Banner Life vs Pacific Life vs Primerica vs State Farm 2024

Rates, ratings and history comparisons 2024

Below we’ll compare four of nation’s largest and most popular term life insurance companies (Banner Life, Pacific Life, Primerica and State Farm) by rates, ratings, term lengths available, cost index and how long the insurer has been in business.

AboutBanner LifePacific LifePrimericaState Farm
Founded1836186819771922
Financial RatingA+ (Superior)A+ (Superior)A+ (Superior)A++ (Superior)
Terms Available 10-40 years10-30 years10-35 years10-30 years
Cost Index$$$$$$$$$

A.M. Best Financial Strength Rating Chart

SecureVulnerable
A++, A+ (Superior)B, B- (Fair)
A, A- (Excellent)C++, C+ (Marginal)
B++, B+ (Good)C, C- (Weak)
D (Poor)
E (Under Regulatory Supervision)
F (In Liquidation)
S (Suspended)
A.M. Best Rating Table 2024

Banner Life vs Pacific Life vs Primerica vs State Farm

Below are the sample rates for a 40-year old male in excellent health, non-smoker for a 20-year level term $100k up to $1.5 million policy.

CoverageBanner LifePacific LifePrimericaState Farm
$100k$10.47$10.56N/A$17.14
$250k$18.24$17.37$45.13$25.44
$500k$29.75$28.42$45.13$40.04
$750k$40.80$40.07$64.13$57.02
$1 million$52.70$49.00$83.13$63.49
$1.5 million$76.92$70.95$121.13$92.19
Banner Life vs Pacific Life vs Primerica vs State Farm rates chart

*Date of birth 5/1/1984. Rates for a 40-year old male on a 20-year-level term at the preferred plus health class. Rates current 5/1/2024

Wrap Up

As you can see above in comparing four of the largest and most popular term life insurance companies in America 2024 (Banner Life vs Pacific Life vs Primerica vs State Farm), the rates vary significantly for all four Superior rated companies. All these companies pay out valid claims in a timely manner.

When shopping for a term life insurance policy we recommend you compare rates from several top companies to ensure you’re getting the lowest rate which will allow you to secure the most coverage to protect your loved ones.

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