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Banner Life Insurance Review

Banner Life has very competitive underwriting for some substandard health profiles, making it a good option for those with medical issues.

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Overview

Banner Life, an A+ rated company founded in 1949, has a fast track process for applicants with no significant medical history, which is a rare offering among life insurance companies. They also offer competitive underwriting for a range of health conditions, making it a good option for some with substandard health profiles.

Our take

Banner Life has very competitive underwriting for some substandard health profiles, making it a good option for those with medical issues. The length of time BannerLife's underwriting process takes is average, but once you have the policy, you can update most of your information online.

Financial Strength

Founded

1949

PolicyholderstooltipThis is how many active US life insurance customers this company insures.

1,700,000

AM BesttooltipA.M. Best is an independent rating agency that evaluates the financial strength of insurance companies. Ratings as of May 2016, on a scale from A++ to D.

A+

BBB RatingtooltipBetter Business Bureau (BBB) is a non-profit that collects consumer feedback on businesses around the country.

A+

JD PowertooltipJ.D. Power and Associates is a global marketing information services firm that conducts surveys of customer satisfaction, product quality, and buyer behavior.

N/A

Accolades

In 2014, Banner Life won "Best Life Insurance Provider" at the Personal Touch Awards.

Finding the best rates

Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how Banner Life treats a variety of common health conditions from an underwriting perspective.

Pricing for health conditions
Health ConditionPricing
Survivor/Family HistoryExcellent
Recent Weight LossGood
Heart AttackGood
DiabetesGood
Sleep ApneaExcellent
Former Tobacco UseGood
High Blood PressureGood
High CholesterolGood

Excellent - Above average; company provides excellent coverage for clients with this condition.

Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.

Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.

Compare Banner Life to other top carriers

Find head-to-head comparisons of Banner Life and other top-rated life insurance companies to help you make the right decision.

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New York, NY 10010

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