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Banner Life

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Banner Term Life

A competitive life carrier with high ease factor
This information is current as of 7-09 and it's best to request current information from us

Banner Life has really come strong over the past 10 years in the Term Life Insurance market.    Banner currently holds an "A+" (Superior) overall financial Strength rating from A.M. Best and an "AA-" (Very Strong) financial strength rating from Standard and Poor's.  Banner's most attractive product is the OpTerm family of term life plans.

Premium Bands

Each carrier has "premium bands" as we discussed in our Term life premium price bands which determine lower price per dollar of coverage.  Banner's OpTerm is as such:

Band 1:  $50K-$99,999
Band 2:  $100K-$249,999
Band 3:  $250K-$999,999
Band 4:  $1M-$1,999,999
Band 5:  $2M and over

Annual Policy Fee:  $60

  Product Names
OpTerm 10
OpTerm 15
OpTerm 20
OpTerm 30

Quote Banner OpTerm
Apply for Banner Life

Our Take on Banner.  Banner is very popular these days for term life coverage due primarily to their pricing.  They have aggressively priced their term life rates to compete on the market.  It's not unlikely to find them priced in the bottom three for a given person's situation.  This combined with an above average life company rating has contributed to their term life success.  The application is a little more lengthy but out of the question.  Of course, we would be happy to help you with the application/enrollment process. 

OpTerm is their signature life option for the term market.  They have another branding but the benefits are identical so you can concentrate on Opterm.  You will find this product listed in our online term life insurance quote tool.  Keep in mind that the quoting engine will automatically list the plans that are best priced for your given demographic information such as age, gender, location, and dollar amount/term length.  If the Banner Opterm is priced well for these variables, it will show in the listing of carriers.

We try to make applying for Banner Opterm life as simple as possible as most term life shoppers dread the enrollment process.  We can start the entire application over the phone with a quick 10 minute interview.  That's all that's needed to get you in the system and in process.  This initiates the paramedical exam scheduling and we're on our way.  Information needed to start the application process can be found at our Term Life Application Center.  

Banner offers a range of term lengths that are pretty traditional on the market.  The Waiver of Premium rider is typically an option with this plan.  The annual policy fee is $60 as of 11/1/2009.  At the time of application, we can verify this information for you.  The two year contestability and suicide clause both apply to Banner Opterm policies but this is standard in the industry.




General Information:

Banner Life

Customer Service 800-638-8428

1701 Research Blvd
Rockville, Maryland 20850
Founded in 1871

A subsidiary of Legal & General Group Plc














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