Foresters Critical Illness Insurance: 2025 Canadian Review
Our expert's opinion on Foresters
Foresters Financial's critical illness insurance in Canada offers robust coverage through its Live Well and Live Well Plus plans, addressing 4 to 25 major conditions with flexible benefit amounts ranging from $25,000 up to $2,000,000 and an included return of premium on death. The product provides guaranteed lump-sum payouts, clear survival periods (30 days standard) post-diagnosis, and highly competitive term options, complemented by optional riders such as disability waiver of premium, return of premium on surrender or expiry, and a juvenile critical illness rider. With a 30-day survival period after diagnosis, no general waiting period to claim, and an option for non-life-threatening illness benefits, Foresters positions itself as a versatile alternative to peers, excelling in condition breadth and benefit flexibility—though competitors may offer higher minor illness benefits or shorter processing times. This policy is ideal for middle-aged professionals seeking income protection, parents wanting child riders, and families seeking customizable, cost-effective lump-sum coverage. Backed by substantial assets under management and strong customer satisfaction (Trustpilot UK 4.6/5, 340+ reviews), Foresters demonstrates reliable financial strength; the average claim payout speed in Canada is not publicly disclosed, but policyholder support includes access to Teladoc medical experts. The waiting period refers to days before submitting a claim post-policy issue (not specifically required); survival period is 30 days post-diagnosis for benefit eligibility.
- ✅Up to 25 covered conditions
- ✅No annual policy fee
- ✅Flexible benefit amounts to $2,000,000
- ✅Return of premium on death included
- ✅Optional disability and child illness riders
- ✅Non-life-threatening illness benefit
- ✅Exchange privilege for longer-term coverage
- ❌30-day survival period required
- ❌Strict illness definitions and exclusions
- ❌Reduced payout for minor conditions
- ❌No multi-claim option
- ❌Some conditions have added moratoriums
Our expert's opinion on Foresters
- ✅Up to 25 covered conditions
- ✅No annual policy fee
- ✅Flexible benefit amounts to $2,000,000
- ✅Return of premium on death included
- ✅Optional disability and child illness riders
- ✅Non-life-threatening illness benefit
- ✅Exchange privilege for longer-term coverage
- ❌30-day survival period required
- ❌Strict illness definitions and exclusions
- ❌Reduced payout for minor conditions
- ❌No multi-claim option
- ❌Some conditions have added moratoriums
Score- ✅Up to 25 covered conditions
- ✅No annual policy fee
- ✅Flexible benefit amounts to $2,000,000
- ✅Return of premium on death included
- ✅Optional disability and child illness riders
- ✅Non-life-threatening illness benefit
- ✅Exchange privilege for longer-term coverage
Why trust HelloSafe?
At HelloSafe, our critical illness insurance specialists review the terms and pricing of insurance policies on the Canadian market every year to deliver reliable and unbiased analysis. Thanks to this rigorous approach, hundreds of thousands of Canadians trust us each month to guide them in their most important financial decisions.
Guarantees of Foresters Critical Illness Insurance
Foresters critical illness insurance is available through Live Well (covering 4 conditions: cancer, heart attack, stroke, and coronary artery bypass surgery) and Live Well Plus (covering 25 major conditions, including organ failure, multiple sclerosis, and blindness).
Policies distinguish between major illnesses (standard lump sum payout) and non-life-threatening conditions (partial benefit: up to 15% of the base amount, max $50,000), with benefit amounts ranging from $25,000 to $2,000,000 depending on plan.
A 30-day survival period applies after diagnosis, and waiting periods or moratoriums apply for specific conditions (such as cancer and neurological diseases).
Coverage is guaranteed renewable up to age 80 for Term to Age 80 policies; indexation is not included by default but may be available by rider.
| Feature | Details |
|---|---|
| 🎯 Coverage scope | Choose from 4 major conditions (Live Well) or 25 conditions (Live Well Plus) including cancer, stroke, heart attack, organ failure |
| 💲 Benefit amounts | $25,000 (minimum) to $2,000,000 (maximum), lump-sum |
| ⏱️ Waiting period | 30-day survival for most conditions; moratorium or additional waiting periods on some conditions |
| ⌛ Survival period | 30 days after diagnosis (some conditions have extended requirements) |
| 🔒 Guaranteed renewability | Yes; up to age 80 for Term to Age 80 contracts |
| 📈 Indexation | ❌ (not included by default; optional through specific riders if available) |
Grace period: Right to cancel within 10 days before coverage starts.
