Forethought Life Insurance Company specializes in pre-need funeral insurance and final expense coverage, making it a solid choice if you’re planning ahead for burial costs. Founded in 1985 and now part of Global Atlantic Financial Group (owned by KKR), the company maintains an A.M. Best “A” (Excellent) rating and offers products ranging from simple funeral policies to indexed universal life insurance with cash accumulation.
If you’re researching Forethought, you’ve probably found them through a funeral home or you’re comparing final expense options. Here’s what we’ve learned about this company after working with clients who own Forethought policies for over 30 years.
We are Not Forethought Life Insurance Company. If you need to reach them directly:
Phone: (877) 462-8992 or (833) 275-4248
Affordable Senior Life Insurance—Peace of Mind for You & Your Loved Ones
No Medical Exam. Guaranteed Coverage. Easy Approval.
Protect your family from unexpected expenses with a simple, affordable final expense plan. Get the coverage you need to ensure funeral costs don’t burden your loved ones.
🔹 Guaranteed Approval (Ages 50-85)
🔹 Fixed, Affordable Monthly Rates
🔹 Covers Funeral, Medical, & Other Final Expenses
Email: [email protected]
Mailing Address:
Forethought Life Insurance Company
PO Box 151
Batesville, IN 47006
Website: globalatlantic.com
Company Background
Forethought started in 1985 as a subsidiary of Hillenbrand Industries, the company behind Batesville Casket Company. That connection to the funeral industry explains why Forethought became a leader in pre-need insurance. The policies were designed specifically to work with funeral homes.
The company hit its first major milestone in the early 1990s with over $1 billion of insurance in force. By 1995, that number had doubled to $2 billion.
In 2014, Global Atlantic Financial Group acquired Forethought and expanded its product offerings beyond funeral insurance into annuities and indexed universal life. Then in January 2024, KKR completed its full acquisition of Global Atlantic, bringing Forethought under the umbrella of one of the world’s largest investment firms.
Here’s what this means for policyholders: Forethought now has significant financial backing. The parent company manages over $150 billion in assets, giving Forethought the stability to honor its long-term promises.
Financial Strength Ratings
When you buy life insurance, you’re trusting a company to pay a claim that might be decades away. Financial ratings help you assess whether they can keep that promise.
| Rating Agency | Forethought Rating | What It Means |
|---|---|---|
| A.M. Best | A (Excellent) | Strong ability to meet ongoing obligations |
| Fitch | A | Strong creditworthiness |
| Standard & Poor’s | A- | Strong financial security |
| Moody’s | A3 | Upper-medium grade |
These ratings place Forethought among financially stable insurers. The A.M. Best rating was upgraded in 2023 following KKR’s increased ownership stake, reflecting confidence in the company’s financial position.
Who Is Forethought Best For?
Forethought works well for specific situations. Based on what we’ve seen with our clients, here’s who benefits most:
Pre-need funeral planning. If you’re working with a funeral home to pre-arrange services, Forethought’s pre-need policies are specifically designed for this purpose. The policy pays the funeral home directly, so your family doesn’t have to handle anything.
Final expense coverage for seniors. The TrustGuard Gold plan offers whole life coverage from $2,500 to $15,000, which typically covers funeral costs without a complicated underwriting process.
Cash value accumulation. If you want permanent life insurance with growth potential, Forethought’s indexed universal life products through Global Atlantic offer competitive features.
Forethought probably isn’t the best fit if you need large death benefits ($500,000+), term life insurance, or coverage that requires extensive medical underwriting. They focus on the final expense and retirement planning markets.
Forethought Insurance Products
Pre-Need Life Insurance
This is the product that made Forethought’s reputation. Here’s how it works:
You work with a funeral home to plan your services and choose what you want. The funeral home calculates the cost. Then you purchase a Forethought pre-need policy for that amount. When you pass away, Forethought pays the funeral home directly.
The main advantage? Your family doesn’t make decisions during an emotional time, and they don’t receive a bill. Everything is handled.
Forethought also provides planning tools including the Forethought Planning Guide, which helps you document your wishes beyond just funeral arrangements.
TrustGuard Gold Plan
TrustGuard Gold takes final expense insurance a step further by linking your policy to a trust. You can choose either a Funeral Expense Trust or an Estate Planning Trust.
