We’re making more reductions, especially in the Preferred and Standard classes, which means more #1 pricing than any other carrier. These changes will be effective today, September 2, 2021.
- Banner Life OPTerm pricing comes in at #1 – 79% of the time and ranks top 3 – 92% of the time against term competitors in the national market.
- William Penn OPTerm pricing comes in at #1 – 85% of the time and ranks top 3 – 97% of the time against term competitors in the New York market.
More reductions, especially in the Preferred and Standard classes, means more #1 pricing than any other carrier.
Changes to level period premium rates across all term durations (10 – 40 years) except Penn 25, with targeted improvements to the Preferred and Standard classes
Transition Rules for Submitted and Pending New Business
Traditional Paper Applications
New applications received in the home office by September 2, 2021, and applications currently pending will be issued with the most favorable premium for the insured.
AppAssist (Traditional or Digital Applications)
Formal applications received by September 2, 2021, 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 online application or telephone interview to be completed and submitted by October 2, 2021. New rates will apply to all completed interviews and subsequent formal applications received October 3, 2021 and later.
Direct-Access Distribution Partners Only:
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. Phone requests will not be accepted.