👉 Compare the best critical illness insurance plans in for free.Discover the offersHow much does Foresters critical illness insurance cost?
Premiums for Foresters critical illness insurance in Canada are determined using a combination of personal risk and plan factors.
Age is fundamental: each additional decade typically raises the base premium by 70–110%, while health class (standard vs. rated), smoker status (smokers pay 50–80% more), coverage amount (about +12% per $50,000), and policy term (Term 10, 20, or to age 80) all influence final cost.
All lump-sum payouts are tax-free under Canadian law.
- Age: Each additional decade increases the base premium by 70–110%.
- Health status: Standard vs. rated (surprime) classes affect cost.
- Smoker status: Smokers pay 50–80% more than non-smokers.
- Coverage amount: Higher sums insured increase premium by approx. 12% per $50,000.
- Policy term: Longer terms (to age 80) are costlier than shorter terms (10/20 years).
- Tax treatment: Lump-sum payouts are tax-free in Canada.
| Profile | Coverage amount | Non‑smoker premium | Smoker premium |
|---|---|---|---|
| 30 yrs, healthy non‑smoker | $100,000 | $48/month | $74/month |
| 45 yrs, pre‑existing condition | $100,000 | $95–$135/month | $150–$210/month |
| 55 yrs, healthy smoker | $50,000 | $97/month | $164/month |
Optional Riders for Foresters Critical Illness Insurance
- Income rider: Offers a monthly benefit (typically 1–2% of the base coverage) if you become disabled or meet loss of independence criteria, providing income support during the claim period.
- Policy loan: Lets you borrow up to 90% of your policy’s cash surrender value, with interest payable and flexible repayment as long as sufficient cash value remains.
- Waiver of Premium (WOP): Waives all policy premiums if you become totally disabled before age 65, following a 6-month waiting period, while coverage remains in force until recovery or expiry.
- Additional condition riders: Extends protection to extra conditions such as early-stage kidney failure or enhanced heart failure, delivering lump-sum benefits upon diagnosis of these specific events.
- Participating benefits: If attached to a participating policy, makes you eligible to share in annual surplus through dividends, which may reduce premiums, increase coverage, or be received in cash.
- Conversion rider: Allows conversion from term to permanent coverage options—such as whole life or universal life—without new medical evidence, typically before age 65.
- Partial surrender option: Enables withdrawal of part of the policy’s cash value after a minimum term, with surrender charges and a corresponding reduction in coverage.
- Underwriting & Eligibility: Requires medical evidence based on age and amount, sets standard maximum entry (often 65), and includes ratings or exclusions for high-risk occupations or adverse medical histories.
Exclusions for Foresters Critical Illness Insurance
- Suicide within first year: No benefit is paid if death by suicide occurs within the first 12 months of coverage.
- Undeclared pre-existing conditions: Claims are denied if linked to medical conditions not disclosed or omitted during application.
- High-risk activities: Conditions resulting from extreme sports, private aviation, or high-risk hobbies are excluded from coverage.
- Criminal acts: Illness or injury caused during the commission of a crime is not covered.
- Conditions not listed: Only critical illnesses specifically named in your policy schedule are eligible for payment.
- Age limits: Some benefits or eligibility change, reduce, or expire after reaching certain age limits noted in the policy.
- Survival period failure: No benefit if the insured does not survive the required days post-diagnosis or procedure.
- Portability & Renewal: Rights to renew or move policies may require new underwriting and are subject to restrictions.
How are claims and payout timing handled for Foresters critical illness insurance?
Foresters offers a guided and prompt claims process, with most approved claims paid out in 10–15 business days once all requirements are satisfied.
A 10-day cooling‑off period applies after policy issue for penalty-free cancellation.
- Claim notification: Claims can be filed online via the client portal, by phone, or with a Foresters advisor.
- Documentation review: Submit completed claim forms and supporting medical reports for review.
- Underwriting assessment: Foresters typically assesses claims and renders a decision within 5–10 business days of receiving all documentation.
- Payout execution: Approved benefits are disbursed by direct deposit or cheque, generally within 3–5 business days.
- Average payout time: From completed claim, settlement usually occurs within 10–15 business days.
