NEW YORK, July 21, 2015 /PRNewswire/ - A.M. Best has upgraded the financial strength rating (FSR) of First Investors Life Insurance Company in recognition of its increasing significance to Foresters' overall business profile and financial position, offering geographic, product, distribution and earnings diversification. First Investors Life's FSR moved from A- (Excellent) to A (Excellent) and its issuer credit ratings (ICR) increased from a- to a+.
"We are very pleased that A.M. Best, one of the world's oldest and most authoritative insurance rating and information source, has upgraded our FSR and ICR," said Carol Springsteen, President of First Investors Life Insurance Company. "Purchasing insurance and annuity products is a critically important decision. So when it comes to making a choice about which company to trust, it helps to know that an independent firm has affirmed the company's financial strength by giving it a top rating," she explained.
Many people choose not to purchase life insurance because they feel it's too complicated or too expensive, and they don't even know how to get started. However, when people face unexpected life circumstances, life insurance can help support their family, but it has to be in place before it's actually needed.
First Investors Life meets this critical need by offering a range of insurance and annuity products at affordable prices. The company's product set is backed by the full support of our broker dealer network representatives who can explain the intricacies of the choices and enable clients to choose the one that best suits their needs.
About First Investors Life
First Investors Life Insurance Company has been serving the needs of clients since 1962. Today, with our affiliated companies, we offer a wide range of financial products and services including mutual funds, annuities and life insurance.
Life insurance policies are offered by First Investors Life Insurance Company and distributed by First Investors Corporation; each is a wholly owned subsidiary of First Investors Consolidated Corporation (FICC).
Insurance policies contain certain exclusions, limitations and other terms for keeping them in force. For complete costs and details, see your Representative. Policy guarantees apply only to certain insurance features and are subject to the claims-paying ability and financial strength of First Investors Life. Variable universal life insurance policies are offered by prospectus only. For more information about First Investors variable universal life insurance policies, you may obtain a free prospectus by contacting your Representative or calling (800) 832-7783. The prospectus contains information about a policy's features, risks, charges and expenses, and the investment objective and risks of the underlying investment subaccounts as well as other information about the variable universal life policy. Consider this information, and read the prospectus carefully before you invest or send money. Policy availability and features may vary by state. The purchase of a variable universal life insurance policy is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
Neither First Investors Life Insurance Company nor its affiliates provide legal, tax or estate planning services. Should you require such services, you should consult a legal, tax or estate planning professional.
For 140 years, Foresters™, an international financial services organization, has fulfilled its purpose to enhance family well-being for its members and the communities where they live. A fraternal benefit society, Foresters offers quality life insurance and investment products, unique member benefits and inspiring community activities. Foresters shares its financial strength with more than one million members in Canada, the United States and the United Kingdom. Foresters has assets of almost $12 billion, total funds under management of $28 billion and a surplus of $1.9 billion (all figures in Canadian dollars as of December 31, 2014) and maintains an "A" (Excellent) rating by A.M. Best1. Foresters subsidiary Foresters Life Insurance Company's rating is "A-" and First Investors Life Insurance Company, also a Foresters subsidiary, received an "A" rating. For more information, visit foresters.com.
Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.
1 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. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning the ratings for The Independent Order of Foresters (Foresters) and its subsidiaries Foresters Life Insurance Company and First Investors Life Insurance Company on July 15, 2015, A.M. Best stated that the outlook for all ratings is "stable", which means they are unlikely to change in the near future. See ambest.com for the latest ratings.
SOURCE First Investors Life