Industry Update: Banner Life Lowers Term Rates

Keeping up with carrier pricing changes can make a difference when shopping coverage for your clients.

As of August 11, 2026, Banner Life lowered rates on OPTerm, offering more competitive pricing across term periods ranging from 10 to 40 years.

What this means for agents:

• More competitive term pricing

• Coverage options from 10–40 years

• An opportunity to revisit current term quotes

• Another carrier to consider when comparing the market

Banner Life reports that its pricing ranks among the top of its core competitors approximately 88% of the time, based on annual premiums as of August 10, 2026.

Agent Tip: If you have clients who have been quoted term coverage recently, or prospects who were previously priced out, it may be worth running a fresh Banner Life quote to see if the new rates improve the opportunity.

Banner Life has also released updated Administrative Guidelines, so be sure to review the latest guidelines when submitting business.

Stay current. Quote the market. Give your clients options.