Banner Increases Term Rates

Banner Increases Term Rates

OPTerm (Banner Life), PennTerm (William Penn) and Term Rider prices are increasing with applications received September 4, 2012 and later. The transition rules are laid out below:

Compensation

  • Commission rates will remain unchanged.

New Business Submission

  • The new rates will apply to all applications received at the respective home office on or after September 4, 2012.

Pending New Business

  • Applications received at the respective home office by August 31, 2012 will receive the current rates that were effective November 1, 2011. New rates will apply to all applications received on or after September 4, 2012.

AppAssist

  • AppAssist Request for Life Insurance Interviews received at the respective home office by August 31, 2012 will receive the current rates that were effective November 1, 2011.
  • New rates will apply to all Request for Life Insurance Interviews received on or after September 4, 2012.

Marketing Materials

  • An assortment of marketing materials will be available by August 31, 2012.