We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Manage Cookies
Resources for Businesses My BBB
Share
Business Profile

Insurance Companies

Banner Life Insurance Company

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Insurance Companies.

Complaints

This profile includes complaints for Banner Life Insurance Company's headquarters and its corporate-owned locations. To view all corporate locations, see

Find a Location

Banner Life Insurance Company has 2 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Please enter a valid location.

    Customer Complaints Summary

    • 16 total complaints in the last 3 years.
    • 5 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:05/12/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      This company has been withdrawing $91.06 from my bank account without permission of the bank account holder since May 13th 2021. They have a total of 1821.60 that I am currently aware of, I have no account with this company therefore I hold no responsibility. I have placed investigations from my bank company against these withdraws. I would like to hold Banner Life Prime accountable for illegally charging me on a month to month bases for an account that does not belong to me. I should be credited immediately, the reason have not been able to stop this sooner is due to this personal account being a secondary savings account for my attached business account with BMO. I did not realize until I did a thorough review as to why the account was being depleted.

      Dates of withdraws
      May 13th 2021 $91.06
      June 12 2021 $91.06
      July 11 2021 $91.06
      Aug.12 2021 $91.06
      Sept. 12 2021 $91.06
      October 11 2021 $91.06
      November 12 2021 $91.06
      Dec. 12 2021 $91.06

      Jan. 11 2022 $91.06
      Feb. 12 2022 $91.06
      Mar.11 2022 $91.06
      April. 12 2022 $91.06
      May 13 2022 91.06
      June 12 2022 $91.06
      July 11 20222 $91.06
      Aug. 11 2022 $91.06
      Sep. 12 2022 $91.06
      Oct.11 2022 $91.06
      Nov. 14 2022 $91.06
      Dec.13 2022 $91.06
      Jan.17 2022 $91.06

      Business Response

      Date: 05/23/2023

      Attached for your review is Banner Life's completed response to this file.  

    • Initial Complaint

      Date:04/16/2023

      Type:Customer Service Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have purchased a life insurance policy. This is my second policy with them. Ever since purchasing the 2nd policy I have been unable to log in to the online portal. It keeps giving me an error message saying that my account is being reloaded. I’ve had this issue for 4 weeks and have contacted customer service multiple times with no resolution.

      I would like to be contacted by someone who can actually solve this issue for me and no longer be stuck speaking to entry level customer service associates who do nothing but escalate and then don’t follow up with me,

      Business Response

      Date: 04/19/2023

      Dear BBB of Greater
      Maryland,

      We are in receipt of
      your complaint notification dated 04/17/2023 regarding case number *********  

      Thank you for giving
      us the opportunity to review this matter for Mr. *****.  We have reviewed the file and have been
      advised by Mr. ***** that he now has access to both his policies via his online
      registration.  

    • Initial Complaint

      Date:04/08/2023

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      In August 2005, I was diagnosed with Congestive Heart Failure due to pregnancy. As of June 2006, I was completely recovered with no heart damage from this. I signed up for life insurance as of May, 2021 with Banner Life. All premiums have been paid on time. On my application I did not disclose the previous pregnancy related heart issue as it was over the 10 year **** and was an isolated incident which I had been fully recovered from for over 15 years. Banner Life is cancelling my life insurance policy even though I sent medical records from 2005 and 2006 which included my echocardiogram and cardiologist notes that show I was completely recovered and discharged from their care. Banner Life is still going to cancel my life insurance policy effective immediately.

      Business Response

      Date: 04/13/2023

      Please note our new contact person: 

      **** ***** AVP, Risk and Compliance, Phone: ************

       

    • Initial Complaint

      Date:02/05/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I received a letter in the mail from Legal & General stating my previous employer sold my 401k plan to them. I requested to remove my money and they refused. The agent stated my previous employer mailed a letter. I never received a letter giving me any options because I have I wouldn’t have chosen them as a provider. The agent even proceeded to refuse transfer “my funds” to a rollover IRA. The U.S. Supreme Court held that an employee could sue a company for investment losses which the employee claimed were caused by the company failure to make requested changes to the investments in his 401(k) account.

      Business Response

      Date: 03/02/2023

      Attached for your review is our completed response. 

    • Initial Complaint

      Date:10/09/2022

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Policy number: *********

      I had a term life insurance policy with Banner in which I was covered up until age 63 for a fixed premium of $72/month. The policy came to an end on November of 2021, four months after my 63rd birthday. Even after the policy ended (Nov, 2021), Banner increased my premium to $314.78/month WITHOUT MY CONSENT! and continued to take payment via automatic EFTs . I was totally UNAWARE of the increase. I DARE THEM TO PRODUCE A DOCUMENT WITH MY SIGNATURE ACKNOWLEDGING AND OR AGREEING TO SUCH AN INCREASE ON THE PREMIUM IN ORDER TO MAINTAIN THE POLICY ACTIVE. I became aware of this in-Banner's-favor mistake on 10/08/22 almost one year later. I put all my repeatable bills on automatic monthly payment and I did not notice the increase until I received a letter from Legal and General America (Banner Life) informing me that there would be an increase in my premium to the amount of $555.63. I WENT THROUGHT THE ROOF! I EXPECT A FULL REIMBURSMENT FOR THE LAST 11 MONTHS OF SHADY-AT-BEST PAID PREMIUMS TO BANNER LIFE FOR THE AMOUNT OF $****. I WAS NOT NOTIFIED OF ANY INCREASE. I WOULD'VE ENDED THE POLICY INMEDIATELY, WHICH HAD ALREADY ENDED ACCORDING TO THEM. IF THEY SENT ME A LETTER ADVISING ME OF THE INCREASE, IT SHOULD'VE BEEN CERTIFIED. THE USPS STINKS AT BEST I COULD USE BETTER WORDS TO DESCRIBE THE USPS. IF YOU ADD COVID-19!, COVID-19!, COVID-19!, COVID-19!, COVID-19!, COVID-19!, COVID-19!, to the mix the more reason a client's correspondence should be secured.

      Business Response

      Date: 10/27/2022

      Business Response /* (1000, 5, 2022/10/13) */
      Thank you for giving us the opportunity to review this matter for Mr. *********. We have responded directly to the consumer.

    Banner Life Insurance Company is NOT a BBB Accredited Business.

    To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.

    Why choose a BBB Accredited Business?

    BBB Business Profiles may not be reproduced for sales or promotional purposes.

    BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

    As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.