Forethought Vs Foresters

jacobtn · 10-03-2009, 12:25 AM

I write a good bit of FE. I am trying to decide which of these companies will be my "go to" for Simplied FE.

Foresters PROS

*Lower rates than Forethought
*5% more 1st year commission
*$3,500 advance limit per case instead of 1k
*On the spot approval as applied for, no surprises or offers by underwriters the next day for graded
*Member benefits
*Incentive trip to Virgin Islands (not a huge deal but worth noting as I would qualify if I use them)

Forethought PROS

Renewals yr 3-7 are 4% higher than Foresters (they are the same in yr 2)
12 months advance instead of Foresters 9

trailhiker · 10-03-2009, 02:47 PM

I like building the renewals, and if Forethought is a bit higher on the rates, that will offset the lower 1st year commission rate from Forethought. Plus, you're getting a 12 month advance vs a 9 month for that 1st yr check. That on the spot approval is a nice feature and can sure help out processing time and thereby getting paid. The decision might come down to this: underwriting. Is one tougher to get cases issued than the other. Definitely not a coin flip decision here. Good luck.

magagent · 10-03-2009, 04:13 PM

Most here will argue that Forethought will be better. Why not make RNA your primary?

TristanTLC · 10-03-2009, 04:31 PM

I don't know the Forethought product, so I can't make an informed comparison. I also do not sell the Forester FE product, but am familiar with the details.

I don't care about advances, I personally prefer as-earned. I like Foresters products and have had good luck with their underwriting for their UL policies.

jacobtn · 10-03-2009, 09:14 PM

Well Foresters is definitely more liberal on their underwriting. For example, insulin dependent diabetics, regardless of amount of units can get level coverage. Anything over 50 units will get graded with Forethought.

Also, if someone is on disability, they will get graded coverage with Forethought. With Foresters it's not an issue.