Understanding life insurance The right life insurance solution can
make a big difference for you and your loved ones.Essentially, it’s a legal agreement between the insured and the insurance company that specifies payment of a predetermined benefit amount upon death, subject to the terms of the insurance contract.
Life insurance proceeds are generally free from federal income tax.1Who needs life insurance?Anyone who wants to protect survivors or dependents against financial hardship if they die.
For example, if your family were to have trouble getting by without your salary, a life insurance policy can provide funds that potentially helps them continue living their lives. Here are some other ways life insurance can benefit you:
Final expenses. A death benefit may help pay medical bills, funeral
costs and other related expenses. Mortgage protection. Your loved
ones may use the death benefit to help cover mortgage payments or
to pay it off entirely. Income replacement. Your family may use life insurance proceeds to help maintain their standard of living.
Estate planning. Life insurance may be an effective way of paying the costs associated with settling your estate. A legal or tax professional can provide you with the right guidance when it comes to estate planning.
Charitable giving. Expanding your legacy by giving to your favorite charity may also provide you with a valuable tax benefit.What is life insurance?Did you know…Approximately101million Americans recognize they need more life insurance. 49%of Gen Z Americans need more life insurance. 47%of Millennial Americans need more life insurance.
How much life insurance do you need?
Every individual’s insurance needs are different based on various factors,
including:
Current income
Current savings
Accumulated debt
Future education needs
Retirement and financial needs Your age and life stage

A life insurance producer can assist you in determining the right coverage for you.  Calculate your life insurance needs online at foresters.com/calculator.
Foresters Financial, Foresters, Foresters Care, Foresters Moments, Foresters Renew, Foresters Go, the Foresters Go logo and Helping Is Who We Are are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Ontario, CanadaM3C 1T9) and its subsidiaries. N815
Foresters products and riders may not be available or approved in all states and are subject to eligibility requirements, underwriting approval, limitations,
contract terms and conditions and state variations. Refer to the applicable Foresters contract for your state for these terms and conditions. Underwritten by The Independent Order of Foresters.
1 Foresters, and their employees and life insurance representatives, do not provide, on Foresters behalf, financial, estate, legal or tax advice.
2 Source: LIMRA, 2023 Insurance Barometer Series, Report 2: The Future of Life Insurance
3 Description of member benefits that you may receive assumes you are a Foresters Financial member. Foresters Financial members are insureds under a life or health insurance certificate issued by The Independent Order of Foresters or Foresters Life Insurance Company. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice or are no longer available.This program is administered by International Scholarship and Tuition Services, Inc. Eligible members, their spouse, dependent children, and grandchildren may apply subject to the eligibility criteria. Please visit https://www.foresters.com/en/member-benefits/scholarships for further details. 504255 US 05/25
Term life insurance is designed to cover you for a specified period of time – usually 10, 20 or 30 years.

A death benefit is only paid if the insured dies within the term period.
Permanent life insurance has no fixed term and is designed to cover you for your lifetime. The premiums are typically higher than term life insurance, but often, it comes with a cash value component. The most
common permanent life insurance products include:  Whole life insurance provides traditional life insurance coverage with a savings component that accumulates cash value based on a guaranteed interest rate.
Universal life insurance offers flexible premiums and death benefits with an investment component that accumulates cash value based on actual interest rates. Foresters offers a number of life insurance products based
on your individual needs and financial goals.
Choose Foresters Financial™. Celebrate life.
Our life insurance goes beyond just paying a death benefit when you pass away. With Foresters, you also get more
opportunities to live well and do the good you want to do right now.
We’ve got unique member benefits3 that help you live your best life today and every day.
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You can reach me at:  207-299-5180