Term Life InsuranceTerm Life Insurance
Banner LifeBanner Life
The high-coverage specialist — generous underwriting for large policies and imperfect health.
Banner Life
The high-coverage specialist — generous underwriting for large policies and imperfect health.
About Banner Life
Banner Life is the U.S. term life specialist of Legal & General America, backed by Legal & General Group — a 185-year-old financial powerhouse headquartered in London with over £1 trillion in assets under management. Rated A+ (Superior) by AM Best, Banner Life consistently ranks among the most price-competitive carriers for large face amounts and holds the industry's highest digital no-exam underwriting limit at $4 million. Banner is particularly well-suited to applicants with minor, managed health conditions — controlled hypertension, high cholesterol, treated depression, or a history of well-controlled asthma — who may qualify for Preferred Plus rates that many other carriers would restrict. The terminal illness rider pays up to 75% of the death benefit, capped at $500,000.
FindInsureWise's Take
Banner Life is the preferred choice for applicants needing $1M or more in coverage, applicants with well-managed minor health conditions, and anyone who values the backing of a 185-year-old global financial institution. The $4M no-exam limit is unmatched in the industry. The primary limitation is that living benefits cover only terminal illness — Banner is not the right choice for families who want critical illness or chronic illness coverage built into their policy.
Strengths
- Industry's highest no-exam limit at $4M for ages 20–60 — potential for same-day approval
- A+ (Superior) rated — backed by Legal & General Group with £1+ trillion in assets
- Favorable underwriting for controlled hypertension, high cholesterol, mild asthma, and treated depression — Preferred Plus may still be achievable
- Terms available to 40 years — longest available from most comparable carriers
- Competitive substandard (table-rated) pricing for applicants who don't reach standard classes
Considerations
- Living benefits limited to terminal illness only — no critical illness or chronic illness riders
- Terminal illness cap of $500,000 (75% of death benefit) — lower than some competitors
- Not ideal if comprehensive living benefit coverage is the primary goal
OPTerm
The high-coverage specialist — generous underwriting for large policies and imperfect health.
Product Details
Key Features
Industry-Leading No-Exam Coverage
Applicants aged 20–60 may qualify for up to $4 million in coverage without a lab exam through Banner's digital accelerated underwriting — the highest no-exam threshold in the industry, with potential for same-day approval.
Lenient on Controlled Conditions
Well-managed high blood pressure, high cholesterol, mild asthma, or a history of treated depression? You may still qualify for Preferred Plus rates. Banner's underwriting guidelines are among the most forgiving for minor, controlled health conditions.
Competitive Substandard Pricing
For applicants who don't qualify for top health classes, Banner's rated pricing is among the most competitive in the market — making it a strong choice even for imperfect health.
Best For
High-income earners needing $1M+ in coverage, and applicants with minor health conditions who want the best possible rate.