Planning, preparing and protecting against some of life's curveballs makes the unexpected a little easier to cope with. Find out how a Sainsbury’s Bank Life Insurance policy could help your family.
- Protection by one of the UK’s largest life insurance providers, Legal & General
- You'll get £100 of nectar points if your monthly premiums are £10 or more.† You'll receive your points within 60 days after you've paid 5 months' of premiums.
- We’ll double the Nectar points on your Sainsbury’s shopping and fuel for 12 months when you purchase by 31/05/2022 ‡
What is life insurance?
Life insurance could pay out 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 will typically pay out a cash sum that could be used to help pay the mortgage or everyday living expenses.
How does Life Insurance work?
Life insurance could pay out 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.
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:
Paying off an interest-only mortgage balance
Covering funeral expenses
Paying off any outstanding bills and debts
Leaving some money as an inheritance or a gift
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 [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.
Get Nectar member benefits
You can earn 20,000 Nectar points worth £100 when you take out a life insurance policy with us and your monthly premiums are a minimum of £10. To join Nectar, just download the app or register at nectar.com .
Life insurance and decreasing life insurance
Before you apply
It’s usually quick and easy to apply for life insurance online, but there are some things to bear in mind before you buy a policy.
Remember that life insurance is not a savings or investment product and offers no cash value or financial return 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 any policy you purchase is right for you. If you have questions or need advice, you should speak directly with a financial advisor. Please read the Policy Booklet [PDF, 266 KB] and Policy Summary [PDF, 176 KB] before you apply.