Legal and General Life Insurance was voted UK's number 1 Insurance provider by Term & Health Watch Report 2017. Founded in 1836, they now help over 10 million globally for their needs. They provide term insurance for as low as £6 a month. You have the option of adding Critical Illness cover as well as a Waiver of Premium should you be unable to work. They also offer an Over 55 policy for as little as £5.
Below you can find a Legal and General Life Insurance review where we cover all the points that are of any interest to you. Start off by looking at the pros and cons of the company.
Company offers Level and Decreasing insurance quotes as low as £6 per month. At no extra cost, each policy has an up to 90 day Accidental Death benefit while Legal and Geral Life Insurance reviews your application. Active from policy receipt until the application is approved or denied.
All policies offer a Terminal Illness benefit and will pay out in the event of cancer or other terminal illness diagnosis where life expectancy is less than 12 months.
Legal and General life cover will pay out the cash sum of the policy if insured dies within the length of the policy. It is designed to help with family lifestyle and daily expenses.
Premiums and Cover amounts are fixed from the start of the policy. You choose the amount of cover you desire and will remain the same for the policy life. Your premium is set by your cover amount and underwriting decisions and remains fixed, also for the life of the policy.
In order to apply, you must be between 18 and 77 years of age. You can select the term of the policy, from 1 year to the maximum of 50 years. The policy, however, must end before your 90th birthday.
This Legal and General policy will pay out in a lump sum if the insured is diagnosed with a critical illness as defined by Legal and General Insurance.
Premium and Cover amounts are the same as with the normal quotes
The age range to apply is between 18 and 67 at the start of the policy. The terms are different with the critical illness cover attached. They begin at 2 years with a maximum of 40 and the policy must end before your 70th birthday.
Legal and General also offers a Decreasing Term insurance policy, better known as a Mortgage Protection Insurance. It is designed to help pay off the remaining mortgage should the insured die within the policy period.
Decreasing term means that the premiums and cover amounts decrease over time. They are designed to roughly follow the decreasing interest rate of your mortgage payment.
In order to apply, you must be between 18 and 74 years of age. The term of the policy is somewhat different from a normal insurance policy. You can choose from 5 years to the maximum of 50 years. The policy also must end before your 90th birthday
Just as general insurance has a critical illness cover, so does Mortgage Insurance. It will pay out a lump sum to the insured in the event of a critical illness diagnosis as defined by Legal and General Life Insurance.
The age range to apply differs from other policies. You must be between 18 and 64 at the start of the policy. The terms are also different with the critical illness cover attached. They begin at 5 years with a maximum of 40 and the policy must end before your 70th birthday.
Life and General offers a guaranteed acceptance insurance policy for those 50 to 80 years of age. They offer two levels of coverage. Fixed and Increasing. The application is simple and there is no need of medical or lifestyle questions. This policy is designed to assist with funeral costs and the ability to leave a cash sum gift to family members.
The Fixed plan offers level premiums as low as £5 a month and a fixed cash sum. The Increasing plan allows you to review your policy each year to make adjustments for inflation.
This policy will not pay out in the first year of the policy. In the event of death in that first year, all premium amounts will be refunded.
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Payouts are free from UK Income Tax and Capital Gains Tax. Most insurance policies are protected under the FSCS.
All policies must not end before your 29th birthday.
The insured has the ability to place their policy in Trust to ease the burden on surviving family members and avoid the Inheritance Tax (IHT.)
The insured has an option to have reviewable premiums. If this option is chosen then Legal and General Life Insurance reviews the policy on its fifth anniversary to determine whether the premiums will be changed. The Legal & General reviews will proceed every five years. This review will determine if the amount of premium can be reduced. If after the review the premium remains the same or decreases nothing changes if there is an increase, you have the choice to accept new rates or to keep premium same but at a reduced cover.
If you have additional questions call the Legal and General Life Insurance contact number or find them on the web at their Legal & General Life Insurance login page.
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Our Legal and Geral Life insurance review has outlined all the aspects that might be of an interest to you. If you found it insightful, please don't hesitate to get a free quote below!