Planning for the death of yourself or a loved one is no easy task, but to ensure that the inevitability of death does not equate to financial ruin for your family, it is a necessity. Foresters calls itself a “fraternal benefit society.” As a not-for-profit organization, its members are also its chief investors, similar to a credit union’s approach to banking. Members are directed to their local branch for community participation, and for some benefits not offered by traditional insurance policies – things like eligibility for grants and scholarships, and discounted or complimentary community events.

Foresters offers three final expense insurance plans, all falling under the name of PlanRight. The top tier of PlanRight is a whole life insurance policy, meaning it is good for the whole life of the applicant, while the other two are shorter-term policies offering limited benefits for the first two years.

The whole life policy is also described as being “fixed,” meaning that benefits are available to the policyholder immediately upon approval, and those benefits will remain at those rates for the life of the policyholder. This is the most comprehensive option, but approval hinges on answers given during a health questionnaire.

If the answers given do not meet the requirements for the whole life option, or if the applicant opts out of the questionnaire process, the two other options are available. The first is a graded death benefit. The regulations of this option are a little complex at first. The bottom line is that full death benefits do not take effect until two years after the policy begins. During the first two years, if a claim is made, you are eligible for the total amount of payments made plus 4.5 percent interest, as well as 30 percent of the policy’s face-value amount for the first year added with 70 for the second. The larger of these two numbers is the benefit amount given.

The final option is the modified death benefit. Again, the waiting period is two years before full benefits kick in. During that time, if a claim is made, the benefit equals the money paid into the policy up to that point plus 10 percent. The policy matures in two years. If the policyholder dies after that point, the benefits will be paid in full.

Foresters is a reliable company with a solid reputation, and it offers a suite of insurance options for all types of life situations. The PlanRight insurance policy allows buyers to get the exact type of coverage they need for best protection.