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Legal & General America is revolutionizing the term insurance marketplace as the only carrier to offer level premium coverage for up to 40 years!

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Product Overview

Product Specs

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Consumers are looking for more affordable options when it comes to protecting their financial futures through to retirement. Current market products don’t always meet customers’ needs and the realities they face:

  • Americans are living and working longer
  • Many still have debt beyond age 65
  • Coverage in later years can be costly
  • Options are limited for budget-conscious buyers

OPTerm 35 and 40 are available for new sales in all states except New York.

Clients can still choose to ladder their coverage for the longer term with 10, 15 or 20-year Term Riders. The Child Rider will also be available for OPTerm 35 and 40. 

Issue Ages
Banner OPTerm 35
20 – 50 all non-tobacco classes
20 – 45 all tobacco classes

Banner OPTerm 40
20 – 45 all non-tobacco classes
20 – 40 all tobacco classes

New OPTerm Policy Form
The Banner OPTerm policy forms, ICC12OPTN and state variations will be replaced with a new form ICC18-OPTC with state variations. Applications* submitted on November 27, 2018 and later will be issued with the new policy form. The OPTerm policy form was updated in an effort to clarify the language in several provisions including but not limited to the premium change after the level term period and face amount decrease provisions. The new form is applied to all OPTerm plans

William Penn will continue to use the current OPTerm policy form OPTN-NY.

*Banner only