Over 50s Life Insurance

Provided by Legal & General
£85 worth of coupons to spend instore*

Get a quote

Get a paper application

Overview

Over 50s cover

  • Cover from £5 a month - depending on your age
  • £85 to spend instore if you purchase an over 50's policy direct with Sainsbury's Bank by 26th September 2016.* Offer only available to customers who take out a new Sainsbury's Life Insurance policy. £40 worth of coupons will be issued 6 months after the policy start date, with the remaining £45 issued after 10 months. Please see below for full terms and conditions.
  • Plus - double Nectar points at Sainsbury's for 2 years†

Get added peace of mind with an Over 50s Life Insurance plan from Sainsbury's Bank. The plans, provided by Legal & General, provide cover for the whole of your life and pay out a cash sum on your death. This could be used to help contribute towards funeral expenses, any outstanding bills or left as a small gift for your loved ones.

Choose from two Over 50s Life Insurance plans

  • Fixed Plan
  • Increasing Plan

For more details on the Fixed Life Insurance Plan and the Increasing Life Insurance Plan, please view the tabs above.

Benefits of the plans

  • Guaranteed acceptance - if you're aged 50 to 80 and a UK resident for at least 183 days per year
  • No medical - or health assessment
  • Choice - choose the level of cover that suits you – view our rate table, (PDF 211KB)
  • Cash sum – paid out after one year if you die, regardless of the cause of death
  • From your 90th birthday – you will stop paying premiums but enjoy cover for the rest of your life

Things you need to know

Fixed and Increasing Plans

  • A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned
  • Depending on how long you live, the total premiums paid may be greater than the cash sum payable on death
  • This is not a savings or investment product and has no cash value unless a valid claim is made
  • If you stop paying your premiums before the end of your policy, your cover will end 30 days after your missed premium and you won't get anything back
  • These plans are not designed to meet the full costs of a funeral, and do not guarantee to do so.

Fixed Plan only

  • Inflation will reduce the value of your cash sum in the future
  • Flexibility to reduce your premiums if you’ve had your plan for a year and your circumstances have changed. Minimum premium applies
  • If you choose to reduce your premiums, your cash sum will also be reduced.

Increasing Plan only

  • With the Increasing Plan your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase by one and a half times the change in RPI. RPI may not rise at the same pace as funeral costs
  • If you’re worried you won’t be able to afford the increases in premium, you can decline the increase following your annual review. If you do this the cash sum will remain at the same value from that point, and inflation will reduce its value in the future. You won’t be able to increase your cash sum or premium in future years.

 

Only you can be responsible for ensuring the product meets your needs. Before you apply please make sure you read all the information available including the Policy Summary document.

Please read our privacy statement before applying.

To apply by phone please call 0800 197 3373 or you can download a paper application form below. Lines are open Monday-Friday 8am-8pm and Saturday 9am-5pm. Calls may be monitored and recorded. Calls free from a landline or mobile if calling from the UK.

Offer Terms and Conditions

Fixed Plan

The Over 50s Fixed Life Insurance Plan offers a simple way to plan for the future. It's designed for those who wish to budget, as the monthly premiums are fixed and guaranteed not to increase once the plan starts. The cash sum is also fixed, according to your chosen premium.

Benefits of the Fixed Plan

  • Cover from £5 a month - depending on your age
  • Fixed premiums – so you'll always know how much you're paying
  • Guaranteed acceptance - if you're aged 50 to 80 and a UK resident for at least 183 days per year
  • No medical - or health assessment
  • Cash sum – after one year we'll pay out if you die, regardless of the cause of death
  • After your 90th birthday – you will stop paying premiums but enjoy cover for the rest of your life
  • Flexibility to reduce your premiums - if you’ve had your plan for a year and your circumstances have changed. Minimum premium applies.

Things you need to know

  • A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned
  • Depending how long you live, the total premiums paid may be greater than the cash sum payable on death
  • This is not a savings or investment product and has no cash value unless a valid claim is made
  • If you stop paying premiums before the end of your policy, your cover will end 30 days after your missed premium and you won't get anything back
  • Inflation will reduce the value of your cash sum in the future
  • The Fixed Plan is not designed to meet the full costs of a funeral, and does not guarantee to do so
  • If you choose to reduce your premiums, your cash sum will be reduced.

