Understanding Foresters PlanRight Whole Life Insurance: A Comprehensive Guide
- Joseph
- May 30
- 3 min read
When considering life insurance options, Foresters PlanRight Whole Life Insurance stands out for its straightforward design, flexible loan options, and focus on family protection. Whether you're planning for final expenses or seeking a reliable policy with cash value benefits, this product may meet your needs.
What is Foresters PlanRight Whole Life Insurance?
Foresters PlanRight is a whole life insurance policy designed to help cover final expenses such as funeral costs, probate fees, and other financial obligations your family may face after your passing. With guaranteed level premiums and simplified underwriting, PlanRight offers lifetime coverage without complicated medical exams.
Key Features:
Three plan options: Preferred, Standard, and Basic, each offering different levels of coverage based on health and eligibility.
Minimum face amount: $5,000.
Maximum face amounts:
Preferred: $35,000 (ages 50-80), $15,000 (ages 81-85)
Standard: $20,000 (ages 50-80), $10,000 (ages 81-85)
Basic: $15,000 (ages 50-80)
Accessing Cash Value and Loans
One of the standout benefits of PlanRight is its ability to accumulate cash value over time. Policyholders can borrow against this cash value as a loan. While the guide doesn’t specify the exact percentage you can borrow, whole life policies typically allow up to 90% of the available cash value. However, it’s important to remember:
Loan interest applies, and unpaid loans reduce both the cash value and the death benefit.
Loans provide financial flexibility, letting you access funds when needed.
Included Riders for Enhanced Protection
Foresters PlanRight includes valuable riders to boost protection:
Accelerated Death Benefit Rider (for Terminal Illness): Available for Preferred and Standard plans, allowing early access to part of the death benefit if diagnosed with a terminal illness.
Accidental Death Rider (ADR): Available for Preferred plans, provides additional benefits if the insured dies from accidental causes.
Common Carrier Accidental Death Rider (CCADR): Included in all PlanRight plans, this rider doubles the death benefit if the insured dies as a fare-paying passenger on a common carrier (e.g., bus, train, airplane).
Family Health Benefit Rider: Covers certain emergency situations (e.g., natural disasters) with hospital, ambulance, and ER benefits.
Premiums and Payment Options
Level premiums to age 121.
Flexible payment modes: Monthly, quarterly, semi-annual, or annual.
Minimum premium: $10 per month.
Who Can Apply?
Issue ages range from 50 to 85, with coverage options depending on the applicant's answers to health questions.
A simplified underwriting process makes it easier to qualify.
FAQ: Your Foresters PlanRight Questions Answered
Q: Can I borrow against my policy?A: Yes! You can borrow against the policy’s cash value. Loans offer flexibility, but keep in mind loan interest applies, and unpaid loans reduce the cash value and death benefit.
Q: Are there riders included in the policy?A: Yes. Riders like the Accelerated Death Benefit (for terminal illness), Accidental Death, Common Carrier Accidental Death, and Family Health Benefit provide extra protection at no extra cost (for most plans).
Q: Who is eligible for PlanRight?A: Applicants between the ages of 50 and 85 can apply. Your eligibility depends on your health and answers to medical questions.
Q: How do premiums work?A: PlanRight offers level premiums (payments stay the same) until age 121. Flexible payment options are available.
Protect Your Loved Ones Today
If you’re ready to take the next step in protecting your family’s financial future, consult with a licensed Foresters representative or insurance agent today.
They can help you:
✅ Choose the right PlanRight option
✅ Understand your policy’s cash value and loan options
✅ Customize coverage to fit your needs
Don’t wait—ensure your loved ones have the protection they deserve.
Comments