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Traveller's age (in years)

Trip duration (in days)

Stable pre-ex condition

Yes

Coverage amount

✓ $0 Deductible

✓ $250 Deductible

✓ $500 Deductible

	2022	2023	2024	2025	2026
Equitable	6.05%	6.25%	6.40%	6.40%	6.40%
Manulife	6.10%	6.35%	6.35%	6.35%	6.35%
iA Financial Group	5.75%	6.00%	6.25%	6.35%	6.35%
Desjardins Insurance	5.75%	6.20%	6.30%	6.30%	6.30%
RBC Insurance	6.00%	6.00%	6.25%	6.30%	6.30%
Sun Life	6.00%	6.00%	6.25%	6.25%	6.25%
Empire Life	6.00%	6.00%	6.00%	6.25%	6.25%
Foresters Financial	5.50%	5.50%	5.50%	6.25%	6.25%
Co-operators	5.90%	5.90%	6.00%	6.00%	6.00%
Assumption Life	5.75%	5.75%	5.75%	5.75%	5.80%
Canada Life	5.25%	5.50%	5.50%	5.75%	6.00%

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Age (in years)

Gender

Smoker

Yes

Monthly Contribution Budget

Best for Simplified Issue

☆☆☆☆☆

★★★★★

PolicyAdvisor rating

Policies offered

Term, whole, universal, indexed universal

Average term life cost

Female: $128/year
Male: $145/year

*Average term life cost based on standard profile.

AM Best Rating

A-

LICAT Ratio

165%

PolicyAdvisor’s expert take on Foresters Financial

Charitable options: Tax-advantaged charitable direction options creating estate planning opportunities beyond face value

Community focus: Structure that generates significant social impact alongside financial protection

Diverse term options: Multiple coverage lengths to suit different needs

Fast fulfillment: Simplified and expedited application processes

Unique perks: Community membership benefits, including discounts, grants, and scholarships

Unique selling point (USP): Wide range of non-medical policies designed for those looking to qualify without medical underwriting

Foresters Financial overview

Foresters Financial’s history dates back to 1874, offering affordable and reliable insurance solutions. It has been rated as A for the last 25 years by A.M. Best Company while operating as a member-owned fraternal benefit society that combines financial services with community investment programs.

Pros:

✓Simplified and quick fulfillment options are available

✓Unique community membership benefits (discounts on hotels, attractions, learning libraries, wills, gift cards, online shopping, etc.)

✓A range of rider options to enhance the policy

Cons:

✗No online access to policy details

Life insurance product details

Term life: Offers the option to choose from Your Term Level Term Life Insurance, Strong Foundation Level Term Life Insurance, and Prepared II Accidental Death Term Insurance

Whole life: It has 3 popular options: Advantage Plus II Participating Whole Life Insurance, PlanRight Whole Life Insurance, and BrightFuture Children’s Whole Life Insurance

Universal whole life: Its SMART Universal life insurance plan helps you get coverage for your lifetime

Financial strength

AM rating	A
Total asset size	$1.8B
LICAT ratio	200%

Riders available

Common carrier accidental death rider: It offers additional death benefits if you die in an accident while travelling in a common carrier, like a bus, train, or plane

Family health benefit rider: It pays for limited health expenses in case of a natural disaster

Accelerated death benefit rider: It lets you accelerate the death benefit in case the policy owner suffers a critical illness listed on the policy document

Waiver of premium rider: Waives future premiums if the insured becomes totally disabled, helping keep coverage in force during disability

For more than 90% of people who want and need life insurance, term policies are the best choice. Term life insurance is inexpensive, simple, straightforward, and allows you to protect your family from financial devastation in the event of your passing.

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For me money is literally just the energy to keep doing the things I want to do.

Ryan Pollard

Life insurance advisor

Life insurance is an agreement between you and a life insurance company.
The agreement is that if you die, they will pay a death benefit (a lump sum of tax-free money) to someone you choose. In exchange, you agree to periodically pay them an insurance premium (a small amount of money).

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Knowledgeable and helpful

Very knowledgeable and helpful in determining the best plans for my son and I and he took the stress out of the process. Fully explained all of the options available to me, and answered all of my questions. I know that I made an informed decision ...

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First I was skeptical about high reviews but anyways PolicyAdvisor. I could see that they are trying to give best details they have and guide us to choose policy rather than selling it. Rarely I type in reviews. I can say that PolicyAdvisor is wor...

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Excellent service

Thank you for the excellent customer service. You’ve been very supportive in all our questions. After the video call, he didn’t really push to sell. We appreciate your time, and support in giving us updates and follow-ups and phone calls until we ...

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Genuinely Cared

My advisor genuinely cared about making sure I was comfortable and informed throughout the process, and patiently answered my many questions. He also always followed up to make sure I was up to date on my application process.

Jessica F

Simpler than expected

Answer all our questions in a timely manner, and the process was much more simple than I was expecting. We had our life insurance sorted and approved within a few days. I really like that they did the comparisons of policies for us.

Joanne Venfu

Life Insurance made easy

Was looking for a life insurance policy and the search was exhausting by conventional means, until I found PolicyAdvisor. My representative was excellent, and explained all my options and preferred quotes. Life Insurance made easy, thank you all a...

Pedro

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If you’re looking for best rate and an advisor, I would highly recommend PolicyAdvisor. They are expert in finding the best insurance provider. They are reliable and give unbiased advise. I’m glad I came across Policy Advisor online as they helped...

Zeny D

A walk in the park

I was able to derive a personalized quote within a minute. From there on it was as smooth as taking a walk in the park. I did not have to wait in long lines, could chart my progress, and had full control of my application.

Mayank

Super easy

I’d previously reached out to one of the big insurance companies directly but found them so unresponsive and uninterested. I’m glad we found PolicyAdvisor. They made comparing options easy so we found something that worked for our need...

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⭐ Tourists and temporary visitors

Anyone who may be going on a vacation to Canada should get travel insurance. Even if you only have a single trip planned. At the very least, an emergency medical plan will help make sure they’re covered if they need medical assistance. And a comprehensive travel insurance plan for tourists will help cover trip interruptions, other unexpected costs too.

Product

CoverMe

AM BEST RATING

A-

POLICYADVISOR RATING

Not Recommended For Canadian Life Insurance Buyers

The information above is intended for informational purposes only and is based on PolicyAdvisor’s own views, which are subject to change without notice. This content is not intended and should not be construed to constitute financial or legal advice. PolicyAdvisor accepts no responsibility for the outcome of people choosing to act on the information contained on this website. PolicyAdvisor makes every effort to include updated, accurate information. The above content may 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. All rights reserved.

If something in this article needs to be corrected, updated, or removed, let us know. Email hello@policyadvisor.com.

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