Legal and General America Life Insurance Review

  • 2 min read

Term life insurance may offer some of the best coverage options for the lowest monthly premiums, but not everyone fits into the same risk category. Not every insurer is willing to provide a policy to people who may be considered “substandard” or “high risk” because of their health needs. That’s where Legal and General America can help.

This term life insurer offers term policies in 5-year increments, from 10-30 years. Their policies are renewable and can be converted into other insurance products if needed.

The policies of Legal and General America are designed to provide the best possible peace of mind.

  • There is a “Waiver of Premium” option. This term life benefit will allow for all premiums to be waived if the policy holder suffers a total disability that has continued for at least 6 months without interruption.
  • There are flexible payment schedules. If a monthly payment isn’t the right option for you, options for quarterly, annual, or semi-annual payments are available.
  • There are term riders that can be added. This makes it easier to cover specific financial obligations that a beneficiary may have. Mortgage payoff riders, education riders, and other insurance options can be added to a term life plan.

Legal and General America offers accelerated death riders, children’s riders, and additional options that allow a policy to be specifically tailored to every individual or family. They have a 94 COMDEX Score and very strong to superior financial strength ratings.

This insurer has also committed to certain social responsibilities, from the installation of workstations made from recycled materials to having their headquarters achieving Silver-level LEED certification.

You will also find a learning center with this insurer that can help you find out how much term life insurance you may need, find an agent with whom to speak, or understand the terms that may be in an offered policy.

Insurance policies offered by Legal and General America are issued and underwritten by Banner Life Insurance Company and William Penn Life Insurance Company. Two-year contestability and suicide provisions may apply to the term life policies that are offered. Premiums stay level during the initial term but increase annually afterward.

Each term life policy is subject to a $60 annual fee.

View for more information about Legal and General America Life Insurance.

Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.