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Your guide to life insurance

Your guide to life insurance

Helping you find the right life insurance policy for you and your loved ones. Provided by Legal & General

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Look after your loved ones

Choosing a life insurance policy is an important decision. After all, you want to feel reassured that your cover will provide financial protection for your family if you die during your policy term. So it’s worthwhile doing your homework. Our guide helps you understand how to find the most appropriate life insurance cover for your needs.

What is life insurance?

Life insurance is an insurance policy that can help with the financial burden of your death on your family if you die during the length of the policy.

Often, this is a cash sum that could help your family:

  • Cover living expenses, bills, or leave them money as a gift
  • Pay off any remaining mortgage repayments or mortgage balance
  • Pay towards funeral expenses
  • Pay off any outstanding bills and debts

It's important to remember that these policies are not savings or investment policies and have no cash value unless a valid claim is made.

Do I need life insurance?

People with families or a mortgage take out life insurance policies to provide financial protection for their loved ones.

To help you make a decision, ask yourself one important question. In the event of your death, would those who are financially dependant on you be able to cope? Would partners or children be able to continue paying mortgage repayments, rental costs, household bills, outstanding debts or funeral costs?

However, not everyone needs life insurance. If you don’t have any dependants or liabilities that you want taken care of, it’s possible that life insurance is not for you.

How does life insurance work?

As complicated as it might seem, life insurance is actually quite straightforward. Depending on your provider, you agree to pay monthly or annual premiums for the length of your life insurance policy. If you die during this time, a tax-free cash sum could be paid to your loved ones or named beneficiaries.

Which life insurance do I need?

There are different types of life insurance to choose from. It’s important to understand these differences so you can select the cover that works best for you.

Everyone needs different things from their insurance – that's life. Worry less about the ‘what ifs’ and get on with your day. Remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made. Compare our policies and pick the right cover for you.

Life Insurance

With Life Insurance, the amount of cover you have remains the same during the length of the policy. It could be used to help protect the family's lifestyle and everyday living expenses or help to protect a mortgage (interest only).

Decreasing Life Insurance

Decreasing Life Insurance is designed to help protect a repayment mortgage, so the amount of cover reduces roughly in line with the way a repayment mortgage decreases.

Add Critical Illness Cover

Critical Illness Cover is an optional extra that can be added for an additional cost when taking out life insurance. This cover could help ease the financial strain if you become critically ill. For more information on the conditions covered, read the guide to Critical Illness Cover.

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

Help protect the ones you love by preparing for the future. With us you’ll get:

  • Protection by the one of the UK’s largest life insurance providers, Legal & General
  • Plus, get up to 22,000 Nectar points† as a thank you for taking out life insurance when you buy direct with us. The number of points awarded will depend on your monthly premium:
    • If your monthly premium is under £8.50, we’ll give you 10,000 points (could be worth £50)
    • If your monthly premium is £8.50-£20.00, we'll give you 16,000 points (could be worth £80)
    • If your monthly premium is over £20.00, we'll give you 22,000 points (could be worth £110)

You'll receive your points within 60 days after you've paid 5 months' of premiums. To join Nectar, just download the app or register at 

Only choose a premium you can afford and the level of cover you require. 

Life Insurance calculator

Not sure how much cover you need? This life insurance calculator will quickly help you work out how much cover you might need.

Your life insurance questions

For more information about how life insurance works, take a look at our FAQs page.

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Already a customer? Log in to your account.

More helpful life insurance guides

Joint life insurance guide - Find out everything you need to know about joint life policy.

Accidental Death Benefit – Find out more about the Accidental Death Benefit that may be included with your life insurance policy.

For questions and quotes

Call 0800 027 7166*    More phone options

Lines are open:
08.30am - 8pm, Mon - Fri
09.00am - 1pm, Sat

*Telephone calls may be recorded for security purposes and monitored under Legal & General's quality control procedures. Calls are free from a landline and mobile if calling from the UK.

Offer Terms and Conditions

†Up to 22,000 Nectar points

1. This offer is only available when you take out a new Life Insurance or Decreasing Life Insurance policy. Purchases through price comparison, cashback, voucher code and similar sites are excluded.
2. We award points based on your monthly premium. You'll get:
22,000 points (could be worth £110) if your monthly premium is over £20.00;
16,000 points (could be worth £80) if your premium is £8.50 - £20.00 or 
10,000 points (could be worth £50) if your premium is under £8.50. 
3. We’ll add the points to your Nectar account after you’ve paid 5 months’ premiums, within the following 60 days.
4. You need to tell us your Nectar card number when you apply.
5. We'll award points on no more than 2 policies per household in any 12 month period.
6. Sainsbury's Supermarkets Ltd award the points from this offer. No cash alternative is available.
7. This offer is governed by English law and we reserve the right to change or cancel it without notice.

Legal & General Assurance Society Limited Registered in England and Wales No. 00166055. Registered office: One Coleman Street, London, EC2R 5AA. Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.