Life insurance FAQs
Life insurance, also called term assurance, is a simple way to help financially protect your family in the event of your death. If you die during the term of your life insurance policy, or you’re diagnosed with a terminal illness that you’re eligible to claim for, a lump sum could be paid. Terminal Illness Cover could pay out the full amount of cover when life expectancy is less than 12 months.
Life insurance could pay out a cash sum if you die during your policy term. Your monthly payments and the cash sum won’t change over time (unless you change your policy). This could be used to help pay off an interest only mortgage or to help protect your loved ones financially.
Decreasing life insurance is designed to help protect a repayment mortgage. Your monthly payments will stay the same but the amount you’re covered for – and any potential pay-out – will decrease over the term of your policy, roughly in line with the way a repayment mortgage decreases.
The level of cover you choose is up to you. If you’re not sure how much cover you’ll need then you can use our life insurance calculator to get a better idea.
You may be able to increase your cover without the need for any further medical information on certain life events. This is subject to certain conditions as detailed in the Policy Booklet.
Your premiums are based on a lot of things including your age, occupation, medical history, whether or not you smoke, cover level, length of cover and the type of contract that you choose. For example, the older you are, the higher your premium will be.
Premiums start from £5 a month. Your level of cover will depend on your circumstances and the premium you choose to pay. If you’re interested in taking out life insurance then you can get a quote today.
No – your joint policy will end when one of the two people covered passes away or becomes eligible for terminal illness cover (whichever happens first). At this time a final pay-out is made and no further benefits will be payable. Terminal Illness Cover could pay out the full amount of cover on diagnosis of a terminal illness when life expectancy is less than 12 months.
Life Insurance is designed to pay out a cash sum if you die during your policy term. Your monthly payments and the fixed lump sum won’t change over time (unless you make changes to your policy).
Decreasing Life Insurance is an insurance policy where the amount you’re insured for decreases over time. It’s generally cheaper than life insurance because your monthly premium is fixed but the sum you’re insured for decreases roughly in line with the way a repayment mortgage reduces. Your policy may not completely pay off your outstanding mortgage unless you ensure that your amount of cover is adjusted to match any new mortgage arrangements. For Decreasing Life Insurance you must also check that the interest rate applied to your mortgage does not become higher than the interest rate applied to your policy.
Terminal illness cover is included in your policy at no extra charge. It’s designed to cover you if you are diagnosed as terminally ill during the term of your policy. You’re considered as terminally ill if your hospital consultant and Legal & General's medical officer agree that the illness is expected to lead to death within 12 months. A claim can't be made for terminal illness after your death or if the length of your policy is less than two years.
Sometimes Legal & General will ask for more information before they can make a decision about your application. While they assess this information, they’ll provide you with free accidental death benefit so that you’re covered in the event of accidental death. Some terms and conditions apply, please see the Policy Summary document.
You can apply to change your cover to suit your circumstances by:
- Changing the duration of your policy
- Increasing or decreasing the amount of cover
- Changing between monthly or annual premiums
- Removing a person from a joint policy where cover is no longer required for that person
- Splitting a joint life policy into two single life policies in the event of divorce, dissolution of a civil partnership, or taking out a mortgage in the name of one person on the policy. Terms and conditions apply
A 'joint' life insurance policy cover two lives, on a 'first death' basis. This means the chosen amount of cover is paid out if the first person dies, during the length of the policy, after which the policy would end. A joint life insurance policy only pays out once and would leave the surviving person without any life insurance. If there are two single life policies, if the first one dies, the surviving person still has their own cover. Terms and conditions apply, please refer to the Policy Booklet.
If you’re not sure which type of life insurance policy would suit you best, please speak to a financial advisor.
Critical Illness Cover FAQs
Critical Illness Cover is additional cover that you can add when you take out life cover. It’s designed to help protect you financially in the event if you are diagnosed with or undergo a medical procedure for one of Legal & General's specified critical illnesses during the length of your policy and you survive for 14 days from diagnosis. If you choose to add Critical Illness Cover, Children's Critical Illness Cover is automatically included at no extra cost. Terms and conditions apply.
Critical Illness Cover is an optional extra that you can add to your life insurance policy when you take out cover. Premiums depend on your individual circumstances.
A complete list of the critical illnesses covered is below. Medical terms have been used to describe the conditions and in some cases your insurance will be limited eg some types of cancer aren’t covered.
In most cases, you’ll be covered if your condition results in permanent symptoms or certain types of surgery. For the exact criteria your condition needs to meet for you to make a claim, please read the Guide to Critical Illness Cover.
- Alzheimer’s disease – resulting in permanent symptoms
- Aorta graft surgery – requiring surgical replacement
- Aplastic anaemia – with permanent bone marrow failure
- Bacterial meningitis – resulting in permanent symptoms
- Benign brain tumour – resulting in either surgical removal or permanent symptoms
- Blindness – permanent and irreversible
- Cancer – excluding less advanced cases
- Cardiac arrest – with insertion of a defibrillator
- Cardiomyopathy – of specified severity
- Coma – with associated permanent symptoms
- Coronary artery by-pass grafts – with surgery to divide the breastbone or anterolateral thoracotomy
- Creutzfeldt-Jakob disease – resulting in permanent symptoms
- Deafness – permanent and irreversible
- Dementia – resulting in permanent symptoms
- Encephalitis – resulting in permanent symptoms
- Heart attack – of specified severity
- Heart valve replacement or repair – with surgery
- HIV Infection – caught from a blood transfusion, physical assault or accident at work
- Kidney failure – requiring permanent dialysis
- Liver failure – of advanced stage
- Loss of hand or foot – permanent physical severance
- Loss of speech – total permanent and irreversible
- Major organ transplant – from another donor
- Motor neurone disease – resulting in permanent symptoms
- Multiple sclerosis – where there have been symptoms
- Multiple system atrophy – resulting in permanent symptoms
- Open heart surgery – with median sternotomy
- Paralysis of a limb – total and irreversible
- Parkinson’s disease – resulting in permanent symptoms
- Primary pulmonary hypertension – of specified severity
- Progressive supranuclear palsy – resulting in permanent symptoms
- Removal of an eyeball – due to injury or disease
- Respiratory failure – of advanced stage
- Spinal stroke – resulting in symptoms lasting at least 24 hours
- Stroke – resulting in symptoms lasting at least 24 hours
- Systemic lupus erythematosus – with severe complications
- Third degree burns – covering 20% of the surface area of the body or 20% of the face or head
- Total and permanent disability – of specified severity
- Traumatic brain injury – resulting in permanent symptoms