Award increased to $2,500, acknowledging active community-builders
TORONTO, Dec. 1, 2021 /CNW/ - Foresters Financial™ (Foresters), the fraternal life insurer that's boldly redefining the life insurance industry, announced today that it has launched the 2022-2023 academic year scholarship applications for its members and their families. Eligible students applying for a competitive scholarship for the first time can submit from December 1, 2021 – February 27, 2022. Applications for returning candidates run from January 31, 2022 – March 22, 2022. Recipients are eligible for awards for a total of four academic years. Learn more by visiting the Competitive Scholarship landing page on Foresters.com.
Foresters Competitive Scholarship benefit is designed to recognize success in the classroom with a special emphasis on community volunteer work. For the 2022 academic year, the amount of the annual competitive award increases to $2,500 in local currency, with a maximum of 300 awards in total provided for successful new applicants and returning candidates throughout Canada and the U.S.
To be eligible for consideration, applicants must be a Foresters member, a member's spouse, or a child/grandchild under the legal guardianship of a Foresters member. A minimum GPA (3.2/80%) and 50 volunteer hours within the 24 months up to the deadline are required to apply. Traditionally, 200 volunteer hours are required but it has been reduced for 2022-2023 acknowledging the limitations incurred by COVID-19. Meeting or exceeding these requirements does not guarantee that an applicant will be chosen as a scholarship recipient.
Foresters Global Chief Membership Officer Nicole Gourley said, "Foresters Competitive Scholarships reward students who demonstrate outstanding dedication to their community and display solid academic performance in school. All forms of volunteer work for local and community causes are encouraged and accepted. Our aim is to empower these students to achieve their goals and inspire them to use their knowledge to benefit others and improve lives."
To ensure complete impartiality in the selection and to maintain a high level of professionalism, the process is managed by International Scholarship and Tuition Services, Inc. (ISTS), which appoints a Selection Committee composed of international university and college representatives. The decision is based on Community Service (including recommendation letter and an essay) and Grades - with a 65%/35% weighting for those two elements.
Applicants apply via the ISTS portal, with an easy-to-reference checklist and Live Chat feature with a Foresters customer service representative, available to support the process.
Since 2012, Foresters has awarded over 6,500 tuition scholarships internationally, an investment of more than $21.5 million. Please find profiles for the 2021 recipients at this link.
Life Insurance with a Larger Purpose
Foresters goal is to develop innovative products, member benefits, and service that promote a lifetime of well-being, and align with Foresters fraternal purpose to enrich the lives of families and their communities. That's life insurance with a larger purpose.
Bringing a better, new normal to everyday North American families, Foresters offers a suite of unique member benefits and is redefining the conventional life insurance model. Member benefits1 include opportunities for scholarships, orphan benefits, community volunteer grants, wills and other legal documents, Lifelong Learning, MemberDeals, and more.
About Foresters Financial
Foresters Financial is quietly redefining the life insurance and individual savings industry across the U.S., Canada and UK 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. Dedicated to its members' well-being, Foresters offers a suite of member benefits and is redefining the conventional life insurance model, bringing improved financial security and overall wellness to everyday North American families. Foresters recently 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 20 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best2.
420312 CAN/US (11/21)
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.
Member benefits described assumes Foresters membership. 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.
The A.M. Best ratings assigned on July 29, 2021 reflect overall strength and claims-paying ability of The Independent Order of Foresters (IOF). 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. In assigning the ratings for IOF, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest ratings.
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SOURCE The Independent Order of Foresters
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