Foresters Financial

What Foresters Financial does

Foresters Financial (legal name: The Independent Order of Foresters) is a Toronto-headquartered fraternal benefit society founded in 1874 that provides life insurance and member benefits to approximately 2.2 million certificate-holders across Canada, the United States, and the United Kingdom. The organization is owned by its members rather than external shareholders, and policyholders are automatically conferred membership and a non-financial benefits package that includes community volunteer grants, emergency assistance grants (Foresters Care), a wellness rewards program (Foresters Go), member discounts, legal services access (LawAssure), and competitive scholarships.

The company's insurance product portfolio spans term life (Your Term, Strong Foundation non-medical), participating and non-participating whole life (PlanRight for final expense, Advantage Plus II, Advantage Max in Canada with up to CA$20 million in coverage, BrightFuture for children, and the Afficiency-powered Live Well Plus), universal life (SMART UL), and accidental death term coverage (Prepared II). Underlying technology includes the iPipeline iGO e-Application platform with an embedded Accelerated Underwriting pre-screen checklist, analytics-driven AUW eligibility decisions that adapt to individual risk profiles instantly, and member-facing digital tools (MyForesters mobile app and MyPolicy) backed by an agent portal (ezbiz) and illustration tools (Foresight).

Foresters distributes through independent agents and advisors in three jurisdictions, supported by member-to-member referrals and a branch council governance system. Reported insurance revenue for 2025 was CA$954 million, with annualized weighted new sales of CA$384.8 million (+14.5% YoY), net income of CA$224 million (a turnaround from a CA$63 million loss in 2024), total assets of CA$19.6 billion, surplus of CA$2.3 billion, claims paid of CA$662 million, and 'A' financial strength ratings from both AM Best and Morningstar DBRS. Capital adequacy metrics — a 623% RBC ratio in the US and 188% LICAT ratio in Canada — sit well above regulatory minimums.

Name

Foresters Financial

Legal name

The Independent Order of Foresters

Website

https://foresters.com

Company type

Private

Founded year

1874

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Foresters Financial is a Toronto-based fraternal benefit society, founded in 1874, that provides individual life insurance (term, whole, universal, accidental death) and member benefits to approximately 2.2 million policyholders across Canada, the United States, and the United Kingdom.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Foresters generates revenue primarily through life insurance premiums collected from policyholders. As a fraternal life insurer, members purchase life insurance certificates and pay recurring premiums. The company reported insurance revenue of CA$954 million in 2025, with 14.5% growth in annualized weighted sales to CA$384.8 million.
2. Dividend Interest: The company pays dividend interest to eligible participants on their participating whole life insurance policies. In 2025, Foresters increased its dividend interest rate to 6.00% for eligible US participants, effective May 1, 2025, reflecting strong financial performance and a well-diversified investment portfolio.
3. Investment Returns: As a life insurer with CA$19.6 billion in total assets and CA$2.3 billion in surplus, Foresters generates investment returns on its investment portfolio, contributing to overall profitability. Total comprehensive income was CA$166.2 million in 2025.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Foresters Financial is a fraternal benefit society that sells life insurance and savings solutions, primarily whole life, term life, universal life, and accidental death insurance, to individual members and families in Canada, the United States, and the United Kingdom. The company generated CA$954 million in insurance revenue in 2025 across more than 2.2 million certificates and contracts in force, distributing through independent agents and supported by digital platforms (iPipeline iGO e-App, Afficiency-powered Live Well Plus, MyForesters app, MyPolicy). Members additionally access a fraternal benefits ecosystem including competitive scholarships, community volunteer grants, Foresters Care emergency grants, wellness rewards (Foresters Go), member discounts, and legal services (LawAssure).

Product overview

Foresters Financial is a fraternal life insurance society offering a comprehensive portfolio of life insurance and savings products alongside member benefits. Their insurance portfolio includes term life (Your Term Level Term, Strong Foundation Non-med Term), whole life (PlanRight for final expense, Advantage Plus II, Advantage Max in Canada, Foresters Live Well Plus, BrightFuture for children), universal life (SMART UL), and accidental death insurance (Prepared II). The company operates a digital platform ecosystem for agents (ezbiz, Foresight Illustrations, Certificate Details) and members (MyForesters app, MyPolicy), with member benefits including Community Grants, Foresters Care, Foresters Go wellness rewards, Member Discounts, LawAssure, and Competitive Scholarships. Foresters serves members in Canada, the United States, and the United Kingdom with over 2.2 million certificates and contracts in force globally.

