The Best Banner Life Insurance Review for Overweight Clients

Is Banner Life Insurance the best life insurance for overweight clients?

This certainly is the question you have in mind that brought you here. Well, good news! You came to the right place. This review will cover the what, why and how’s about Banner Life Insurance and weight issues.

You’re off to a good start already. Given that you are considering one of the biggest financial decisions you’ll ever make. As a matter of fact, getting life insurance is the best investment! Never put it off as just an added expense – it PROTECTS YOU AND YOUR FAMILY!

Banner Life could definitely be the best life insurance for overweight clients. They are a high-rated company with great life insurance options and rates for overweight clients.

Now, it boils down if it is the right fit for you. We value YOU and YOUR STORY above anything else. Besides, the bottom line of all of these is about YOU and YOUR FAMILY’s WELFARE.

We at HiBMI will help you see what’s best about them. We’ll get you the best rates to top that – no outrageous rates whatsoever. All in your favor! Fill out a quote request form now!


It is best to know as much information about Banner Life before you give it a GO! Hence, get an inside story to this leading company here.

What qualities does a good life insurance company have?

Basically, the following determiners below should be present in a great life insurance carrier:

  • Great history and standing in the life insurance community
  • Financially strong and stable
  • Great product, rate and service offering
  • Good high-risk underwriting
  • Superior customer service
  • Efficient application and claim processing
  • The venue to build cash value

Where Does Banner Life Stand Out on Life Insurance for Overweight Clients?

  • Trusted track record and standing in life insurance
  • Strong and stable financial strength
  • Innovative Life Insurance Products and Services
  • Great feature options to policy
  • Easy term to Universal Policy Change
  • Lower level costs for term and universal life policies
  • Guaranteed policies and Universal Life Policy cash value
  • Flexible payment options
  • Higher age coverage
  • Starts at $50,000 Guaranteed Universal Life (GUL) Insurance
  • Free MediGuide Service
  • Good & More Liberal High-Risk Underwriting
  • Good customer service record and feedback
  • Easy Application, Reapplication and Claim Process


Where Does Banner Life Have to Catch up In?

Like any other company, Banner Life has some aspects wherein it needs to step up more.

  • The company has been doing a great job in providing what they promise in the first place. Nevertheless, they are in business. Besides that, they may treat and rate cases differently just like other companies.
  • Banner Life only has term, universal and no medical exam life policies. In contrast, others offer as wide as having a whole and variable life insurance in their plate. This is because Banner Life focuses on term insurance. Wherein they only have four options. Though this may appear limited, they have actually added great features to these policies that are not offered in others. In addition, they are really good at rating these as it is their specialty. Overall, the fewer options do not weigh them down that much except for the fact that they may not have wide offerings for everyone beyond term and universal life policies.
  • Due to the limited scope of their products, they don’t provide wide opportunities for building cash value alongside your life insurance policy as others do.
  • As for no exam life insurance, Banner is quite new, having started only in May of 2016. They have an “Add an inch” program which is very attractive for obese people!

So Is Banner Life the right company for you?

They are by no question a good choice. However, reaching one of our underwriting experts is the best way to know if they are the perfect fit for your needs and budget. We at HiBMI makes sure you get the best company. When we say the best company – we mean one wherein you get the best rates and thus the best deal.  Satisfaction-guaranteed!

So go ahead. Tap the button below or go to the quote request form on this post.


Table of Contents

What are the history and current standing of Banner Life Insurance?

What are the Financial Strength Ratings of Banner Life?

Financial Rating by A.M. Best

Financial Rating by Fitch

Financial Rating by Standard and Poor

Financial Rating by Better Business Bureau

COMDEX Ranking Score

What are Insurance Products, Rates and Services of Banner Life?

Term Life Insurance

Universal Life Insurance

No Medical Exam Life Insurance

Will Banner Life Insurance be more expensive if I’m overweight?

What Best Life Insurance for the Overweight Does Banner Life Offer?

What’s the Edge of Banner Life’s Insurance Products Over Others?

How’s High-Risk Underwriting at Banner Life, is it any good?

How’s Banner Life Customer Service?

How are the Application and Claim Process at Banner Life?

Why don’t Hi BMI Send Every Life Insurance Case to Banner Life?

What can Hi BMI conclude on Banner Life?

What is the History and Current Standing of Banner Life Insurance?

Banner Life Insurance Company has a great history. This is traced back in 1836 when six famous lawyers in London, England formed a life insurance company. This became Legal & General Group Plc, the parent company of Banner Life.

