Life Insurance FAQs
Below are a list of frequently asked questions relating to our Life Insurance Policies. You should also read the PDF file: Life Insurance Policy Summary PDF size: 131KB and PDF file: Policy Booklet PDF PDF size: 2.2MB before you apply.
What is life insurance and how does it work?
Life insurance helps to protect your loved ones financially in the event of your death.
Your policy is designed to pay out your chosen amount of cover if you die during the length of the policy. It could be used to help pay the mortgage or help protect the family's lifestyle and everyday living expenses. Life insurance is also known as life assurance or level term assurance.
You choose the amount of cover you need and the length of time you want to be insured for.
Life insurance policies have no cash value unless a valid claim is made.
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.
Am I eligible for the free gift if I apply online?
If you take out a policy online with Legal & General or provide a promotional code at the time of applying you could be eligible to receive a free gift. Terms and conditions apply.
How much will it cost?
Premiums start from just £6 per month, but your individual premium will depend on your own needs and circumstances.
How much Life Insurance do I need?
It depends on your individual circumstances. You may want to think about leaving a lump sum for your dependants or help clear an outstanding mortgage if you die (during your policy term). If you'd like more help, you might find our life insurance calculator useful. Alternatively, you could speak to your financial adviser if you have one.
Can I put my policy in Trust?
Yes, our 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.
What if I need to make a change to my policy?
You can make changes to your policy, please call us so we can consider your request.
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 and is not available if either of the lives insured has had a valid claim for either carcinoma in situ of the breast or low grade prostate cancer.
The changes could affect the premiums that you pay and we would have to asses any change request based on your circumstances at the time.
Terms and conditions apply. Please read the Policy Booklet PDF for full details.
What's the difference between life insurance and Over 50s life insurance plans?
Life Insurance is designed to pay out a cash sum if you die during your chosen period of cover, which is a maximum of 50 years, but the policy must end before your 90th birthday. When assessing your Life Insurance application, we'll ask you questions about your medical history, occupation and lifestyle.
Over 50s Life Insurance is designed for people aged 50 to 80 who want a fixed cash sum to give to their loved ones when they die. It's for people who want guaranteed acceptance with a simple application process and who don't want to answer medical or lifestyle questions. You must be a UK resident to apply.
There are other important factors that you need to be aware of on both types of plan, so please read all the information available.
What's the difference between Terminal Illness Cover and Critical Illness Cover?
Terminal Illness Cover is included on our policies at no extra cost (minimum term of two years). It could pay out your chosen amount of cover if you're diagnosed with a terminal illness and have a life expectancy of 12 months or less, rather than on death. Providing financial support at a time when it could be needed the most.
Critical Illness Cover is available to add to your Life Insurance or Decreasing Life Insurance at an additional cost. It's designed to pay out your chosen amount of cover if you're diagnosed with or undergo a medical procedure for one of our specified critical illnesses during the length of your policy and you survive for 14 days from diagnosis.
Read more about Terminal Illness Cover
Read more about Critical Illness Cover
Can I add Critical Illness Cover?
Yes, you can add Critical Illness Cover at an additional cost when you take out Life Insurance or Decreasing Life Insurance. Eligibility criteria apply.