What is OPTerm 20 life insurance?

UPDATED: Jul 6, 2010

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UPDATED: Jul 6, 2010Fact Checked

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Asked July 6, 2010

1 Answer


OPTerm is a brand name of Banner Insurance. The company has used that brand to propel them upwards in the industry, earning the company an A+ rating with A.M. Best, one of the leading insurance ratings companies. It is the product name of a series of term life policies, each denoted by a number to indicate the term of the policy.

OPTerm is basically term life insurance with a name. OPTerm 20 indicates a 20 year term life policy with fixed premiums. Other versions include OPTerm 10, 15, and 30 year policies. Fixed rates are an attractive offer, allowing policyholders to lock the current premium rate regardless of future economic changes, for the duration of the policy. Banner's OPTerm 20 life insurance is available nationwide, with the exception of Montana and New York.

Banner Insurance has a somewhat length application, and your premiums will be adjusted according to a series of questions regarding your current state of health, your medical history, and other information. The result is an insurance product that offers fixed rates to a preferred group of policyholders, sharing the benefits through lower costs for everyone involved.

Answered July 6, 2010 by Anonymous

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