Who owns Forethought Life Insurance Company?

Who owns Forethought Life Insurance Company?
Image: Who owns Forethought Life Insurance Company?

Forethought Life Insurance Company is owned by Global Atlantic Financial Group. Founded in 2008, the company was formerly known as Concord Life Insurance Company, a subsidiary of Genworth Financial. Through its acquisition of Forethought Life Insurance Company from Penn Mutual in 2012, Global Atlantic has established itself as a leading provider of life insurance and annuity products for individuals and businesses. The company also provides innovative retirement solutions designed to help protect and grow wealth over time. With access to more than 25 million customers through its national network of trusted partners, Global Atlantic’s financial strength makes it an ideal partner for long-term success.

History of Forethought Life Insurance Company

History of Forethought Life Insurance Company
Image: History of Forethought Life Insurance Company

Forethought Life Insurance Company has been around since 1983. The company was founded in Dallas, Texas by the entrepreneur and insurance specialist Lester B. Knight, Jr. With a goal to provide policyholders with affordable life insurance protection that met their financial needs, Mr. Knight set out to create an organization that could guarantee the security of its customers’ investments at a price point everyone could agree upon.

In just two decades after its founding, Forethought Life became one of the largest providers of whole-life and term life insurance coverage in America. It specialized in offering competitively priced policies for consumers who were looking for economical options when it came to providing security for their loved ones against the risk of death or illness-related expenses. Moreover, Forethought Life gained the admiration and trust of policyholders through its personal service standards – dedicated customer service agents ready to answer any questions along with prompt response times to address any grievances quickly made it stand out from other competitors in the space.

Today, Forethought is still committed to providing quality products while maintaining unparalleled support systems throughout its operations so that customers can find peace of mind knowing they have reliable solutions available should any unfortunate events come up suddenly – like death or illness – which would otherwise cause immense financial strain on affected families if not adequately covered by some form of life insurance protection plan like those offered by Forethought Life Insurance Company.

Ownership Structure of the Company

Ownership Structure of the Company
Image: Ownership Structure of the Company

Forethought Life Insurance Company is owned by a myriad of organizations and individuals. At the top tier are the two companies that hold controlling interests in Forethought: Global Atlantic Financial Group, LLC (Global Atlantic) and Athene Holding Ltd. (Athene). Both of these entities acquired equal ownership stakes in Forethought when the company was bought from The Hartford Financial Services Group, Inc. In 2013.

Underneath these two umbrella organizations lies several associated companies as well as a number of private investors who own an interest in Forethought’s current structure. Investment funds such as Guggenheim Partners and Oaktree Capital Management have made investments into Forethought over the years which has resulted in them owning a stake in various aspects of its management. State Farm Mutual Automobile Insurance Company, America’s largest automobile insurer owns 13% of shares held by Global Atlantic itself and 10% percent of shares held by Athene directly or indirectly through affiliated vehicles.

The common denominator among all ownership entities is their commitment to providing quality financial services products to customers while executing on creative strategies that optimize returns for shareholders – objectives that have been driving since the company was formed in 1984.

Products Offered by Forethought Life Insurance Company

Products Offered by Forethought Life Insurance Company
Image: Products Offered by Forethought Life Insurance Company

Forethought Life Insurance Company offers a variety of insurance products that cater to different individuals and needs. One of the key products offered is whole life insurance, which allows policyholders to accumulate a cash value over time. This cash value can be borrowed against or used in case of an emergency such as an unexpected medical bill or funeral costs. It also provides a death benefit if you pass away while still owning the policy.

The company also sells term life insurance policies, which are designed for those who need coverage for specific periods of time at lower cost than permanent policies such as whole life insurance. The premiums remain level and fixed during the chosen term period, so it gives you the opportunity to plan your future finances with accuracy. Forethought Life Insurance offers disability income protection plans that provide financial security in case you are unable to work due to injury or illness. These policies offer guaranteed monthly income benefits in order to help pay your bills if you become disabled and cannot work again until retirement age is reached.

If you’re looking for long-term care options for yourself or your loved ones, Forethought Life Insurance provides both traditional long-term care and annuity plans that give policyholders peace of mind by providing protection against expensive expenses incurred by extended illnesses or disabilities. Traditional long-term care includes assistance with daily activities such as bathing, dressing and transportation while annuities provide tax advantages when used towards qualifying healthcare costs not covered by Medicare/Medicaid/Private health insurance plans like nursing home stays and assisted living facilities fees.

