Foresters Financial

North American fraternal order

The Independent Order of Foresters

Foresters Financials' Don Mills headquarters seen in 1992

Trade name

| Foresters Financial
Company type| Fraternal benefit society
Industry| Financial services
Founded| 1874; 151 years ago (1874)
Headquarters|

Toronto, Ontario

Canada

Areas served

*     * Canada
* United Kingdom
* United States

Products|

*     * Life insurance
* Life annuity

Subsidiaries| Canada Protection Plan
Website| foresters.com

The Independent Order of Foresters,[1] operating as Foresters Financial, is a fraternal benefit society headquartered in Toronto, Ontario, Canada, that provides life insurance and other financial solutions in Canada, the United Kingdom, and the United States. As of 2024, Matt Berman has served as the company's president and CEO.[2]

## History

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Foresters traces its origins to a British Friendly Society, a mutual organization caring for the sick. Membership was originally gained by combat, first with quarterstaffs, then with swords and finally with cudgels, until initiation by combat was abandoned in 1843.[3]

In 1834, the Royal Foresters formed a Friendly Society, the Ancient Order of Foresters (AOF).[4] The Independent Order of Foresters (IOF) in the United States became independent of the AOF in 1874.[5]

The expansion of the IOF into Canada in 1875 is attributed to a doctor and community leader, Oronhyatekha. Of Mohawk descent, he was born in 1841 at Six Nations near present-day Brantford, Ontario, Oronhyatekha ("Burning Sky") was baptized Peter Martin and later attended Oxford, where he became a medical doctor.[6]

Dr. Oronhyatekha held the office of Supreme Chief Ranger (now called "International Fraternal President") from 1879 until 1906; he died in 1907.[7] Foresters membership reached 257,000 in 1906. Through the 20th century it amalgamated with various other fraternal organizations, including the Ontario part of one of the oldest, the Ancient Order of United Workmen, acquired in 1926, the Modern Brotherhood of America, acquired in 1931, and the Order of Scottish Clans, acquired in 1971.[8]

Like other friendly societies and fraternal organizations of the time, Foresters helped transform the insurance industry by extending insurance benefits to the average working family. In addition to admitting women as full members, Foresters provided orphan benefits to the children of deceased Foresters members.

Foresters acquired Unity Life of Canada in 2008, which subsequently rebranded as Foresters Life Insurance Company in January 2012.[9]

As of 2014, Foresters Financial operated a separate UK division based in South London.

In April 2019, Macquarie Group's investing division agreed to buy $12.3 billion in assets from Foresters Financial, including Foresters' First Investors mutual funds business.[10] In the same year, the company sold its U.S. broker-dealer to Cetera Financial Group, in efforts to focus on life insurance.[10]

In May 2019, Foresters sold its Canadian money management unit, Foresters Asset Management, to Fiera Capital.[11] In October 2019, the company sold Foresters Financial Holding and Foresters Life Insurance and Annuity Company to Nassau Financial Group.[12]

In October 2020, Foresters Financial acquired life insurance distributor Canada Protection Plan.[13][14][15] Canada Protection Plan was rebranded as "Canada Protection Plan, a Foresters Financial company".[16]

In July 2021, Foresters invested in a capital project to transform the UK London office. As part of Foresters sustainability roadmap, Renewable Energy Generation Assets and Energy Saving Products were utilized. The investment will reduce the CO₂ emissions by up to 10,000 kg per year.[17]

In 2024, Foresters reached 150 years in business, serving 2.6 million clients and families in Canada, the US and the UK.[18] The company continues its legacy of community investment and support, including partnership with nonprofit KaBOOM!, which has helped Foresters build more than 170 playgrounds across the U.S. and Canada since 2006.[19][20][21]

## Life insurance plans

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Foresters Financial offers a term life insurance policies: Term 10, Term 20, Term 30 and EZ term. Foresters Financial has 2 types of whole life insurance: Advantage Plus II whole life and Non-Par whole life.[22]