Only you can be responsible for ensuring the product meets your needs. Before you apply please make sure you read all the information available including the Policy Summary document.

Please read our privacy policy statement before applying.

To apply by phone please call 0800 197 3373. Lines are open Monday-Friday 8am-8pm and Saturday 9am-5pm. Calls may be monitored and recorded. Calls free from a landline or mobile if calling from the UK.

Offer Terms and Conditions

Increasing Plan

The Over 50s Increasing Life Insurance Plan is designed to help protect your cash sum against inflation, your premiums and cash sum are reviewed each year in line with the change in the Retail Prices Index (RPI). RPI measures the changing price of everyday household goods and services, like food and energy bills, it shows how the cost of living rises and is used as a measure of inflation.

Benefits of the Increasing Plan

  • Cover from £5 a month - depending on your age
  • Protection against inflation – your premiums and cash sum are reviewed each year
  • Guaranteed acceptance - if you're aged 50 to 80 and a UK resident for at least 183 days per year
  • No medical - or health assessment
  • Cash sum – after one year we'll pay out if you die, regardless of the cause of death
  • After your 90th birthday – you will stop paying premiums but enjoy cover for the rest of your life

Things you need to know

  • A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned.
  • Depending how long you live, the total premiums paid may be greater than the cash sum payable on death.
  • This is not a savings or investment product and has no cash value unless a valid claim is made.
  • If you stop paying premiums before the end of your policy, your cover will end 30 days after your missed premium and you won't get anything back.
  • With the Increasing Plan your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase by one and a half times the change in RPI. RPI may not rise at the same pace as funeral costs.
  • If you're worried you won't be able to afford the increase in premium, you can decline the increase following your annual review. If you do this the cash sum will remain the same from that point, and inflation will reduce its value in the future. You won't be able to increase your cash sum or premiums in future years.
  • If you choose the Increasing Plan and decline the annual plan review, then inflation will reduce the value of the cash sum in the future.
  • The Increasing Plan is not designed to meet the full costs of a funeral, and does not guarantee to do so.

Only you can be responsible for ensuring the product meets your needs. Before you apply please make sure you read all the information available including the policy summary document (PDF 58KB).

Please read our privacy policy statement before applying.

 

To apply by phone please call 0800 197 3373. Lines are open Monday-Friday 8am-8pm and Saturday 9am-5pm. Calls may be monitored and recorded. Calls free from a landline or mobile if calling from the UK.

Offer Terms and Conditions

Compare

The table below lets you compare the Fixed Plan and Increasing Plan, so you can decide which one suits your needs.

Product featureFixed
Plan
Increasing
Plan
Fixed monthly premiumstickcross
Fixed cash sum - if you die after one year of the plan startingtickcross
Monthly premiums reviewed each yearcrosstick
Cash sum reviewed each year in line with the change in RPIcrosstick
Cash sum paid on death to your estate - unless assigned or placed in trustticktick
Inflation will reduce the buying power of the cash sumtickcross

These plans are not designed to meet the full costs of a funeral, and do not guarantee to do so.

Only you can be responsible for ensuring the product meets your needs. Before you apply please make sure you read all the information available including the Policy Summary document

Please read our privacy statement before applying.

To apply by phone please call 0800 197 3373 or you can download a paper application form below. Lines are open Monday-Friday 8am-8pm and Saturday 9am-5pm. Calls may monitored and recorded. Calls free from a landline or mobile when calling from the UK.

Offer Terms and Conditions

Important info

Things you need to know

Fixed and Increasing plans

  • A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned.
  • Depending on how long you live, the total premiums paid may be greater than the cash lump sum payable on death.
  • After your 90th birthday you will stop paying premiums but enjoy cover for the rest of your life. With the Increasing Plan your cash sum continues to be reviewed each year in line with change in the RPI.
  • If you stop paying your premiums before the end of your policy, your cover will end 30 days after your missed premium and you won't get anything back.
  • Please remember this is not a savings or investment product and has no cash value unless a valid claim is made.
  • You can take out more than one plan as long as the total of your cash sum for all plans added together is not greater than £25,000. This includes any existing Legal & General Over 50s Plan you may have.
  • These plans are not designed to meet the full costs of a funeral, and do not guarantee to do so.

