We are excited to announce some important enhancements to our financial underwriting guidelines. These updates are designed to simplify the underwriting process and provide clearer guidelines, enhancing our services to provide you and your clients with the best possible experience.

Financial underwriting guide enhancements 

Updated third-party financial requirement

We’ll now only require third-party financials if the total life insurance coverage (in force and applied for) through Banner Life Insurance Company and William Penn Life Insurance Company of New York is $5 million or more for business coverage and $10 million or more for personal coverage.

• Please note: Total life insurance coverage with all carriers must be financially justified and, at the discretion of the underwriter, additional financial information may be requested.

Reduced business loan repayment term
We have reduced the loan repayment term requirements from a minimum of 10 years to a minimum of 7 years.

Expanded key person multipliers
Our key person multipliers now allow the opportunity to consider coverage amounts beyond our standard multipliers.

These enhancements are part of our ongoing efforts to improve our underwriting processes and better serve you, your agents and your clients. We look forward to further strengthening our partnership to support your success.

Let's keep achieving greatness, together.

Legal & General America life insurance products are underwritten and issued by Banner Life Insurance Company, Urbana, MD, and William Penn Life Insurance Company of New York, Valley Stream, NY. Banner products are distributed in 49 states and in DC. William Penn products are available exclusively in New York; Banner Life is not authorized as an insurer and does not do business in New York. The Legal & General America companies are part of the worldwide Legal & General Group. CN10292024-1