Foresters Life Insurance Company (Formerly Unity Life of Canada)Back to list
President & CEO: Sharon T. Giffen
AM Best Rating: A - (Excellent)
Total Assets: $1.5 billion
Net Income: $-2.9 million (the negative balance may be a result of Foresters' acquisition of the assets of the bankrupt Unity Life in 2012)
Net Premiums Written: $110.3 million
Financial Size Category: VIII ($100 million to $250 million)
FSR Outlook: Stable
Best's Issuer Credit Rating: a-
ICR Outlook: Stable
As of Date: 07/03/2013
Organization Type: Stock
Specialty Lines of Business: Term Life Insurance
Marketing Type: n/a
Foresters of Canada
789 Don Mills Rd.
1660 Tech Avenue, Suite 3,
Mississauga, Ontario, Canada
Toll Free: 1-800-267-8777
Web Address: www.foresters.com
* Info courtesy of 2011 Financial Highlights and Annual Report
*Rating courtesy of www.ambest.com, accessed Feb. 2012
On January 23, 2012, Unity Life of Canada, officially changed its name to Foresters Life Insurance Company.
Unity Life of Canada was formed in 2002 when Toronto Mutual Life and Western Life Assurance merged. Its history actually dates back to 1898 when the company was founded as the Insurance Department of the Subsidiary High Court of the Ancient Order of Foresters. Most recently on April 2, 2008, Unity Life was converted from a mutual life company to a stock life insurance company owned by Foresters. The Toronto-based company offers a competitive lineup of traditional life insurance products such as term, permanent and living benefits insurance.
It is also an active player in the niche markets, offering complete accident and sickness insurances and financial protection.
Unity Life also underwrites a host of unique non medical simplified issue products marketed by Canada Protection Plan
Unity Life of Canada News
Unity Life of Canada policies
1. They have a wide variety of term policie. They are one of the few companies in Canada offering a five-year term.
2. They have participating Whole Life policies.
1. Very limited disability insurance options.
2. Universal Life level cost policies are not competitively priced at certain age brackets.