Forethought Life Insurance Review (Updated for 2025)

Planning for the future often involves considering life insurance, especially policies designed to cover final expenses. You might have come across the name Forethought Life Insurance in your research. While Forethought built a reputation, particularly in the final expense and pre-need insurance market, it’s crucial to know that the landscape has changed. Understanding these changes and knowing how to navigate the broader insurance market is key to finding the protection that truly fits your needs and budget.

This is where Insurance By Heroes comes in. As an independent insurance agency founded by a former first responder and military spouse, we understand the importance of reliable information and personalized guidance. Our team, many with backgrounds in public service, is dedicated to helping individuals and families secure the right coverage. We don’t work for just one insurance company; we partner with dozens of top-rated carriers across the nation. This allows us to objectively shop the market for you, comparing policies and pricing to find solutions tailored specifically to your situation. Whether exploring options related to the legacy of Forethought or considering other providers, our focus is always on your best interests.

This article will provide an updated look at Forethought Life Insurance, explaining its transition to Global Atlantic Financial Group, the types of products involved, and how they fit into the larger picture of life insurance planning. Critically, we’ll emphasize why comparing options through an independent agency like Insurance By Heroes is essential, ensuring you don’t limit your choices to just one company when a better fit might be available elsewhere.

What Was Forethought Life Insurance?

Forethought Life Insurance Company had a long history, carving out a specific niche within the insurance industry. For many years, it was primarily known for specializing in “pre-need” life insurance and final expense insurance products. These types of policies are designed specifically to help cover the costs associated with funerals, burials, cremations, and other end-of-life expenses.

Pre-need insurance often involves arrangements made directly with funeral homes, where the policy’s death benefit is assigned to cover the costs of a pre-planned funeral service. Final expense insurance, while serving a similar purpose of covering end-of-life costs, typically pays the death benefit directly to a named beneficiary, offering more flexibility in how the funds are used.

In 2014, a significant change occurred: Forethought Financial Group, Inc., including Forethought Life Insurance Company, was acquired by Global Atlantic Financial Group. This means that while the Forethought Life Insurance Company entity might still technically exist as an underwriting subsidiary, new policies and the overall brand identity fall under the Global Atlantic umbrella. If you have an older Forethought policy, it’s now serviced and backed by the financial strength of Global Atlantic. If you’re looking for products similar to what Forethought offered, you’ll now be exploring the offerings of Global Atlantic.

Understanding this transition is important. While the legacy and product focus might continue, you are dealing with a different parent company today. Global Atlantic is a large, well-established financial services company offering a range of retirement and life insurance products. However, just because a company is large or has acquired a known brand doesn’t automatically make its specific policies the best choice for everyone. Every individual’s situation is unique, which highlights the importance of comparing options from multiple carriers – a core service provided by Insurance By Heroes.

Global Atlantic Life Insurance Products (Continuing the Forethought Legacy)

With Forethought now part of Global Atlantic, the products reminiscent of Forethought’s focus are offered under the Global Atlantic brand. They continue to provide options aimed at covering end-of-life expenses, primarily through final expense whole life insurance policies.

Final Expense Insurance

Global Atlantic offers final expense insurance, often categorized as simplified issue whole life insurance. Here’s a breakdown of typical features:

• Purpose: Designed primarily to cover funeral costs, burial or cremation expenses, outstanding medical bills, legal fees, or other debts that might be left behind.
• Death Benefit Amounts: These policies typically offer smaller death benefit amounts compared to traditional term or whole life insurance, often ranging from $5,000 to $40,000 or $50,000. The idea is to cover specific final expenses rather than provide significant income replacement.
• Underwriting: Underwriting is usually “simplified.” This means you’ll likely answer health questions on the application, and the insurance company may check prescription history and MIB (Medical Information Bureau) records, but a full medical exam (like drawing blood or urine samples) is typically not required. This makes it accessible for individuals who might have some health issues that could make qualifying for traditionally underwritten policies more difficult or expensive.
• Policy Type: These are generally whole life insurance policies. This means coverage is designed to last your entire lifetime (as long as premiums are paid), and they build cash value over time, which can be borrowed against or surrendered (though this will reduce the death benefit).
• Premium Structure: Premiums are usually level, meaning they are designed to remain the same for the life of the policy.
• Graded Death Benefits: Some simplified issue policies, particularly those for individuals with more significant health concerns, may have a “graded” death benefit. This means if the insured passes away from natural causes within the first two or three years of the policy, the beneficiaries might receive only a return of the premiums paid, plus some interest, rather than the full face amount. Accidental death typically pays the full benefit from day one. It’s crucial to understand if a policy has graded benefits.

