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Foresters Financial offers affordable life insurance solutions for clients in various life stages and situations. From covering final expenses to protecting mortgages and insurability, Foresters has customized options for every need.
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Presented by: David Hutchison Director of Sales, Eastern & Southwestern Ontario Foresters Financial For advisor use only.
Connect Four Meet Doris • Retired 65-year-old female • Smoker, but plans on quitting • Hasn’t done much financial planning and is starting to think about her future financial obligations • Her dilemma • Doesn’t have a lot of savings or any life insurance to help pay for final expenses For advisor use only.
Connect Four Meet Sean • 38-year-old Dentist • Recently moved to a new town, buying a house • Soon to be married • History of Juvenile Diabetes in his family • His dilemma • Needs Term to cover his mortgage • Concerned about covering his future children For advisor use only.
Connect Four Meet Dan and Jenna • 30-year-old husband and wife • Married with two children • They use marijuana twice per week • Their son is uninsurable • His dilemma • They each have Term coverage, but they are looking for options for their son For advisor use only.
Connect Four Meet Ben • 25-year-old male • Married with a child • Limited household income • Only coverage is through his workplace • His dilemma • He realizes the need for insurance coverage, but is very cost conscious For advisor use only.
Connect Four Your Opportunity • 4 unique client situations with: • Different needs • Different life stages • Different goals
Connect Four Your solution: Foresters Financial
Fraternal Difference • How are Fraternal Life Insurance providers different from other life insurance carriers? • Our customers are our members and apply for membership in the application • Share a common bond • Offers affordable life insurance to its members – no shareholders • Fraternal Concept: People helping people
Connect Four Doris • Doesn’t have a lot of savings or any life insurance • Smoker, but plans to quit • Looking for insurance to helppay for her funeral costs and any other potential financialburdens For advisor use only.
Connect Four Her solution • Purchases $20,000 Advantage Plus Life Paywith the Paid Up Additions dividend Option which provides: • A monthly premium of $115.78 for the first 2 years, as a smoker discount. If Doris quits smoking for at least 12 months by the 2nd policy anniversary, she will continue to pay this premium for the life of the policy. • Premium jumps to $134.53 per month in year 3 if Doris does not quit. • Projected to grow to over $37,000 by age 85 • 20 pay is only $120.33 per month, jumps to $145.10 For advisor use only.
Connect Four Sean • Needs Term to cover hismortgage of $1,000,000 • New to his area • He’d also like to protect thefuture insurability of his kids For advisor use only.
Connect Four His solution • Purchases a Term 20 for $1,000,000 with a Child Rider for $25,000 • $84.60/month • Sean can add a Child Term Rider even before any children are born • He can also utilize the Granting Program to build his dentistry practice in the community, by hosting various fun family and volunteer events For advisor use only.
Connect Four Dan & Jenna • Both have Term coverage • Both use marijuana twice per week • Looking for options in regards to their uninsurable son For advisor use only.
Connect Four Their solution • Each purchase a 20 pay Advantage Plus Whole Life for $10,000 • $29.99/month for Dan and $29.98/month for Jenna • Paid Up Additions will ensure future growth • Foresters allows marijuana use 1-3 times per week for Non-Smoker class • With each Advantage Plus plan purchased, each child is covered for $3,000 at no cost and no evidence, with opportunity to convert to a full $10,000 of permanent at age 25 with no evidence For advisor use only.
Connect Four Foresters Financial Approach to Marijuana Usage • As of August 1st 2016: • 1-3 times per week – Non-Smoker • 4-7 times per week – Non-Smoker, 50% extra rating • Greater than 7 timers per week – likely declined For advisor use only.
Connect Four Remember Ben? • Has coverage through work, and realizes the need to have it, but budget is a concern • History of heart disease in his family For advisor use only.
Connect Four His solution • A Term 10 issued for $250,000 • $15.53/month • If needs change or cash flow increases, Exchange option allows for a change from T10 to T20 or T30 without evidence • If health changes later in life and renewal is an issue, term re-set without evidence is an option For advisor use only.