Banner vs North American Life Insurance

  • YEAR FOUNDED
    1949
  • CURRENT CEO
    Bernard Leigh Hickman
  • AVAILABLE
    All 50 States
  • ADDRESS
    3275 Bennett Creek Avenue Frederick, MD 21704 United States
  • TOP AWARDS

    "Best Term Assurance Provider"" at the Investment Life & Pensions Moneyfacts Awards 2017

    Communitas Award for Commitment to Corporate Social Responsibility

  • PROS
    • Flexibility of payment options and term limits for each option on the policy
    • Fast-track claims
    • Electronic application
  • CONS
    • Medical exam required.
    • Strict eligibility for preferred rates.
    • Options are very limited in scope
  • YEAR FOUNDED
    1886
  • CURRENT CEO
    Esfandyar Dinshaw
  • AVAILABLE
    All 50 States
  • ADDRESS
    North American Company One Sammons Plaza Sioux Falls, SD 57193
  • TOP AWARDS
  • PROS
    • Over 100 Years in Business
    • Approvals for People with Health Consideration
    • Financial Strength and Ratings
  • CONS
    • Don't currently allow for electronically signed policies
SOURCEBannerNorth American
JD PowerN/AN/A
BBBA+A+
AM BestA+A+
Moody'sN/AN/A
FitchAA-A+
Standard & PoorAA-A+
Comdex Score9493
SOURCEBannerNorth American
Total Assets $7.3 Billion$25.6 billion
Life Insurance in Force$658 Billion$120 billion
BannerNorth American
Term life insurance Addvantage Term
Universal life insuranceUniversal Life Insurance (Custom Accumulator, Custom GrowthCV, Custom Guarantee, Custom Term GUL)
Indexed Universal Life (Builder Plus IUL, Builder IUL, Guarantee Builder IUL, Rapid Builder IUL, Survivorship GIUL)
BannerNorth American
APPcelerateAddvantage Term
OPTerm Life InsuranceUniversal Life Insurance (Custom Accumulator, Custom GrowthCV, Custom Guarantee, Custom Term GUL)
Indexed Universal Life (Builder Plus IUL, Builder IUL, Guarantee Builder IUL, Rapid Builder IUL, Survivorship GIUL)
BannerNorth American
Disability premium waiverWaiver of monthly deduction
Conversion to permanentChildren's Life Insurance Rider
Flexible payment scheduleWaiver of Term Premium for Disability Rider
Accelerated benefit rider
Term laddering rider
Child Protection Rider
Jonathan Holloway
October 13, 2019
John Holloway is a licensed life insurance agent and co-founder at NoExam.com
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