Planning, preparing, and protecting against some of life's curveballs makes the unexpected a little easier to cope with. A life insurance policy through Sainsbury’s Bank could help lessen the burden on your family in the event of your death.
What is life insurance?
Life insurance can help to protect your family by providing a cash sum if you die or are diagnosed with a terminal illness (life expectancy less than 12 months) during the length of your policy. In the event of your death, a successful claim could mean financial support for your loved ones, helping to pay the mortgage or everyday living expenses.
How does Life Insurance work?
You pay your life insurance company a fixed monthly (or sometimes annual) premium for a set amount of cover. If a successful claim is then made, the policy could give your loved ones a cash sum to contribute towards things like:
- Living expenses
- Paying off an interest-only mortgage balance
- Covering funeral expenses
- Paying off any outstanding bills and debts
- Leaving some money as an inheritance or as a gift
Why choose a life insurance policy through Sainsbury’s Bank?
- Protection by one of the UK’s largest life insurance providers, Legal & General
- Cover from as little as £5 a month
- Up to £110 worth of Nectar points † when you take out a Life Insurance or Decreasing Life insurance policy direct with us. The number of Nectar points you receive depends on your premium:
- If your monthly premium is under £8.50, we’ll give you 10,000 points (worth £50)
- If your monthly premium is £8.50-£20.00, we'll give you 16,000 points (worth £80)
- If your monthly premium is over £20.00, we'll give you 22,000 points (worth £110)
You'll receive your points after you’ve paid 5 months’ premiums within the following 60 days.
Only choose a premium you can afford and the level of cover you require.
- Discount on your premiums (with or without critical illness cover) just for being a Nectar member **. If you are not a Nectar member and would like to be, just download the app, or register at nectar.com
- You can decide how long you want the policy to run and how much cover you need
- You can choose between a single or joint policy
- If your circumstances change, then you may be able to make changes to your policy (terms & conditions apply)
- If your application is not accepted straight away, Accidental Death Benefit is automatically included for no extra cost while your application is processed (terms & conditions apply)
- Terminal Illness Cover (with a life expectancy of less than 12 months) is automatically included at no extra cost on policies with a term of at least 2 years
Find out more information in the Policy Summary [PDF, 176 KB]
Critical Illness Cover
When you take out your life insurance or decreasing life insurance policy you can add Critical Illness Cover for an extra cost. It can help minimise the financial impact of a critical illness on you and your family.
Choose the right life cover for you
It’s important to choose a policy and the level of cover that you can afford and suits your needs. We also offer:
If you would like to review the features, benefits and available offers on these products, find out more below