Carrier Product Information
Legal & General America life insurance products are underwritten and issued by Banner Life Insurance Company, Urbana, MD, and William Penn Life Insurance Company of New York, Garden City, NY. Banner products are distributed in 49 states and in DC. William Penn products are available exclusively in New York; Banner does not solicit business there. OPTerm policy form # ICC12OPTN and state variations. In New York, OPTerm policy form # OPTN-NY. Two-year contestability and suicide provisions apply. Not for public distribution. For broker use only.
The Banner term life insurance premiums quoted here are based on the information provided for this quote. The quote is based on the assumption of excellent health and does not take into consideration occupational risks or other avocations. Approval and actual premiums will be based upon the entire underwriting process, including but not limited to, the information provided on the application, exam results, and specific underwriting requirements and criteria. OPTerm 10 issue ages are 20-80 all classes. OPTerm 15 issue ages are 20-75 all classes. OPTerm 20 issue ages are 20-70 for non-tobacco classes and 20-65 for tobacco classes. OPTerm 30 issue ages are 20-55 for non-tobacco classes and 20-50 for tobacco classes.
Premium rates vary by coverage amount: $100,000-$249,999, $250,000-$999,999, $1,000,000 and above. Premiums quoted include a $65 annual policy fee. Premiums are guaranteed to stay level for 10,15, 20, or 30 years, respectively, and increase annually after the initial guarantee period. OPTerm policies can be issued in preferred plus non-tobacco, preferred non-tobacco, standard plus non-tobacco, standard non-tobacco, preferred tobacco, and standard tobacco classes. OPTerm 10, 15, 20, and 30 substandard policies can be issued through Table 12, subject to underwriting discretion. Coverage can be renewed to age 95. Policies can be returned without obligation within 30 days of receipt in most states. Rates as of 09-04-2012.
The William Penn OPTerm life insurance premiums quoted here are based on the information provided for this quote. The quote is based on the assumption of excellent health and does not take into consideration occupational risks or other avocations. Approval and actual rates will be based upon the entire underwriting process, including but not limited to, the information provided on the application, exam results, and specific underwriting requirements and criteria. Please refer to the policy form for full disclosure of benefits and limitations. OPTerm 10, 15, 20, and 30 are term life insurance policies. OPTerm 10 issue ages 20-80 non-tobacco classes; 20-77 tobacco classes. OPTerm 15 issue ages 20-70 non-tobacco classes; 20-69 tobacco classes.
OPTerm 20 issue ages 20-63 for non-tobacco classes, 20-62 for tobacco classes. OPTerm 30 issue ages 20-51 for non-tobacco classes; 20-50 for tobacco classes. Premium rates vary by coverage amount: $100,000-$249,999, $250,000-$999,999, $1,000,000 and above. Premiums quoted include a $65 annual policy fee. Initial premiums remain level for 10, 15, 20, and 30 years respectively. After the initial level term period, premiums increase annually to age 95. OPTerm 10, 15, 20, and 30 can be issued in preferred plus non-tobacco, preferred non-tobacco, standard plus nontobacco or standard non-tobacco, preferred tobacco, and standard tobacco rates. Substandard policies can be issued through Table 12, subject to underwriting discretion. Policies can be returned without obligation within 30 days of receipt. Rates as of 09-04-2012.