Legal & General Banner Life Insurance Company

Banner Life Insurance Company

1701 Research Boulevard
Rockville, Maryland 20850

Phone: (800) 638-8428 
S&P: AA 
* A.M. Best: A+ (Superior) 

The history of Banner Life Insurance Company is more than 50 years strong. Chartered in 1949 as Government Employees Life Insurance Company (GELICO), we were acquired by Legal & General Group Plc as a wholly owned subsidiary in 1981.

In 1983, our name was changed to Banner Life, signifying our flagship position with Legal & General America in the United States.

Banner Life's subsidiary, William Penn Life Insurance Company of New York, joined the corporate group in 1989. Since that time, management for both companies has been consolidated at the senior level.

Banner Life's national presence, William Penn's nearly 40 years of brokerage experience and the operational synergy between both companies is a strong combination. Banner's life insurance products are sold through independent life brokerage agencies in 48 states and the District of Columbia.

True Blue Review:

Banner products have incredible pricing. Their term product has a no exam option for the healthiest applicants. They also have excellent universal life policies and are great for people with poor health. Applications are taken by phone (in about an hour) and the whole approval process can take 6-12 weeks. Customer service is hit or miss. They don’t talk to agents, which is frustrating for us. While the application process can be tedious, you can end up with a great deal on a policy.

Material: Company Brochure

*A.M. Best Company ratings range from A ++ (Superior) to F (In Liquidation)

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