Banner Life Insurance

Banner Life Insurance sells life insurance products through 12 marketing groups made up of independent brokers across the country. The company offers a variety of term and universal life insurance policies. Our Banner Life Insurance review finds that despite the company's financial strength, its customer service experience is lacking. Scroll down for reader reviews and company overview.

Free Insurance Quote Comparison

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Jun 24, 2021

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Company Details
Address: 3275 Bennett Creek Avenue
City: Frederick
State: MD
ZIP Code: 21704
Phone Number: 800-638-8428
AM Best Rating: A+
URL where was collected the AM Best Rating: http://www.ambest.com/ratings/
Lines of Insurance: life
States Licensed To Sell Insurance In: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
Type of Insurance Company: Stock
Parent Company: Legal & General Group Plc
Top executive Contact: James D. Atkins
Title of Top executive: CEO and President
Ticker Symbol: LON: LGEN
Assets & Premiums:

$587 billion of life insurance in force$5.7 billion in assets

Insurance subsidiaries:
  1. William Penn Life Insurance Company of New York
Company Rating 1.98 (42 reviews)

Company Overview:



Company History: Banner Life Insurance Company was chartered in 1949 under the name Government Employees Life Insurance Co. (GELICO) as part of the Government Employees Group. GELICO was rated A+ (superior) for the first time in 1976 and was acquired as a subsidiary by Legal & General Group PLC in 1981. In 1983, the company changed its name to Banner Life Insurance Company. In 1989, the company acquired William Penn Insurance of New York. And in 2010, Banner Life Insurance ranked 12th among all US companies that issued new life coverage that year. Now Banner has an investment portfolio that is 94% investment-grade assets; mortgage-backed securities holdings, of which 98% are rated A or better at 87% are rated AAA; commercial mortgage-backed securities holdings of which 86% are rated A or above and 76% are rated AAA; and asset-backed securities holdings that are diversified and of which 86% are rated AAA.
Principle Sales Methods: Today Banner Life Insurance sells individual life insurance policy coverage through 12 marketing groups. These groups have 300 member agencies and 60 other general independent brokerage agencies. Banner Life Insurance Company employs around 70,000 brokers.
Life Annuity Business: Banner offers a variety of Term Life and Universal life policies.

42 Comments

  1. Anonymous May 29, 2007
  2. Anonymous December 13, 2007
  3. Anonymous March 25, 2008
  4. Anonymous June 22, 2008
  5. Anonymous July 6, 2008
  6. Anonymous November 8, 2008
  7. Anonymous January 6, 2009
  8. Anonymous January 12, 2009
  9. Anonymous January 19, 2009
  10. Anonymous March 19, 2009
  11. Anonymous December 12, 2009
  12. Anonymous January 17, 2010
  13. Anonymous February 23, 2010
  14. Anonymous March 7, 2010
  15. Anonymous March 16, 2010
  16. Anonymous April 25, 2010
  17. Anonymous June 28, 2010
  18. Anonymous September 4, 2010
  19. Anonymous November 15, 2010
  20. Anonymous November 30, 2010
  21. Anonymous December 12, 2010
  22. Anonymous December 13, 2010
  23. Anonymous December 14, 2010
  24. Anonymous January 12, 2011
  25. Anonymous March 2, 2012
  26. Anonymous July 19, 2012
  27. Anonymous August 8, 2012
  28. Anonymous October 16, 2012
  29. Anonymous November 5, 2012
  30. Anonymous March 24, 2013
  31. Anonymous May 30, 2013
  32. Anonymous September 27, 2013
  33. Anonymous September 30, 2013
  34. Anonymous March 30, 2014
  35. Anonymous April 22, 2014
  36. Anonymous June 2, 2014
  37. Anonymous July 26, 2014
  38. Anonymous June 15, 2015
  39. Anonymous July 12, 2017
  40. Anonymous July 13, 2018
  41. Anonymous April 14, 2019
  42. Anonymous November 14, 2019

Leave a Reply

Sending

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

 Secured with SHA-256 Encryption