Banner Life Insurance Company

banner life insurance company

Are you looking for information on the Banner Life Insurance Company?  Have you recently received a Banner Life insurance quote? Are you in the midst of researching life insurance companies?  We’ll provide you some key information about the Banner Life insurance company that may help you in your decision making process.

Banner Life Insurance Company History

Banner Life began its journey in 1949 as GELICO (Government Employees Life Insurance Company). The GELICO company was formed in 1949. They have been growing steadily for over the past 65 years.  At the end of 2010, the Banner Life Insurance Company had in excess of $415 billion in in-force life insurance.

An interesting fact about Banner: Banner Life was apart of GELICO which started with GEICO. You read that correctly, the gecko car insurance company!  Banner Life is a subsidiary of the Legal & General Group.

Banner Life Insurance Ratings

In 1976, when Banner Life was still GELICO, it received an A+ superior rating.  They have held on to that A+ rating by A.M. Best ever since.

Banner Term Life Age Limits

The minimum issue age is 20 and the maximum issue age is 70.

Term Life Conversions

Banner Life offers renewable and convertible term life insurance policies that provide a level death benefit to age 95.

The policies are convertible for the duration of the 20-year period for Life Value Term 20 and 30-year period for Life Value Term 30.

-or-

Up to your attained age of 70 (whichever comes up first).

If your policy is issued at age 66 or over, it is convertible for five years.

Banner Term Life Risk Classes

Preferred Plus Non-Tobacco
Preferred Non-Tobacco
Standard Plus Non-Tobacco
Standard Non-Tobacco
Preferred Tobacco
Standard Tobacco

States that offer Banner Life Insurance

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri,Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington D.C., West Virginia, Wisconsin, Wyoming.

Banner Term Life Riders

Banner offers a waiver of premium rider.  This has an additional cost that is added to the initial quoted premium.

A waiver of premium rider provides a specific benefit.  You must meet specific disability requirements in order for you stop paying your premiums.

Conclusion

Banner Life is an A+ rated company with a strong financial background.  They are very competitively priced with their term life products.

Please contact us if you have any questions about Banner Life, need a quote, or want to discuss your life insurance needs at 888-411-1329.


 

 

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