Legal & General life insurance

The following policies are available through Legal & General:

Level term life insurance

Level term life insurance covers you for an agreed amount of time (the term) and pays out if you die during this time.

Your cover amount is the same throughout the policy term, this can help your loved ones to cover costs such as an interest only mortgage and family living costs.

You must be aged 18 – 77 to buy a decreasing term life insurance policy with Legal & General.
• You can buy a policy with a minimum term of 1 year and a maximum term of 50 years. But your policy must end before you reach age 90.
• Legal & General include terminal illness cover at no extra cost. This means you can make an early claim on your policy if you’re diagnosed with a terminal illness and given 12 months or less to live.
• You can buy cover for just yourself or another person. With a joint policy, 2 people are covered and the policy provides 1 pay out.

Decreasing term life insurance

Decreasing term life insurance covers you for an agreed amount of time. This is what life insurance companies mean by 'the term'. It pays out if you die during this time.

Your cover amount will reduce throughout the policy term to help you protect a repayment mortgage. For this reason, decreasing term life insurance is also known as mortgage life insurance.

Legal & General will apply an interest rate to your cover amount to estimate the amount you pay for your mortgage each month. Your cover amount will then decrease in line with this amount.

• Through Legal & General you must be aged 18 – 74 to buy a decreasing term life insurance policy.
• You can buy a policy with a minimum term of 5 years and a maximum term of 50 years. But your policy must end before you reach age 90.
• Legal & General include terminal illness cover at no extra cost. This allows you to make an early claim on your policy if you’re diagnosed with a terminal illness and given 12 months or less to live.
• You can buy cover for 1 person or 2 people. A joint policy usually covers 2 people and provides 1 pay out.

Life insurance with critical illness cover

You can add critical illness cover for an additional cost to both level and decreasing term life insurance through Legal & General.

Adding critical illness cover means your policy will either pay out if you’re diagnosed with a specific serious illness or if you die during the policy term.

• Through Legal & General you must be aged 18 – 67 to buy life insurance with critical illness cover.
• You can buy a policy with a minimum term of 2 years and a maximum term of 50 years. Your policy must end before you reach age 75 though.
• Legal & General include 72 conditions in their critical illness cover, including cancer, heart attack and stroke.
• You can buy cover for you, or for you and someone else. A joint policy covers 2 people and provides 1 pay out.

Whole of life insurance

Whole of life insurance covers you for the rest of your life, guaranteeing a pay out when you die.

Legal & General offer whole of life insurance, but you have to buy it through a financial advisor.

• Through Legal & General you must be aged 18 – 84 to buy a whole of life insurance policy.
• Once you've bought the policy, cover lasts for life.
• You can buy cover for you or someone else. If you choose to cover you and a partner on a joint policy, for example, there's only 1 payout.

Over 50 life insurance

Over 50s life insurance offers guaranteed acceptance for those over 50, without asking any medical questions during the application process.

You can get up to £10,000 of cover with Legal & General's over 50s life insurance.

The amount of cover you can buy is smaller than with other policy types due to the unknown risk you pose.

• Through Legal & General you must be aged 50 - 80 to take out an over 50s life insurance policy.
• Cover will continue for the rest of your life but you won’t need to pay your premiums once you reach the age of 90.
• The policy will include a 12 month waiting period. During this time death by natural causes won’t be covered but accidental death will be covered. You’ll be fully covered once 12 months has passed.