Exciting Changes for OPTerm

What are the pricing changes? 

We’re making more reductions, especially in the Preferred and Standard classes, which means more #1 pricing than any other carrier. These changes are effective, 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.**

Check out our updated term webpage to find product specifications, marketing materials and more. You can also download our Administrative Guidelines.  

New product policy form

Also effective today, we’re implementing a new product policy form for our OPTerm products which will help us continue to provide the highly competitive pricing and strong customer value for which LGA has long been known. Here’s what you need to know: 

  • The new product policy form will have a new form number and will replace the current product policy form.
  • Application received prior to the effective date will be issued on the current product policy form. Applications received on or after the effective date will be issues on the new product policy form.
  • There will be a one-time, automatic reduction in the death benefit at the end of the level period.
  • All other product features and riders will remain unchanged. 

*Rankings based on Banner Life OPTerm monthly pricing for all ages and classes at durations of 10, 15, 20, 25, 30, 35 and 40 years.
**Rankings based on William Penn OPTerm monthly pricing for all ages and classes at durations of 10, 15, 20, 25 and 30 years.