Banner Life vs Protective life insurance

Learn the differences between the life insurance options offered by Banner Life and Protective.

Colin Lalley 1600

Colin Lalley

Published August 8, 2018

Banner Life and Protective are both established life insurance companies that provide competitive rates and are good choices for most applicants. But which one is right for you? Besides looking at price, anyone trying to decide between Banner and Protective should consider the riders offered by each company, as well as the consumer ratings assigned by independent organizations.

If you’re looking for the most affordable life insurance option, here are the average monthly premiums for Banner Life and Protective term life insurance policies.

Banner LifeProtective
MaleAge 30$21.44$20.21
Age 40$32.38$28.38
Age 50$94.07$75.68
FemaleAge 30$18.19$17.63
Age 40$26.60$25.94
Age 50$58.62$55.47

Average premium cost based on $500,000/20-year term life insurance policies for healthy, nonsmoking applicants in California.

Life insurance companies base your premium price largely on your current health and health history. Some companies are more lenient and provide better pricing for some health conditions than others.

Banner LifeProtective
Cancer Survivor/Family HistoryExcellentGood
Recent Weight LossGoodGood
Heart AttackGoodGood
DiabetesGoodGood
Sleep ApneaExcellentGood
Former Tobacco UseGoodFair
High Blood PressureGoodGood
High CholesterolGoodGood

Learn more about the best life insurance companies for every scenario.

IN THIS ARTICLE

Banner Life and Protective are both established life insurance companies that provide competitive rates and are good choices for most applicants. But which one is right for you? Besides looking at price, anyone trying to decide between Banner and Protective should consider the riders offered by each company, as well as the consumer ratings assigned by independent organizations.

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Need help deciding?

Let our experts help you make the right choice between Banner Life and Protective based on your family's financial needs.

Riders let you customize your life insurance policy so it fits your specific needs. Compare the riders offered by Banner Life and Protective to choose the company that works best for you.

Banner LifeProtective
Child Protection RiderXX
Accelerated Death Benefit RiderXX
Accidental Death Benefit Rider X
Disability Waiver of Premium RiderXX

Learn more about life insurance riders.

Life insurance companies can be ranked in several different ways. A.M. Best provides ratings based on the financial strength of the company, while J.D. Power conducts surveys based on customer service, product quality, and buyer behavior, and the Better Business Bureau (BBB) provides grades based on consumer feedback.

How do Banner Life and Protective compare in financial and customer service ratings?

Banner LifeProtective
A.M. BestA+A+
J.D. PowerN/A3 out of 5
BBBA+A+

Compare life insurance companies

Find more head-to-head comparisons between top-rated life insurance companies to help you make the right decision.

Choosing the right life insurance company

So, is Banner Life the right life insurance company for you, or is it Protective? It depends on your individual situation, which is why it's important to look at policy cost, health considerations, riders, and customer service provided by each company before you buy.

Ready to start looking at policies from Banner Life, Protective, and other top life insurance companies? Use our coverage calculator for find plans and companies tailored to your needs.

About the author

Insurance Expert

Colin Lalley

Insurance Expert

Colin Lalley is the Associate Director of SEO Content at Policygenius in New York City. His writing on insurance and personal finance has appeared on Betterment, Inc, Credit Sesame, and the Council for Disability Awareness. Colin has a degree in English from the University of North Carolina at Chapel Hill.

Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

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