What are the changes? 

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 October 15, 2021.

  • Banner Life OPTerm pricing comes in at #1 – 71% 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.

Administrative Guidelines

New Business Submission and Pending New Business

Traditional Paper Applications

  • New applications received in the home office by November 14, 2021, and applications currently pending will be issued with the most favorable premium for the insured.
  • Applications received November 15, 2021, and later will be issued with the new rates.

AppAssist

  • Formal applications received by November 14, 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 interview to be completed and the application submitted by November 14, 2021.
  • New rates will apply to all completed interviews and subsequent formal applications received November 15, 2021, and later.

Digital Applications

  • Formal applications received by November 14, 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 interview to be completed and the application submitted by November 14, 2021.
  • New rates will apply to all completed interviews and subsequent formal applications received November 15, 2021, and later.

Direct-Access Distribution Partners Only: 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.
  • Reissue requests can be made from the Partner Dashboard or by sending an email to: Banner_Reissue@lgamerica.com or Penn_Reissue@lgamerica.com.
  • All reissue requests must be made in writing. Phone requests will not be accepted.

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Corporate Headquarters:
604 Harper Avenue, Jenkintown, PA 19046 | P: 800.543.5555 / 215.517.4080 | F: 800.343.0804 / 215.517.4087

Miami Office:
3470 NW 82nd Avenue, Suite #670, Doral, FL 33122 | P: 800.683.3077 / 305.908.6700 | F: 800.343.0804

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

Premier Brokerage Services is not affiliated with The Leaders Group, Inc.

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