Foresters Financial said it is launching Your Term1 a competitive term life product that combines affordable protection with charitable giving through its Charity Benefit provision.
The launch is part of a new strategy to refine and grow Foresters product portfolio in the U.S. over the next decade.
"At Foresters Financial, we believe in enriching lives and building strong communities, and our clients and members share this passion for giving back," said Knut Olson, President, North American Life Insurance and Annuity at Foresters Financial. "That's why we're so excited to launch Your Term as it upholds our commitment to providing American families with quality, affordable protection products that are aligned with their values."
According to a media release, Your Term is designed to appeal to the family market and is highly competitive with rates in the top five2 amongst the competition for medically underwritten business. And unlike many other term products on the market, Your Term offers non-medical3 face amounts up to $400,000 with no life-event or mortgage requirements and no saliva collection is required.
In addition, insured clients will be Foresters members and have access to Foresters Member Benefits6 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.
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