Financial services provider Foresters Financial has launched three new non-participating whole life products. The products - non-par whole life, simplified non-par whole life and child non-par whole life - were introduced as part of Foresters’ new strategy to grow its product portfolio in Canada over the next decade.
“There’s a great energy and anticipation around the organization’s future,” said Foresters Financial Canada vice-president of sales Rob Baboth. “We are committed to providing our distribution partners with competitively priced products to help them meet the protection needs of Canadian families.”
According to a release, the non-par whole life product “offers flexible options including joint first-to-die or joint last-to-die and up to $5,000,000 of affordable permanent protection with preferred underwriting for coverage above $250,000.”
The Simplified non-par whole life product “provides up to $100,000 of reliable, permanent coverage with no medical exams required.”
The child non-par whole life gives “affordable coverage today that can help protect the child’s future insurability and provides guaranteed cash value that they can access later in life.”
All three will include $1,000 in bereavement assistance for the beneficiaries. In addition, non-par whole life and simplified non-par whole life will come with an advanced medical expert medical opinion program - allowing plan holders to get a second opinion from leading medical experts. Child non-par whole life also has an additional feature that waives the premium if the owner dies in an accident.
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