When was Legal & General founded?

Legal & General were founded in 1836 and by 1939 they had paid out their first life insurance claim.

Nowadays they provide pensions, investments and insurance products to customers all over the world.

In 2021, they were named 'Best Life Insurance Provider' at the Moneyfacts awards[1].

But are they the best life insurer for you?

Legal & General

Below we review the merits of award-winning life insurance provider Legal & General...

What is Legal & General life insurance?

Legal & General life insurance secures the financial future of your loved ones if the worst were to happen to you.

Monthly premiums are paid throughout the life of your policy; if you pass away whilst the policy is valid, a pay out is issued to your loved ones.

The pay out proceeds can be used for whatever your loved ones wish, including:

  • Paying off the mortgage
  • Covering the cost of your funeral
  • Settling debt in your name
  • Helping with day-to-day family living costs
  • Enjoying a holiday or other activity

How much life insurance do you need?

Enter your financial commitments to understand the level of cover you require.


£121,687 is the estimated average outstanding mortgage per household in the UK.

Our property is generally the largest financial commitment any of us will make.

Your life insurance should cover this significant debt should you no longer be around.


According to Money Advice Service, full-time childcare in the UK now costs £242 a week.

The loss of a parent could result in the need for additional childcare whilst the surviving parent increases their hours to account for lost income.

Your life insurance cover should factor in this additional required outgoing.


The average level of debt (minus a mortgage) in the UK is £15,385.

Factoring in any outstanding debts in your name when arranging life insurance ensures this burden is not passed to loved ones.


You may wish to leave your loved ones an inheritance or lump sum gift upon your passing.

Factoring in the gift amount when arranging your cover will ensure the pay out amount will be sufficient to provide your loved ones with this selfless gesture.


According to SunLife, the average cost of a UK funeral is now £4,417, whilst the total cost of dying is £9,493.

This is a 130% increase over the past 16 years and shows no signs of slowing down.

A significant cost which should be factored into the amount of life insurance you secure.


If you are one of the 65% of the UK who are lucky enough to have savings, this could be used as protection if you were to pass away.

Any pay outs from existing life insurance policies and investments can also be used as financial protection for your loved ones if you were no longer around.

Factor this into your required cover amount.

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Your total cover estimate

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Who underwrites Legal & General life insurance?

All underwriting for Legal & General life insurance is carried out by themselves.

This means no work is outsourced and any queries you have regarding the process can be addressed directly.

Are Aviva and Legal & General the same company?

To avoid any confusion, Aviva and Legal & General are not the same company.

Whilst offering a very similar array of services, they're both independent companies and are not connected in any way.

Legal & General life insurance policy

Legal & General offer three types of life insurance:

  • Level term cover
  • Decreasing term cover
  • Over 50s life insurance

All policies come with fixed premiums and the amount of cover you can secure is unlimited, (depending on your personal circumstances).

Life insurance with Legal & General starts from as little as £6 a month.

What does Legal & General life insurance cover?

Like most life insurance providers, Legal & General don't add exclusions to their policies.

Therefore, death by any means is covered and a pay out will be made to your loved ones as a result.

The exception to this is suicide which won't be covered as a cause of death within the first 12 months of a policy.

Joint Legal & General life insurance

Joint life insurance allows you to cover two lives simultaneously under one policy.

Typically, this will save you approximately 25% each month on your premiums.

However, the main drawback with joint cover is that once a claim has been made, the policy expires and the surviving partner is left without protection.

Unlike other insurers, Legal & General allow the option to split a joint policy into two individual policies should your partnership not withstand the test of time.

Legal & General level life insurance

Level term life insurance with Legal & General starts from as little as £6 a month.

Cover can be put in place for 1-50 years; if death occurs within this period, a lump sum pay out will be made to your beneficiaries.

The pay out remains fixed throughout the policy, therefore, regardless of when you pass during the term, your loved ones can be certain of the amount they'll receive.

This type of life insurance is ideal for covering fixed costs such as:

  • Interest-only mortgage
  • Funeral costs
  • Daily living costs
  • Clear outstanding debt
  • Inheritance

At Reassured, we sell level term life insurance from the market-leading insurers, including Legal & General.

Contact us today to ensure you're receiving the very best deal.

Legal & General decreasing life insurance

Legal & General also offer decreasing term life insurance cover.

Throughout the term of the policy, the sum assured declines in value. It can be set to decrease at a rate which suits your needs.

Typically, this form of life insurance is used to cover a repayment mortgage.

As the mortgage balance decreases over time, so does the sum assured.

As a result of the risk to the insurer reducing over-time, decreasing term tends to be the cheapest form of life insurance.

Legal & General mortgage life insurance

Mortgage life insurance typically refers to level or decreasing term cover depending on the type of mortgage you have.

It's taken out to ensure an outstanding mortgage balance can be paid if the worst were to happen to you.

This avoids a significant financial burden falling onto loved ones and ensures they can remain in the family home.

Level term cover is well suited to cover an interest-only mortgage (as the capital borrowed doesn't decrease).

Whilst decreasing term cover is typically taken out to cover a repayment mortgage.

Both level and decreasing term cover only pay out if you pass away during the set term.

Legal & General over 50 life insurance

Legal & General over 50s life insurance offers guaranteed acceptance for all UK residents aged 50-80.

Premiums start from £5 a month[2] and are priced depending on your age and smoking status only, (no medical information is required).

Unlikely some insurers, Legal & General only employ a 12-month waiting period, as opposed 24 months.

The waiting period describes a period of time at the start of a policy in which you can't claim, (although premiums paid are returned).

