Guaranteed Lifetime Protection for the Middle Market
Simplified Issue On Face Amounts Up to $250,000
Unique Charity Rider Simplifies Giving
TORONTO, June 30, 2008 (PRIME NEWSWIRE) -- Foresters(tm), a leading fraternal benefit society, today launched Armor(1) universal life insurance that offers lifetime lapse protection to help its U.S. members and prospective members in the middle market achieve financial security. The guarantee of lifetime protection helps address the needs of those consumers who are concerned with outliving their life insurance coverage.
"Foresters Armor universal life insurance was designed with our clients' changing needs in mind," explained Christopher Pinkerton, President, Foresters U.S. Division. "With Armor's optional living benefits, middle Americans can protect their families from the financial impacts of disability during their productive years. Foresters Armor provides adjustable death benefit guarantees with the potential of accumulating cash value. Foresters also offers complimentary benefits of membership+ to eligible Armor insureds."
Foresters Armor offers universal life insurance protection on a simplified issue basis for face amounts up to $250,000, which is unique in the industry. Also attractive to the middle market, Armor provides lifetime guarantees with predictable premiums.
"It's an ideal time to be in market with a universal life insurance product like Foresters Armor," said Andy Albright, President and CEO of National Agents Alliance. "Foresters Armor allows consumers to plan for their families' financial needs - lifestyle protection and retirement planning. And with the Armor solution, consumers can select optional riders to enhance coverage or provide valuable living benefits."
Customization with optional riders
Armor's leading Charity Rider(2) provides members with an innovative way to make a difference in their community by leaving a life insurance "gift" to their favorite charity. The Charity Rider provides an additional coverage of 5%, 10% or 15% of the initial face amount, where the beneficiary is a legally registered charity in the U.S.
With inflation rates on the rise, the Cost of Living Adjustment (COLA) Rider(3) addresses consumers' ongoing concern of increasing costs of living. The COLA Rider provides for an automatic yearly increase in face amount, without evidence of insurability, based on the Consumer Price Index adjustment factor.
Armor's full suite of optional riders:
* Cost of Living Adjustment (COLA) Rider * Guaranteed Purchase Option (GPO) Rider(4) * Disability Income Rider (Accident Only)(8) * Waiver of No-Lapse Guarantee Premium Rider(5) * Accidental Death Rider(6) * Children's Term Rider(7) * Charity Rider
The addition of Armor universal life insurance to the Foresters portfolio complements Foresters term life insurance products such as Lifefirst(9) and Strong Foundation(10). Foresters allows conversion from its term insurance products to Armor.
About National Agents Alliance
NAA, a fast-growing insurance marketing organization, provides strategic marketing and training support to more than 9,000 independent life insurance agents in all 50 states. In 2007, NAA assisted middle- and upper-income American families with securing more than $16.9 billion in life insurance coverage. This fast growth has been sustained through high customer satisfaction, innovative lead programs, referrals, and the most lucrative agent compensation program in the industry. Our secret is: we serve our clients. Visit www.naaleads.com for more information.
About Foresters
Founded in 1874 as a fraternal benefit society, Foresters(tm) helps individuals and families achieve financial security with its innovative portfolio of life insurance products and annuities. Foresters has assets of more than $5.4 billion with liabilities of $4.0 billion resulting in a surplus of $1.4 billion (all figures in Canadian dollars as of December 31, 2007) and an "A" (Excellent) rating by A.M. Best*. Foresters shares its financial strength with its members, who are customers, through complimentary life, health and education benefits that help its more than 735,000 eligible members and their families in Canada, the United States and the United Kingdom. Foresters provides opportunities that inspire its members to make a difference in their communities. Foresters Equity Services, Inc.**, a wholly owned subsidiary of Foresters, offers investment products in the United States. Unity Life of Canada, a wholly owned subsidiary of Foresters, represents Foresters in Canada. For more information, please visit www.foresters.com
Foresters(tm) is a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9.
+These non-contractual member benefits are subject to eligibility, availability requirements and limitations and may be changed or cancelled at any time. For details, visit www.foresters.com.
*An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. In assigning Foresters rating, A.M. Best stated that Foresters rating outlook is "stable", which means it is unlikely to change in the near future, assuming Foresters financial strength is maintained and operations grow. A.M. Best assigns ratings from A++ to F, A++ being superior ratings and A and A- being excellent ratings.
**Investments offered through Foresters Equity Services, Inc. Member FINRA, SIPC, 6640 Lusk Blvd., Suite A-202, San Diego, CA 92121 T. 858 550 4844, a wholly-owned subsidiary of The Independent Order of Foresters.
Foresters Armor and its optional riders are filed with state insurance regulators under the following form numbers. "XX" stands for your state's postal abbreviation. Foresters Armor and its riders, Foresters Lifefirst and Foresters Strong Foundation may not be available or approved in all states, and state variations may apply.
The Foresters logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2969
(1)Foresters Armor: UL-ARM-US01-2008 or UL-ARM-XX01-2008
(2)Charity Rider: UL-CHA-US01-2008 or UL-CHA-XX01-2008
(3)Cost of Living Adjustment Rider: UL-COLA-US01-2008 OR UL-COLA-XX01-
2008
(4)Guaranteed Purchase Option Rider: US-GPO-US01-2008 or US-GPO-XX01-
2008
(5)Waiver of No-Lapse Guarantee Premium Rider: UL-WNLG-US01-2008 or
UL-WNLG-XX01-2008
(6)Accidental Death Rider: UL-ADR-US01-2008 or UL-ADR-XX01-2008
(7)Children's Term Rider: UL-CTR-US01-2008 or UL-CTR-XX01-2008
(8)Disability Income Rider: UL-DIR-US01-2008 or UL-DIR-XX01-2008
(9)Foresters Lifefirst: LFEN-US01-2007, LFEN-XX01-2007
(10)Foresters Strong Foundation: SIEN-US01-2006, SFEN-US01-2006, or
SIEN-XX01-2006, SFEN-XX01-2006
Editors' note: Armor Product Highlights is available at this link: www.foresters.com/armor