Banner No Exam Life Insurance | Your Essential Guide For 2019

Written by Heidi Mertlich

Banner Life Insurance, a highly-rated carrier, offers no exam life insurance in specific circumstances.

We make term life insurance protection easy to understand and easy to purchase.

– Banner Life Insurance

Because each life insurance company is different in their product offerings, underwriting processes, and premium pricing, you’ll want to be informed before moving forward with an application.

Consider this your essential guide to no exam life insurance for Banner’s term life insurance.

Table Of Contents

  1. Company History
  2. No Exam
  3. Application Process
  5. Bottom Line

Banner Life Insurance History


Owned by the Legal & General Group, Banner’s beginnings date back to 1836, in London, England.

Six attorneys met in a London coffee shop to converse about life insurance. From there, under the direction of John Adams, an association was created that would eventually be called, Legal & General Life Assurance Society.

Legal & General America was established in 1981. That same year, they purchased Government Employees Life Insurance Company (GELICO). In 1983, GELICO’s name changed to Banner.

While Banner (and William Penn of New York) underwrite and issue life insurance policies, they belong to their parent company, Legal & General.

Financial Strength Rating: A+ (A.M. Best)

Interesting fact – Legal & General raised hundreds of thousands of dollars for a program called, VetDogs. Based in New York, VetDogs “provides service dogs to veterans, active-duty service members and first responders with disabilities”.

Banner No Exam Life Insurance

Here, you’ll find the most important aspects of Banner’s no medical exam life insurance policy to consider.


There are five important aspects to evaluate before you apply for a policy.

  1. Wait time – the turnaround time for a policy’s issuance.
  2. Issue ages – the ages a carrier is willing to offer coverage to.
  3. Policy amount – the amount of life insurance you can purchase.
  4. Policy length – known as the term, the length of time your policy will last.
  5. No medical exam – the specific underwriting process that skips needles, nurses and liquid samples.

How does Banner measure up?

1. Wait Time

If you qualify for Banner’s AppAssist no exam program, it may only take a few hours for your policy to be issued. That’s lightning fast.

Keep in mind, the AppAssist program is a form of Accelerated Underwriting.

What this means – You must qualify for Accelerated Underwriting and it works best for those who are healthier.

It’s possible that you will be required to participate in an exam if you do not meet the requirements for AppAssist. This could add weeks onto the wait time.

For example, you may have had a health condition in the past, like a history of cancer, that would prompt medical underwriting.

2. Issue Ages

Banner issues no exam life insurance policies to those between the ages of 20 – 50.

Many carriers offer coverage to applicants older than 50. Evaluate the following carriers for older issue ages:

3. Policy Amount

Referred to as face value by carriers, your policy amount is simply how much money the life insurance contract’s death benefit is.

Banner’s no exam term policies are offered at fairly standard amounts, ranging from $100,000 to $1,000,000.

It’s important to note that there are parameters regarding age limits and policy amount:

Banner Available Policy Amount Based On Age

15, 20, 25, and 30 Year Term  
Ages 20 - 40$100,000 - $1 million
Ages 41 - 45$100,000 - $750,000
Ages 46 - 50 $100,000 - $500,000
Subject to change. Accelerated underwriting program.

Banner Available Policy Amount Based On Age

10 Year Term  
Ages 20 - 50$100,000 - $50,000
Subject to change. Accelerated underwriting program.

4. Policy Length

Called term length, Banner offers a wide range: 10, 15, 20, 25, and 30 years.

15 year term and 25 year term policies are somewhat uncommon.

Keep in mind – before selecting a term length, assess exactly how long you will need coverage for. As long as someone depends on you financially, you likely need life insurance.

If your coverage needs are permanent, consider whole life insurance with no medical exam.

5. No Exam

Banner’s no exam life insurance is underwritten via Accelerated Underwriting (AU).

Some would describe AU as not a true no exam life insurance product. Why? You may have to participate in a medical exam based on your interview and records check.

If you are unwavering in your desire to skip the nurses, needles, and liquid samples, we recommend you evaluate true no physical life insurance carriers.

