Burial Insurance Topics
Foresters Final Expense Insurance
Foresters Financial has been in business for over 140 years, and it currently offers life insurance, annuities, mutual funds, and a range of financial planning and saving services to customers across the United States – learn more about Foresters Final Expense Insurance below.
Foresters’ PlanRight series of whole life insurance plans offer coverage for burial and final expenses up to age 121. The company also guarantees its premiums, which means that your monthly payments will never rise above the amount you agree to at the beginning of your insurance coverage. Foresters also offers what’s known as a common carrier accidental death rider. This means if you die of accidental injuries while riding as a fare-paying passenger on a bus, train, or aircraft, your beneficiary will receive extra death benefits. Foresters’ death benefits start at $2,000 and top out at $35,000, depending on your age and the plan you select. The company requires its final expense customers to be between the ages of 50 and 85.
Do I have to use burial insurance benefits on funeral expenses?
Once the policy holder of a final expense plan passes away, the beneficiary of said policy may use the funds in any way they desire. Most beneficiaries use part or all of the funds for burial expenses, which currently average around $10,000 in the United States. That said, burial expense benefit payouts may be used for any other loan, debt, expense, bill, or purchase.
How do I apply for Foresters final expense insurance?
The quickest way to apply for burial or final expense insurance is to apply directly on an insurance company’s website. In many cases, you’ll need to answer a simple medical questionnaire. After you’ve completed this step and provided the company with your personal and billing information, you may be able to sign up for burial insurance immediately. If you’d feel more comfortable talking to a live person, you may call the insurance company of your choice and speak with an agent. These agents are licensed and will be able to assist you in selecting the most appropriate burial insurance policy for your specific needs.
Do burial insurance premiums change?
Most burial insurance policies feature guaranteed premiums. That means that your payments will remain the same until the benefit is paid out. Premiums are calculated based on your age and any health issues you may have. Then once you have accepted an offered premium, it will not change over the life of your insurance policy.
Some insurance companies do offer plans with staggered payout options, though, so you should read the fine print (or ask an agent for clarification) to be sure you understand exactly how your death benefit will be paid. For example, if you pass away before a certain amount of time has elapsed, your beneficiary may not receive 100% of the advertised payout.
How to get started
If you are already a Foresters Final Expense Insurance customer, you should contact your local office and inquire about a final expense policy. If you are a prospective customer, you can connect with an agent on Foresters’ website. You may also shop for policies using our comparison tool by clicking on the following link.
Financial Strength Ratings
AM Best – A, Stable outlook
Moody’s – No rating
Standard & Poor – No rating
Company contact info
PO Box 179
Buffalo, NY 14201
(800) 828-1540; Call from 8:00 a.m. to 8:00 p.m. Eastern Monday – Friday