Ohio National Life Term: You Had No Idea a Mutual Could Write Term this Cheap…Did You?

Ohio National Life Term

Ohio National Life, the 100 some odd year old life insurance company from Cincinnati known for having a good…well…almost everything.

Most of the time, we can segment companies by being rockstars with certain products.  For example, we know Berkshire Life and the Standard for their industry leading and extremely benefit rich disability insurance contracts.

We regard Banner Life and Genworth for their fiercely cheap term insurance rates, we know of Jackson National Life for their amazing annuity products.  Ohio National tends to be a different story.

Keep ReadingOhio National Life Term: You Had No Idea a Mutual Could Write Term this Cheap…Did You?

Cheap Term Insurance? Should we Talk about Banner Life Insurance?

Cheap Term Insurance

If you were to spread sheet quotes from life insurance companies (or have your agent do it) near the top of the list for low price premiums would likely fall a tiny insurance company owned by a massively huge British multi-national, and this tiny life insurer is typically well known for its competitive term rates; this company is the somewhat unique Banner Life Insurance Company.

Banner is a well known competitor in the term quoting game, where it competes quite well with the likes of Genworth, Ohio National, Cincinnati Life, and that other life insurance company with Massachusetts in it's name: Savings Bank Life (SBLI).  But even more enjoyable to Banner is that it's one of the darlings for the term quoting world due to is wide availability to pretty much all of the large life insurance brokerage conglomerates.

You see, unlike Ohio National and Cincinnati Life, Banner–like Genworth and SBLI–focuses its marketing and distribution strategy through large brokerage channels, rather than through smaller, more localized agencies.

In fact, if you run out to Google and search for Banner, you'll find Select Quote–a huge player in the transactional term sales–ranks in Google's top 10 results for Banner Life Insurance as a keyword search term, and we're betting, they really like that.  Legal & General, the large multi-national that owns Banner, is also a strong competitor for cheap term rates in the state of NY, where it's NY version of Banner: William Penn does business.

So is Banner life insurance reviews a great term choice?  Let's find out.

Keep ReadingCheap Term Insurance? Should we Talk about Banner Life Insurance?

What Is Term Life Insurance & How Does It Work?

The Basics of Life Insurance Part I

The simplest form of life insurance is called Term Insurance.  Term takes its name from the notion that it is purchased simply for a term (period of time), after which is it no longer renewable.  Not that long ago the general rule was term products were renewable to age 75 and that was it.  More recently this has been reviewed and some companies are offering term products that can be renewed past this date.  This is also governed by state insurance law so you should check on this for your specific state.  

Keep ReadingWhat Is Term Life Insurance & How Does It Work?