How Much Does Life Insurance by Banner Life Cost?
Banner Life offers low cost term life insurance. Their term life insurance prices are among the most competitive —generally ranked in the Top 5— when compared to other leading carriers in the market.
On the other hand, Banner’s universal life has ‘average to expensive’ prices, when compared to the competition.
The sample quotes and policy details in this review come from Banner Life’s website. Your exact results may vary— depending on your age, your health, and other underwriting factors.
Check out our full review of Banner Life:
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Banner Life Insurance Pricing and Fees
Competitive pricing is why Banner has one of the best term life insurance products in the market.
There are no application fees and it is free to apply for coverage.
Banner’s term life insurance premiums are among the most competitive —generally ranked in the Top 5!— when compared to other leading carriers in the market.
QUICK VIEW
Product Name:
OPTerm
Policy Face Amount:
$100,000 – $10,000,000
Level Period:
10, 15, 20, 25, 30, 35, & 40 Year
Banner “OPTerm” Issue Ages – Non-Smoker VS Smoker
| 10YR Term | 15YR Term | 20YR Term | 25YR term | 30YR Term | 35YR Term | 40YR Term | |
|---|---|---|---|---|---|---|---|
| Non-Smoker | 20-75 | 20-75 | 20-70 | 20-60 | 20-55 | 20-50 | 20-45 |
| Smoker | N/A | N/A | 20-65 | 20-55 | 20-50 | 20-45 | 20-40 |
BANNER TERM LIFE INSURANCE UNDERWRITING CLASSES
- Preferred Plus
- Preferred
- Standard Plus
- Standard
- Substandard – Table 2 – 12
BANNER TERM LIFE INSURANCE ADDITIONAL RIDERS
- Accelerated Death Benefit Rider
- Wavier of Premium Rider
- Children’s Insurance Rider
BANNER TERM LIFE CONVERSION
Conversion Feature: You can convert Banner term life insurance for the duration of the guaranteed level premium period, or up to age 70; which ever comes first. Policies issued at age 66 (or over) are convertible during the first 5 policy years.
Pros and Cons of Banner Term Life Insurance
Pros
- Excellent prices.
- Offers 35 & 40 year level term products.
Cons
- No policies less than $100,000 are available.
- May take up to 6 weeks to get approved.
BANNER TERM LIFE INSURANCE SAMPLE MONTHLY QUOTES
Sample quotes shown assume the best available underwriting class. Your actual prices may be different. You can get a Free Personalized Quote at your convenience.
$250,000 Banner Term Life Insurance – Sample Monthly Quotes – Male
| $250,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| 10 Year | $12.96 | $22.95 | $41.31 |
| 15 Year | $13.92 | $22.95 | $54.61 |
| 20 Year | $13.92 | $26.53 | $64.81 |
| 25 Year | $19.32 | $38.77 | $104.64 |
| 30 Year | $21.09 | $45.11 | $150.39 |
| 35 Year | $25.83 | $66.45 | N/A |
| 40 Year | $37.30 | $95.94 | N/A |
$250,000 Banner Term Life Insurance – Sample Monthly Quotes – Female
| $250,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| 10 Year | $12.20 | $17.42 | $34.85 |
| 15 Year | $12.20 | $17.42 | $38.84 |
| 20 Year | $12.20 | $21.43 | $47.97 |
| 25 Year | $16.20 | $30.10 | $73.75 |
| 30 Year | $18.28 | $33.61 | $93.98 |
| 35 Year | $21.74 | $46.59 | N/A |
| 40 Year | $28.60 | $76.80 | N/A |
$500,000 Banner Term Life Insurance – Sample Monthly Quotes – Male
| $500,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| 10 Year | $20.40 | $32.94 | $72.84 |
| 15 Year | $22.74 | $36.20 | $88.99 |
| 20 Year | $22.74 | $46.65 | $119.16 |
| 25 Year | $29.36 | $66.35 | $187.93 |
| 30 Year | $35.45 | $79.47 | $295.67 |
| 35 Year | $43.78 | $123.88 | N/A |
| 40 Year | $69.50 | $186.78 | N/A |
$500,000 Banner Term Life Insurance – Sample Monthly Quotes – Female
| $500,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| 10 Year | $16.57 | $28.26 | $59.50 |
| 15 Year | $16.57 | $28.39 | $68.08 |
| 20 Year | $17.87 | $37.62 | $89.24 |
| 25 Year | $25.07 | $50.77 | $135.05 |
| 30 Year | $29.90 | $61.53 | $176.71 |
| 35 Year | $36.71 | $88.08 | N/A |
| 40 Year | $52.11 | $145.08 | N/A |
WHAT IS THE COST OF BANNER GUARANTEED ISSUE WHOLE LIFE INSURANCE?
Banner does not offer guaranteed issue whole life insurance.
WHAT IS THE PRICE FOR BANNER UNIVERSAL LIFE INSURANCE?
QUICK VIEW
Product Name: Life Step UL
Minimum Policy Face Amount: $50,000
Issue Ages: 20 to 85
Level Period: Lifetime coverage
BANNER UNIVERSAL LIFE ADDITIONAL RIDERS
- Accelerated Death Benefit Rider
- Wavier of Premium Rider
- Children’s Insurance Rider
Pros and Cons of Banner Universal Life Insurance
Pros
Flexible lifetime coverage
Policies as low as $50,000
Cons
Expensive compared to other leading universal life carriers.
BANNER UNIVERSAL LIFE SAMPLE MONTHLY QUOTES
Sample quotes assume assume the best available underwriting class. Your actual prices may be different. You can get a Free Personalized Quote at your convenience.
$250,000 Banner Universal Life Insurance – Sample Monthly Quotes – Male
| $250,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| To Age 100 | $177.00 | $268.17 | $446.10 |
| To Age 121 | $195.18 | $294.52 | $485.67 |
$250,000 Banner Universal Life Insurance – Sample Monthly Quotes – Female
| $250,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| To Age 100 | $148.74 | $230.15 | $345.17 |
| To Age 121 | $174.05 | $266.61 | $399.31 |
$500,000 Banner Universal Life Insurance – Sample Monthly Quotes – Male
| $500,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| To Age 100 | $335.21 | $517.71 | $873.81 |
| To Age 121 | $371.62 | $570.46 | $953.05 |
$500,000 Banner Universal Life Insurance – Sample Monthly Quotes – Female
| $500,000 | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| To Age 100 | $278.63 | $441.59 | $671.84 |
| To Age 121 | $329.33 | $514.58 | $780.26 |
The Bottom Line
Banner Life offers low cost term life insurance. Their term life insurance prices are among the most competitive —generally ranked in the Top 5— when compared to other leading carriers in the market. On the other hand, Banner’s universal life has ‘average to expensive‘ prices, when compared to the competition.
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