If you are an agent in the Mortgage Protection or Final Expense insurance markets there are going to be a lot of insurance carriers and products you can choose from to recommend to your clients and write business with. Today kicks off a series of carrier spotlight episodes that we will be doing over the next few months featuring some of the best and must have companies to not only give your clients the best insurance benefits but also to give you access to the best lineup of products, underwriting processes and customer service levels to provide you the highest probability of success!
We’re so excited to be joined in-studio on this episode, with the highly engaging, passionate, and tireless front man for Foresters Financial, Assistant Vice President, Bruce Burak. Bruce brings an energy to this industry, his company and product offering like no other! You will not be disappointed in the information and agent value in this very candid conversation. We talk about everything from marijuana to tornadoes in Tennessee. This one is a MUST LISTEN!
Foresters Financial is one of the most comprehensive and benefits rich life insurance carriers available in the marketplace to serve mortgage protection and final expense clients. While they do offer fully underwritten products, they are extremely well positioned in the simplified issue space. They offer five unique products that span a broad range of clients’ needs:
- Plan Right for Final Expense
- Strong Foundation – Non-Med Level Term
- Your Term – Fully Underwritten Level Term
- Smart UL – SMART Universal Life
- Advantage Plus II – Participating Whole Life
Foresters is feature rich with Benefit Riders, many included at no additional cost. The Accelerated Benefit Riders or “Living Benefits” offered on their Term Products, SmartUL and Advantage Plus II make it a complete benefits package particularly for mortgage protection, offering families both living and death benefits. Foresters also accepts e-applications for non face-to-face selling on these products with a simple phone call or video call.
PlanRight for Final Expense is one of the simplest applications on the market offering (2) two Level (or Day One ) coverage benefits, Preferred and Standard covering a wide range of health impairments including such things as insulin dependent diabetes and COPD. PlanRight also has a basic benefit for individuals who may have more significant health impairments. The Basic Benefit is a Graded Plan with a limited benefit for the first two years and a full death benefit thereafter. This product requires a face-to-face paper application with a (POS) point of sale interview that offers an Instant Decision in just minutes. This gives agents confidence that clients are covered, with no further underwriting or amendments required. Personal Health Interviews (PHIs) are available 7-days-a-week in the comfort of the client’s home
*Unfortunately, PlanRight does not have an e-application or non face-to-face selling opportunity at this time.
Lastly, as a fraternal organization, Foresters operates on a not for profit basis which means that any “profits” from its insurance business go to fulfill its mission, and for its members, in the form of dividends and special non-insurance benefits such as member benefits. In the U.S. These member and community benefits include such things as:
- Grants and Scholarships including Orphan Scholarships
- Emergency Assistance Programs which offers financial assistance to members affected by significant personal hardship, disaster or large-scale emergency
- Community Grants Program
- Charitable Contributions Program
- Well Being Benefits
- Foresters Strong Foundation Term Brochure
- Foresters Advantage Plus II Brochure
- Foresters Member Benefits Brochure
- Foresters Plan Right Brochure
- Foresters Smart UL Brochure
- Foresters Your Term Brochure
Next week is our monthly segment where we discuss a topic that you, our listeners, have submitted so if there’s an area that you are wanting to learn about or currently struggling with, visit liapodcast.org/feedback and submit your topic idea.
If you would like more information on Foresters Financial, fill out the form below or see the downloads below: