Policy Changes to Banner Life Insurance’s Term Product Line

Banner Life recently raised their yearly policy fee and changed their banding in the Term product line. See more of the article here…

clipped from lifeinsurance-pros.com Banner Life Insurance Company Policy Changes clipped from lifeinsurance-pros.com Banner Life Insurance Company made a few changes to their policies rates bands and yearly policy fee.  The Annual Policy Fee is a charge most Life Insurance Carriers charge for administrative cost’s to the policy on a yearly basis.  Banner Life recently changed theirs upward but it still is in line with other major life carriers. For all term products the $50  policy fee will increase to $60. Premium Bands Two new premium rate bands have been added to the term products for face amounts $50,000 to $99,999 and $2 million and above. The five term premium bands are as follows: $50,000-$99,999 $100,000-$249,999 $250,000-$999,999 $1,000,000-$1,999,999 $2 million & over