Effective August 19, 2019, new rates for Banner and William Penn OPTerm 10, 15, 20, 25 and 30 include a mix of decreases and increases. No changes to our highly competitive rates for OPTerm 35 and 40. Rate decreases in more than 38% of pricing cells improved our ranking against core competitors.

Transition Rules

Traditional Paper Applications

  • New applications received in the home office by September 18, 2019, and applications currently pending will be issued with the most favorable premium for the insured.
  • Applications received September 19, 2019, and later will be issued with the new rates.


  • Formal applications received by September 18, 2019, will be issued with the most favorable premium for the insured.
  • In order for the policy to be eligible for prior rates, the drop ticket should be submitted with enough time for the interview to be completed and the application submitted by September 18, 2019.
  • New rates will apply to all completed interviews and subsequent formal applications received September 19, 2019, and later.

Reissue Requests

  • Recently issued policies can be considered for reissue, with the new rates, provided the free look period has not expired. Make sure you indicate that you want the policy reissued with the new rates.
  • All reissue requests must be made in writing. Telephone requests will not be accepted.


Securities offered through The Leaders Group, Inc. Member FINRA/SIPC 26 W. Dry Creek Circle, Suite 800, Littleton, CO 80120, 303-797-9080.

GBS Insurance and Financial Services, Inc. is not affiliated with The Leaders Group, Inc. You may check the background of investment professionals on FINRA Broker Check

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