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What is life insurance?

Life insurance is a straightforward way to give your family a financial safety net. If you die during your policy term, your family could get a cash sum to help towards paying off debts, bills and other expenses.

Why take out life insurance with us?

When you take out a new life insurance policy with us, you’ll get:

  • £70 worth of bonus Nectar points after you’ve paid 5 months of premiums†
  • Double Nectar points at Sainsbury’s when you buy a new life insurance policy‡

Pick the right cover for you:

Life insurance

A simple way to help you protect your family and their finances when you're gone.

Or help protect your repayment mortgage with Decreasing Life Insurance.

Over 50s life insurance

Leave your family a cash sum which could be used towards funeral costs or as a gift with over 50s life insurance.

Existing customers

Already got life insurance with us? Go to our customer support page for information on how to make a claim and answers to our FAQs.

Look after your loved ones

Whether you want to leave them a cash gift or help protect your mortgage, there’s a policy to suit you. For more information about how life insurance works, take a look at our FAQs page.

Help protect your mortgage with Decreasing Life Insurance

Decreasing Life Insurance is a little different to other types of life insurance. It’s designed to help pay off your outstanding repayment mortgage if you die during your policy term. Because of this, the amount you're covered for slowly decreases over time. This is roughly in line with the way a repayment mortgage decreases. For more information take a look at our Decreasing Life Insurance page.

Add Critical Illness Cover

Critical illness cover is an optional extra that you can include when you take out Life Insurance or Decreasing Life Insurance. More people survive critical illnesses than ever before. This additional cover could pay a lump sum to help you recover or adjust to life if you are diagnosed with one of the specified illnesses. To decide whether you’d like to add this to your policy, take a look at our Critical Illness Cover page.

Leave your family a cash sum with over 50s life insurance

Over 50s life insurance is designed to pay a cash sum that can be used as a gift or towards funeral costs. As long as you keep paying premiums, when due, your family could be paid a lump sum to help when you’re gone.

Offer Terms and Conditions
† The £70 worth of Nectar Points offer is an introductory offer available to customers who purchase direct from Sainsbury’s Bank’s website or by phone a new Sainsbury’s Bank Life Insurance plan, Decreasing Life Insurance plan or Over 50s life insurance plan from 16th February 2017. 14,000 Nectar points, the equivalent of £70, will be credited to your Nectar account after you have paid five months’ premiums, as long as your plan is still in force and no premiums are outstanding. Your points will appear in your Nectar account within 60 days after you have paid five months’ premiums.

One set of Nectar points per plan sold, limited to two per household in a 12 month period. Legal & General reserves the right to cancel any plans should they suspect fraud or misconduct. Sainsbury’s Bank reserves the right to withdraw or amend this offer at any time, without notice. No cash alternative available.

You need to tell us your Nectar card number when you apply. The Nectar Collector Rules detail how to collect and use points. You can find these in the Nectar registration pack and at nectar.com.

‡ Double Nectar Points – 1) Offer available to customers buying a new Sainsbury’s Bank Life Insurance, Decreasing Life Insurance (with or without Critical Illness) or Over 50s Life Insurance policy. 2) You need to tell us your Nectar card number when you apply, and use this card 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. If you're taking part in the new Nectar trial, it's the points you get on new Nectar 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. 9) No cash alternative is available. Sainsbury’s Bank reserves the right to alter, cancel or withdraw this offer without notice.