Scholarship Grant to Children on the Death of a Parent

Benefit Description

Each scholarship is renewable for up to a maximum of four years or until the first degree or diploma is obtained, whichever is earlier. The scholarship is applicable towards full-time studies in a postsecondary educational program for an undergraduate degree or diploma from an eligible institution.

If the country of eligibility is the United States, the amount of the scholarship is:

• $1,000 per year if the death of a Parent occurred prior to January 1, 1995
• $1,500 per year if death occurred after January 1, 1995 of a Parent whom Foresters deems to be a non-Single Parent at the date of death.
• $3,000 a year if death occurred after January 1, 1995 of a Parent whom Foresters deems to be a Single Parent at the date of death

• $1,000 per year if the death of a Parent occurred prior to August 1, 1993
• $1,500 per year if death occurred after August 1, 1993 of a Parent whom Foresters deems to be a non-Single Parent at the date of death
• $3,000 a year if death occurred after August 1, 1993 of a Parent whom Foresters deems to be a Single Parent at the date of death
  
  

Eligibility requirements and limitations

• The Parent must be an eligible member on the date of his/her death and that death occurred on or after June 1, 1986.
• When eligibility is based on a Social Fraternal Membership, it must have been inforce for a continuous period of two years immediately prior to the date of the Parent’s death.
• When eligibility is based on holding Foresters life insurance certificate(s), either a combined monthly premium of not less than $20 was paid, or a combined face amount of life insurance protection of not less than $10,000 was inforce, for a continuous period of two years immediately prior to the date of the Parent’s death.
• If the country of eligibility is Canada and eligibility is based on the Parent holding a non-Foresters life insurance product, it must have been inforce for a continuous period of two years immediately prior to the date of death of that Parent.
• At the time of the Parent’s death, the child/junior member must then be registered for this benefit.
• The child must not be eligible for a grant under Foresters Orphan member benefit.
• If the death of a Parent occurs after the child’s 18th birthday, that child must already be attending a full-time postsecondary educational program.
• The full-time post-secondary educational program is to begin no later than 18 months after the child’s high school education (CEGEP in Quebec) is completed.
• The full-time postsecondary educational program must be from an American, Canadian or British educational institution that has recognized degree/diploma-granting powers, excluding university preparatory programs (e.g., CEGEP/pre-university diploma)
• The scholarship funds are sent directly to the postsecondary educational institution, and a portion of the scholarship must be refunded if the student does not complete the school year or does not continue the program full-time
• The scholarship will end and no further payments will be made if, at any time, the student is no longer in good academic standing, as defined by the educational institution, or the child does not attend full-time.
• The post secondary educational program must be full time and be of a minimum two-year duration. The scholarship will not be granted for evening or part-time studies
• Upon completion of the approved postsecondary educational program, the scholarship will end.
• The 4 year Scholarship is only for a first post-secondary degree or diploma program.
• The benefit will be paid in the currency of the country where the certificate was purchased.

Eligibility for Foresters Member Benefits

Definition of Terms

Foresters member benefits are non-contractual, subject to benefit specific eligibility requirements, restrictions and limitations and may be changed or canceled at any time without notice. Definitions are benefit specific and may vary by benefit.

"You" and "Your" refers to the member, who is either the insured or annuitant under a Foresters certificate.

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