Banner Life Lowers OPTerm Rates, Effective Today

The #1 term life insurance carrier in the U.S.¹ just got even more competitive.

Banner Life Insurance Company is lowering rates on its OPTerm product, effective October 14, 2026, giving agents another reason to bring Banner Life into term conversations for clients across nearly every coverage length.

What’s Changing

Starting today, Banner Life’s OPTerm rates are more competitive across the board, whether a client needs protection for 10 years or a full 40-year term. According to Banner Life, this isn’t a limited-time pricing move but a reflection of how the company positions itself in the market — a commitment the company credits as a factor in its standing as the #1 term life insurance carrier in the U.S.¹

With the new rates in place, Banner Life expects to rank among the top pricing options approximately 87% of the time² — a meaningful edge for agents comparing term quotes across carriers.

Why This Matters for Your Clients

Term coverage decisions often come down to price competitiveness at the moment of comparison. With OPTerm’s rates improving today, this is a good opportunity to revisit any term cases where Banner Life was previously close but not quite the top option, or where a client paused a decision over premium cost.

Where to Find the Details

Banner Life has published updated Administrative Guidelines reflecting the new pricing structure: Banner Life OPTerm Administrative Guidelines

Worth a Second Look

If you have any OPTerm quotes sitting in a client’s inbox from the past few weeks, today’s a good day to follow up — the new pricing may put Banner Life back in the running for a client who was comparing rates before deciding.

Agents with questions about how the new OPTerm pricing applies to a specific case are welcome to connect with the Life Team at The Brokerage Inc.