OPTerm

OPTerm is a term life insurance plan from Banner Life Insurance (Legal & General America), available to residents of United States. Sum insured ranges from $100K to $10M, eligible ages 20 to 75, and the policy is convertible to permanent. Below is our take on how it compares to other term life plans in our database — what it does well, where it lags, and the kind of policyholder it actually fits.

Annual premium starts at $15, against a category median of $15 across the 9 comparable term life plans we track in this country. That places OPTerm in the lower-mid range on price, and the bottom quintile on coverage ceiling (maximum sum insured $10M versus a peer median of $10M). On the value spectrum it reads as priced near the category median.

Coverage breadth is in line with what most term plans offer: 4 core inclusions, 4 highlighted features, and 3 optional riders. Notable features called out by Banner Life Insurance (Legal & General America) include A+ AM Best rating, 40-year term available, and No-exam option up to $1M. On the rider side, OPTerm can be extended with Accidental Death, Child Term, and Waiver of Premium — each adding to the base premium but also widening what the policy will pay out for.

Term life pricing is most sensitive to age, smoker status, and policy term, so the headline premium is illustrative only. OPTerm accepts applicants aged 20–75, which sets the practical ceiling on policy term — for someone applying at 20, the longest possible cover runs through age 75. Whether the rate you get on quote will land near the illustrative minimum depends entirely on your underwriting bucket; non-smokers in the youngest cohort typically pay close to the floor, smokers and older applicants pay materially more. Banner Life Insurance (Legal & General America)'s published claim settlement record is the metric that actually matters for term — the policy is worthless if claims are denied at maturity, and the difference between a 95% and 99% settlement ratio is the difference between routine claims paid and routine claims fought.

Where OPTerm explicitly will not pay: Suicide within 2 years and Material misrepresentation. These are not unusual exclusions for a term life plan, but they are the boundary of the contract — anything outside that list is in scope, anything inside is not. Read the full exclusions list before signing; every plan we have ever audited has at least one exclusion the buyer did not realise was there.

Best fit for: buyers prioritising lowest annual outlay. Skip if: you need coverage above the plan's maximum sum insured. As with any insurance decision, get a quote from Banner Life Insurance (Legal & General America) directly to confirm the rate that actually applies to your profile — listed prices are illustrative.