Who Is Banner Life Insurance? 
Banner Life Insurance Company is a subsidiary of Legal & General Group Pic -LRB- L&G -RRB- . Banner offers life insurance in every state except New York , but in New York it is called William Penn. . As of today -LRB- 6-5-2015 -RRB- Banner Life Insurance Company is rated A + by AM Best and AA - by S&P . 