Banner Life review

Banner Life, part of Legal & General America, is the carrier behind several online brands, and buying from it directly gives you the most choice on this list. Level terms run from 10 to 40 years in five-year steps, which lets parents of a newborn cover the full span until their child is through college and beyond. Coverage starts at $100,000 and goes beyond $10 million, and issue ages run from 20 to 75. Banner publishes a starting price of $8 a month. Its rider menu is the deepest here: term riders let you stack a shorter policy on top of a long base policy, a child rider covers children until age 25, and an accelerated death benefit rider is included on term policies effective 2011 or later, subject to availability. Banner reports 1.6 million U.S. policyholders and a No. 2 ranking for term life sales in LIMRA's 2025 survey. Its term page makes no promise of a no-exam decision, so plan for a longer underwriting path. We compared documented features and published prices.

Who it is for

Parents of young children who want a long level term or large coverage amounts.

Price

From $8 a month; price depends on age, health, term and amount.

we offer term life insurance policies for as little as $8 a month
Quoted from the vendor pricing page on November 9, 2026.

Key features

• Level terms of 10, 15, 20, 25, 30, 35 and 40 years
• Coverage from $100,000 to beyond $10 million
• Issue ages 20 to 75
• Term riders to stack coverage, plus a child rider covering children until age 25
• Accelerated death benefit rider and options to renew or convert to permanent cover

Strengths and weaknesses

• Strength: The widest choice of term lengths on this list, up to 40 years
• Strength: Coverage beyond $10 million for high earners
• Strength: Ranked No. 2 term life provider in the 2025 LIMRA U.S. retail sales survey, per Banner
• Weakness: Its term page does not promise a no-exam or instant decision
• Weakness: Not sold in New York under the Banner name
• Weakness: Buying usually runs through a quote request or advisor rather than a pure app

Key facts

• Starting price: $8 a month
• Term lengths: 10 to 40 years in 5-year steps
• Coverage: $100,000 to beyond $10 million
• Issue ages: 20 to 75
• Policyholders: 1.6 million in the U.S. (year-end 2025)

Where it ranks

Banner Life is No. 2 in our Best Term Life Insurance verdict.