What is Life Insurance?

Life Insurance provides financial protection for your loved ones by paying out a cash sum in the event of your death during the length of the policy. You can pay a fixed monthly premium for a set amount of cover. This lets you know how much your family could be left with if a valid claim was made. The policy could provide a cash lump sum that can help to pay the mortgage or help cover everyday living expenses.

Why choose a life insurance policy through Sainsbury’s Bank?

With our life insurance policy, you’ll get:

  • Protection by one of the UK’s largest life insurance provider, Legal & General
  • Up to £90 of Nectar points †
  • We’ll double the Nectar points on your Sainsbury’s shopping and fuel ‡

Life insurance

  • 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, we'll give you 14,000 points (worth £70)
  • If your monthly premium is over £20, we'll give you 18,000 points (worth £90)
  • You'll receive your points within 60 days after you have paid five months' premiums.

How does Life Insurance work?

Life Insurance could pay out a cash sum should you die (or be diagnosed with a terminal illness with a life expectancy of less than 12 months) during your policy. The policy could provide your loved ones with a cash sum that could help them cover everyday living costs and bills. You can use this to:

  • Help with living expenses
  • Pay off an interest-only mortgage balance
  • Pay towards funeral expenses
  • Pay off any outstanding bills and debts
  • Leave some money as an inheritance or a gift

What’s covered?

Everyone needs different things from their insurance – that's life.

  • You can get cover from as little as £5 a month
  • 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.

Before you apply

Remember that life insurance 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 plan, your cover will end 30 days after your missed payment.

If your life insurance is to cover your mortgage, your policy may not completely pay off your outstanding mortgage unless you make sure your amount of cover is adjusted to match any new mortgage arrangements.

It's your responsibility to make sure your policy is right for you, so if you need any advice then you should get in touch with a financial advisor. Please read the Policy Booklet and Policy Summary [PDF 113KB] before you apply.

Get a quote

Serious accidents are an unfortunate and unexpected fact of life. Sometimes when you apply for life insurance an immediate decision cannot be given. That’s why Accidental Death Benefit is included with your life insurance policy, at no extra cost. The cover will last for 90 days or until your application is accepted, postponed or declined or you give notification that you no longer with to proceed, whichever is earliest. The maximum payment would be the amount of cover you applied for (across all applications) or £300,000, whichever is lower. Find out more about Accidental Death Benefit.



Add Critical Illness Cover

If you suffer a critical illness, it can often have a significant impact on your life. You may have to reduce your working hours, stop work completely or there might be lifestyle changes to make or modifications to your home. All of these can have a serious effect on your finances.

Critical Illness Cover can be added for an extra cost, when taking out a Life Insurance policy. Find out more on our Critical Illness Cover page.

How much cover do I need?

The answer to this depends on your individual circumstances. Things to consider are how much cover you need and how long you need it for. It’s quick and easy to get a Life Insurance quote with Sainsbury’s Bank.

Get a quote

Or why not use our life insurance calculator to get an estimate of how much you might need?

Guide to life insurance

Understand everything you need to know when choosing your life insurance policy.

Explore our FAQs

Got a query about life insurance? We’ve answered the most commonly asked questions.

Existing customer?

Already a customer? Log in to your account.

Offer Terms and Conditions

† Collect up to £90 of Nectar points - 1. This offer is only available when you take out a new life insurance, decreasing life insurance or over 50s life insurance policy. 2. After you've paid 5 months' premiums, you'll receive 18,000 Nectar points (worth £90) if your monthly premium is over £20.00, 14,000 points (worth £70) if your monthly premium is £8.50 - £20.00 or 10,000 points (worth £50) if your premium is under £8.50. If you’ve taken over 50s life insurance, we’ll add 18,000 points. We’ll add the points to your Nectar account within 60 days unless your policy is cancelled during this period. 3. You need to tell us your Nectar card number when you apply 4. We'll award points for no more than 2 policies per household in any 12 month period. 5. Sainsbury's Supermarkets Ltd award the points from this offer. No cash alternative is available. 6. We reserve the right to change or cancel this offer without notice.

‡ Double Nectar points  offer – 1. Offer available to customers buying a new life insurance, decreasing life insurance or over 50s life insurance policy. 2. You need to tell us your Nectar card number when you apply; and scan or swipe that card, or input your card number, with each Sainsbury’s purchase. 3. Double points begin on your policy’s cover start date. If you tell us your Nectar card number after your cover start date, double points begin on the date you tell us. 4. Double points stop when the policy is cancelled or you stop paying premiums. 5. Each Nectar account can only collect points from one life insurance policy. 6. It’s only the base points you collect at Sainsbury’s that are doubled. Bonus points won’t be doubled, nor will any points from Argos, Habitat, Sainsbury’s Bank (including travel money purchases), Sainsbury’s Energy or any other Sainsbury’s service. 7. By the 10th of each month, you’ll get a bonus point award equal to the total of your qualifying points during the previous month, up to a maximum of 20,000 points. 8. Sainsbury's Supermarkets Ltd award the points from this offer. No cash alternative is available.  9. We reserve the right to change or cancel this offer without notice.