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Banner vs State Farm Life Insurance

Banner and State Farm are two solid life insurance companies. Rest assured you can't make a bad choice if you have narrowed it down to Banner and State Farm. See our side by side comparison below to see how these two companies stack up. We have included financial ratings, current leadership, assets, and premium in force for both Banner and State Farm.
  • 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

Compare Other Options

1st place trophy
1st

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2nd place trophy
2nd

AIG, also know as American International Group, has been in business since 1919. AIG's strong financial rating, product selection and competitive pricing earns it the #2 spot.

3rd place trophy
3rd

Banner is a subsidiary of Legal & General, and have been in business since 1836. They hold an A+ financial rating and have some of the most competitive rates. This earns them the #3 spot.

SOURCE Banner State Farm
JD Power N/A 5/5
BBB A+ A-
AM Best A+ A++
Moody's N/A Aa1
Fitch AA- N/A
Standard & Poor AA- AA
Comdex Score 94 98
SOURCE Banner State Farm
Total Assets $7.3 Billion $160.732 billion
Life Insurance in Force $658 Billion $901.7 billion
Banner State 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
Banner State 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
Banner State Farm
Disability premium waiverN/A
Conversion to permanent
Flexible payment schedule
Accelerated benefit rider
Term laddering rider
Child Protection Rider
Jonathan Holloway
January 1, 1970
Jonathan is a licensed life insurance agent at NoExam.com that writes about insurance, personal finance, lifestyle, and sports. See our pages on term life insurance, life insurance rates and life insurance companies for more.
Disclaimer: We make every attempt to make sure our information is up to date, but since things change often it is best to double check the data. This review is an opinion. Clicking on links may result in NoExam.com being compensated.