Foresters works a little differently from most insurers. It's a fraternal benefit society, so when you buy a policy you also become a member. Its term rates are often among the lowest for healthy applicants. Since 2020 it has also owned Canada Protection Plan, one of the best-known no-medical brands in Canada.
Foresters at a glance
| Foresters | |
|---|---|
| Head office | Toronto, Ontario (789 Don Mills Road) |
| Ownership | A fraternal benefit society, owned by its members rather than shareholders. In Canada since 1874. |
| How it's sold | Through independent advisors; its no-medical plans are sold under the Canada Protection Plan name |
| Can Pankaj arrange it? | Yes. Pankaj can compare and arrange it for you. |
Products
Term life
- Foresters Term: Term 10 (ages 18 to 75), Term 20 (18 to 65) and Term 30 (18 to 55), from $100,000 ($50,000 on Term 30) up to $5 million. Convertible to Foresters permanent coverage with no new medical evidence before age 71. Between the 2nd and 5th anniversaries, you can exchange it for a longer term. Available as single, joint first-to-die or joint last-to-die.
Permanent life
- Advantage Plus participating whole life: issue ages 0 to 85, from $25,000, paid to 100, over 20 years or over 10 years. Premiums, death benefit and cash values are guaranteed, and dividends can buy more coverage, reduce premiums or be paid in cash.
- Advantage Max participating whole life: weighted more toward cash value growth, from $50,000.
- Non-Par Whole Life: lifetime cover with guaranteed cash values and no dividends.
Critical illness
- Live Well: 4 conditions (cancer, heart attack, stroke and coronary bypass), $25,000 to $100,000.
- Live Well Plus: 25 conditions, $25,000 to $2 million, in Term 10, Term 20 or Term to 80 versions. Both pay 15% of the benefit (up to $50,000) for some non-life-threatening illnesses, and both refund premiums if you die while the policy is in force.
Other products
- No medical, simplified and guaranteed-issue plans through Canada Protection Plan.
What stands out
- Charity Benefit: on Term and Advantage plans, Foresters pays up to $100,000 extra to a charity you choose, on top of the death benefit.
- Quit Smoking Incentive: on whole life plans, smokers pay non-smoker rates for two years, and keep them if they quit.
- No paramedical exam or lab work is needed up to $1 million for ages up to 50, or up to $500,000 for ages 51 to 55, unless the answers call for it.
- Policyholders become Foresters members and can use member programs. These are non-contractual and can change.
Who it suits
- healthy families who want low-cost 10, 20 or 30-year term
- parents who want a whole life plan for a child
- people who like the idea of a charity gift built into their policy
When to look elsewhere
Foresters Term only comes in 10, 20 and 30 years. If you need a 25-year term or one that matches your mortgage exactly, compare Canada Life, Sun Life or iA.
How much coverage do you need?
Getting a quote
Use the quote tool above to see Foresters side by side with other insurers, or send Pankaj your age, smoker status and the coverage you want on WhatsApp. You pay the same premium through an advisor as you would going direct.
Common questions
What is a fraternal benefit society?
It's a member-owned organization that sells insurance and puts its surplus back into its members and communities instead of paying shareholders. Buying a Foresters policy makes you a member.
Is Canada Protection Plan the same company as Foresters?
Canada Protection Plan is owned by Foresters, which bought it in 2020. Its no-medical plans are underwritten by The Independent Order of Foresters or Foresters Life Insurance Company.
Can I buy Foresters through an independent advisor?
Yes. Pankaj can compare and arrange it for you.
Is Foresters a good insurer?
It depends on what you need. Worth a quote for healthy people who want low-cost term or a dividend-paying whole life plan. People with health issues can often still get covered through its Canada Protection Plan line.
Official sources
- Foresters Financial: for advisors (products and built-in features)
- Foresters Financial: sales playbook (product specifications)
- Foresters Financial: Advantage Plus whole life
Product details are checked against the sources above as of October 2026. Insurers change products often, so Pankaj confirms current terms with every quote. This page is an independent review, not an endorsement by Foresters.