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Getting Insured with Legal & General : A Review

With so many different life insurance providers offering you rates, it can be difficult to determine which one is best for you. We at will certainly help you narrow it down, but it always helps to have some inside knowledge of your own. For example, you may not know that Legal & General is not an entirely separate company, but is instead the head company of Banner Life and William Penn.

Legal & General has a long, solid history and a variety of coverage options. Before deciding that this is the company for you, however, it is important to get as much information as possible ahead of time. We offer many company reviews on our site, such as reviews for AICPA Life Insurance and Mutual of Omaha.


Founded in the 1800s, Banner Life was originally called “GELICO” and was part of what is now GEICO, but Legal & General purchased it in 1981. William Penn was then acquired in 1989 as a wholly owned subsidiary of Banner Life. Legal & General has consistently received top ratings from A.M. Best, and these ratings extend to Banner and William Penn.

What Kind of Rates You Can Expect

Life Insurance rates through both William Penn and Banner Life are very competitive. Here is an example:

Let’s say Ted is a 30-year-old nonsmoker looking to get a $250,000 term life policy for a period of 20 years. If Ted lives in New York, William Penn will likely offer him rates between $14 a month (Preferred Plus) and $24 a month (Standard). If Ted lives in any state outside New York, he will get the same rates, however through Banner Life.

The rates listed here are examples only, for the purpose of giving you an idea of what to expect. Your exact rates will vary, especially if you are considered high risk.

Is Legal & General for Me?

The kind of life insurance products from Legal & General that are available to you may also vary depending on your location. For example, the individual life insurance products from William Penn are only sold in New York through independent insurance agents, while Banner Life does not do business there.

Keep in mind that while Legal & General (and subsequently, Banner Life and William Penn) is a competitive company for term life insurance, they may not be the best life insurance company for you. You can compare rates below using our quote tool to find the best life insurance rates.

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Liran Hirschkorn

Liran Hirschkorn is the founder of His mission is to help individuals across the country in finding the best rates on life insurance as well as helping individuals with high risk life insurance.

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