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
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CONTACT: Foresters
Irene Shimoda, Director of Public Relations
416 429 3000 ext 4651
1 877 664 6602 (toll free)
ishimoda@foresters.com
Stephanie Petroff, Public Relations Specialist
416 429 3000 ext 4766
1 800 461 8431 ext 4766
spetroff@foresters.com
