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Legal & General (Banner) Product Update: OPTerm Reprice

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