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Banner Life (Legal & General) vs AIG: Life Insurance Comparison

An in-depth comparison to help you choose the right life insurance carrier.

At a Glance

Feature Banner Life (Legal & General) AIG
Financial Strength A+ (AM Best) A (AM Best)
Term Rates Among the lowest Very competitive
No-Exam Option Limited Up to $1M
Product Focus Term only Full range
Conversion Options Good Limited
Issue Age Range 18-75 18-80
Coverage Range $100,000 - $10,000,000 $25,000 - $10,000,000
Premium Range $10 - $350/mo $12 - $400/mo

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Banner Life (Legal & General) Overview

AM Best Rating: A+ | Founded: 1981 | Headquarters: Frederick, MD

Coverage: $100,000 - $10,000,000 | Premiums: $10 - $350/mo

Pros

  • Among the lowest term rates
  • Fast underwriting
  • Owned by Legal & General Group
  • Good conversion options

Cons

  • Less brand recognition
  • Limited product range (term only)
  • No permanent life products

Best For: Those seeking the absolute lowest term life insurance premiums.

AIG Overview

AM Best Rating: A | Founded: 1919 | Headquarters: New York, NY

Coverage: $25,000 - $10,000,000 | Premiums: $12 - $400/mo

Pros

  • Competitive term rates
  • No-exam up to $1M
  • Broad product range
  • Global brand

Cons

  • Past financial concerns
  • Complex applications for large amounts

Best For: Those wanting competitive term rates with no-exam convenience.

Our Verdict

Banner Life often has the lowest term premiums in the market. AIG competes well and adds the convenience of no-exam coverage up to $1 million.

Get Your Free Life Insurance Quote

Compare rates from top-rated life insurance carriers.

No medical exam required Coverage in as little as 24 hours Rates from $20/month