UPDATE: As of 11/28/2018, Banner Life is now offering 35 and 40 year guaranteed level term life insurance.
Banner Life, owned by Legal & General America, is one of the best term life insurance companies that offer some of the lowest term rates in America.
You can buy up to $1,000,000 with Banner Life without a medical exam if your health is good and you meet the “no exam” criteria. Age and amount limits are below:
Issue Ages 20-40 Face Amounts $100,000 – $1,000,000
Issue Ages 41-45 Face Amounts $100,000 – $750,000
Issue Ages 46-50 Face Amounts $100,000 – $500,000
We place a lot of business with Banner Life and all of their major competitors, including American General/AIG, Cincinnati Life, Protective Life, Prudential, SBLI, American National, United of Omaha, Principal Life, Lincoln National and the list goes on and on…..
Banner Life has some of the best underwriters in the business (shout out to Debbie P. and Becky S. – you gals are awesome!) and Banner Life always needs to be considered on every case.
While Banner does offer permanent life insurance, their term life insurance product line is where they are most competitive.
Click here to email us if you have any questions about or if you need more information about Banner Life.
At same time we email you with the Banner Life quote, we’ll send you quotes for other insurance companies that may make you a better offer or provide better value.
Some areas where Banner Life “shines”…
Impaired Risk Life Insurance
- All diabetes cases, type 1 or 2
- Some cancer cases
- All heart and cardiac related cases
- Anxiety and Depression
- Sleep Apnea
Banner Life also has an unusual table rating structure which can give them an advantage over most of the competition when it comes to underwriting tougher cases.
Banner Life is never going to make the best offer on every diabetes, heart, cancer or other impaired risk case, so we’ve developed a system to ensure our clients get the absolute best rate possible every time.
Banner Life Vs American General Life
The ongoing battle of term life supremacy between Banner Life and American General can be entertaining to watch.
Banner reduces rates and then so does American General. American General reduces their monthly modal factor so that their monthly rates show up a little lower than Banner’s. Banner adds a 25 year term plan to mimic American General.
So which company’s better?
That depends on your health history and what is most important to you.
I’d say about 50% of the time Banner Life makes a better offer and 50% of the time American General makes a better offer.
Sometimes neither company makes best offer and a different company may be best!
American General recently improved their conversion option, so if the actual offer that both companies make is close in cost and converting from term life to permanent insurance may be important to you, then you may want to choose American General.
Next week though, Banner may have a better conversion option in this never ending battle!
If You Want To Ladder Your Insurance
If you want to buy more than one policy at varying amounts and durations, then Banner Life will rarely be beat in this scenario.
The reason Banner is usually best in this scenario is they will only charge their $60 policy fee on one of your policies.
All life insurance companies have a policy fee built into their rates. So most insurance companies will have their policy fee built into each policy you buy.
Banner Life waives their policy fee on your 2nd, 3rd or any additional policies you buy from them on your own life.
Banner Life is the only company that is doing this right now!
Banner Life Insurance Company should at least be considered by everyone seeking term life insurance and Banner can offer life insurance for diabetics at a great rate.
Click Here to email us, call us at 1-800-380-3533 or simply click on secure link above if you’d like an accurate quote from Banner Life or if you have any questions or need any additional information.
At the same time we will review rates available to you from other companies that may make you a better offer/value than Banner and we’ll send you their quotes also.
If you’d just like to check out some of Banner Life’s rates available to you, you can use the quoting tool to the right.