Why does this matter? When your policy is owned by a trust, the death benefit has additional protection from creditors. The trust also includes explicit instructions for how the money should be used, giving you control over final arrangements even after you’re gone.
Coverage amounts typically range from $2,500 to $15,000. Premiums stay level for life, and no medical exam is required for most applicants.
Indexed Universal Life Insurance
Through Global Atlantic, Forethought offers IUL policies for people who want permanent coverage with cash value growth potential. These policies link your cash value to stock market index performance without the risk of losing money when markets drop.
Two main options are available:
Lifetime Builder ELITE focuses on cash accumulation. The policy builds significant cash value over time that you can access for retirement income through policy loans. It includes multiple crediting strategies and death benefit options.
Lifetime Foundation ELITE prioritizes the guaranteed death benefit. Coverage can be guaranteed up to age 90 as long as you pay your premiums. After the guarantee period, cash value keeps the policy in force up to age 121.
Both policies include a floor rate that protects your cash value from market losses. When the index goes up, you earn interest (up to a cap). When it goes down, you don’t lose money.
Annuity Products
Forethought offers several annuity options through Global Atlantic for retirement planning:
Fixed Annuities provide predictable, guaranteed interest rates. They’re the most conservative option, ideal if you want zero market exposure.
Fixed Index Annuities link your earnings to market index performance with downside protection. Returns are typically higher than fixed annuities but with a cap on gains.
Income Annuities convert a lump sum into guaranteed lifetime income. Good for people who want predictable monthly payments in retirement.
Variable Annuities offer the highest growth potential by investing directly in market-based sub-accounts. These carry more risk but can generate higher returns over time.
Pros and Cons of Forethought
What We Like:
Forethought excels in the pre-need and final expense market. Their direct relationship with funeral homes makes the claims process smooth. Financial ratings are strong, and the KKR backing provides additional stability. The TrustGuard Gold plan offers unique trust features not commonly found elsewhere.
What Could Be Better:
Product information can be hard to find since Forethought policies are now listed under Global Atlantic’s website. Customer service wait times have increased according to some online reviews. If you want traditional term life or large face amounts, you’ll need to look elsewhere.
Frequently Asked Questions
Who owns Forethought Life Insurance Company?
Forethought is a subsidiary of Global Atlantic Financial Group, which became 100% owned by KKR (Kohlberg Kravis Roberts) in January 2024. Global Atlantic acquired Forethought in 2014, and the company operates as part of Global Atlantic’s insurance business.
Is Forethought Life Insurance Company financially stable?
Yes. Forethought maintains an A.M. Best rating of “A” (Excellent), along with strong ratings from Fitch (A), Standard & Poor’s (A-), and Moody’s (A3). The backing from KKR, one of the world’s largest investment firms, adds additional financial security.
Does Forethought offer final expense insurance?
Forethought specializes in final expense coverage through two main products: pre-need life insurance (purchased through funeral homes) and TrustGuard Gold (a whole life policy that can be linked to a trust). Both are designed specifically to cover funeral and burial costs.
How do I contact Forethought Life Insurance Company?
You can reach Forethought at (877) 462-8992 or the newer Global Atlantic line at (833) 275-4248. Email inquiries go to [email protected]. For pre-need policy questions, call (800) 331-8853.
Can I buy Forethought insurance directly?
Pre-need insurance is typically purchased through participating funeral homes. Other Forethought and Global Atlantic products are available through licensed insurance agents. We can help you compare Forethought options with other carriers to find the best fit for your situation.
Key Takeaways
- Forethought specializes in pre-need and final expense insurance, with products designed specifically for funeral planning and burial costs.
- Strong financial ratings (A.M. Best “A”) and backing from KKR provide confidence the company can pay claims decades from now.
- TrustGuard Gold offers unique trust protection that shields your final expense benefit from creditors and ensures funds are used according to your wishes.
- Indexed universal life and annuity products are available through Global Atlantic for those wanting cash accumulation or retirement income options.
- Best suited for seniors and pre-planners rather than those needing large term life policies or extensive coverage amounts.
Want help comparing Forethought with other final expense or life insurance options? We work with dozens of carriers and can show you which company offers the best rates for your specific situation. No pressure, just straightforward guidance based on 30+ years in the industry.
