On Monday, June 19th, Legal & General released new term rates for Banner’s OPTerm product.
For all ages*, classes, amounts, and durations, Banner ranks #1 – 78% of the time. William Penn ranks #1 – 83% of the time.
New rates include both decreases and increases. Price decreases improved our #1 ranking by over 20% and were primarily focused in these areas:
- Higher face amounts ($500K or more)
- Younger lives (Age 57 and below)
- All underwriting classes
- Evenly split between males and females
- 15- and 30-year plans
Increases affected 15% of all pricing cells, however, most made no change to competitive rank.
CLICK HERE to view the Old OPTerm vs the New OPTerm PDF