Note – other carriers that utilize Accelerated Underwriting include:


Riders are not always top-of-mind when shopping for coverage. However, they can make all the difference during a difficult time.

Riders are contractual provisions to your life insurance contract, providing additional features and benefits.

Banner offers an important rider you should be aware of.

Accelerated Death Benefit

If you are diagnosed with a qualifying terminal illness, this rider allows you to accelerate up to 75% of your death benefit (up to a maximum of $500,000).

What this means – you may access your death benefit – while still living – if you are terminally ill. Upon death, your beneficiaries will receive the remaining balance of your death benefit.

Other riders are available, depending on state of residence and policy type.

Banner Application Process

Keep in mind, Banner uses AppAssist, an accelerated underwriting process.

As your application is evaluated, the underwriting will determine whether or not you qualify to skip the medical exam.

AppAssist steps:

NoteAppAssist accelerated underwriting is currently unavailable in Connecticut, Hawaii, Alaska, and New York

Step 1 Application Submission

Banner requires all accelerated underwriting applications to be submitted through their AppAssist program.

We recommend working with an independent agent through the process.

NoteAppAssist is a tele-application program that is designed to streamline the application.

Step 2 Phone Interview

Right away, plan to participate in a straightforward interview over the phone. The phone call typically takes about 45 minutes.

All of the information you provide over the phone interview will be kept confidential.

Your phone interview will include:

  1. Driver’s license and social security number
  2. Names, addresses and phone numbers of your physicians, hospitals/clinics you have visited in the last 10 years
  3. Reasons for and dates of medical treatments
  4. Names of prescription medications you are taking
  5. Other life insurance policies you own, including amount and policy numbers
  6. Financial information including income, assets, liabilities and net worth

You will provide a voice signature at the completion of the phone call.

Step 3 Database Checks

While you are participating in your phone interview, database checks are conducted simultaneously.

Your data will be checked from the following sources:

  • Identity verification
  • MIB – Medical Information Bureau
  • MVR – Motor Vehicle Report
  • RX History Check – prescription history
  • FCRA Consumer database check – Fair Credit Reporting Act

Step 4 Underwriter Review

Your underwriter will evaluate your phone interview and database checks to determine if you are a good fit for Banner’s accelerated underwriting.

At the end of the interview, the client may be approved instantly, or within 48 hours of the interview.


Ineligible Medical Conditions

While not an exhaustive list, the following are common conditions that will often disqualify you:

  • Alcohol or drug abuse/treatment
  • Cancer (Basal or Squamous Cell okay)
  • Heart disease or heart surgery
  • COPD or emphysema
  • Bipolar disorder
  • Diabetes
  • Multiple Sclerosis (MS)
  • Stroke
  • Rheumatoid arthritis
  • Parkinson’s disease
  • Sickle cell anemia

Ineligible Lifestyle Factors

Frequently occurring lifestyle elements that may disqualify you:

  • High amounts of debt or delinquent debt
  • Criminal history
  • Low credit score
  • Evictions
  • Multiple infractions on driving record

Bottom line – Banner’s underwriters are in the business of evaluating risk. In order to qualify for accelerated underwriting (skip the medical exam), you must pose a low level of risk.

Banner Life Insurance Quotes

Banner does not distinguish between their fully underwritten and no medical exam pricing.

In other words, regardless of the underwriting process, premiums cost the same.

Banner Life Insurance Quotes Male 20 - 29

20 year old$8.43$12.81$16.77$31.99
21 year old$8.43$12.81$16.77$31.99
22 year old$8.43$12.81$16.77$31.99
23 year old$8.43$12.81$16.77$31.99
24 year old$8.43$12.81$16.77$31.99
25 year old$8.43$12.81$16.77$31.99
26 year old$8.43$12.81$16.77$31.99
27 year old$8.43$12.81$16.77$31.99
28 year old$8.43$12.81$16.85$31.99
29 year old$8.43$12.81$16.87$31.99
Samples only. Quotes are subject to change. 10-year term.

