Frequently asked questions
Life Insurance

Life insurance, also referred to as term assurance, is a simple, popular and cost effective way to help protect your family financially in the event of your death. If you die during the term of your life insurance policy, or you are diagnosed and are eligible to claim for a terminal illness (although not in the last 12 months of the plan), a lump sum will be paid.

You choose how much life insurance you buy. People often want their policies to pay out a multiple of their salary or the value of their mortgage. You may have dependants to think of, or an unprotected loan to cover. Many employers provide up to four times your salary as life cover. This may not be enough to maintain your family's present standard of living; if you are unsure please contact a financial adviser who will help you decide on the appropriate level of life insurance cover for your personal circumstances.

If you want to increase the amount of life cover you have then you can use the Guaranteed Insurability Option. Otherwise you can apply for a new policy for the additional amount of life cover you require.

We calculate your life insurance premiums based mainly on your age, your occupation, whether you smoke, your medical history, the level of cover you need, how long you need the cover for and the type of contract that you choose. For example, the older you are, the higher your premium will be.

Life insurance premiums start from just $5 a month. Your cover will depend on your individual circumstances and needs and the premium you choose to pay. There are no hidden extras. Why not get a quote for online life insurance right now?

No, if the plan covers two people it will only pay out once. This would be when the first of you dies or becomes eligible for terminal illness cover whichever comes first. The policy will then end and no further benefits will be payable.

Level term means the amount you are insured for remains the same throughout the term of your policy unless you exercise a Guaranteed Insurability Option.

Mortgage term insurance (mortgage life cover) offers you reassurance that in the event of your death, or diagnosis of a terminal illness, there will be help paying off the mortgage. It is not connected to the mortgage itself or the repayments you make on it. You will pay a fixed monthly premium for the term (length of time) you have chosen.

Mortgage decreasing term insurance is where the amount you are insured for decreases over time. Since your monthly premium is fixed but the sum you are insured for decreases roughly in line with your repayment mortgage amount, it's generally cheaper than mortgage term insurance. In some circumstances, the lump sum paid out may not be enough to pay off your repayment mortgage in full, for example if your mortgage interest rate averages over 10% during the term of the plan.

Terminal illness cover will pay out the full amount if you are diagnosed with a terminal illness with less than 12 months to live, rather than when you die. You'll need to be eligible to claim and to have chosen a policy term of two or more years. Terminal illness cover is automatically included in your policy at no extra charge, but does not apply in the last 12 months of the term.

If you're concerned about the possibility of being unable to pay your premiums due to not being able to work for six months or more, you should consider Waiver of Premium option at the outset. Waiver of Premium is an additional cost. If you choose to take out this option on your life insurance or mortgage insurance, your premium will be waived after 26 weeks as a result of incapacity due to illness or accident. Terms and conditions apply.

If you take out mortgage term or mortgage decreasing term insurance to cover a new mortgage, your plan includes SmoothMove at no extra cost. SmoothMove is a 24 hour rescue service to help with unexpected hitches on moving day. It also covers you for up to three months for domestic emergency repairs and legal advice after you have moved in. Inter Partner Assistance, part of one of the largest international emergency assistance groups, provides the SmoothMove Insurance plan.

Why not get a quote for life insurance online right now?

Sometimes when you submit your life insurance application Legal & General may not be able to give you an immediate decsion and may request more information. During this time they provide you with free accidental death benefit so that you still have protection in place. There is no cost for this cover and no underwriting required - giving you added peace of mind that you have cover in place in the event of an accident.