In 1981, GEICO (Government Employees Life Insurance Company) was bought by the group. It was then renamed Banner Life Insurance in 1983. As its name suggests, Banner is in the Group’s flagship position in the United States.

Banner Life was licensed to provide life insurance products in 49 States except for New York. For this reason, William Penn joined Banner in 1989 to serve the State of New York. Since 2011, both Banner Life Insurance Company and William Penn are known as Legal & General America.

They have built a name in the life insurance industry with their good track record. Banner has kept their lead being one of the first to offer Universal Life Insurance.

Ascending the ranks, Legal & General is now a multinational holding company. They expanded operations to Germany, France, the Netherlands, Egypt and India. They offer general insurance, asset management and pensions as well.

It’s now among the top 10 global asset manager and largest top-rated insurer in the world according to well-known rating companies. Banner has over $658 billion of life insurance in force and over $7.3 billion in assets. Last year alone, they earned a net income of $82.5 million!

As of June 30, 2016, Legal & General Group had 842 billion euros (over $1 trillion) in worldwide assets under management.  

They sell their products and services via independent life insurance agents like us at Hi BMI. Get a quote NOW!


What are the Financial Strength Ratings of Banner Life?

Banner life currently holds the highest ratings from these trusted rating agencies reflecting their great performance and product rates:

Financial Ratings by A.M. Best

A+ rating  (as of August 2016) which means it is superior in its finances and performance. It’s the highest rating A.M. Best gives.

Financial Ratings by Fitch

AA- rating (as of July 2016) which means it is very strong in performance and cash reserves.

Financial Ratings by Standard and Poor

AA- rating (as of July 2016) which means it is very strong in terms of funds and keeps their promises or obligations.

Financial Rating by Better Business Bureau

A+ rating means that it is operating in a trustworthy manner and makes a good faith effort to resolve any client complaints. Having this rating means Banner got 97-100 points over 100, definitely on top of the game!

COMDEX Ranking Score

94 means it occupies a high rank. COMDEX is an average of the ratings of the major life insurance rating companies reflected above. The higher the score, the better it is ranked.

What are Insurance Products and Services of Banner Life?

Banner Life is well-known for their great life insurance products and services at the lowest cost in the life insurance community. On top of that, they provide higher coverage and free services for added protection.

Banner Life offers term, universal and no medical exam life insurance. You can easily enhance your coverage by adding the great features offered.

Term Life Insurance (OPTerm Life Insurance)

  • Coverage: Temporary coverage for a specific period of time.
  • Suited for: Covering the breadwinner or cost involved in loans and divorce.
  • Once the term is over, you can either stop payments & coverage or continue. You may choose whether to renew or convert your term policy.

Universal Life Insurance (Life Step UL)

  • Coverage: Permanent life insurance policy with guaranteed cash value.
  • Suited for: Covering for estate or business planning and the like.

No Medical Exam Insurance (APPcelerate)

  • Coverage: Temporary coverage of 10, 15, 20, and 30-year terms available
  • Suited for: Covering for clients age 20-50 without the need for medical and laboratory exams, or doctor’s statements.

Rider (coverage that you can add to your existing policy at additional cost)

  • Accelerated Death Benefit: You are given a portion of up to 75% or $500,000 death benefit while living to cover for your expenses in the event of terminal illness.

***Con: The amount taken is reduced from the total death benefit and interest applies.

  • Children’s Rider: You are able to provide life insurance coverage to your child up to age 25, until your age 65 or until policy ends.

Will Life Insurance at Banner Life be more expensive if I’m overweight?

Banner Life has been known for providing affordable rates for overweight clients. You can even get a great rate! As long as you’re in good health, doesn’t smoke and seeks to be in the best state, this is possible.


What Best Life Insurance for the Overweight Does Banner Life Offer?

It’s No Medical Exam Insurance (APPcelerate) definitely for a number of reasons:

  • Convenience

No need to submit to medical and laboratory exams or doctor’s statements.

Qualification Interview is by PHONE ONLY.

  • Good rates (Preferred Plus) are available.
  • $100,000 – $500,000 Coverage  are offered.

However, getting a term policy at banner is great as well. Even with the weight issues, Banner offers an affordable term life insurance.

What’s the Edge of Banner’s Life Insurance Products Over Others?