Foresters Financial offers 2 critical illness insurance plans: Live Well and Live Well Plus.[23]

There are also multiple riders as well: Term riders, Spousal term riders, Child term rider, Accidental death benefits rider, and Disability waiver of premium rider.[24]

## See also

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* Ancient Order of Foresters

## References

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1. ^ "Legal, privacy and accessibility". Foresters Financial. Retrieved 2 April 2022. "'We', 'us' or 'our' mean The Independent Order of Foresters (Foresters Financial) and its affiliated companies."
2. ^ "Foresters Financial names new CEO". www.insurancebusinessmag.com. Retrieved 2025-02-16.
3. ^ Foresters in Marin County, California Archived 2012-07-17 at the Wayback Machine (freemasonry.biz)
4. ^ Foresters Friendly Society: Our History
5. ^ 135th Anniversary (1874-2009) Archived 2011-02-08 at the Wayback Machine
6. ^ Comeau-Vasilopoulos, Gayle M. (1994). "Oronhyatekha". In Cook, Ramsay; Hamelin, Jean (eds.). Dictionary of Canadian Biography. Vol. XIII (1901–1910) (online ed.). University of Toronto Press.
7. ^ Our Story Archived 2011-07-11 at the Wayback Machine at Foresters135.com
8. ^ "Financial Condition Report" (PDF). NY State DFS. December 1, 1997.
9. ^ "Unity Life renamed Foresters Life". Advisor's Edge. January 24, 2012.
10. ^ a b "Macquarie to acquire $12.3 billion in mutual fund assets from Foresters". Pensions&Investments. April 9, 2019.
11. ^ "Fiera Capital to buy Foresters Asset Management for undisclosed sum". PI Online. May 15, 2019.
12. ^ "Nassau Completes Acquisition of Foresters' U.S. Variable Annuity and Variable Life Operations". ThinkAdvisor. July 20, 2020.
13. ^ "Foresters Financial, Canada Protection Plan to merge operations". NS Insurance. 2020-10-05. Retrieved 2020-12-16.
14. ^ Writer, Verdict Staff (2020-10-05). "Foresters Financial agrees to combine with Canada Protection Plan". Life Insurance International. Retrieved 2025-02-16.
15. ^ officebureau (2020-10-02). "Foresters and Canada Protection Plan announce merger". Advisor.ca. Retrieved 2025-02-16.
16. ^ Moorcraft, Bethan (2020-10-02). "Foresters Financial and Canada Protection Plan announce merger". Insurance Business Canada. Retrieved 2020-12-16.
17. ^ "Foresters Financial transform London Office". GreenLight. July 14, 2021.
18. ^ "Foresters Financial marks 150 years of life insurance and community service". www.insurancebusinessmag.com. Retrieved 2025-02-19.
19. ^ "Community shows up and KaBOOM! there's a playground". Black Mountain News. October 6, 2018.
20. ^ Kennedy, Saskia (2025-01-02). "Video Observer: Fullerton Playground: Built In A Day". Fullerton Observer. Retrieved 2025-02-19.
21. ^ "Foresters Financial and KABOOM! partner with the Town of Ajax to build an inclusive, community-designed playspace for neighbourhood children". Yahoo! Finance. October 8, 2024. Retrieved February 19, 2025.
22. ^ hayesweb (2022-02-10). "Foresters Financial Life Insurance Review Canada [2022]". Protect Your Wealth. Retrieved 2022-07-19.
23. ^ hayesweb (2022-02-10). "Foresters Financial Life Insurance Review Canada [2022]". Protect Your Wealth. Retrieved 2022-07-19.
24. ^ hayesweb (2022-02-10). "Foresters Financial Life Insurance Review Canada [2022]". Protect Your Wealth. Retrieved 2022-07-19.

## External links

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* Official website