Legal and General Life Insurance

About Legal and General Life Insurance

Legal and General Life Insurance is considered the UK’s No. 1 life insurance provider, covering more families than any other provider, per new Individual life insurance sales in 2023, Term & Health Watch report 2024, Swiss Re. The company also offers:

• Premiums start at just £5 and remain constant throughout the policy term

• Wellbeing Support is a service designed to assist individuals in managing the stresses of daily life. Whether you require a comforting conversation, information, or guidance during tough times, the company’s team provides support and assistance from day 1.

• Care Concierge is a confidential helpline for navigating later-life care. Their expert team provides impartial advice to help you find the right care option for you or your loved ones.

Note: Check all the best term insurance plan in India.

Benefits of Legal and General Life Insurance

The benefits of buying Legal and General life insurance plans are:

• Effortless Protection:

  Receive a free legalandgeneral life insurance quote online within 2 minutes and secure coverage in just 20.

• Reliable Assistance:

  In 2023 alone, the company disbursed £519 million in life claims, aiding over 13,000 individuals and their families.

• Wellbeing Support:

  Partnering with RedArc Assured Limited, our Wellbeing Support service provides phone-based assistance to nurture your mental health and overall well-being.

How Do Legal and General Life Insurance Work?

Legalandgeneral life insurance provides financial protection for your loved ones if you pass away. You select the coverage amount, the policy duration, and whether it's for you alone or jointly with your partner. You pay regular premiums, and your beneficiaries benefit if you suffer an unfortunate death during the policy term. This payout can help them cover the outstanding mortgage, monthly bills, and other essential expenses, ensuring your family's financial stability. You can also add Critical Illness Cover for an extra cost, which provides a payout if you're diagnosed with a serious illness. 

Legal and General Life Insurance - Cover Details

1. Benefits

   • The policy covers your against death and diagnosis of terminal illness (life expectancy of less than 12 months) during the policy term

   • You can choose the cover tenure as per your individual needs

   • Premiums remain constant unless changes are made to the policy details

   • Additional benefits like Free life cover and Accidental death benefits are included at no extra cost. T&Cs apply

   • Optional Critical illness benefits can be added to the policy at an extra cost while taking out the life insurance policy

2. Things to Know

   • This is not a savings or investment product and thus offers no cash value component unless stated otherwise.

   • If premiums are not paid on the due date, the life insurance policy will be canceled, and no benefit will be paid.

   • The policy does not cover you in the first year of the policy, where the insurer thinks the death occurred due to suicide or self-inflicted injury.

   • The policy does not cover terminal illness unless it meets the definition laid by the insurer.

   • If you purchased your life insurance to cover your mortgage, the policy might not pay off the entire loan amount unless the cover amount is adjusted to match any new mortgage arrangements that may be made. In case of decreasing life insurance, you should check that the interest rate on the loan is not greater than the rate applied to the policy.

How to Get Legal and General Life Insurance Quotes?

You can get your profile's applicable life insurance quotes in just 2 minutes. All you need to do is:

• Fill in your personal details like DOB, contact details, and smoking status

• Cover details as per your requirements, like the type of life insurance, cover amount, and policy term

• Select if you want a single or joint life cover

What Type of Life Insurance Should I Get From Legal and General?

Here are the two types of life insurance plans that you can get from legalandgeneral life insurance:

1. Life Insurance 

   Life insurance, often called level term life insurance, ensures that the coverage amount and the premium remain constant for the entire policy duration unless changes are made. If you pass away during the policy term, your family receives the death benefit. This payout can help your family cover financial needs like paying bills or childcare.

2. Decreasing Life Insurance

   Decreasing life insurance provides coverage that reduces over time, similar to the decline of a repayment mortgage. This type of insurance is typically used to help protect a repayment mortgage. If you pass away during the policy term, your family receives a death benefit to help cover the mortgage, allowing them to stay home without the burden of mortgage payments.

   Underneath these two types of life insurance policies, you can choose the policy to cover you individually or provide a joint life cover for you and your spouse. 

What is the Legal and General Claim Process?

Step 1: Get in Touch

Contact the company to inform them about the death of the life assured.

Step 2: Assessment

The insurer will assess your claim and the relevant documents attached.

Step 3: Benefit Payout

The payout will be made to the nominee’s account on successful verification.

Alternative Ways to Buy Term Life Insurance for NRIs

You can buy term life insurance for NRIs from Indian insurers in the following ways:

Step 1: Visit the term insurance for NRI page on Policybazaar

Step 2: Fill in the required information like name, gender, phone number, email address, and more 

Step 3: Select the right smoking habit, annual income, educational qualifications, and occupation type

Step 4: Choose the most suitable term life policy and proceed to pay

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