While Global Atlantic provides these options, it’s vital to remember they are just one provider in a crowded market. Companies have different underwriting guidelines, pricing structures, and available death benefit amounts. Some may be more lenient with certain health conditions than others. Insurance By Heroes can help you compare Global Atlantic’s final expense offerings against policies from numerous other carriers to see which provides the best value and coverage terms based on your specific health profile and needs.

Pre-Need Funeral Insurance Considerations

While Global Atlantic’s primary focus in this area seems to be final expense insurance payable to a beneficiary, the concept of pre-need insurance, which Forethought was known for, still exists in the market, often sold through funeral homes.

Pre-need plans typically involve selecting specific funeral goods and services in advance and funding them with an insurance policy where the benefit is assigned directly to the funeral home. The main advantage is locking in today’s prices for certain services (though not always all costs). However, disadvantages can include lack of flexibility if you move, if the funeral home goes out of business, or if your family prefers different arrangements later. The funds are tied to a specific purpose and provider.

Final expense insurance paid to a beneficiary generally offers more flexibility, allowing your loved ones to choose the funeral home and arrangements they prefer and use any remaining funds for other needs. Again, understanding these differences and comparing them to your goals is key. As an independent agency, Insurance By Heroes can help you weigh the pros and cons of different approaches to funding final expenses, looking beyond just one company like Global Atlantic/Forethought.

The Importance of Planning for Final Expenses

Addressing the topic of final expenses isn’t always comfortable, but it’s a practical and considerate step in financial planning. Life insurance designed for this purpose, whether from Global Atlantic or another carrier sourced through Insurance By Heroes, serves a critical role in protecting loved ones during an already difficult time.

Consider the costs involved. According to the National Funeral Directors Association (NFDA), the median cost of a funeral with viewing and burial in the United States can easily exceed $8,000, and with a vault (often required by cemeteries), it can approach $10,000. Cremation costs can be lower, but depending on the services chosen (viewing, urn, memorial service), they can still amount to several thousand dollars ($6,000-$7,000 is not uncommon for cremation with memorial services).

These figures often don’t include cemetery plot costs, headstones or markers, or other potential expenses like flowers, obituaries, or catering for a reception. Beyond funeral-specific costs, there can be other outstanding debts:

• Unpaid medical bills from a final illness or hospital stay.
• Credit card balances or other personal loans.
• Legal or administrative fees associated with settling an estate.
• Potential travel costs for family members attending the service.

Without dedicated funds set aside, these costs fall directly on surviving family members, often spouses or children. This financial burden arrives at a time when they are grieving and emotionally vulnerable. Relying on savings isn’t always feasible, as those funds might be needed for ongoing living expenses, especially for a surviving spouse. Selling assets quickly might mean accepting a lower value.

A final expense life insurance policy provides a relatively quick, tax-free cash payout directly to the beneficiary upon the insured’s death (assuming policy terms are met). This liquidity allows families to cover immediate expenses without financial strain or delay. It provides peace of mind, knowing that you’ve taken steps to prevent adding a financial burden to your family’s grief.

Insurance By Heroes understands the desire to protect your family. Our team, with roots in service professions like first response and the military community, deeply values planning and preparedness. We help clients assess their potential final expense needs and explore policies from various carriers, including Global Atlantic, to find an affordable way to ensure those needs are met, providing dignity and security for their loved ones.

Is Global Atlantic (Forethought) the Right Choice?

When evaluating any insurance company, including Global Atlantic as the successor to Forethought, it’s essential to look at both its strengths and factors that might make it less suitable for your specific circumstances. No single insurance company is the perfect fit for everyone.

Potential Strengths of Global Atlantic:

• Financial Stability: Global Atlantic Financial Group generally holds strong financial strength ratings from major rating agencies like AM Best (typically in the ‘A’ range, indicating excellent ability to meet policyholder obligations). Financial stability is crucial for a life insurance company, ensuring it can pay claims far into the future. (Note: Ratings can change and apply to specific underwriting subsidiaries; always verify current ratings).
• Specialization Focus: Continuing the Forethought legacy, Global Atlantic has experience in the final expense market. Their products are specifically designed for this purpose, which might mean streamlined application processes (simplified underwriting) suitable for seniors or those with some health conditions.
• Whole Life Benefits: Their final expense products are typically whole life policies, offering lifelong coverage and cash value accumulation, which appeals to those seeking permanent protection and a savings component.