  • Banner has added great features that you can add to enhance your policy:

Term to Universal Policy Change: This allows you the freedom to move from term to universal policy anytime within the term period up to age 70. Clients who have started at age 66 and above can do so after 5 years.  Banner Life guarantees no change in your underwriting class when you shift your term to universal policy if you have availed of this feature.

Waived Costs: Banner Life will waive costs in the period of injury, long-term illness or even total disability. Avail this simply by presenting a proof of at least 6 months disability and you’re good to go.

  • Lower and Guaranteed level costs for term and universal life policies

Banner is known for offering the best rates. Since they focus on a smaller scope of product, they became more skilled at rating clients. They see to it that they provide the best life insurance products at the low costs. All their policies are guaranteed. Thus to give their clients the best value! In fact, they are among the top 10 companies with the lowest term rate in the life insurance community.

  • Flexible payment options

At Banner, you are in control of your payments!

You can either pay on a monthly, quarterly, semi-annually or annually basis.

You can opt to pay for a shorter number of years rather than over a lifetime through Short-term Pay for Universal Life Insurance

  • Higher age coverage for term policies

Another major area that set Banner Life above their counterparts is that they offer all term life policies up to age 95. Whereas, other companies offer term up to age 75 at most. Aside from that, seniors greatly benefit from the liberal underwriting of Banner Life towards them.

  • Starts at $50,000 Guaranteed Universal Life (GUL) Insurance

If you won’t need more than $50,000 GUL, Banner Life is the right one for you. Most companies start at $100,000 for GUL policy.

  • Added Free of Charge Services

Banner Life takes client services seriously! Want proof? They are the ONLY company who offers their clients FREE MediGuide.

We know a diagnosis of heart disease, cancer, or any health condition is devastating. In that case, Banner Life runs an extra mile for you. MediGuide working hand in hand with Banner will help you find the 3 top-notch medical centers to care for your case. Then you choose what’s best for you with the recommendation of your doctor and get the second opinion. What a greater way to add EXTRA to your GOOD COVERAGE!


How’s High-Risk Underwriting at Banner Life, is it any good?

YES! Banner Life underwriting guidelines are very liberal. They are a great company to obtain coverage for clients with weight and even major health issues. You read it right, they provide great offers to clients with health conditions. Specifically, they even have the most liberal underwriting requirements in the industry for clients with diabetes. This allows you to qualify for traditional life insurance!

Here are what underwriters consider:

  • Height/Weight Build
  • Family History
  • Smoking
  • Blood Pressure
  • Cholesterol Levels
  • Pre-existing Medical Conditions

How’s Banner Life Customer Service?

In as much as Banner Life values every client, they value lasting relationships. To achieve this, they make sure their customers are satisfied and secured at all times. The welfare of their clients is their prime interest since day one. For this reason, they live up to their promises and standards in all endeavors. This is reflected in the ratings given by A.M. Best, Fitch, Standard and Poor, and Better Business Bureau above.

Banner Life has a great customer service record in BBB. They only have 4 complaints reflected in the Better Business Bureau. All 4 complaints closed in the last 3 years. One of which was closed in the last 12 months. Two out of 4 are about billing and the remaining two on product/service.

How are the Application and Claim Process at Banner Life?

The application process at Banner Life takes a little longer (but not slow) compared to other life insurance companies. But, this is an ASSET rather than a liability! GREAT things come to those who wait! And this is true in this case. In order for Banner Life to offer lower prices, they have a thorough evaluation of risk. In contrast, other companies are faster but offer higher rates.

The Reapplication process in Banner Life is easy. So, no hassle when your term ends!

The Claim process in Banner Life is simple and convenient. All you have to do is call the claim department. You may also fill out an online form at the  Legal & General America website to start the process. When everyone is in grief the last thing would be complications!


Why don’t Hi BMI Send Every Life Insurance Case to Banner Life?

No person or story are exactly alike however similar they may be. Your story matters. For this reason, different life insurance companies may look at a case differently. Thus, they offer different rates.

Leading companies have great offers, but we at Hi BMI want the best deal for you.

What can Hi BMI conclude on Banner Life?

Banner Life is a solid company with strong finances. They can deliver what they promise. That’s why they are among the top 10 global asset managers and the largest top-rated insurers in the world.

Looking into Banner life’s life insurance products, services, underwriting requirements and insurance costs, it is definitely a top-rated company. It certainly is a great choice with your weight issues and other health conditions with them having the most liberal underwriting! Plus, they offer the most affordable quotes!

 They are certainly a great choice for YOU! Stop waiting! Fill out the calculator and instantly get your life insurance quote!