Term life is the one policy type where the answer usually turns on a deadline rather than a balance. A Foresters term certificate builds no cash value, so there is nothing to surrender and nothing an institutional buyer can price on its own. What can carry value is the conversion privilege written into the contract, and that privilege expires.
Foresters is a trade name of The Independent Order of Foresters, a fraternal benefit society founded in 1874 and headquartered in Toronto, Ontario. It issues membership certificates rather than policies, and it currently offers three United States term products. This page covers how the conversion privilege works, why the window is time-critical, and what to ask before it closes. Pine Lake Life Solutions is not affiliated with Foresters, is not endorsed by Foresters, and does not purchase policies.
In This Article
- Why a Term Certificate on Its Own Has Nothing to Sell
- Foresters’ United States Term Lineup and the Conversion Language
- The Conversion Window Is the Clock That Matters
- Who Services Your Foresters Term Certificate
- Documents to Gather Before Any Review
- What Happens to Ownership After a Conversion
- If the Conversion Window Has Already Closed
- Frequently Asked Questions
Why a Term Certificate on Its Own Has Nothing to Sell
A term certificate is pure insurance for a defined number of years. There is no account value, no guaranteed cash value column and no nonforfeiture option. If you stop paying, coverage ends and nothing is returned. If you outlive the term, the same thing happens. That is the design working as intended, and it is why term costs a fraction of permanent coverage.
Institutional buyers in the life settlement market purchase contracts that will still be in force at the insured’s death. A term certificate that expires at age 75 will almost certainly not be, so on its own it is not a settlement candidate. The exception is the conversion privilege. If the contract allows the owner to exchange term coverage for permanent coverage without new medical underwriting, that right can turn an expiring certificate into a permanent one, and permanent coverage is what the market actually evaluates.
Foresters’ United States Term Lineup and the Conversion Language
As of 2026, Foresters lists three term products for the United States market: Your Term level term, Strong Foundation non-medical term, and Prepared II accidental death term. Your Term is described as providing coverage ranging from 10 years to 30 years. Strong Foundation is described by Foresters as flexible coverage that can be renewed, extended or converted to Foresters permanent life insurance.
That conversion reference is the sentence to focus on. Foresters permanent products currently include PlanRight whole life, Advantage Plus II participating whole life, Live Well Plus whole life, BrightFuture children’s whole life and SMART universal life. Foresters also states that its products and riders may not be available or approved in all states and are subject to eligibility requirements, underwriting approval, limitations and state variations. Product marketing pages describe the general design; only your own certificate and its riders set your actual conversion rights, available target products, and deadline.
The Conversion Window Is the Clock That Matters
Conversion privileges are almost never open for the full term. They are typically limited by a duration, by an attained age, or by whichever of the two arrives first. When that date passes, the right disappears permanently and cannot be reinstated, regardless of how many years of premium you have paid or how the coverage has performed.
This is why a term owner in poor health faces a genuinely urgent decision. Conversion without new evidence of insurability is most valuable precisely to someone who could no longer qualify for new coverage. A person whose health has declined may have a converted permanent certificate worth considering in a settlement review, while the same person one day after the deadline has nothing but an expiring term certificate.
Do not estimate this date. Call Foresters at 800-828-1540 and ask for your conversion expiry in writing, along with the list of permanent products your specific certificate can convert into and the premium at your current age.
| Step | What to request | Why it is time-critical |
|---|---|---|
| 1 | Issuing company name from the face page | Determines whether Foresters or Nassau services the certificate |
| 2 | Written conversion expiry date | The right ends permanently on that date |
| 3 | List of eligible permanent products | Determines what the converted contract becomes |
| 4 | Converted premium quote at current age | Shows whether the converted coverage is affordable |
| 5 | Rider carryover confirmation | Waiver and accidental death riders may not survive conversion |
| 6 | Current Transfer of Ownership Form | Only relevant after conversion is complete |
Who Services Your Foresters Term Certificate
Before you call, check which company issued the contract. Foresters sold Foresters Financial Holding Company, Inc. and its subsidiary Foresters Life Insurance and Annuity Company, or FLIAC, to Nassau Financial Group under an agreement announced October 17, 2019, and Nassau completed that acquisition on July 1, 2020. FLIAC served roughly 112,000 policyholders and held about $2.5 billion in assets at the time.
Coverage underwritten by The Independent Order of Foresters is still serviced by Foresters, at 800-828-1540 or service@foresters.com, Monday through Friday from 9 a.m. to 5 p.m. Eastern. Coverage issued by FLIAC is now serviced within the Nassau organization, which maintains its own forms and its own conversion administration. Sending a time-sensitive conversion request to the wrong company can burn weeks you may not have.