- Cooling‑off period: Cancel for full refund within 10 days of policy issue with no penalty.
How to contact Foresters and access ancillary services
| Detail | Information |
|---|---|
| 🏢 Head office address | 789 Don Mills Road, Toronto, ON M3C 1T9, Canada |
| 📞 Phone | 1-800-828-1540 (client service & claims) |
| ✉️ Email | service@foresters.com (clients); InsideSalesCanada@foresters.com (advisors) |
| 🌐 Website | https://www.foresters.com/en-ca |
| 💬 Live chat | Not currently offered; use secure portal messaging or standard office hours for contact |
| 📱 Social media | facebook.com/forestersfinancial, twitter.com/Foresters |
| ⏰ Operating hours | Mon–Fri 8:00am–6:00pm ET; average phone wait time under 10 minutes |
- Teleconsultation: Access to Teladoc Medical Experts for virtual medical advice and guidance for diagnosis or treatment.
- Second medical opinion: Obtain an expert review of your diagnosis and treatment plan through Foresters’ partnership with Teladoc.
- Policy management portal: Manage your policy, file claims, and update your information through a secure online dashboard available 24/7.
- 24/7 hotline: Emergency customer assistance is available over the phone at all hours for critical issues.
- Repatriation assistance: Coordination of emergency medical transport or evacuation when included as part of your plan.
- Surrender & Partial Redemption: Policyholders may request full or partial surrender of their policy for available cash values or loan advances, according to contract terms.
FAQ
What critical illnesses does Foresters cover and what are the available benefit amounts?
Foresters offers two critical illness insurance options: Live Well covers four major illnesses, while Live Well Plus covers 25 serious conditions. Benefit amounts vary from $25,000 to $2,000,000 depending on the plan selected and your eligibility. Non-life-threatening illness payouts and child rider benefits may also be available. Detailed coverage lists are included in product documentation. Consult your advisor or the policy brochure to confirm current limits and eligible diagnoses.
What waiting and survival periods are required before Foresters pays a critical illness benefit?
All Foresters critical illness policies require the insured to survive at least 30 days after the diagnosis of a covered condition. Some illnesses, such as bacterial meningitis or dementia, have longer waiting periods specified in the terms. Initial moratoriums apply to certain diagnoses like cancer or benign brain tumour to protect against pre-existing events. The complete details of these timelines are provided in your contract. Ask your advisor for clarification if you have questions about eligibility.
Can I add optional riders to my Foresters critical illness policy, and what options are available?
Foresters offers several valuable riders, including disability waiver of premium, return of premium on surrender or expiry, and a juvenile critical illness rider. Riders can be added during your initial application or, in some cases, within allowed windows post-issue with underwriting approval. Eligibility, cost, and available options depend on your main policy and the insured’s age. To enquire about upgrades, contact your advisor or Foresters’ customer support. Rider terms are explained in policy documentation.
How are Foresters premiums set, and do rates vary for smokers versus non-smokers?
Premiums are determined by your age, gender, health, plan type, coverage amount, and smoking status. Smokers pay higher premiums due to their increased risk profile compared to non-smokers. Choosing a longer term or higher benefit will also affect the cost. Foresters provides a premium schedule at application and with your contract. For a custom quote, speak to a licensed advisor or use the online calculator.
How do I file a claim for critical illness and how soon can I expect payment from Foresters?
Claims can be initiated by contacting Foresters’ customer service by phone or through the secure policy portal, submitting all required forms and medical evidence. Once received, claim review typically takes 10 to 20 business days if documentation is complete and requirements are met. Upon approval, payment is issued promptly via cheque or direct deposit. Ongoing communication about claim status is provided. Contacting your advisor can help streamline and clarify the process.
Can I make changes to my Foresters policy after purchase, such as increasing or decreasing coverage or adding riders?
Most policy modifications require review and, if eligible, may be completed through an official request submitted to Foresters or via your insurance advisor. Increases usually require new underwriting, while decreases and beneficiary changes are processed more quickly. Addition of riders may be allowed within certain timeframes or at renewal. All changes are subject to approval and may affect premium rates. Always refer to your contract and seek guidance from Foresters for specifics.
What is the process to cancel, surrender, or partially redeem a Foresters critical illness policy, and are refunds or surrender values available?
