Toronto-based Foresters has introduced a new participating whole life product with up to $100,000 coverage.
Foresters says Easylife offers a low-cost base of permanent protection without having to go through normal lengthy underwriting process. It’s coverage that’s easy for advisors to process.
There are no medicals required; no pages of questions to fill out. Clients aged 20 to 60 can be insured virtually instantly with just one easy interview and a signed declaration.
The application information can be submitted instantly using Foresters new mobile application Skylite, making it easier and faster to complete the process.
“Easylife is the result of our determination to simplify and shorten the process around issuing certificates,” says Sharon Giffen, president, Foresters Canada and president and CEO, Foresters Life Insurance Company.
Currently, whole life products account for approximately one-third of all life insurance sales in Canada on a premium basis. EasyLife offers level premium lifetime protection, dividends and the opportunity for death proceeds no less than the total face amount regardless of the dividend amounts. Premiums start at $25 a month or $300 annually.
Forester is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society.