How Your Foresters Life Insurance Policy Could Get Your Child a Scholarship

Posted on May 13, 2013 and updated May 15, 2013 in Canadian Life Insurance Companies, Foresters Life, Life Insurance Canada News 2 min read
Group Insurance
The outstanding student in your life
could win a Foresters’ scholarship!

Foresters Life Insurance Company of Canada could contribute to your child’s post-secondary education.

The company offers its members the opportunity to apply for a scholarship toward their child’s or grandchild’s studies or their own university or college studies. Not all policyholders are members, though, and becoming a member depends on which policy you buy.

Since Foresters is a fraternal benefit society and a not-for-profit life insurer, most policyholders are members, and the scholarship opportunity is one of several benefits of membership. Many fraternal benefit societies offer scholarships, but Foresters is the largest fraternal organization in Canada.

“All fraternal organizations share a common bond. Foresters’ purpose is to support the well-being of families, so everything we do, including offering scholarships, goes back to that purpose,” says Warner.

To be eligible, the recipient must be entering their first degree or diploma program. The scholarship is awarded at $2,000 annually for four years, which certainly provides a great head-start for post-secondary students. In addition, the scholarship may also be put towards a diploma program or trade school.

Each applicant is required to prepare an application that highlights their volunteer work, academic prowess, and exemplary character. The main thrust of the application is a personal essay featuring all of these areas, along with a reference letter that shows off their volunteerism and an academic transcript.

“The scholarship is mainly based on volunteerism,” says Warner. “Foresters’ purpose is to promote family well-being and community, so volunteerism is the number one criteria we look at and marks are secondary and account for roughly one third of the application.”

Applications can only be submitted between December 1 and February 28 each year. For more information on how to apply, Foresters members can go to http://www.foresters.com/ca-en/membership/grants-scholarships/pages/default.aspx#.UY3Hao7FUzU
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