As the name implies, term life insurance provides protection for a specific period of time and generally pays a benefit only if you die during the "term." Term periods typically range from one year to 30 years, with 20 years being the most common term.

Banner Life Insurance Company’s term products:

OPTerm 10®
Is renewable and convertible term life insurance to age 95 with a guaranteed level premium for 10 years. Premiums increase annually in years 11 and later. The policy owner can apply for a new 10-year level premium by submitting evidence of insurability.

OPTerm15®
Is renewable and convertible term life insurance to age 95 with a guaranteed level premium for 15 years. Premiums increase annually in years 16 and later. The policy owner can apply for a new 15-year level premium by submitting evidence of insurability.

OPTerm 20®
Is renewable and convertible term life insurance to age 95 with a guaranteed level premium for 20 years. Premiums increase annually in years 21 and later. The policy owner can apply for a new 20-year level premium by submitting evidence of insurability.

OPTerm 30®
Is renewable and convertible term life insurance to age 95 with a guaranteed level premium for 30 years. Premiums increase annually in years 31 and later. The policy owner can apply for a new 30-year level premium by submitting evidence of insurability.

Life Value Term 20™
Is a term life insurance policy with a level death benefit and coverage to age 95. Premiums increase annually and are guaranteed. Life Value Term 20 allows one to purchase the coverage needed today at an affordable price.  To learn more about Life Value Term 20, click here.

Life Value Term 30™
Is a term life insurance policy with a level death benefit and coverage to age 95. Premiums increase annually and are guaranteed. Life Value Term 30 allows one to purchase the coverage needed today at an affordable price.  To learn more about Life Value Term 30, click here.