expanded Overview

Cover from £5 per month

Decreasing Life Insurance aims to protect a repayment mortgage, so the amount of cover reduces roughly in line with the way a repayment mortgage decreases. It could pay out a cash sum if you die during the length of your policy. For added peace of mind, you can add Critical Illness Cover at an additional cost when you take out your Life insurance or Decreasing Life insurance policy.

Get a quote

Available offer

  • £70 worth of points. That’s 14,000 Nectar points We’ll give you them after you’ve paid 5 months’ premiums.††
  • Double points at Sainsbury’s as long as your policy is valid, when you buy a new life insurance, Decreasing life insurance (with or without Critical Insurance cover) or Over 50s life insurance policy and keep paying your policy premiums.‡

Additional benefits of Sainsbury's Life Insurance

  • Choice - you choose the amount and length of cover
  • Flexibility - increase your cover as your lifestyle changes (conditions apply)
  • Joint cover option - for you and your partner
  • Lower premiums - for non-smokers
  • UK based call centres - with a designated member of Legal & General's specialist team to manage your claim

Summary of features

  • Your policy could pay out a cash sum if you die during the length of the policy
  • The amount of cover reduces roughly in line with the way a repayment mortgage decreases
  • Your monthly payments will remain the same, unless you alter your policy
  • Additional Benefits including Terminal illness cover and Accidental Death Benefit
  • Please see the Policy Summary [PDF 147KB] for full terms and conditions

This is not a savings or investment product, and has no cash value unless a claim is made.

Replacement cover

If you make a claim on a joint life policy the policy will come to an end and the cash sum will be paid. The person who hasn't made a claim may be able to set up  a new single life policy without having to go through full underwriting. Terms and conditions apply, please refer to the Life policy booklet for more information.

How much cover?

Not sure how much life cover you need - our online life insurance calculator could help you decide in four easy steps. Try it now.

Terms and conditions apply. Please see the Policy Summary [PDF 147KB].

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 (with or without Critical Illness) 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.

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.

Additional Cover

We offer the following at an additional cost:

Critical illness cover

Add Critical Illness Cover when you take out your life insurance policy and you could receive a cash sum if you are diagnosed with one of the specified conditions during the term of the policy. Your children will also be covered at no additional cost. Terms and Conditions apply

You can find out more about Critical Illness cover here including details of the illnesses covered.

It's your responsibility to make sure the policy meets yours needs. If you require advice please contact a financial advisor.

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 (with or without Critical Illness) 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.

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.

Important info

Important information

It is your responsibility to make sure the policy meets your needs. If you require advice please contact a financial advisor. The Policy Summary [PDF 147KB] is an important document, which you should read before applying.

Sainsbury’s Life Insurance is provided by Legal & General Assurance Society Limited, Registered Office: One Coleman Street, London, EC2R 5AA (registered in England and Wales no. 166055). Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Sainsbury's Bank plc, Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no. 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register no. 184514). Sainsbury's Supermarkets Ltd is an appointed representative of Sainsbury's Bank plc.

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 (with or without Critical Illness) 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.

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.

Apply now

Get your life insurance quote today

Apply online or call 0800 027 7166.

Just follow these easy steps to receive an instant quote today:

  1. Choose the type of insurance you require and the amount of cover.
    This value of cover reduces roughly in line with the way a repayment mortgage decreases. It also pays out if you are diagnosed with a terminal illness (minimum term of 2 years).

  2. Select the length of cover.
    Please note that we cannot pay you if your policy term has ended before you die.

  3. If required, add Critical illness cover.
    Additional costs apply.

  4. Have your personal details at hand.
    Please provide your bank details, and doctor’s name and address. If applying for a joint policy your partner will also need to supply their details.

Important information

There are some circumstances when the policy won't pay out. For example, if you don't truthfully provide all the information we request on your application. These are all described in the Policy Summary [PDF 147KB]. This is an important document which you must read, to make sure the policy meets your needs.

Up to 90 days protection while you wait

Many applicants are accepted immediately, however you will still be covered for accidental death benefit for up to 90 days while your application is processed. Terms and conditions apply.

It's your responsibility to make sure the policy meets yours needs. If you require advice please contact a financial advisor.

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 (with or without Critical Illness) 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.

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.

Existing customers

Please visit our customer support section for more information about:

  • Contacting us
  • Making a claim
  • Life Insurance FAQs
  • Policy documents

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 (with or without Critical Illness) 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.

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.