Review of Legal and General Life Insurance
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 with their needs. They provide term insurance for as low as £6 a month. You have the option of adding a 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.
- Fixed Premiums
- Ability to place payout into a Trust
- Up to 90 days of Accidental Death coverage while the application is being reviewed
How User-Friendly is Legal and General’s Insurance Buying Process?
When first engaging with Legal and General’s Insurance buying process, one aspect that quickly becomes apparent is its user-friendliness. The website layout is intuitive and information-rich, aiming to assist users in comprehending their insurance options. They’ve done a nice job of simplifying insurance jargon, making it easier for potential clients to understand precisely what they’re getting.
Moreover, Legal and General provide an array of information to help customers decide on the most suitable policy. They offer personalised customer service and clear instructions for customers to follow while purchasing a policy online. Ease of navigation on the website paired with comprehensive guides, all elements considered, makes for a smooth insurance buying experience at Legal and General.
Legal and General Insurance Pricing: Value for Money?
Turning our focus to Legal and General Insurance pricing, it swiftly becomes evident they take the affordability factor seriously. Prices vary depending on the type of cover chosen, as well as personal factors such as age or health status. But, overall, most customers find Legal and General well-priced and competitively set against their rivals in the insurance marketplace.
Despite this, at Pure Cover, we understand that value for money isn’t solely about the cost. The comprehensive nature of Legal and General’s policies indeed plays a huge part in this equation. With diverse policy options, hearty cover, and great pricing, customers at Legal and General can feel reassured they are receiving good value for their money.
Understanding Legal and General’s Insurance Policy Terms
Legal and General Insurance policy understanding is pivotal for customers to realise what they’re signing up for. Legal and General do a commendable job of ensuring that their policy terms and conditions are as transparent and easy to comprehend as possible. Clear and simple language is used to make sure customers are not lost in legal terminology.
Even then, for any lingering ambiguities or doubts, Legal and General’s customer service team is at your service. They are quick, responsive, and dedicated to resolving any queries about policy terms that you may have. In short, with Legal and General, you are never alone in your journey of understanding your policy terms.
A Look into Legal and General’s Insurance Customer Service
For many customers, Legal and General customer service is one of the real selling points. Efficient, friendly and knowledgeable, staff members work tirelessly to ensure that queries and problems are addressed promptly and professionally. The firm also provides multiple channels of communication, including phone lines, email, and digital chat services to ensure customers can always get in touch.
Remember that good customer service involves more than just solving issues. It means guiding customers from the start, assisting them in buying products, and letting them understand their policy terms. In these areas, Legal and General shine, delivering excellent customer service that leaves their clients confident and well-informed.
Legal and General’s Claims Process: Fast and Fair?
Filing claims is an area where Legal and General’s claims process stands out. Claims filing is straightforward – thanks to a user-friendly website and efficient customer service. When a claim is made, the company typically handles it quickly, ensuring claimants don’t have to wait uncomfortably for long periods.
However, it’s not just speed that matters in a claims process – fairness is just as critical. Here too, Legal and General excel. Claims are assessed impartially, and payouts are generally generous, covering a large portion of the costs incurred by policyholders, which conveys their commitment to customer satisfaction.
Customer Opinions on Legal and General Insurance Products
Most customer opinions on Legal and General Insurance products suggest satisfaction with the service they receive. The price structure, policy coverage, and quality of customer service are particularly praised. As a result, the insurer enjoys solid reviews on several independent platforms, giving future customers an idea of their consistent performance.
Indeed, every company has disgruntled customers, and Legal and General is no exception. That said, the number of positive reviews and the manner in which they handle any negative response indicates a genuine commitment to customer service. So, let these opinions guide you – but remember, personal requirements and experiences may vary.
The Strengths and Weaknesses of Legal and General Insurance
One notable strength of Legal and General Insurance is its range of coverage options. They offer versatile policies that cater to wide customer needs, be it life insurance, home insurance, car insurance, or more niche products. This versatility makes them a one-stop solution for many insurance needs.
However, no company is without its shortcomings. For Legal and General, some customers have mentioned that certain elements of their policy documentation could be simplified further to aid understanding. However, the scale indisputably tips towards strengths over weaknesses when it comes to Legal and General Insurance.
The Coverage You Get with Legal and General Insurance
With Legal and General coverage, you have a plethora of options at your disposal. This isn’t a one-size-fits-all kind of insurance provider; they provide a broad spectrum of insurance products, ensuring most, if not all, your coverage needs are met. You have life insurance, income protection insurance, pet insurance, and numerous other options.
That’s not all, their coverage often exceeds what most other standard insurers offer, benefiting clients with comprehensive protection. In short, with Legal and General, you’re not just purchasing insurance, you’re buying the peace of mind of knowing you’re well-covered.
Insurance Options: Our Honest Breakdown
The 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 & General Life Insurance
Legal and General life cover will pay out the cash sum of the policy if the 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 a maximum of 50 years. The policy, however, must end before your 90th birthday.
Critical Illness Cover
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 from the critical illness cover attached. They begin at 2 years with a maximum of 40 and the policy must end before your 70th birthday.
Mortgage Protection Insurance
Legal and General also offers a Decreasing Term insurance policy, better known as 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 a maximum of 50 years. The policy also must end before your 90th birthday
Mortgage Insurance with Critical Illness Cover
Just as general insurance has 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 from the critical illness cover attached. They begin at 5 years with a maximum of 40 and the policy must end before your 70th birthday.
Over 50s Life Protection
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 for 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.
How Legal and General Insurance Stands Against Major Competitors
Competition is rife in the insurance realm, and standing out is no easy feat. However, Legal and General vs competitors fare well in this respect. Their competitive pricing, combined with a broad range of coverage options and a robust customer service suite, ensures they can hold their original ground in this crowded field.
They’ve managed to carve a unique niche for themselves in this sector, by adopting a customer-first approach. When comparing them against major competitors, their standout factor lies in their ability to offer affordable, comprehensive and user-friendly insurance solutions.
Is Legal and General Insurance Worth the Investment?
Finally, you might be asking, “is Legal and General insurance worth the investment?” Here at Pure Cover, we believe it is. Owing to the wide range of options, competitive pricing, user-friendly experience, and commendable customer service, Legal and General indeed offers a package that’s hard to resist.
However, as we always advise, it’s crucial to do your fact-checking before deciding. Assess your own personal needs, consider your budget, and examine if Legal and General align with your requirements. And remember, the decision to invest in any insurance policy should be deeply personal – but with this review, we hope to have made that decision a little simpler.
Frequently Asked Questions(FAQ)
What types of coverage does Legal and General offer?
What is Legal and General’s claims process like?
How does Legal and General pricing compare to competitors?
What are the main strengths of Legal and General Insurance?
Is Legal and General Insurance worth the investment?
Legal & General Life Insurance – Conclusion
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 the 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 the premium the 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.
Our Legal and Geral Life insurance review has outlined all the aspects that might be of interest to you. If you found it insightful, please don’t hesitate to get a free quote below!
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