A Policy Owner’s Review of Banner Life Insurance

Banner Life InsuranceIf you want an honest review of Banner Life Insurance, don’t ask an agent.

You want to know what a Banner Life customer has to say, right?

Here’s the twist… I’m both an agent and a Banner policy holder, making me the perfect person to write a Banner Life Insurance Review.

Special Insight from an Agent and Policyholder

One of the first things to understand is to clearly understand that not all life insurance companies are equal. Some are most definitely better than others.

Some insurance companies are way more lenient in not only offering a policy, but can give you better rates as well. Other points to consider is the type of products they offer, how much they cost, their financial stability (which is really important), and the quality of their customer service.

I’m going to talk about Banner Life Insurance Company cause I think it’s a great company with a lot of positive attributes. Now, I know some of you are already rolling your eyes and thinking ‘Yeah right! The guy probably peddles their stuff.’

Actually, this is true because I do sell their products, but consider this – I’m a life insurance guy, but remember, we buy life insurance for our family just like the rest of you.

That’s right! I have a 10 year – $500,000 term life insurance policy, and I bought it through Banner. Do you think that an experienced life insurance agent like myself would go with just any other company? So, why do I like this company?

Here are my reasons.

A Company Snapshot

Banner Life Insurance is a company that has been around awhile and has a venerable history. Banner began as the Government Employees Life Insurance Company (GELICO) and was chartered in 1949. It was purchased L&G America in 1981 and was re-named Banner Life Insurance in 1983. It is headquartered in Rockville, Maryland. and has weathered a lot of history and turbulent times. It’s been growing ever since.

This is not a small time operation. This company is based in 48 states and the District of Columbia. The company has more than 4.6 billion dollars in assets which is not small potatoes.

Financial Health of Banner Life Insurance Company

One of the most important things you need to know when deciding on how good a life insurance company is to find out how healthy it is financially.

Any company which operates on the stock market is rated by companies that specialize in rating the financial health of these type of companies. You’ve probably heard of some these outfits like Moody’s, A.M. Best and Standard and Poor’s, just to name a few. The same type of rating applies to life insurance companies.

How does Banner rate? It currently is rated by A.M. Best as having an A+ rating and by Standard and Poors as having an AA rating which means it is financially healthy and a very stable company.

Why I Love this Company

There are plenty of good reasons why I favor this company. Many of you folks out there have health problems, and which are largely controlled by medication. Getting a life insurance policy can be difficult enough. The reason is because there are plenty of life insurance companies out there which are very stodgy about not only about issuing a policy to someone with a health issue, but selling a policy which is affordable.

Banner breaks the mold folks. Banner is one of the most lenient and liberal companies out there when it comes to issuing a policy to someone with a health issue. Not only are they lenient when it comes to issuing a policy, they offer some of the best competitive rates out there. Let’s face it, whatever you’re buying; you want the best product at the best price.

Here are a couple of examples for you to think about. There are lots of you there who are either taking blood pressure medication, or pills for cholesterol. Most life insurance companies out there will penalize you for these health issues. They’ll take you on but you’re not going to get the going to get the optimum rates and will pay more. Banner is more progressive because they will give you the best rating even if you are taking these types of medications.

Bottom Line

Banner is a great company to get a life insurance company because it leads the pack. I mean – if it’s good enough that I have policy with them for my family’s protection, then maybe it’s the perfect choice for yours.  Call us for a quote at 877-996-9383.