Choice Mutual Rating

Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.

Learn how their coverage works, see sample costs, and the pros & cons.

Also, we’ll discuss if their policy is worth buying and the history of the company, including their financial ratings.

How Does Foresters Financial Burial Insurance Work?

Foresters Financial burial insurance is a simplified issue whole life insurance policy with a quick payout so your family can pay for your funeral.

Ultimately, the policy will pay your loved ones a cash benefit (tax-free), which they can spend any way they please. They can use the money for funeral costs, any outstanding medical bills, debts, or anything else. And if they don’t use all the money for your final expenses, they get to keep the rest.

You don’t have to take a medical exam to qualify, but you do need to answer health questions. In addition, Foresters Financial will electronically obtain your prescription history information because that gives them great insight into your medical conditions.

Depending on how you respond to the health questions, you may qualify for one of three health ratings:

  • Preferred: This is their cheapest option and has no waiting period. To qualify for the preferred rating, you must be able to say no to all health questions in the application.
  • Standard: This option also has no waiting period, but it’s more expensive than the preferred plan. The standard rating will be offered if you have any health issue mentioned in questions 13-15 of the application health questions.
  • Basic: This last option is a modified plan, which is the most costly and has a two-year waiting period. Death in the first two years would result in a refund of your money plus 10% interest. The basic plan will be offered if you have any health issues mentioned in questions 7-12 in the application.

Foresters Financial only sells their burial insurance policies through licensed agencies such as Choice Mutual.

Coverage DetailsPreferredStandardBasic
Policy TypeWhole Life Insurance
Policy DurationLifetime
Fixed PremiumsYes
Builds Cash ValueYes
State AvailabilityAll states except New York
New Applicant Age Range50-8540-75
Minimum Coverage Amount$5,000
Maximum Coverage Amount50-80: $35K
81-85: $15K
50-80: $20K
81-85: $10K
Free Built In RidersTerminal illness, Common carrier accidental death, & Family health benefit
Optional RidersAccidental Death (2X the payout for accidental death)
Where to ApplyAgencies licensed to sell Foresters Financial Life products (you can't buy this plan directly from them)
Phone Number to Apply1-800-644-2926
Medical Exam RequiredNo
2-Year Waiting PeriodNo
(subject to underwriting approval)
Application Approval Time10 Minutes
BrochureForesters Financial Final Expense Brochure
Sample ApplicationForesters Financial Final Expense Application


How Much Does Foresters Financial Funeral Insurance Cost?

The cost of Foresters burial insurance depends on your state of residence, exact age, gender, health history, tobacco habits, and the death benefit amount you want.

The table below shows some sample monthly funeral insurance premiums for $10,000 in coverage at a non-tobacco rating.

50F: $26.05
M: $32.00
F: $37.07
M: $45.04
F: $37.17
M: $46.62
55F: $32.47
M: $39.25
F: $43.16
M: $59.17
F: $43.79
M: $59.85
60F: $37.22
M: $47.06
F: $50.78
M: $73.81
F: $52.29
M: $74.02
65F: $43.38
M: $57.72
F: $64.51
M: $92.75
F: $65.52
M: $94.82
70F: $54.63
M: $74.53
F: $83.41
M: $116.44
F: $86.31
M: $118.44
75F: $82.13
M: $109.38
F: $126.80
M: $167.12
F: $131.67
M: $171.36
80F: $122.10
M: $151.35
F: $176.91
M: $229.03
F: $192.15
M: $259.25
85F: $182.55
M: $216.99
F: $268.62
M: $326.54


Pros & Cons Of Foresters Financial Final Expense Life Insurance

The Good
  • Excellent prices relative to other providers.
  • Favorable underwriting that accepts most seniors who deal with common elderly-related health issues.
  • All policyholders get access to generous member benefits at no extra cost.
  • Fast approvals (usually less than 10 mins).
  • It is a very old company that has been operating for nearly 150 years.
  • Has an A rating with A.M. Best.
  • Available in all states except New York.
  • Philanthropy is a significant initiative of the company.
  • Unique and valuable riders are included at no extra cost.
The Bad
  • For certain ages, other companies have lower prices.
  • $5,000 is the minimum face amount, which is a bit high relative to most companies.
  • You must meet with an agent face-to-face if you intend to replace an existing life insurance policy.
  • Recent blood thinner prescriptions can sometimes cause them to erroneously offer their basic plan, which is very costly and has a waiting period.
  • Most policy changes require paper forms to be signed and mailed in.
  • Phone hold times are regularly in excess of 15 minutes or more.
  • A complaint index of 1.65 with the NAIC which is slightly higher than average.


Is Foresters Financial Burial Insurance Worth Buying?

Forester Financial final expense insurance is well worth the money if you qualify for their preferred or standard plans.

Only policies like Living Promise from Mutual of Omaha or Aflac would be cheaper.

It’s always helpful to analyze multiple burial insurance companies to find the best funeral insurance policy. Every company has different prices and underwriting.

Due to the high cost and waiting period, their “basic” plan is not a wise purchase. Other companies like AAA, AIG, or Gerber would be cheaper than the basic plan if your health warrants a waiting period.

The table below outlines many typical health issues where you’d still be eligible for no waiting period coverage with Foresters Financial.

Common conditions still eligible for no waiting period coverage:

Bipolar disorder
Blood clots
Blood thinners
Cancer > 3 years ago
Chronic bronchitis
Circulatory surgery > 1 year ago
Crohn’s disease
Diabetes (type 1 or 2)
Grave’s disease
Heart attack > 1 year ago
Heart surgery > 1 year ago
High blood pressure
High cholesterol
Insulin shock > 2 years ago
Kidney disease (no dialysis)
Multiple sclerosis
Pacemaker (installed > 1 year ago)
Parkinson’s disease
Sickle cell anemia
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 1 year ago


Foresters Financial Company Background

Foresters Financial has been in business since 1874. Their home office is in Ontario, Canada, but they distribute insurance throughout the USA except in New York.

They offer a variety of life insurance products, including term life, funeral insurance for seniors, traditional whole life, accidental death, universal life, and life insurance for grandchildren or juveniles.

They are very financially stable, which is why they have an A (Excellent) rating with A.M. Best.

Their contact information is below:

  • Website:
  • Phone number: 1-800-828-1540
  • Mailing address: PO Box 179, Buffalo, NY, 14201

Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.

  1. NAIC.
  2. since 1874.
  3. A.M. Best.