Decreasing Life Insurance - Making Changes FAQs

Below you'll find a list of frequently asked questions relating to our Decreasing Life Insurance. Before you apply, you should also read the  PDF file: Life Insurance Policy Summary PDF size: 131KB   and  PDF file: Policy Booklet PDF PDF size: 2.2MB .

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Can I add Critical Illness Cover?

You can add Critical Illness Cover for an extra cost when taking out Life Insurance or Decreasing Life Insurance. It could pay out a cash sum if you’re diagnosed with or undergo a medical procedure for one of the specified critical illnesses that we cover, and you survive for 14 days from diagnosis. Some types of cancer are not included and to make a claim for some illnesses, you need to have permanent symptoms.

Find out more

Am I eligible to apply?

You must be a UK resident and 18 years of age at the time of applying. Upper age limits apply. Please read our Policy Summary PDF for more details.

Can I put my policy in Trust?

Yes, our Decreasing Life Insurance policy can be placed in trust. Putting your plan in trust can help protect your beneficiaries from inheritance tax and ensures the money gets to the right people quickly. 

Use our Online Trust Hub to help you choose the right type of Trust for you. You can even enter your details online so the Trust form is ready to be printed and sent back to us.

Will I be eligible for the free gift?

If you buy Life Insurance or Decreasing Life Insurance with or without Critical Illness Cover directly from Legal & General, you could be eligible to receive a free gift. Terms and conditions apply.

Can I make any changes to my policy?

We recognise that sometimes your protection needs change so you can request any of the following changes to the policy:

  • extend or reduce the period of cover
  • increase or decrease the amount of cover
  • remove a life from a joint policy
  • change the frequency of your premium between annually and monthly

We also offer 'Joint life policy separation'. This allows a joint policy to be split into two new single policies if a couple divorce, dissolve their registered civil partnership or change a joint mortgage into one name or take out a new mortgage in one name. Request must be made within 6 months of the event being finalised.

These changes could affect the premiums that you pay and we would have to assess any change based on your circumstances at the time.

Terms and conditions apply. Please read the  Policy Booklet PDF for full details.

Can I cancel my policy if I no longer need it?

After applying for cover you will receive a 30 day cancellation notice which you must send back if you decide not to continue with the policy.

If you cancel within 30 days we will return any premiums paid. If you cancel after 30 days you won't get anything back.

Please remember that life cover policies are not savings or investment products and have no cash value unless a valid claim is made.