Banner Life Insurance Quotes Female 20 - 29

20 year old$6.88$8.53$11.80$17.14
21 year old$6.88$8.53$11.80$17.14
22 year old$6.88$8.53$11.80$17.14
23 year old$6.88$8.53$11.80$17.14
24 year old$6.88$8.53$11.80$17.14
25 year old$6.88$8.53$11.80$17.14
26 year old$6.88$8.56$11.80$17.97
27 year old$6.88$8.60$11.80$17.97
28 year old$6.88$8.64$11.80$19.12
29 year old$6.88$8.69$11.80$19.19
Samples only. Quotes are subject to change. 10-year term.

Banner Life Insurance Quotes Male 30 - 39

30 year old$8.43$12.81$16.87$31.99
31 year old$8.44$12.81$16.92$32.03
32 year old$8.46$12.81$16.95$32.03
33 year old$8.48$12.81$19.78$32.03
34 year old$8.50$12.81$19.78$33.80
35 year old$8.43$12.81$16.77$31.99
36 year old$8.53$12.81$20.42$34.57
37 year old$8.84$14.19$20.81$34.74
38 year old$9.05$14.83$22.36$41.71
39 year old$9.30$15.05$23.65$44.29
Samples only. Quotes are subject to change. 10-year term.

Banner Life Insurance Quotes Female 30 - 39

30 year old$6.88$8.71$11.80$19.26
31 year old$6.88$8.77$11.99$19.33
32 year old$6.89$8.79$12.07$19.40
33 year old$7.05$9.86$13.97$24.51
34 year old$7.05$9.89$13.97$25.37
35 year old$7.05$9.89$14.62$25.37
36 year old$7.49$10.10$15.05$26.23
37 year old$7.49$10.53$15.91$27.09
38 year old$7.49$10.99$16.14$28.29
39 year old$7.71$11.53$17.24$30.10
Samples only. Quotes are subject to change. 10-year term.

Banner Life Insurance Quotes Male 40 - 50

40 year old$9.56$15.20$24.94$47.73
41 year old$9.99$15.93$25.80$53.75
42 year old$10.43$16.79$26.66$54.29
43 year old$10.86$17.74$28.81$54.29
44 year old$11.20$18.83$30.53$61.28
45 year old$11.20$20.25$32.25$66.65
46 year old$12.35$22.18$36.12$71.81
47 year old$12.95$23.81$39.13$77.83
48 year old$13.59$24.28$39.13$79.12
49 year old$14.28$25.73$43.43$86.00
50 year old$15.03$27.50$47.73$92.88
Samples only. Quotes are subject to change. 10-year term.

Banner Life Insurance Quotes Female 40 - 50

40 year old$7.94$12.04$18.48$32.28
41 year old$8.28$12.69$19.41$35.26
42 year old$8.65$13.40$20.47$36.55
43 year old$9.05$13.76$21.77$40.85
44 year old$9.49$14.64$23.48$43.43
45 year old$9.96$15.69$25.41$46.87
46 year old$10.41$16.66$27.52$50.31
47 year old$10.89$17.62$29.24$54.61
48 year old$11.42$19.63$32.21$58.91
49 year old$12.00$20.99$34.53$62.35
50 year old$12.63$22.46$37.02$69.23
Samples only. Quotes are subject to change. 10-year term.

Quotes shown are for monthly premium mode.

Bottom Line

Remember, Banner’s pricing is the same regardless of the underwriting method, meaning that they have competitive rates for no exam life insurance.

Whether you apply with Banner or another life insurance carrier, you will want to do a couple things to be sure you are finding the best policy to fit your needs.

  1. Independent agent. Be sure to collaborate with an independent agent – one who has access to multiple top carriers – so that you are able to find the best policy to fit your needs. There is no one-size-fits-all life insurance company.
  2. Ducks in a row. In order to know what type of policy will work best for you, you’ll need to have your important information readily available. We’re talking income, medical and lifestyle history and the financial needs of those who depend on you.

To get started, simply fill out our free instant quote.

About No Physical Term Life
About No Physical Term Life

We’re an independent life insurance agency that specializes in no exam life insurance. We’re licensed in all 50 states and can help you directly over the phone or even by email if you’d like (just fill out a quote form and you’ll get an email from us).

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