10/26/2009 - Banner Life-Lower Term Rates
Effective October 26, 2009, Banner will make the following term portfolio revisions:
Lower rates in all non-tobacco underwriting classes for OPTerm® 10, 15, 20 and 30-year level term plans in the following premium bands:
Band 3: $250,000-$999,999
Band 4: $1 million - now expanded to include $2 million
Increase the non-commissionable policy fees on all policies from $60 to $65
With the combination of these changes in our rates and fees, we can provide a moreuniformly competitive overall term portfolio.We invite you to compare these prices to the competitors.
Banner’s Illustration Manager Version 15.5 has been updated and is available today, October 26. To assure the accuracy of illustrations, be sure to download these versions from our website atwww.LGAmerica.com.
Any applications in house or received prior to November 16, will receive the product thatoffers the lowest premiums. Any application received on or after November 16, willreceive the new premiums.
We intend to stay competitive in all aspects of the term market including price,underwriting and compensation. To accomplish this in the long run, fiscally responsible pricing changes and structural actions are sometimes necessary to reflect significant changes in the market.
