Forethought Life Insurance Company Review

Preneed policies available from local funeral service providers

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Global Atlantic Financial Group

Global Atlantic

Investopedia’s Rating

Our Take

Even if you’ve decided to purchase a preneed agreement, Forethought may not be the best choice. The NAIC has received many complaints about the company relative to its size, which indicates issues with customer satisfaction. What’s more, a different type of policy could be cheaper and provide more customization and flexibility. Before you purchase preneed insurance from your local funeral home, consider other options, such as guaranteed issue life insurance.

  • Pros & Cons
  • Company Overview
  • specifications
Pros & Cons
  • Financially strong

  • Available at funeral homes nationwide

  • Online payments

  • Only offers preneed insurance

  • Doesn’t provide details online

  • Many complaints with the NAIC

Company Overview

Forethought Life Insurance Company began issuing life insurance in 1985. It sells preneed life insurance policies and annuities for Global Atlantic Financial Group. Global Atlantic, founded in 2004 at Goldman Sachs, became privately held in 2013 and acquired Forethought with its parent company in 2014. Global Atlantic also provides indexed universal life insurance, which is issued by Accordia Life and Annuity Company. 

Forethought Life Insurance Company is based in Indianapolis, Indiana and is licensed to issue life insurance in all states, except New York and the District of Columbia.

AM Best Rating
NAIC Score (avg.)
Years In Business
Policy Types
Accepts Credit Cards
Global Atlantic Financial Group

Global Atlantic

Investopedia’s Rating

Forethought is not one of our top-rated life insurance companies. You can review our list of the best life insurance companies for what we think are better options.

Pros Explained

  • Financially strong: Forethought received an A (Excellent) financial strength grade from AM Best and is also the only preneed provider to be named a Ward’s 50 top life and health insurance company for 12 straight years.
  • Available at funeral homes nationwide: The Global Atlantic website notes that you can find Forethought preneed products at a funeral home near you. 
  • Online payments: Global Atlantic offers a convenient online payment platform, and credit card payments are accepted for a fee. 

Cons Explained

  • Only offers preneed insurance: You can’t get a term or whole life policy from Forethought. Its limited options means Forethought won’t be a fit for most people.
  • Doesn’t provide details online: Costs and requirements aren’t available online, so you’ll need to visit your local funeral home for more information. 
  • Many complaints with the NAIC: Forethought had more than four times the expected number of complaints with the NAIC in the last three years.

Complaint Index

Forethought Life Insurance Company received many more complaints with the National Association of Insurance Commissioners (NAIC) than expected over the last three years, raising concerns about the company’s customer service. Each year, the NAIC reports a complaint index for every insurance company that indicates whether the number of complaints the company received was high or low relative to its market share. 

An index of 1.00 represents the number of complaints expected, while an index below 1.00 is ideal. Over three years, Forethought had an average complaint index of 4.44, indicating the company had more than four times the expected number of complaints given its size. 

Most of the top life insurance companies we reviewed didn’t score higher than 1.00 in any given year. Forethought’s complaint index is associated with poor customer satisfaction and should make you think twice about working with the company. 

Third-Party Ratings

Forethought Life Insurance Company is rated excellent for financial strength by AM Best, an independent credit ratings agency that evaluates the financial stability of insurance companies. But many of the top insurers we reviewed have even higher grades. Forethought received an A (Excellent) financial strength rating from AM Best, which is the third-highest available grade. We typically don’t recommend any insurance providers that score below the A bracket. 

Policies Available

Preneed Life Insurance

Preneed life insurance is a type of permanent policy intended to cover your funeral expenses. You can purchase Forethought’s preneed life insurance directly from your local funeral home, which will become your beneficiary. Therefore, your loved ones won’t have access to the money. 

The death benefit is just large enough to cover funeral costs, and preneed policies aren’t typically refundable or transferable to another funeral home. You may have the option of paying premiums in a lump sum or in installments. Details about Forethought’s policies aren’t available on Global Atlantic’s website and may vary by state or funeral provider.

Preneed agreements are tied to a specific funeral home. It’s important to understand that they’re unlike other types of life insurance, which allow you to name your loved ones as beneficiaries and allow them to use the death benefit to cover any financial need. You’re also likely to get more coverage per premium dollar with other types of life insurance. 

Available Riders

Riders are coverage add-ons used to customize an insurance policy. For example, some riders provide living benefits or access to the death benefit during illness while the insured is still alive. 

Forethought doesn’t offer any riders with their policies. If you want to customize your coverage, we recommend opting for final expense insurance or traditional whole life insurance from another company instead. Some providers offer riders with these policies, and you can name your loved ones as beneficiaries.

Customer Service

Global Atlantic maintains extended customer service hours during weekdays. You can call 800-331-8853 between 8 a.m. and 7 p.m. ET, Monday through Friday, or email at any time. Global Atlantic also offers a convenient online payment platform for paying your premiums. 

Our Methodology: How We Review Life Insurance Carriers

We designed a comprehensive ranking methodology based on consumer priorities and life insurance company fundamentals to rank more than 90 insurers across five general categories: financial stability, customer satisfaction, product and feature variety, the overall buying experience, and cost.

In order to do this, we collected over 5,000 data points and scored each company based on 55 metrics. We grouped metrics by category to see how insurers performed in each; we then weighted category scores to determine how companies performed overall.

To learn more, read our full Life Insurance Methodology.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. NAIC. "Forethought Life Ins Co National Complaint Index Report." Accessed June 9, 2021.

  2. NAIC. “Consumer Insurance Search Results - CIS.”

  3. AM Best. “Guide to Best’s Financial Strength Ratings - (FSR).”