BannerLife is an excellent carrier for term insurance. They have a streamlined underwriting program that helps move term life insurance cases through their system very quickly. We’ve placed cases in weeks that would have taken months elsewhere. Banner’s underwriters will also move a case up one health class if certain criteria are met. If you are looking for low cost 10 year term life insurance or 20 year term life insurance and your are in the 35-to 65 year old age band, Banner life is likely to be an excellent fit for you.

Banner Life
Address1 1701 Research Blvd
Rockville, MD 20850
800.638.8428
301.279.4800
WebPage http://www.LGAmerica.com/

Financial Ratings:

A.M. Best Financial Strength A+
Standard & Poor’s Financial Strength A+

Products and Underwriting

Banner Life – Life Value Term 20 & 30

Type Renewable and convertible term life insurance policies that provide a level death benefit to age 95. Premiums increase annually and are guaranteed for the initial 20 or 30 years. Thereafter, premiums increase annually and are guaranteed to never be greater than the maximums stated in the policy.

Conversion Options 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 attained age 70, whichever comes first. Policies issued to insureds age 66 or over are convertible for 5 years.

Issue Ages Age nearest birthday
Life Value Term 20: 20-70
Life Value Term 30: 20-60

Face Amounts
Min/Max Band 1: $250,000-$999,999
Band 2: $1,000,000 & over
Modal Factors Semi-annual = .51 Quarterly = .26 Monthly = .0875
Policy Fee $65

Tobacco Definition Preferred Plus Non-Tobacco: no use of tobacco or nicotine-based products in the past 36 months
Preferred Non-Tobacco: no use of tobacco or nicotine-based products in the last 24 months
Standard Plus Non-Tobacco: no use of tobacco or nicotine-based products in the last 12 months
Standard Non-Tobacco: no use of tobacco or nicotine-based products in the last 12 months

Special Underwriting
Features Preferred Plus Non-Tobacco:
Impairments: No personal history of disease or impairment that would affect mortality
Blood Pressure: Currently well controlled with or without treatment, with no readings in the past two years greater than 136/86

Family History: No cardiovascular disease or cancer in either parent or siblings before age 60

Driving History: No more than 2 moving violations in last 3 years. No DWI, DUI, reckless driving, license revocation or suspension in last 5 years.

Cancer History: Only available on certain types of skin cancer

Cholesterol: May not exceed 220 with or without treatment; CHOL/HDL Ratio may not exceed 5.0 with or without treatment

Substance/Alcohol abuse: No abuse

Aviation: Available only with exclusion rider

Avocation: Available only if no flat extra premium would be required

Residency/ Citizenship: Must be U.S. resident for past 3 years and either a U.S. citizen or have permanent Visa or Green Card

Preferred Non-Tobacco/Tobacco :
Impairments: No personal history of disease or impairment that would affect mortality

Blood Pressure: Currently well controlled with or without treatment, with no readings in the past two years greater than 146/90

Family History: No cardiovascular or cancer death in either parent before age 60

Driving History: No more than 2 moving violations in last 3 years. No DWI, DUI, reckless driving, license revocation or suspension in last 5 years.

Cancer History: Only available on certain types of skin cancer

Cholesterol: May not exceed 250 with or without treatment; CHOL/HDL Ratio may not exceed 6.0 with or without treatment

Substance/Alcohol abuse: No abuse in the past 10 years

Aviation: Available only with exclusion rider

Avocation: Available, however may have flat extra

Residency/ Citizenship: Must be U.S. resident for past 3 years and either U.S. citizen or have permanent Visa or Green Card

Standard Plus Non-Tobacco :
Impairments: Can have personal history of certain impairments or diseases

Blood Pressure: Currently well controlled with or without treatment, with no readings in the past two years greater than 152/92

Family History: No cardiovascular or cancer death of more than one parent before age 60

Driving History: No more than 3 moving violations in last 3 years. No DWI, DUI, reckless driving, license revocation or suspension in last 3 years.

Cancer History: Available depending on type and date of onset of cancer

Cholesterol: May not exceed 280 with or without treatment; CHOL/HDL Ratio may not exceed 7.0 with or without treatment

Substance/Alcohol abuse: No abuse in the past 7 years

Aviation: Available, however may have flat extra or exclusion rider

Avocation: Available, however may have flat extra

Residency/ Citizenship: Must be U.S. resident for past 2 years and either U.S. citizen or have permanent Visa or Green Card

Standard Non-tobacco/Tobacco:
Impairments:Can have personal history of certain diseases or impairments

Blood Pressure: Currently well controlled with or without treatment, with no readings in the past two years greater than 156/94

Family History: No cardiovascular death of more than one parent before age 60

Driving History: No more than 4 moving violations in last 3 years. No DWI, DUI, reckless driving, license revocation or suspension in last 2 years.

Cancer History: Available depending on type and date of onset of cancer

Cholesterol: May not exceed 300 with or without treatment; CHOL/HDL Ratio may not exceed 8.0 with or without treatment

Substance/Alcohol abuse: No abuse in the past 7 years

Aviation: Available, however may have flat extra or exclusion rider

Avocation: Available, however may have flat extra

Residency/ Citizenship: Must be U.S. resident for past 2 years and either U.S. citizen or have permanent Visa or Green Card