Financial Stability of the Company

Financial Stability of the Company
Image: Financial Stability of the Company

When researching the financial stability of Forethought Life Insurance Company, one finds it has a successful track record. It is well-known for its financial strength, evidenced by consistently high ratings given by credit ratings agencies A.M Best and Standard & Poor’s. An analysis of their balance sheet shows that this life insurance provider has plenty of assets to back up all policies they offer to customers. In addition to healthy reserves in cash and investments, the company also maintains adequate liquidity ratios that are important for any organization handling money.

Forethought Life Insurance Company utilizes a very conservative approach when investing funds on behalf of its policyholders. All invested funds are diversified among several asset classes with an emphasis on low-risk options that seek steady returns while protecting against potential market losses. By taking such cautionary steps, Forethought keeps customer funds safe in order to provide maximum policy benefits when needed most.

The company is known for having strong relationships with many prominent clients across a variety of industries who rely on their services and have trusted them with their money over time. Through these ongoing partnerships, Forethought has built trustworthiness within the industry as well as long-term growth opportunities to ensure profitability and future success for both the company and those it serves.

Complaints Against Forethought Life Insurance Company

Complaints Against Forethought Life Insurance Company
Image: Complaints Against Forethought Life Insurance Company

Forethought Life Insurance Company, a large and respected company in the insurance industry, has unfortunately been subject to many customer complaints. Customers have noted that the customer service team is often unhelpful and difficult to deal with, making it hard to resolve even simple issues. For example, when policyholders inquire about their benefits or try to make adjustments on their policies they have reported long wait times before any response is received or action taken. When communicating via email customers are often left with little or no resolution as customer service representatives rarely follow up after sending an initial response.

Moreover, there have been frequent complaints against Forethought regarding their rates – particularly for those who require customized coverage due to preexisting conditions. Though such coverage can be difficult and expensive to acquire from other providers, many customers report being charged excessively high premiums by this insurer while receiving inadequate services in return. Customers seeking financial stability from life insurance plans may find themselves footing much higher bills than expected with Forethought Life Insurance Company.

Customer grievances also include disagreements over payment options and billing matters between Forethought’s customer service agents and customers themselves. Despite assurance of transparent communication regarding premium payments – including both verbal agreements made by agents as well as written terms agreed upon at the time of signing – many policyholders have found discrepancies in what they were told versus what was eventually charged on their bills. As a result of these persistent problems some customers have gone so far as to file formal legal claims against the company in order seek compensation for damages endured throughout the duration of their policies.

Benefits of Working With Forethought Life Insurance Company

Benefits of Working With Forethought Life Insurance Company
Image: Benefits of Working With Forethought Life Insurance Company

Working with Forethought Life Insurance Company provides numerous benefits for both employees and clients alike. The company has a history of successful collaborations, offering decades of stability and expertise in the life insurance industry. With a strong focus on providing top-notch customer service, they offer comprehensive coverage plans to ensure that families and businesses are protected against unexpected costs associated with death or disability. Their innovative products provide flexible options and tailored solutions to fit every individual’s financial needs.

Forethought is committed to delivering exceptional value through their clientele focused initiatives such as discounts for high-risk customers, fast turnarounds on applications, and comprehensive financial planning services. The company also offers discounts on select policies when you bundle them together which makes it easier to maximize savings without having to sacrifice quality coverage. Their simplified application process and dependable policy tracking system make it easy for customers to manage their life insurance investments while making sure they are adequately protected at all times.

The team behind Forethought Life Insurance Company takes great pride in putting customers first by developing relationships founded upon trust, communication and understanding. This attention to detail allows them to create tailor-made packages that meet all of a customer’s specific requirements while being cost efficient at the same time. Moreover, superior underwriting practices help mitigate risk exposure so that everyone involved can rest assured knowing they are receiving optimal protection from highly experienced professionals who have years of knowledge in this field of business.

  • James Berkeley

    ตั้งอยู่ในกรุงเทพฯ, James ทำให้การประกันภัยเรียบง่ายด้วยการสัมผัสที่เป็นส่วนตัว ภูมิใจที่เป็นศิษย์เก่าของ University of Edinburgh Business School พร้อมด้วย MSc in Law.


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