’s user-friendly interface and robust features enhance the overall customer experience by putting essential insurance tools at policyholders’ fingertips.

Online Account Management Capabilities

In addition to the mobile app, Foresters Insurance offers a comprehensive online account management system. This platform allows policyholders to manage their policies, make payments, view policy documents, and update personal information with ease.

The online account management system is designed to streamline interactions between policyholders and the company, offering a convenient and efficient way for customers to stay in control of their insurance policies.

Digital Tools and Resources

Foresters Insurance understands that informed policyholders are empowered policyholders. To this end, they provide a wealth of digital tools and resources on their website. These resources include educational materials, articles, and calculators to help policyholders make informed decisions about their insurance needs.

Whether you’re exploring coverage options or seeking to understand the financial aspects of insurance, Foresters Insurance’s digital tools are readily available to assist you.

How Foresters Insurance Ranks Among Providers

Foresters Insurance holds a competitive position among insurance providers, distinguishing itself through a combination of customer-centric policies, affordable rates, and a commitment to charitable initiatives. The company’s A.M. Best Rating of A reflects a strong financial standing, assuring customers of its reliability.

Foresters Insurance stands out with its diverse range of insurance products, including life, health, and auto insurance, catering to the varied needs of its members. The competitive quotes offered by Foresters contribute to its appeal, providing members with cost-effective solutions for their insurance needs.

The customer feedback received by Foresters Insurance is generally positive, with commendations for its excellent customer service and affordable rates. However, it’s important to note that the company’s online account management system has limitations, which may be a consideration for those who prioritize digital accessibility.

In terms of geographical coverage, Foresters Insurance is available in all 50 states in the United States, as well as in Canada and the United Kingdom. This extensive coverage underscores the company’s commitment to serving a broad audience and providing financial security to individuals and families across different regions.

While Foresters Insurance has some limitations, such as a limited online account management system and availability of some insurance products, its overall positive reputation, financial stability, and commitment to its mission make it a notable choice among insurance providers.

Foresters Insurance Customer Reviews

Foresters Insurance has a generally positive reputation among its customers, with many customers praising the company’s customer service and affordable rates. Here is an overview of some of the key strengths and weaknesses reported by Foresters Insurance customers:

Strengths:

    • Excellent customer service: Many customers have reported positive experiences with Foresters Insurance customer service representatives, noting that they are knowledgeable, friendly, and responsive.

    • Affordable rates: Foresters Insurance is often praised for its competitive rates, with many customers reporting that they were able to find affordable insurance coverage that fits their budget.

    • Easy claims process: Several customers have reported that Foresters Insurance has a straightforward and efficient claims process, with fast payouts and minimal paperwork required.

Weaknesses:

    • Limited online account management: Some customers have reported frustration with the limited functionality of Foresters Insurance’s online account management system, which does not offer as many features as some other insurance providers.

  • Limited availability of some insurance products: While Foresters Insurance offers a range of insurance products, some customers have reported that certain types of coverage, such as pet insurance, are not available in all states.

Frequently Asked Questions

What is Foresters Insurance?

Foresters Insurance is a financial services company that offers life insurance, retirement planning, and investment products to individuals and families.

How is Foresters Insurance rated by customers?

Foresters Insurance has received generally positive ratings from customers and industry experts. The company has an A rating from A.M. Best, which is a credit rating agency that evaluates the financial strength of insurance companies.

What types of life insurance does Foresters Insurance offer?

Foresters Insurance offers several types of life insurance policies, including term life insurance, whole life insurance, and universal life insurance.

Can I customize my life insurance policy from Foresters Insurance?

Yes, you can customize your life insurance policy from Foresters Insurance to fit your specific needs. You may be able to add riders or endorsements to your policy, which can provide additional coverage for specific risks or events.

How much does life insurance from Foresters Insurance cost?

The cost of life insurance from Foresters Insurance varies depending on several factors, including the type of policy that is purchased, the amount of coverage that is needed, and the age and health of the insured person.

How can I get a quote for life insurance from Foresters Insurance?

To get a quote for life insurance from Foresters Insurance, you can visit their website and use their online quote tool. You can also contact a local agent or broker who works with the company.

Does Foresters Insurance offer any discounts on life insurance?

Yes, Foresters Insurance offers several discounts on life insurance policies. These may include discounts for non-smokers, healthy individuals, and members of certain organizations.

How long does it take to get approved for life insurance from Foresters Insurance?

The time it takes to get approved for life insurance from Foresters Insurance depends on several factors, including the type of policy that is purchased and the underwriting process. In general, it can take anywhere from a few days to several weeks to get approved for coverage.

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Laura Berry

Former Licensed Insurance Producer

Laura Berry has experience as a licensed producer selling life, health, and property insurance coverage for both Allstate and State Farm. She has dedicated many hours to helping her clients understand the insurance marketplace so they could find the best car, home, and life insurance products for their circumstances. While she currently helps businesses take advantage of the federal R&D tax...

Former Licensed Insurance Producer

Schimri Yoyo

Licensed Agent & Financial Advisor

Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity.  Schimri is an educator eager to assist individuals and families in ...

Licensed Agent & Financial Advisor

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

Free Insurance Comparison

Compare quotes from the top insurance companies and save!

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