American National vs. Banner: Best Life Insurance Company in 2021

When comparing American National vs. Banner, Banner life insurance is cheaper for both men and women. American National has an A rating with A.M. Best, and Banner has an A+ rating. Banner also has an A+ rating with the Better Business Bureau, while American National isn’t rated. American National vs. Banner life insurance companies offer various types of life insurance, as well as annuities and other services.

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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 is cheaper than American National for both men and women
  • Banner also scored an A+ with A.M. Best, while American National scored an A
  • American National isn’t rated by the Better Business Bureau, but Banner received an A+

You have many different options when it comes to life insurance companies. Comparing them head to head will help you make an informed choice. We’ll evaluate American National vs. Banner life insurance companies to help you determine if either is right for you.

Although both companies offer term and permanent life insurance options, you should still compare rates and ratings before you choose to buy American National vs. Banner life insurance.

Also, you don’t have to pick between American National vs. Banner. Many companies offer the cheap life insurance you are looking for.

Before jumping into this American National vs. Banner life insurance review, enter your ZIP code to compare life insurance rates from multiple companies near you for free.

American National vs. Banner: Which company offers more affordable rates to women?

Many factors are used to calculate your life insurance rates, and the most significant are your age, gender, and medical history.

This table shows the average monthly American National vs. Banner life insurance rates for non-smoking women of various ages.

American National and Banner Average Monthly Life Insurance Rates for Women
Age of Female Non-SmokerAmerican National Average Monthly Rates $100,000/20-yearBanner Average Monthly Rates $100,000/20-year
25$14.17$8.11
30$14.17$8.12
35$15.81$8.75
40$19.18$10.06
45$24.80$13.19
50$33.61$18.04
55$47.17$24.71
60$75.77$36.39
65N/A$82.43
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Banner life insurance is cheaper than American National for women of all ages. Keep in mind, if you smoke or have certain medical conditions, your rates will be higher.

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American National vs. Banner: Which company offers more affordable rates to men?

Next, let’s look at average monthly American National and Banner life insurance rates for men who don’t smoke.

American National and Banner Average Monthly Life Insurance Rates for Men
Age of Male Non-SmokerAmerican National Average Monthly Rates $100,000/20-yearBanner Average Monthly Rates $100,000/20-year
25$15.98$8.88
30$16.16$8.91
35$16.68$9.34
40$21.51$10.84
45$30.76$15.82
50$43.63$21.92
55$65.06$33.18
60$108.95$52.39
65$99.29$97.26
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Banner once again has the cheaper rates. But again, rates will be higher if you smoke or have medical issues.

It might be tricky to compare American National vs. Banner life insurance quotes. While you can get a Banner life insurance quote online, you have to speak with an agent to get an American National quote.

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American National vs. Banner: Which company is more well-reviewed?

Rates aren’t the only important thing to consider when choosing a life insurance company. You also need a company that you can depend on. Compare financial and customer service ratings to ensure you are making a wise decision.

A.M. Best evaluates companies on their financial health. Ratings go from A++ all the way down to D.

American National received an A rating, showing an excellent ability to meet financial obligations. Banner received an A+ rating, meaning it has a superior ability to meet financial obligations.

Better Business Bureau (BBB) ratings range from A+ down to F. American National is not rated or accredited by the BBB. The Banner life insurance company has an A+ rating but it is not accredited either.

American National vs. Banner: The Bottom Line

More than simply life insurance is available from both American National and Banner.

While American National offers term, whole, and universal life insurance, it also provides a variety of other products. American National annuity services, vehicle insurance, and health insurance are also available.

You can use your American National login to access your account online, pay bills, and update your policy. You can also call the American National life insurance phone number at (800) 899-6519.

Banner offers term and universal life insurance, as well as annuities and retirement planning.

You can manage your policy with your Banner login, or call Banner at (800) 638-8428.

To learn more about each company, read our American National life insurance review and our Banner life insurance review.

We’ve discussed your options for affordable American National vs. Banner life insurance, but you should still shop around to find the company that suits your needs the best.

We hope you’ve learned enough to know if you want to buy American National vs. Banner life insurance. Enter your ZIP code to compare life insurance quotes from companies in your area today.

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