 Increasing Plan only

  • With the Increasing Plan your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase by the change in RPI multiplied by 1.5. To keep pace with inflation you need to make sure you can meet the premium increases over the years. RPI may not keep up with future rises in funeral costs.
  • RPI is used as a measure of inflation. It measures the changing prices of everyday household goods and services like food and energy bills, and shows how inflation rises over the years.
  • If you’re worried you won’t be able to afford the increases in future, you can decline the increase following your annual review. If you do this the cash sum will remain at the same value from that point, and inflation will reduce its value in the future. You won’t be able to increase your cash sum or premium in future years.

Fixed Plan only

  • Inflation will reduce the buying power of your cash sum in the future.
  • Flexibility to reduce your premiums if you’ve had your plan for a year and your circumstances have changed. Minimum premium applies.
  • If you choose to reduce your premiums, your cash sum will also be reduced.

Only you can be responsible for ensuring the product meets your needs. Before you apply please make sure you read all the information available including the policy summary document (PDF 290KB)

Please read our privacy policy statement before applying.

To apply by phone please call 0800 197 3373. Lines are open Monday-Friday 8am-8pm and Saturday 9am-5pm. Calls may be monitored and recorded. Calls free from a landline or mobile when calling from the UK.

Sainsbury’s Over 50s Life Insurance is provided by Legal & General Assurance Society Limited, Registered Office: One Coleman Street, London, EC2R 5AA (registered in England and Wales no. 166055). Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Sainsbury's Bank plc, Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no. 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register no. 184514). Sainsbury's Supermarkets Ltd is an appointed representative of Sainsbury's Bank plc.


 

Offer Terms and Conditions

*£85 worth of coupons to spend instore:
£85 coupon offer is an introductory offer available to new customers who purchase a new Sainsbury's Over 50s Life Insurance policy by 26th September 2016. Coupons will be supplied in two instalments. The first £40 will be posted to the policyholder's address 6 months after the policy start date (2 x £20 coupons). The remaining £45 will be posted 10 months after the policy start date (1 x £25 coupon + 1 x £20 coupon). Please allow time for delivery of coupons. You will not receive any coupons if you cancel your policy or stop paying premiums before the coupons are delivered. Duplicate coupons will not be reissued if lost or damaged after receipt. Only one set of coupons issued per policy purchase. Offer limited to two new policies purchased per household in any 12 month period. This offer is available if you apply online or on the phone. Legal & General reserves the right to cancel any policies should they suspect fraud or misconduct. Coupons can only be used in store at point of purchase as per terms specified on the coupons. Coupons cannot be used online, cannot be exchanged for cash and are not transferable. Sainsbury's Bank reserves the right to withdraw or amend this offer at any time.

†Double Nectar Points 1. Offer only available to customers who take out a new Sainsbury's Life Insurance policy (with or without Critical Illness Cover). 2. You must continue to pay policy premiums for 2 years to continue collecting double points. 3. If the policy is cancelled, double points will cease from the cancellation date. 4. Only the first Life Insurance policy registered against each Nectar account will qualify for double points. You may qualify for additional points by taking out other qualifying products. 5. Base points on qualifying spend in Sainsbury's will be collected as normal. A bonus equal to the total of these points each calendar month (subject to a monthly maximum of 1,250 points) will be credited to the Nectar account by the 10th of the following month, for up to 24 months from the policy cover start date. Excludes all Bonus point offers and points from Sainsbury's Energy, Telecoms, Digital, Entertainment, eBooks, Bank and all other Sainsbury's services. 6. The monthly bonus will only be calculated on, and credited to the Nectar card nominated at the time of application. The nominated card must also be used at the time of each Sainsbury's purchase and points will not be allocated retrospectively. 7. Nectar points are awarded to you by Sainsbury's Supermarkets Ltd. The Nectar loyalty programme is operated independently of Sainsbury's Bank by Aimia Coalition Loyalty UK Ltd; and the collection and use of points is governed by the Nectar Collector Rules, set out in the registration pack and available at nectar.com 8. Sainsbury's Bank reserves the right to alter, cancel or withdraw the offer without prior notice.

We are using cookies on this website to enhance your browsing experience. You can read more information on our cookies by clicking the "Find out more about cookies" button. By continuing your journey on this site you consent to the continued use of cookies.

Find out more about cookies

Continue