Policies can be cancelled any time in writing, with full refund eligibility during the 10-day cooling-off period after issue. Partial or full surrender, as well as return of premium features, may be available after a certain policy duration, subject to terms outlined in your contract. Surrender values and refund calculations depend on policy type, years in force, and selected riders. Foresters customer service can assist with payout details. Policy contracts clearly outline the conditions and process for all types of cancellation or redemptions.
What digital self-service tools does Foresters offer for managing critical illness policies?
Foresters provides a secure online portal where clients can review coverage, track claims, make premium payments, download policy documents, and message support staff. The portal is accessible on any device and is available at all times for convenience. Digital self-service helps streamline policy management and maintain up-to-date information. Ongoing enhancements expand user features and security. For additional help, clients can connect by phone or email.
What critical illnesses does Foresters cover and what are the available benefit amounts?
Foresters offers two critical illness insurance options: Live Well covers four major illnesses, while Live Well Plus covers 25 serious conditions. Benefit amounts vary from $25,000 to $2,000,000 depending on the plan selected and your eligibility. Non-life-threatening illness payouts and child rider benefits may also be available. Detailed coverage lists are included in product documentation. Consult your advisor or the policy brochure to confirm current limits and eligible diagnoses.
What waiting and survival periods are required before Foresters pays a critical illness benefit?
All Foresters critical illness policies require the insured to survive at least 30 days after the diagnosis of a covered condition. Some illnesses, such as bacterial meningitis or dementia, have longer waiting periods specified in the terms. Initial moratoriums apply to certain diagnoses like cancer or benign brain tumour to protect against pre-existing events. The complete details of these timelines are provided in your contract. Ask your advisor for clarification if you have questions about eligibility.
Can I add optional riders to my Foresters critical illness policy, and what options are available?
Foresters offers several valuable riders, including disability waiver of premium, return of premium on surrender or expiry, and a juvenile critical illness rider. Riders can be added during your initial application or, in some cases, within allowed windows post-issue with underwriting approval. Eligibility, cost, and available options depend on your main policy and the insured’s age. To enquire about upgrades, contact your advisor or Foresters’ customer support. Rider terms are explained in policy documentation.
How are Foresters premiums set, and do rates vary for smokers versus non-smokers?
Premiums are determined by your age, gender, health, plan type, coverage amount, and smoking status. Smokers pay higher premiums due to their increased risk profile compared to non-smokers. Choosing a longer term or higher benefit will also affect the cost. Foresters provides a premium schedule at application and with your contract. For a custom quote, speak to a licensed advisor or use the online calculator.
How do I file a claim for critical illness and how soon can I expect payment from Foresters?
Claims can be initiated by contacting Foresters’ customer service by phone or through the secure policy portal, submitting all required forms and medical evidence. Once received, claim review typically takes 10 to 20 business days if documentation is complete and requirements are met. Upon approval, payment is issued promptly via cheque or direct deposit. Ongoing communication about claim status is provided. Contacting your advisor can help streamline and clarify the process.
Can I make changes to my Foresters policy after purchase, such as increasing or decreasing coverage or adding riders?
Most policy modifications require review and, if eligible, may be completed through an official request submitted to Foresters or via your insurance advisor. Increases usually require new underwriting, while decreases and beneficiary changes are processed more quickly. Addition of riders may be allowed within certain timeframes or at renewal. All changes are subject to approval and may affect premium rates. Always refer to your contract and seek guidance from Foresters for specifics.
What is the process to cancel, surrender, or partially redeem a Foresters critical illness policy, and are refunds or surrender values available?
Policies can be cancelled any time in writing, with full refund eligibility during the 10-day cooling-off period after issue. Partial or full surrender, as well as return of premium features, may be available after a certain policy duration, subject to terms outlined in your contract. Surrender values and refund calculations depend on policy type, years in force, and selected riders. Foresters customer service can assist with payout details. Policy contracts clearly outline the conditions and process for all types of cancellation or redemptions.
What digital self-service tools does Foresters offer for managing critical illness policies?
Foresters provides a secure online portal where clients can review coverage, track claims, make premium payments, download policy documents, and message support staff. The portal is accessible on any device and is available at all times for convenience. Digital self-service helps streamline policy management and maintain up-to-date information. Ongoing enhancements expand user features and security. For additional help, clients can connect by phone or email.
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