At the age of 90, you'll also stop paying premiums, but cover will remain in place until you pass away.

Legal & General pay out 100% of claims[2], most within one day of the claim being filed.

The downfall with their over 50s plan, however, is that policies don't exceed a £10,000 sum assured.

At Reassured, we offer over 50s plans up to £20,000 sum assured. Therefore, to ensure you receive the best deal, contact our team to compare quotes.

Legal & General whole of life insurance

Due to the complexity of the product, Legal & General only sell whole of life insurance policies through an advisor. Therefore, we can't arrange this cover for you at Reassured.

A whole of life policy remains in place for the rest of your life, therefore, guaranteeing a pay out when you die.

This type of policy is ideal if you want to ensure your loved ones receive a pay out, but if taken out too early it's possible to pay more in than the overall sum assured.

If this is the type of life insurance policy you're looking for, at Reassured we work with a number of other insurers who offer this policy.

Simply get in touch to arrange the best cover for you.

The cost of Legal & General life insurance

Like all life insurance providers, Legal & General calculate the cost of your premiums using a number of factors:

  • Age
  • Health
  • Lifestyle
  • Smoking
  • Type of life insurance
  • Amount of cover

Generally speaking, the higher the risk you pose to the insurer, the more costly your monthly premiums will be.

As a result, it's essential to compare multiple quotes to ensure you get the best deal.

At Reassured, we can carry out this time-consuming process and we never charge a fee for our service.

Legal & General life insurance with free gift (£100 gift card)

When arranging life insurance with Legal & General, you'll be entitled to an Amazon or M&S gift card worth £100.

Policies must be arranged directly through Legal & General and you'll not receive your free gift until you've paid your 6th monthly premium.

It could take up to 30 days for you to receive your gift card.

The good news with this offer is, unlike other insurers, the amount you receive is not based on the premium cost, making you eligible for the full £100 regardless of how much you pay.

Whilst everyone loves to get something for free, £100 in comparison to the lifetime value of your policy is fairly insignificant.

Therefore, primarily it's far more important to ensure that you get the right cover to meet your needs.

At Reassured we can discuss this with you and provide you with all the information you need to make an informed decision.

Legal & General life insurance pay out

It's a common misconception that life insurance providers avoid paying out.

In 2020, Legal & General paid out 97% of life insurance claims[3], which is inline with the industry average[4].

This highlights the likelihood of a successful claim should the worst happen.

Life insurance with terminal illness cover

Like all other policies provided through Reassured, Legal & General policies come with terminal illness cover as standard.

This means that if you're diagnosed with a life-threatening illness and given less than 12 months to live, you can make an early claim.

An early pay out could be used to enable you to get your finances in order, pay for private medical treatment or to simply enjoy your final days with those you love.

Life insurance with critical illness cover

It's also possible to arrange critical illness cover alongside most life policies arranged through Reassured, for an additional cost. This includes Legal & General policies

Critical illness cover allows you to make an early claim on your policy if you're diagnosed with a serious, yet non-life-threatening illness.

The early pay out can be used to fund necessary adaptations to your home, replace a lost income or simply enjoy with family.

It's important to remember that adding critical illness cover will inflate your premiums and once a claim has been made, your policy (including life insurance) will expire.

Life insurance in trust

Writing your Legal & General policy in trust hands over the rights of your policy to a trustee upon your death, (similar to an executor of a will).

Writing your life insurance in trust detaches the sum assured from your estate meaning it:

  • Avoids/minimises 40% inheritance tax
  • Doesn’t have to pass through probate
  • Can be better managed to carry out your wishes

At Reassured, we offer a free service to help you write your Legal & General life insurance policy in trust.

We'll talk you through the entire process, answer any questions you have and help decipher jargon to provide you peace of mind that your application is correct.

Legal & General life insurance contact

The Legal & General life insurance department can be contacted:

  • Tel: 0370 163 0657
  • Monday-Friday 09:00-18:00

Cancel life insurance

It's possible to cancel your Legal & General life insurance at any point during the policy.

If cancelled within the first 30 days, any premiums paid in will be refunded.

After this period, if cancelled, all of the money paid into the policy will be lost.

Upon cancellation, your life insurance cover will immediately cease.

Life insurance claims

Upon the death of a loved one, it's simple to make a claim with Legal & General.

Claims can be made via email (life.claims@landg.com) or phone (0800 137 101). Phone lines are open Monday-Friday 09:00-17:30.

Upon making a claim, you'll be required to provide the following information:

  • Policy number
  • Name of the deceased
  • Cause, date and place of death, (if known)
  • Who you are and your relationship to the deceased
  • The legal next of kin, (if known)

Compare Legal & General life insurance quotes

The cost of life insurance cover can vary significantly between different providers.

At Reassured, we can arrange your Legal & General policy on your behalf.

We can also provide you with a comparison against other insurers to ensure you secure the right policy, at the best price.

Our award-winning, FCA-regulated brokerage service is completely free of charge for you to use.

Why not get in touch today and protect your family's financial future, (whatever it may hold).


All information regarding Legal & General's product offerings is correct as of 01/11/2021. This is subject to change by Legal & General at any time


[1] https://www.legalandgeneral.com/insurance/life-insurance/

[2] https://www.legalandgeneral.com/insurance/over-50-life-insurance/

[3] https://www.legalandgeneral.com/adviser/protection/why-legal-and-general/claims-payment-record/

[4] https://www.abi.org.uk/news/news-articles/2021/05/record-amount-paid-out-to-help-families-cope-with-bereavement-ill-health-and-injury/

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