Differentiator

Problem solved

Functional benefit

Brands

• Foresters Live Well Plus: Participating whole life insurance product with instant accelerated underwriting decisions, coverage up to $2,000,000, integrated e-signature and electronic delivery for immediate policy issuance.
• Advantage Plus II
• PlanRight
• BrightFuture
• Your Term
• Strong Foundation
• SMART Universal Life
• Prepared II
• Advantage Max
• MyForesters
• Foresters Go
• LawAssure
• Foresters Competitive Scholarship

Products and services

• Your Term Level Term Level term life insurance product with competitive medical rates, available for ages 18-65 with coverage up to CA$2,000,000 under accelerated underwriting.
• Strong Foundation Non-med Term Non-medical term life insurance product offering simplified underwriting without medical exams for applicants who meet eligibility criteria.
• PlanRight Whole Life Final expense whole life insurance product designed for burial and funeral costs, offering guaranteed death benefit and limited premium payment period.
• Advantage Plus II Whole Life Participating whole life insurance product with cash value accumulation, dividend potential, and flexible premium payment options.
• Advantage Max Whole life insurance product launched in Canada offering up to CA$20 million in coverage with a 6.25% dividend scale interest rate, emphasizing long-term financial security and cash value growth.
• Foresters Live Well Plus Whole Life Participating whole life insurance product available through a digital platform developed with insurtech company Afficiency, featuring accelerated underwriting decisions and coverage up to CA$2,000,000 with e-signature and immediate policy issuance.
• BrightFuture Children's Whole Life Whole life insurance product designed for children, providing coverage starting at a young age with guaranteed insurability at certain ages.
• SMART Universal Life Insurance Universal life insurance product with flexible premiums and death benefit adjustment options, available with accelerated underwriting up to CA$2,000,000 for ages 18-60.
• Prepared II Accidental Death Term Term insurance product providing additional coverage specifically for accidental death, offering simplified underwriting and affordable premiums.

Quantifiable outcome

• CA$662 million in claims paid to families across North America in 2025
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Partnerships

Three partnerships are on record, tiered core and minor.

• AfficiencycoreTechnology or Integration · 7 July 2025Insurtech partnership to develop the Foresters Live Well Plus digital platform for participating whole life insurance. The collaboration enables instant accelerated underwriting decisions with coverage up to $2,000,000, integrating e-signature and electronic delivery for immediate policy issuance. Foresters positioned the launch as a 'game-changer' simplifying the sales process.
• iPipelinecoreTechnology or IntegrationiPipeline provides the iGO e-App platform for Foresters' digital insurance application process. The platform includes an accelerated underwriting pre-screen checklist built into the application process, enabling automatic eligibility assessment without separate applications. Uses Microsoft Edge or Safari for medically underwritten products.
• International Scholarship and Tuition Services, Inc.minorOthersThird-party administrator for the Foresters Competitive Scholarship program, managing selection and award distribution for students in the UK, Canada, and US.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• New York Life: One of the largest mutual life insurers in the US, offering a broad portfolio of whole life, term, and universal life products. Highly comparable to Foresters on mutual structure, product breadth, and reliance on an agent distribution model.
• MassMutual: Major US mutual life insurer offering whole life, term, universal life, and disability income insurance through financial professionals. Comparable on mutual ownership, fraternal-style member focus, and full-service life insurance offerings.
• Northwestern Mutual: US mutual financial services company best known for permanent (whole life) and term life insurance, distributed through financial advisors. Closely comparable to Foresters on mutual model, whole life orientation, and advisor-led distribution.
• Knights of Columbus: Catholic fraternal benefit society offering term and permanent life insurance, annuities, and disability income, exclusively to members and their families. Most direct structural analog to Foresters' fraternal benefit society model, including member benefits beyond insurance.
• Thrivent Financial: US fraternal benefit society providing life insurance, annuities, and wealth management to Christian members, with a strong community-impact mission. Direct comparable on fraternal ownership, member benefits ecosystem, and life insurance core product.
• WoodmenLife: US fraternal benefit society (formerly Woodmen of the World) offering life insurance products along with member benefits and community programs. Closely comparable to Foresters on fraternal structure, product mix, and member engagement model.
• Modern Woodmen of America: Fraternal financial services organization offering life insurance, annuities, and retirement planning with a community-impact mission. Comparable to Foresters on fraternal benefit society structure, member benefits ecosystem, and life insurance focus.
• Equitable Life of Canada: Canadian mutual life insurer offering individual life insurance, group benefits, and savings products with a focus on participating whole life. Comparable to Foresters on mutual structure, Canadian market presence, and participating whole life orientation.

Broad incumbents

• Manulife: One of Canada's largest life insurers offering a broad portfolio across life insurance, wealth, and group benefits with global operations. Comparable to Foresters on Canadian life insurance product breadth, but much larger and publicly traded with a broader wealth and retirement focus.
• Sun Life Financial: Major Canadian-headquartered life insurer with operations in Canada, the US, and globally offering insurance, wealth, and asset management. Comparable on trilateral Canada/US/UK footprint and life insurance offerings, but at materially larger scale and with publicly traded stock structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/weareforesters
• Facebookfacebook.com/Foresters
• LinkedInlinkedin.com/company/foresters
• Instagraminstagram.com/forestersfinancial
• Pinterestpinterest.ca/forestersfinancial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Foresters Financial