Foresters Financial announces a $24 million dividend payout for 2021, for participating U.S. certificate holders

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May 02, 2022, 14:00 ET

TORONTO, May 2, 2022 /PRNewswire/ - The Board of Directors for The Independent Order of Foresters has approved a dividend of approximately $24 million and a dividend investment rate of 5.8 percent for eligible¹ participating certificate holders in the United States for 2021. The dividend disbursed in 2020 was $24.4 million.

Since 1874, Foresters has an established history of regularly paying a dividend².

Foresters Financial Chief Financial Officer Alvin Sharma said, "The dividend reflects a strong commitment to our members, in a year where we experienced macroeconomic uncertainty and the continuation of a low interest environment. Foresters history of consistent dividend payments is underscored by our exceptional financial strength, as evidenced in receiving an "A" (Excellent) rating from A.M. Best³ for twenty-one straight years."

Life Insurance with a Larger Purpose

Bringing a better, new normal to everyday North American families, Foresters offers a suite of unique member benefits⁴, and is redefining the conventional life insurance model. Foresters member benefits include opportunities for scholarships, orphan benefits, community volunteer grants, document preparation service to create Wills and related documents, Lifelong Learning, and more.

About Foresters Financial

Foresters Financial is quietly transforming the life insurance industry across the U.S. and Canada by enriching the lives, communities, and overall well-being of its members. Agents and members alike appreciate the turnkey-decisioned product offerings and end-to-end digitized processes that make it easy to get life insurance without traditional medical exams. State-of-the-art mobile tools help agents deliver tailored plans to prospective and current members. Unique to fraternal life insurers, Foresters offers a suite of member benefits, redefines the conventional life insurance model and brings improved financial security and overall wellness to everyday North American families. Foresters has merged with Canada Protection Plan to become a leading life insurance distributor in Canada. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For twenty straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best.

For information purposes only.

Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.

Canada Protection Plan is a trademark of Canada Protection Plan Inc.

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¹ Does not apply to certificates where Foresters does not expect to pay dividends.

² Dividends are not guaranteed. Past performance is not an indicator of future performance.

³ The A.M. Best rating assigned on July 29, 2021 reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non IOF issued products. An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.

⁴ Description of member benefits that you may receive assumes you are a Foresters member. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice or are no longer available.

SOURCE The Independent Order of Foresters