Accordia Life vs. Banner: Best Life Insurance Company in 2021

When comparing insurers like Accordia Life vs. Banner, it is for the best that you analyze not only pricing but company ratings as well. Banner offers the best pricing not only to men of various ages, but to women of various ages as well. Furthermore, Banner is more well-reviewed than Accordia Life by both the Better Business Bureau and A.M. Best.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Quick Facts

  • Banner Life Insurance offers far more competitive pricing than Accordia Life to men of all ages
  • Banner Life Insurance Company offers far more competitive pricing than Accordia Life to women of all ages.
  • Banner is more well-reviewed than Accordia Life by both A.M. Best and the Better Business Bureau.

Because you’re here with us today, you are almost certainly looking for your next life insurer. The process of comparing insurance companies can prove itself to be a difficult one whether it’s for life insurance, auto insurance, etc. For this reason, we will be focusing exclusively on Accordia Life vs. Banner.

Should you wish to learn more about Accordia Life and Annuity Company, be sure to read our Accordia Life Insurance Review.

Before we really dive into our comparison of Accordia Life vs. Banner, be sure to type your ZIP code into our free and helpful tool above to find affordable life insurance quotes in your area.

Accordia Life vs. Banner: Which company offers better rates to males?

When you initiate the process of insurer comparison, you probably want to start with what is most important. For many people, that is pricing. The table that follows will show the rates offered by 10 companies to men in their 30s, 40s, 50s, and 60s for a 20-year Term Life Policy valued at one million dollars.

Accordia Life vs. Foresters Financial: Female 20-Year Term $250,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly Rates for a 20-Year Term $250,000 Policy (Female)Foresters Financial Average Monthly Rates for a 20-Year Term $250,000 Policy (Female)
Age 30$15.58$12.47
Age 40$20.69$16.63
Age 50$41.83$31.94
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As you can see, for men who are in their 30s, Banner is almost nine dollars per month cheaper than Accordia Life. For men in their 40s, Banner is over 14 dollars per month cheaper than Accordia Life.

For men in their 50s, Accordia Life is over 59 dollars more expensive per month than Banner. Finally, for men in their 60s, Accordia Life is a whopping 173 dollars more expensive per month than Banner.

So, in short, Banner certainly wins in terms of pricing for men of various ages. Let’s see if this holds true in terms of rates for women of various ages. First, though, if you’d like to learn more about Banner, be sure to read our Banner Life Insurance Review. You may even be able to get some information on discounts, which can be as simple as typing in your Banner Life Insurance login.

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Accordia Life vs. Banner: Which company offers better rates to females?

We are now going to analyze similar data, though this time in terms of rates offered to women. This is also a 20-year Term Life Policy that is valued at one million dollars.

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As you can see, for women in their 30s, Banner is the cheapest of all the companies and it is about 12 dollars cheaper than Accordia Life per month. For women in their 40s, Banner is almost exactly 10 dollars per month cheaper than Accordia Life.

For women in their 50s, Accordia Life is over 33 dollars per month more expensive than Banner. Finally, for women in their 60s, Banner is a whopping 65 dollars per month cheaper.

So, again, Banner wins. Let’s wrap up with company reviews to see if Banner wins all three categories.

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Accordia Life vs. Banner: Which company is more well-reviewed?

One final thing to analyze while comparing life insurance companies is how they are rated by companies like A.M. Best and the Better Business Bureau (BBB).

The Better Business Bureau’s rating scale extends from the high end of A+ down to the low end of F. Accordia Life received the BBB’s second-highest possible rating, which is an A. What is also of note is the fact that Accordia Life is not accredited by the Better Business Bureau. Let’s see how Banner did.

Banner is also not accredited by the BBB. With that being said, it has the highest rating possible of A+. So, with its Better Business Bureau rating, it looks like Banner might win this one too. Let’s see if that’s the case by analyzing A.M. Best ratings.

A.M. Best’s rating scale is different from the Better Business Bureau. It ranges from the high end of A++ down to the lowest possible rating of D. Accordia Life received a rating of A- from A.M. Best.

How did Banner do with A.M. Best? Well, it turns out it win again with an “Excellent” A+ rating.

In short, Banner wins across the board. But, don’t let your insurer comparison of Accordia Life vs. Banner stop here. Type your ZIP code into our free and helpful tool below to find affordable life insurance quotes in your area.

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