BANNER

Banner Life Insurance Company

1701 Research Boulevard

Rockville, Maryland 20850

COMPANY INFORMATION 

Banner Life began in 1949 as Government Life Insurance Company then in 1981 were acquired by Legal & General Group as a wholly owned subsidiary.  The name was changed to Banner Life in 1983 to show the flagship position with Legal & General.  Banner Life’s subsidiary, William Penn, joined in 1989 and since then management for both companies has been consolidated at the senior level.  Currently Banner Life’s individual life insurance products are sold in 48 states and the District of Columbia.  On a GAAP consolidated basis at the end of 1999, Banner Life recorded over $68 billion of life insurance in force and assets of over $2.3 billion, a 31% increase since 1992.

RATING

A.M. Best – A+ (Superior)

Moody’s – A2

WHAT IS LIFE INSURANCE?

Life insurance is an agreement by an insurance company to pay a specified sum when someone dies. The agreement is a contract between the insured person and the insurance company that provides the insurance. If the insured dies while the life insurance policy is in force, then the life insurance company pays the death benefit according to the beneficiary designations that the insured has provided.

When a life insurance plan is made, it is important to plan for more than simply replacing lost income. A good life insurance plan also covers funeral expenses, payment of outstanding dept, probate costs, childcare expenses, elderly care, and taxes. When children are involved it is also important to plan for their future college expenses as well as your spouse's retirement.

IS LIFE INSURANCE NECESSARY?

Life insurance is necessary for peace of mind. It provides the guarantees that your family will be taken care of financially in your absence. Life insurance lets those who depend upon you know that even if you are taken prematurely by an un-foreseen death, you have taken care to provide financial support for your dependents who count on you. Since term life insurance premiums are so affordable it is now a simple matter to protect your families most important asset.... You.

TERM LIFE INSURANCE VS. CASH-VALUE LIFE INSURANCE

Current competition among life insurance companies has dramatically lowered life insurance premiums. A term life insurance policy offering $250,000 worth of life insurance protection that cost $600 a year, just seven years ago, would have an annual term life insurance premium of about $275 today. When we say we can save you 25 - 60% on your term life insurance premiums it is not just marketing hype.

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