Forestors Insurance: Everything you need to know

Forrestors Insurance is an insurance company that specializes in offering insurance solutions to individuals and businesses for over 100 years. In this article, we will take a closer look at Forestors Insurance, their history, services, and everything you need to know about them.

Background and History of Forestors Insurance

Forestors Insurance was founded in 1874 in London, UK, as The Ancient Order of Forests Friendly Society. It was a mutual society that provided benefits such as accident and sickness benefit, funeral benefits, and life insurance to its members. The society expanded rapidly, and by the 1900s, it had over 150,000 members.

In 1967, The Ancient Order of Forests Friendly Society changed its name to Forestors Friendly Society, and in 2008, it became a company limited by guarantee. Today, Forestors Insurance is a part of the Foresters Financial group, which has over three million members across the UK, Canada, and the US.

What services does Forestors Insurance offer?

Forestors Insurance offers a range of insurance solutions to individuals and businesses. Here are some of the products and services they offer:

FAQs

What is a mutual society?

A mutual society is a type of organization that is owned by its members. Members of a mutual society share a common interest or purpose, and they pool their resources to provide benefits to each other. Mutual societies are usually not-for-profit organizations, and any surplus funds are returned to members rather than paid out to shareholders.

How can I apply for a Forestors Insurance policy?

You can apply for a Forestors Insurance policy by visiting their website or by contacting their customer service team. You will need to provide some personal and financial information, and they will assess your application before offering you a policy.

What is the difference between term and whole life insurance?

Term life insurance provides coverage for a specific period, such as 10, 20, or 30 years. If you die during the term of the policy, your beneficiaries will receive a payout. Whole life insurance provides coverage for your entire life, and the policy will pay out a benefit when you die. Whole life insurance policies are usually more expensive than term life insurance policies.

What types of investments does Forestors Insurance offer?

Forestors Insurance offers a range of investment products such as ISAs, OEICs, and investment bonds. ISAs allow you to invest money tax-free, while OEICs are professionally managed funds that invest in a range of assets. Investment bonds are investment vehicles that offer tax benefits and can be used to generate income or grow your wealth over time.

Does Forestors Insurance offer workplace pension plans?

Yes, Forestors Insurance offers workplace pension plans to businesses. They can help you set up a pension scheme for your employees and manage it on your behalf. You can choose from a range of investment options and contribution levels to suit your business needs.

Conclusion

Forestors Insurance has a long history of providing insurance solutions to individuals and businesses. They offer a range of products and services, including life insurance, investments, pensions, and business insurance. If you are looking for an insurance company that has been around for over 100 years and is committed to helping its members grow and protect their wealth, Forestors Insurance may be the right choice for you.