TORONTO, Dec. 4, 2019 /PRNewswire/ - Foresters Financial™ today announces modernized underwriting guidelines across its non-medical life insurance product portfolio for Americans who use cannabis.
"As more States permit limited cannabis usage, particularly for medicinal purposes, we made the decision to modernize our products to stay in step with this evolving trend – a change that makes life insurance accessible to more people," said Matt Berman, Chief Distribution Officer, Foresters Financial.
Life Insurance with a Larger Purpose
Foresters Financial insureds (members) receive a full suite of unique member benefits1 that furthers Foresters fraternal mission of enriching the well-being of hard-working families and their communities. Member benefits include opportunities for scholarships, community building grants, as well as financial counseling and access to complimentary or discounted legal advice.
"Our approach to product innovation is driven by our history of providing life insurance with a larger purpose," Mr. Berman said. "As another example, we recently introduced an industry-first suite of non-medical life insurance products that have modernized underwriting and competitive premiums for people living with type 2 diabetes.
"We take a holistic approach to our members' well-being to help them enjoy a more rewarding life. We create products, incentives and unique benefits that enhance their commitment to health and wellness. Given the evolving trend on cannabis, making it easier for people to access a full suite of products is another example of how we are bringing our strategy to life."
About Foresters Financial
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters is a purpose-driven organization that exists to enrich family and community well-being and offers insurance products to over three million members and clients in Canada, the US and the U.K. For 19 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best2. For more information please visit foresters.com.
™Foresters Financial, Foresters, and Helping Is Who We Are are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries.
Foresters products and their riders may not be available or approved in all states and are subject to underwriting approval, limitations, contract terms and conditions, and state variations. Products underwritten by The Independent Order of Foresters. Insurability depends on answers to medical and other application questions and underwriting searches and review.
For information purposes only.
1 Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice.
2 The A.M. Best rating assigned on August 14, 2019 reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. 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. See ambest.com for our latest rating.
SOURCE Foresters Financial