This Foresters Critical Illness Insurance review includes our ratings as well as details about Foresters’ Critical illness product, its features, and coverage terms.
For more company reviews, head here to read about the best critical illness insurance companies in Canada.
Read more about:
- Foresters Critical Illness Insurance plan details
- Who is Foresters?
- Does Foresters sell critical illness insurance?
- What critical illness insurance coverage and terms does Foresters offer?
- Does Foresters critical illness insurance offer a return of premiums?
- How do I apply for Foresters’ critical illness insurance?
Foresters’ Critical Illness Insurance Review
Foresters’ Health Security Plus is the Honda Civic of critical illness insurance – it only offers the basics (6 covered conditions), but it gets them right, including the most commonly occurring health issues. While they offer an enhanced product that covers more, Health Security Plus is the best choice for those looking for only the essentials.
- Six disease coverage (better than other basic coverage plans)
- Access to Foresters’ community benefits
- Return of premium options available
- Limited coverage term (only 10 years term) and amount (max of $100,000)
- No partial payment for non-life threatening illnesses
- No limited pay options available
- No children’s coverage
- No whole life coverage
|Product Name||LifeCare (Enhanced), Health Security Plus (Basic)|
|Critical Illness coverage||Basic and Enhanced Coverage|
|Available Terms||10 years and to age 75|
|Limited Pay option||None|
|Maximum coverage||Up to $2-million|
|Conditions covered||LifeCare - 21 conditions, Health Security Plus,- 6 conditions|
|Loss of Independent Existence coverage||Yes in LifeCare, not included in Health Security Plus|
|Partial payout conditions||No|
|Partial payment or early detection payment||No|
|Childhood illnesses coverage||Yes for enhanced coverage|
|Survival period||30 days|
|Return of Premium on death||Yes|
|Return of Premium on expiry/cancellation||Yes. Available after the 10th year of coverage|
|Online account access||Yes|
Foresters Financial derives from the Independent Order of Foresters – a socially responsible, international financial services provider that has served North America for 140 years since splitting from a UK-based parent group. Foresters Financial has been an early champion of gender and racial equality and is known internationally for its charitable efforts in times of tragedy and need.
Foresters’ maximum coverage for critical illness insurance is $2-million.
They offer coverage for loss of independent existence. They offer partial payouts for 6 different conditions, and they can be claimed twice. The payout is typically 15% of the policy up to $50,000, and partial payments can be claimed twice during the coverage period.
Foresters survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.
Foresters offers critical illness insurance for a 10-year term or coverage up to 75 years of age.
There are no limited-pay options available.
You can apply for Foresters’ critical illness insurance using the best online life insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed brokers to apply for Foresters’ critical illness insurance.
The information above is a brief representative summary for indicative purposes only. It does not include all terms, conditions, limitations, exclusions, termination and other provisions of the policies described, some of which may be material to the policy selection. Please refer to the actual policy documents for complete details. In case of any discrepancy, the language in the actual policy documents will prevail. A.M. Best financial strength ratings displayed above are not a warranty of a company’s financial strength and ability to meet its obligations to policyholders.