Considerations and Why Comparison is Crucial:

• Pricing Competitiveness: While potentially strong, Global Atlantic may not always offer the lowest premiums. Pricing for life insurance, even simplified issue, varies significantly between carriers based on their underwriting guidelines, target market, and overhead costs. Another company might offer a similar death benefit for a lower premium, especially if you are in relatively good health for your age.
• Underwriting Niches: Every insurance company has its own “sweet spot” regarding health conditions. Global Atlantic might be favorable for certain conditions but less competitive for others. For example, one company might offer better rates for well-controlled diabetes, while another might be more lenient towards applicants with a history of certain heart conditions. Without comparing, you won’t know if Global Atlantic’s underwriting is the most advantageous for your specific health profile.
• Product Range Limitations: While strong in final expense, if you need a larger death benefit, different types of coverage (like term life or guaranteed universal life), or specific policy riders not offered by Global Atlantic, you would need to look elsewhere. Their focus, while a strength in one sense, can also be a limitation.
• Graded Death Benefit Periods: Like many simplified issue carriers, some Global Atlantic policies might include a two- or three-year graded death benefit period for non-accidental death, especially for applicants with more significant health issues. While common, comparing the terms and length of these periods across different insurers is important. Some might offer full coverage from day one, potentially at a higher premium or with slightly stricter underwriting.

This is precisely why working with an independent agency like Insurance By Heroes is so valuable. We aren’t tied to promoting Global Atlantic or any single carrier. Our allegiance is to you, the client. We take the time to understand your health, budget, and coverage goals. Then, we leverage our access to dozens of insurance companies to find the policies that offer the best combination of coverage, features, and price for *your* unique situation. Our background in public service means we approach this with diligence and a commitment to finding the right solution, not just selling a policy. We can determine if Global Atlantic truly is competitive for you or if another carrier offers a better value proposition.

Finding Your Best Fit: The Insurance By Heroes Approach

Choosing the right life insurance policy involves more than just picking a familiar name or the first option you encounter. It requires understanding your own needs and comparing how different insurance carriers meet those needs. This is the core philosophy behind Insurance By Heroes.

As an independent insurance agency, we operate fundamentally differently from captive agents who represent only one company (like State Farm, Allstate, or agents selling exclusively for a company like Global Atlantic/Forethought). We are not obligated to steer you towards a specific product line. Instead, our loyalty lies entirely with you, our client.

Here’s how the Insurance By Heroes advantage works for you:

• Access to a Wide Market: We have established relationships with dozens of highly-rated life insurance companies across the country. This includes major national insurers, smaller niche carriers, and companies specializing in specific products like final expense insurance (such as Global Atlantic) or policies favorable for certain health conditions. This broad access is crucial because the insurance landscape is diverse, and the best company for one person is rarely the best for everyone.
• Personalized Needs Analysis: Our process begins with understanding *you*. We discuss your reasons for seeking insurance, your budget, your health history, the amount of coverage you need, and who your beneficiaries are. Our team, many having served as first responders, military family members, or in other public service roles, brings a unique perspective of empathy and thoroughness to this process. We understand the importance of security and planning for the unexpected.
• Objective Comparison Shopping: Once we understand your needs, we do the legwork. We obtain quotes and policy details from multiple suitable carriers from our extensive network. This isn’t just about price; we compare underwriting guidelines (which company is likely to view your health history most favorably?), policy features (like cash value growth, rider availability), graded benefit periods (if applicable), and the financial strength of the insurers.
• Tailored Recommendations: We present you with the options that best align with your situation, clearly explaining the pros and cons of each. We’ll show you how Global Atlantic’s offerings stack up against competitors for *your specific profile*. Our goal is not just to sell you a policy, but to educate you so you can make an informed decision with confidence.
• Advocacy and Support: From application to policy delivery and beyond, we are your advocates. We help navigate the underwriting process and are here to answer questions throughout the life of your policy. Because we understand service, we believe in building long-term relationships based on trust and reliability.

The truth is, factors like your age, specific health conditions (e.g., diabetes, heart conditions, smoking status), desired coverage amount, and even your family’s medical history can significantly impact which insurer will offer the best rates and terms. Relying solely on information about one company, like Forethought/Global Atlantic, means potentially missing out on a more affordable or suitable policy available elsewhere. Let Insurance By Heroes put our independence and market access to work for you.

Forethought/Global Atlantic vs. Other Carriers: A Quick Look

Understanding how one insurance company, like Global Atlantic (formerly Forethought), might compare to others is key to appreciating the value of comparison shopping through an independent agency. While we can’t provide specific real-time quotes without your personal information, we can discuss the conceptual differences you might encounter.

