Banner Life BeyondTerm Details

You are able to find all Banner Life related information in HQ using the following link- https://b2b-hq.quility.com/page/banner-life.

There is also a full breakdown of the Banner Life BeyondTerm product only in Navigator with all needed resources, including underwriting details- https://www.bannerlife.com/beyondterm/specs. At the top of the Banner Life HQ page, there is the 'Banner Life Agent Portal' link.

The Navigator system will only read a writing number for Banner Life (BeyondTerm) if it is listed under the carrier 'Banner Life (BeyondTerm)' label in HQ. The Banner Life writing code starting with 'ASU' is for the BeyondTerm product.

If an agent is appointed for both BeyondTerm by Banner Life and Banner Life’s traditional products, OPTerm and Life Step UL, they will receive two agent writing codes. The writing codes starting with 'ASU' will apply to the BeyondTerm product. The writing codes starting with 'X8R' will apply to OPTerm and Life Step UL. That writing number needs to be entered under the carrier 'Banner Life Insurance Company' or 'Banner Life (OPTerm)' in HQ.

'Banner Life (BeyondTerm)' = BeyondTerm product

'Banner Life Insurance Company' or 'Banner Life (OPTerm)'= Other non-Navigator products

All non-resident state appointments are completed by the carrier “JIT” (Just in Time)

BeyondTerm Benefits:

BeyondTerm term life insurance with living benefits offered by Banner Life Insurance Company (Banner Life), includes several accelerated benefits coverage enhancements to help provide bright possibilities in life, all while helping provide protection for your family when they need it most. Let’s take a closer look at the five benefits included in your term life insurance policy.

Chronic Illness Coverage - Available when you are unable to perform 2 of 6 activities of daily living (ADLs) for 90 consecutive days or experience severe cognitive impairment, as certified by a physician.

Death benefit can be accelerated multiple times until benefits are exhausted. The coverage offers a minimum payment of $10K per year , up to the lesser of the IRS per diem limit per year or the maximum acceleration death benefit limit.

Critical Illness Coverage - Valuable coverage designed to respond when you experience one of 13** significant medical illnesses such as invasive cancer, stroke, severe heart attack, organ failure and others, as certified by a physician.

The coverage offers a minimum payment of $10K up to the maximum acceleration death benefit limit.

Terminal Illness Coverage - Available when an illness shortens your life expectancy to 12 months or less, as certified by a physician.

The coverage offers a minimum payment of $10K up to the maximum acceleration death benefit limit.

Convertible Coverage - Allows you to convert your BeyondTerm term life insurance policy for a universal life insurance policy, issued with no additional underwriting, offering guaranteed coverage up to age 121, as long as premiums are paid in full.

While it’s not designed to build cash value, it does have a cash value component with a guaranteed interest rate.

Charitable Giving Benefit - Your legacy can live on for a cause near and dear to your heart through a charitable giving benefit. This benefit donates to the policy owner’s charity of choice upon the insured’s death during the level term period. The benefit amount is set to 0.5% of the policy death benefit, which is paid on top of the death benefit as a donation on behalf of the policy owner.

How it works: The designated beneficiary of the benefit must be an institution accredited as a charity with the IRS under section 501(c)(3). The benefit is provided at no additional cost to the policyholder. The benefit is not available in NY and SC.

• The minimum death benefit for the BeyondTerm product is currently $100,000.

• The maximum death benefit for the BeyondTerm product depends on the individual’s age. Please refer to the product specs seen below.