Banner Life insurance, reviewed.
Banner Life, part of Legal & General America, is a financially strong carrier best known for one thing: highly competitive term life. The bottom line — for healthy shoppers who want a long, level term at a sharp price, Banner’s OPTerm is one of the first names worth pricing.
✓ Independent & consumer-first✓ 26 years in business✓ Every major carrier reviewed✓ Licensed in all 50 states
What it does well
Built to win on term.
Banner is the carrier other term plans get compared to on price — and these are the reasons why.
Part of Legal & General America
Banner Life Insurance Company is one of the carriers under Legal & General America — a long-established group with the kind of backing that matters on a 30-year promise.
Consistently competitive term pricing
Banner is best known for term life that lands near the front of the market — for many healthy applicants, its premium is among the lowest you’ll find.
A wide range of term lengths
Its OPTerm product offers level term in a broad set of durations, commonly from 10 up to 40 years, so the coverage can match the length of your need.
Strong underwriting for healthy applicants
Banner’s underwriting is well-regarded, and applicants in good health often see favorable rate classes — a meaningful edge on price.
Convertible term
Banner term policies are typically convertible to permanent coverage later, which lets you keep your insurability without starting over.
Financially strong
A financially strong, well-established carrier — the foundation you want behind a policy meant to pay out years from now.
Want Banner’s OPTerm number for your age? A licensed professional will run it and compare it to the market. No obligation.
Call (855) 816-8861What they offer
A term-first shelf, with room to grow.
Banner keeps its lineup focused, and term is the star — here’s what you can put to work (per Legal & General America):
OPTerm
Level term, many lengths
Banner’s signature term product, with level coverage commonly available from 10 up to 40 years — and priced to compete across that range.
Universal life
Permanent coverage with cash value
For needs that don’t end, Banner also offers universal life — lasting protection that can build cash value over time.
Convertibility
Switch term to permanent later
Banner term is typically convertible to permanent coverage later without a new exam, so you can keep your insurability and your options.
Is it a good fit?
A strong first call for healthy term shoppers.
Banner is rarely a wrong answer when you want term. You get a financially strong carrier under Legal & General America, a wide range of term lengths, and pricing that frequently lands near the front of the market — with the option to convert to permanent down the road.
It shines brightest for applicants in good health, where strong underwriting and a low rate meet. Even so, the only way to be sure Banner is your best value is to set it beside two or three others for your exact profile. That comparison is free.
When a healthy client wants a long term at a low price, Banner is usually one of the first quotes I run. I still set it beside the field — because “usually first” and “best for you” aren’t always the same.
Already have a policy?
Confirm you’re getting their best rate.
If you already hold a Banner Life policy, a licensed professional will read it with you and check whether the same premium could buy more elsewhere. With pricing this competitive, often you’re in good shape — and we’ll say so plainly.
Free · no obligation · Mon-Sat · 10am-9pm
- Which OPTerm length you’re on and when it ends
- Whether your conversion option is still open
- Whether another strong carrier beats it for your profile
- That your beneficiary is current and correct
Straight answers
Banner Life questions, answered.
By Braxton Mondell, licensed in all 50 states · Updated June 2026
01Is Banner Life legit and a good company?
Yes — Banner Life Insurance Company is part of Legal & General America, a well-established and financially strong group. It’s especially well-known for its competitive term life, and it’s a name licensed professionals reach for often when a healthy client wants strong coverage at a low price.
02What is OPTerm?
OPTerm is Banner’s level term life product. It locks your premium for a set number of years — commonly available from 10 up to 40 years — and is priced to compete, which is a big part of why Banner shows up so often in term comparisons.
03Are Banner Life’s term rates competitive?
Often, yes — for many profiles Banner’s OPTerm pricing is among the lowest in the market, particularly for applicants in good health. That said, the carrier that wins depends on your exact age, health, and term length, so it’s always worth comparing Banner beside a few others for your profile.
04Can I convert Banner term to permanent later?
Yes — Banner term policies are typically convertible to permanent coverage later, usually without a new medical exam. That means you can lock in a low term rate now and keep the option to move to lasting coverage as your needs change.
05How do I reach Banner Life customer service?
Existing policyholders can reach Banner Life through the number on their policy or at lgamerica.com. If you’d like someone to read your policy with you first, a licensed professional on our team can do that and help you contact the carrier.
06Is Banner Life a good fit for me?
It’s an excellent option for healthy shoppers who want a long, level term at a competitive price — and the convertibility keeps your future options open. Whether it’s the lowest cost for you depends on your profile versus other strong carriers, which a free review confirms in minutes.
This is an independent review. Policy Review Center is not affiliated with or endorsed by Banner Life or Legal & General America; product names are used for identification only. Plan details come from the carrier and can change — confirm current terms with the carrier. Educational only, not financial advice; any coverage changes are completed through licensed insurance professionals.
See every option. Then choose.
Call and a licensed professional will compare Banner Life against the broader market for your age and health — and tell you straight which gives you the most.