Here’s a general overview of factors that vary significantly among life insurance carriers offering final expense or similar policies:

• Premium Rates: This is often the most visible difference. For the exact same age, health profile, and death benefit, premiums can vary considerably. Some companies are simply more competitive in certain age bands or for specific health classifications. Global Atlantic might be competitive for some, but another carrier could offer substantial savings for others.
• Underwriting Guidelines: This is perhaps the most critical differentiator, especially for simplified issue policies.
  • Health Questions: The specific questions asked on the application differ. One company might ask about hospitalizations within the last 2 years, another within the last 3 years.
  • Condition Acceptance: How companies view specific health conditions varies widely. One might decline coverage for someone with COPD, while another might offer a graded benefit policy, and a third might offer a standard (level benefit) policy at a higher rate. Insurance By Heroes knows which carriers tend to be more favorable for conditions like diabetes, heart issues, cancer history, etc.
  • Build Charts (Height/Weight): Allowable height and weight ratios differ between companies.
  • Prescription Checks: The medications flagged during prescription database checks can lead to different outcomes (approval, rated policy, decline) depending on the insurer’s internal rules.
• Graded Benefit Structures: For policies that don’t offer full death benefits from day one for natural causes, the structure can differ. Most common is a two-year period where beneficiaries receive premiums paid plus interest (e.g., 10%). Some might have three-year graded periods or different interest calculations. Some rare policies might offer a percentage of the death benefit in year one and another percentage in year two. Accidental death usually pays the full amount immediately across most policies.
• Policy Riders: Available riders (optional add-ons) can vary. Common riders include:
  • Accelerated Death Benefit Rider: Allows access to a portion of the death benefit if diagnosed with a qualifying terminal illness. Terms and percentages vary.
  • Accidental Death Benefit Rider: Pays an additional amount if death occurs due to a covered accident.
  • Child Rider: Provides small amounts of term coverage for eligible children.

  Global Atlantic will offer certain riders, but another company might offer a specific rider that is particularly important to you.

• Issue Ages: The minimum and maximum ages at which a company will issue a policy can differ. Most final expense policies are available to seniors, often up to age 80 or 85, but the exact range varies.
• Customer Service and Claims Experience: While harder to quantify upfront, reputation for customer service and claims handling can differ among insurers. Working with Insurance By Heroes provides an extra layer of support, as we can often assist with service issues.

This complexity is precisely why simply researching “Forethought life insurance” or “Global Atlantic final expense” online isn’t enough. You see only one piece of a much larger puzzle. Insurance By Heroes helps you see the whole picture. We navigate these variations across dozens of carriers to pinpoint the policy that delivers the right coverage, features, and price point based on your individual health and financial circumstances. Don’t settle for a single option when a better one might be waiting.

Take the Next Step: Get Your Personalized Quote

You’ve learned about the history of Forethought Life Insurance, its transition into Global Atlantic, the importance of final expense planning, and the significant variations that exist between insurance carriers. Most importantly, you understand why comparing options is not just beneficial, but essential to finding the policy that truly serves your needs and protects your loved ones.

Now, it’s time to move from information gathering to action. Finding the right life insurance doesn’t have to be complicated or overwhelming. Insurance By Heroes is here to simplify the process for you.

Getting a personalized quote is easy and comes with no obligation. Simply use the quote request form here on our page. Provide some basic information, and our team of dedicated professionals – many with backgrounds serving communities like yours – will get to work.

Here’s what happens next:

1. We Analyze Your Needs: We’ll review the information you provide to understand your specific requirements.
2. We Shop the Market: Leveraging our access to dozens of top-rated insurance carriers, including Global Atlantic and many others, we will search for the most suitable and competitive policies available for your situation.
3. We Present Your Options: We’ll provide you with clear, easy-to-understand quotes, explaining the features, benefits, and costs of each recommendation. We’ll show you how different carriers compare for *you*.
4. We Answer Your Questions: We are here to address any questions you have, ensuring you feel confident and informed before making any decisions.

Remember, Insurance By Heroes was founded by a former first responder and military spouse. Our team understands the values of service, integrity, and protecting what matters most. As an independent agency, our commitment is solely to you. We don’t push one company’s products; we find the right solution from the broad market we access.

Don’t leave your final expense planning to chance or limit your options to just one insurer. Take control and ensure your loved ones are protected without unnecessary financial strain. Fill out the quote form now and let Insurance By Heroes help you secure the peace of mind that comes with having the right life insurance coverage in place.