Banner vs State Farm 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
    1922
  • CURRENT CEO
    Michael L. Tipsord
  • AVAILABLE
    48 States
  • ADDRESS
    East P.O. Box 588002 North Metro, GA 30029
  • TOP AWARDS

    N/A

  • PROS
    • Great Term Life Insurance
    • Top rated customer service
  • CONS
    • Term lengths
    • Higher premiums than other companies
SOURCEBannerState Farm
JD PowerN/A5/5
BBBA+A-
AM BestA+A++
Moody'sN/AAa1
FitchAA-N/A
Standard & PoorAA-AA
Comdex Score9498
SOURCEBannerState Farm
Total Assets $7.3 Billion$160.732 billion
Life Insurance in Force$658 Billion$901.7 billion
BannerState Farm
Term life insurance Select Term 10, 20, 30
Universal life insuranceReturn of Premium 20, 30
Mortgage Life 15, 30
Whole Life
Limited Pay 10, 15, 20
Single Premium Life
Universal Life
Survivorship Universal Life
Joint Universal Life
BannerState Farm
APPcelerateSelect Term 10, 20, 30
OPTerm Life InsuranceReturn of Premium 20, 30
Mortgage Life 15, 30
Whole Life
Limited Pay 10, 15, 20
Single Premium Life
Universal Life
Survivorship Universal Life
Joint Universal Life
BannerState Farm
Disability premium waiverN/A
Conversion to permanent
Flexible payment schedule
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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