Foresters expands the availability of life insurance to Americans living with type 2 diabetes

Foresters Financial Services announced that it is expanding the availability of life insurance to Americans living with type 2 diabetes. Effective June 28, 2021, Strong Foundation, Foresters non-medical term life insurance designed to meet a range of client needs, is also available for more people with type 2 diabetes.

Now further accessible to those falling within substandard tables 7 to 12, it continues to be offered on a non-medical basis. This is the latest in Foresters efforts to provide coverage to this group. Face amounts for those living with type 2 diabetes within tables 7 to 12 run from $50,000 to $300,000 for ages 18 to 55 (and up to $150,000 for those 56+), with no blood tests or fluids, and ‘quick’ processing (with the iPipeline iGO e-App(3)). Insurability depends on answers to medical and other application questions and underwriting searches and review.

“We are further redefining how insurers help people. Thirty-four million Americans are living with diabetes(4) and many don’t have life insurance because they don’t qualify, the underwriting process is too lengthy, or it is too expensive. Together, we can help more people with type 2 diabetes get the protection they need without full medical underwriting.” – JS Ledoux, AVP, Product Management, North America.

Foresters offers important guidance for agents, including the Foresters Strong Foundation Diabetes Rating Calculator, to review the key diabetes figures with their clients to ensure a smooth application process. The calculator uses information that includes the client’s Hemoglobin A1C (HbA1C), the date the client first received their diabetes diagnosis, and their current age, height and weight to confirm they fall within the eligibility range to apply on a non-medical basis.

This latest Strong Foundation enhancement follows from other recent efforts at Foresters to insure more Americans living with type 2 diabetes. Foresters first began to offer relaxed underwriting guidelines for its non-medical life insurance product portfolio in November 2019 including for Americans living with type 2 diabetes. A year later (November 2020) Foresters entered an arrangement with Roche Diabetes Care for discounts to members on diabetes monitoring and management products.