About Banner Life and William Penn
Banner Life Insurance Company, headquartered at 3275 Bennett Creek Avenue, Frederick, Maryland, and its New York subsidiary William Penn Life Insurance Company of New York were long known as Legal & General America. Legal & General formed that business in 1981 and renamed the acquired Government Employees Life Insurance Company as Banner Life in 1982. After Legal & General sold the business to Meiji Yasuda Life in 2025, the Banner Life family of companies was created in 2026.
Products
- Term life insurance, sold online and through independent advisors
- Universal life insurance
At year-end 2025 the companies had about 1.6 million US policyholders and about $17 billion in assets.
Where it operates
Banner Life insures people in 49 states and Washington, D.C. William Penn operates only in New York.
Financial strength
As of 2026, the companies are rated A (Excellent) by AM Best, A+ (Strong) by Fitch and A (Strong) by S&P.
Contact
Banner Life customer service: 800-638-8428. William Penn customer service: 800-346-4773. Claims are filed through the online claim center.