|Name:||Banner Life Insurance Company (L & G)|
|Description:||The history of Banner Life Insurance Company is 60 years strong. Chartered in 1949 as Government Employees Life Insurance Company GELICO, we were acquired by Legal General Group Plc as a wholly owned subsidiary in 1981. In 1983, our name was changed to Banner Life, signifying our flagship position with Legal General America in the United States. Banner's life insurance products are sold through independent life brokerage agencies in 48 states and the District of Columbia. At Banner Life, we take our financial promises seriously. We also promise to treat our customers fairly and to apply ethical standards to every business transaction. We believe in offering low-cost, innovative products and responsive service. Our goal is to build lasting, mutually beneficial partnerships.|
|Address:||1701 Research Boulevard
|Offered by QuickQuote in:||AK , AL , AR , AZ , CA , CO , CT , DC , DE , FL , GA , HI , IA , ID , IL , IN , KS , KY , LA , MA , MD , ME , MI , MN , MO , MS , NC , ND , NE , NH , NJ , NM , NV , OH , OK , OR , PA , RI , SC , SD , TN , TX , UT , VA , VT , WA , WI , WV , WY|
|AM Best Rating:||A+ as of 2012|
Included Term Life Product Features
|Accelerated Death Benefit:||Included at no extra cost. The Accelerated Death Benefit (ADB) payment is payable in the event of a qualifying terminal illness. The ADB is based on a portion of the policy's death benefit, subject to a maximum benefit amount. The ADB is treated as a lien, which accrues interest. Upon the death of the Insured, the death benefits payable are reduced by the total ADB lien.
Available in all states except CT.
|Conversion Option:||Included at no extra cost. The policy is convertible to a qualified permanent policy for the duration of the guaranteed level premium period or up to the Insured's attained age 70, whichever comes first. Policies issued at age 66 or over are convertible during the first five policy years.|
|MediGuide Medical Second Opinion:||Included at no extra cost. The MediGuide Medical Second Opinion Program provides services should the Insured be diagnosed with a qualifying life threatening condition or disease. MediGuide America will collect and assemble all medical records and obtain a medical second opinion and recommend three facilities, at no cost to the Insured.
Available in all states except KS, NY, WA.
Optional Term Life Product Features
|Waiver of Premium Rider:||Available with extra premium. Banner Life Insurance Company will waive all premiums that are due during total disability if given due proof of total disability and such total disability has then existed continuously for at least six months.
Waiver of Premium coverage ceases at the Insured's attained age 65. Available in all states.
|Additional Term Insurance Rider:||Available with extra premium. Additional Term Insurance Riders (AIR) can provide additional temporary life insurance coverage for 10, 15 or 20 years, after which coverage ceases.
Available in all states.
|Legal Information||OPTerm Series Policy Form RT-97.
Maximum issue ages vary. In WA: OPTerm 10 = 70, OPTerm 15 = 65, OPTerm 20 = 60, OPTerm 30 = 50 (49 for tobacco classes). In OR: OPTerm 15 = 71, OPTerm 20 = 68 (65 for tobacco classes), OPTerm 30 = 50 (49 for tobacco classes).
Banner Life Insurance Company (L & G) Plans
|10-year term life insurance with rates guaranteed for 10 years.|
|15-year term life insurance with rates guaranteed for 15 years.|
|20-year term life insurance with rates guaranteed for 20 years.|
|30-year term life insurance with rates guaranteed for 30 years.|