Documents to Gather Before Any Review
A useful conversation with a licensed professional starts with paper rather than recollection. Request the following from whichever company services your certificate, and ask for it in writing.
- The certificate face page showing the issuing company, certificate number, face amount, issue date and term length.
- A written statement of the conversion expiry date, expressed as both a duration and an attained age.
- The list of permanent products your certificate may convert into, and whether conversion is for the full face amount or a reduced amount.
- A quote for the converted premium at your current age.
- Any riders attached, including waiver of premium or accidental death, and whether they carry over on conversion.
- The current Transfer of Ownership Form, if a change of ownership is under discussion.
Foresters publishes a fillable Transfer of Ownership Form in its United States customer care forms library, alongside beneficiary change, certificate change and name change forms.
What Happens to Ownership After a Conversion
Conversion and a change of ownership are two separate transactions, and they happen in that order. You convert first, which produces a permanent certificate. Only after that certificate is in force does an ownership transfer become relevant.
Foresters distinguishes between an absolute assignment, which transfers the ownership rights in a certificate to a third party along with control over coverage decisions and beneficiary designations, and a collateral assignment, which is conditional and names a lender as beneficiary to secure a loan. A settlement requires the absolute form. The Foresters Transfer of Ownership Form identifies the current owner as the certificate owner, absolute assignee or annuitant, and names the new owner separately.
Any legitimate process is documented, is disclosed in writing, and moves at the carrier’s pace. Be skeptical of anyone who suggests otherwise.
If the Conversion Window Has Already Closed
An expired conversion privilege is not automatically the end of the conversation, but it does narrow it considerably. Some contracts remain renewable at increasing annual rates after the level period, which buys time without creating a sellable asset. Some owners find that a different existing policy, rather than the term certificate, is the one worth reviewing.
It is also worth confirming your own understanding of the deadline before accepting it. Conversion terms differ by product, by issue year and by state, and the version of the rule that appears in a producer guide may not match the version in your contract.
Pine Lake Life Solutions offers a free, no-obligation policy review of what you own. Pine Lake does not purchase policies, is not affiliated with Foresters, and does not provide legal, tax or investment advice. No option described here is guaranteed to be available to you, and no value can be promised in advance.
Frequently Asked Questions
Can I sell a Foresters term certificate without converting it first?
In almost all cases, no. Term coverage has no cash value and expires at the end of the level period, so an institutional buyer has nothing to hold to the insured’s death. The conversion privilege is what changes that, because it produces a permanent certificate. Whether your certificate can convert, and until when, is set by your specific contract.
How do I find my Foresters conversion deadline?
Ask the carrier in writing rather than relying on a brochure. Foresters United States customer service is reachable at 800-828-1540 or by email at service@foresters.com on weekdays. Request the expiry expressed both as a policy duration and as an attained age, since most contracts use whichever arrives first.
Does conversion require a new medical exam?
A conversion privilege generally allows the exchange without new evidence of insurability, which is the entire point of the feature for someone whose health has declined. Increases in coverage beyond the original face amount are typically underwritten separately. Confirm the exact terms for your certificate with the servicing carrier before assuming either way.
Why does my Foresters paperwork say certificate instead of policy?
Foresters Financial is a trade name of The Independent Order of Foresters, a fraternal benefit society founded in 1874. Fraternal societies issue membership certificates rather than insurance policies, which is why the service forms are titled certificate change, certificate loan and certificate surrender. The coverage functions as life insurance, but the terminology and some legal protections differ.
Will Pine Lake buy my term policy if I convert it?
No. Pine Lake Life Solutions does not purchase life insurance policies of any type and is not affiliated with or endorsed by Foresters. Pine Lake offers a free, no-obligation review to help you understand your conversion rights and your options. Nothing on this page is legal, tax or investment advice, and no eligibility or value is guaranteed.
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Related Reading
- Sell My Foresters Whole Life Policy
- Sell My Foresters Universal Life Policy
- How Do Life Settlements Work
- Life Insurance Grace Period Explained
- Change Of Ownership Life Insurance
- How Health Affects Life Settlement Value
- Sell My Transamerica Term Policy
Pine Lake Life Solutions does not purchase life insurance policies and does not provide legal, tax, or investment advice. Information provided is for educational purposes only. Eligibility for any option, including life settlements, is not guaranteed and depends on individual circumstances, policy terms, underwriting, and market conditions. Consult independent legal, tax, or financial professionals before making decisions regarding a life insurance policy.