Foresters: State of New York important notice on new business applications
Important notice on new business applications for the State of New York
On March 31, 2022, Foresters Financial™ will stop accepting new life insurance applications in the state of New York. This decision does not impact our business in any other state.
Foresters remains committed to providing the highest level of service to our existing New York customers and will continue to honor all contractual obligations on in-force certificates in the state of New York. Foresters Members will continue to have access to member benefits¹.
As of March 31, 2022, the following products² will no longer be offered for sale:
| • | Advantage Plus II | ||
| • | SMART UL | ||
| • | Your Term | ||
| • | PlanRight |
In preparation for the March 31, 2022, cut off please review the following transition rules and important dates for both iPipeline e-App³ and paper applications.
For iPipeline e-App submissions (based on application lock date)
| • | Applications must be signed and submitted on or before March 31, 2022, to be accepted. | ||
| • | Applications locked on or before March 31, 2022, but not signed and submitted until on or after April 1, 2022, will not be accepted. |
For paper application submissions (based on application signed date)
| • | Applications signed on or before March 31, 2022, must be received on or before April 15, 2022, to be accepted. | ||
| • | Applications signed on or before March 31, 2022, and received after April 15, 2022, will be returned/cancelled/not accepted. | ||
| • | Applications signed on or after April 1, 2022, will not be accepted. |
Applications accepted will continue to be processed as long as all requirements have been satisfied for an issue date on or before May 15, 2022, and all delivery requirements must be satisfied by May 31, 2022. You will be able to track these applications through Certificate Details as you do today.
Foresters stays committed to your success and our team is here to support you through this change. We thank you for your business.
Matt Berman
President
Foresters Financial US
