Legal and General Life Insurance is one of the largest insurance providers in the UK. Founded in 1836, the company has been providing life insurance policies for over 180 years. The company offers a range of life insurance policies, including term life insurance, whole of life insurance, and critical illness cover.
Legal and General Life Insurance is committed to providing affordable and flexible insurance policies to meet the needs of their customers. They offer policies that are designed to provide financial security and peace of mind to individuals and families. The company has a strong reputation for providing excellent customer service and has won several awards for their commitment to customer satisfaction.
Whether you are looking for a policy to cover your mortgage, protect your family’s financial future, or provide for your loved ones in the event of your death, Legal and General Life Insurance has a policy to suit your needs. With a range of policies to choose from and competitive pricing, Legal and General Life Insurance is a trusted choice for life insurance in the UK.
Overview of Legal & General Life Insurance
Legal & General Life Insurance is a leading provider of life insurance in the UK. The company has been in operation since 1836 and has a strong reputation for providing reliable and trustworthy insurance products.
Legal & General offers a range of life insurance policies to suit different needs and budgets. These include term life insurance, whole of life insurance, and critical illness cover. Customers can choose the level of cover they need and the length of time they want to be covered for.
One of the key benefits of Legal & General Life Insurance is the flexibility it offers. Customers can choose to pay their premiums monthly or annually, and they can also choose to add additional benefits to their policy, such as accidental death cover or children’s critical illness cover.
Legal & General also offers a range of online tools and resources to help customers manage their policies and make informed decisions about their insurance needs. These include a life insurance calculator, which can help customers work out how much cover they need, and a policy document library, which provides easy access to important policy documents and information.
Overall, Legal & General Life Insurance is a reliable and trustworthy provider of life insurance in the UK. With a range of policies and flexible options to suit different needs and budgets, it’s a popular choice for customers looking for peace of mind and financial security.
Types of Policies Offered
Legal and General Life Insurance offers a range of policies to suit the needs of different individuals. Here are the three main types of policies offered by Legal and General:
Term Life Insurance
Term life insurance is a policy that provides coverage for a set period of time, typically ranging from 10 to 30 years. If the policyholder dies during the policy term, their beneficiaries receive a lump sum payout. This type of policy is ideal for those who want affordable coverage for a specific period of time, such as to cover the cost of a mortgage or children’s education.
Whole Life Insurance
Whole life insurance is a policy that provides coverage for the entire life of the policyholder, as long as premiums are paid. This type of policy offers a guaranteed payout to beneficiaries upon the policyholder’s death, regardless of when that may be. Whole life insurance is often used for estate planning or to provide a legacy for loved ones.
Universal Life Insurance
Universal life insurance is a flexible policy that allows policyholders to adjust their premiums and death benefit as their needs change. This type of policy offers both a death benefit and a savings component, which can be used to accumulate cash value over time. Universal life insurance is ideal for those who want the flexibility to adjust their coverage and premiums as their financial situation changes.
Legal and General Life Insurance offers a variety of policies to meet the diverse needs of its customers. Whether you need coverage for a specific period of time or want a policy that provides lifelong protection, Legal and General has a policy that can meet your needs.
Policy Features and Benefits
Legal and General Life Insurance offers a wide range of policy features and benefits that cater to the needs of its customers. The following are some of the key features and benefits of the policy:
Flexible Premiums
Legal and General Life Insurance offers flexible premium options that allow customers to choose the premium amount and payment frequency that suits their budget and financial goals. Customers can choose to pay their premiums monthly, quarterly, semi-annually or annually. This flexibility ensures that customers can choose a premium that fits their budget and financial goals.
Death Benefit Options
Legal and General Life Insurance offers a range of death benefit options to its customers. Customers can choose a level death benefit, which remains the same throughout the policy term, or a decreasing death benefit, which decreases over time. The decreasing death benefit option is ideal for customers who want to cover a specific debt, such as a mortgage.
Investment Components
Legal and General Life Insurance policies offer investment components that allow customers to grow their wealth over time. Customers can choose from a range of investment options, including mutual funds, stocks, and bonds. These investment options are managed by professional fund managers, ensuring that customers’ investments are in safe hands.
Legal and General Life Insurance policyholders can also access a range of additional benefits, including accidental death benefit, terminal illness benefit, and waiver of premium benefit. These benefits provide additional financial security to policyholders and their families in the event of an unexpected event.
Overall, Legal and General Life Insurance policies offer a comprehensive range of features and benefits that cater to the diverse needs of its customers.
Application Process
Legal and General Life Insurance offers a straightforward and easy-to-follow application process. The process can be completed online or by phone, and typically takes less than 30 minutes to complete.
Eligibility Criteria
To be eligible for Legal and General Life Insurance, applicants must meet the following criteria:
- Be a UK resident
- Be aged between 18 and 75 years old
- Have not been diagnosed with a terminal illness
- Have not been declined life insurance in the past
Required Documentation
Applicants will need to provide the following documentation when applying for Legal and General Life Insurance:
- Proof of identity (passport or driving licence)
- Proof of address (utility bill or bank statement)
- Details of any medical conditions or pre-existing health conditions
Underwriting Process
Once an application has been submitted, Legal and General Life Insurance will carry out an underwriting process to determine the level of cover that can be offered. This process typically involves a medical questionnaire and may require additional medical information from the applicant’s GP.
Legal and General Life Insurance aims to provide a decision within 10 working days of receiving an application. In some cases, additional medical information may be required, which could delay the decision-making process.
Overall, the application process for Legal and General Life Insurance is straightforward and easy to follow. The company aims to provide a quick decision on cover and offers a range of options to suit different needs and budgets.
Claims and Payouts
Filing a Claim
Filing a claim with Legal and General Life Insurance is a straightforward process. To begin the process, the policyholder or their beneficiary should contact the claims department by phone or email. The claims department will then send a claims pack that includes all the necessary forms and instructions.
The policyholder or beneficiary will need to provide relevant information such as the policy number, the cause of death, and any supporting documents. Legal and General Life Insurance aims to process claims as quickly as possible, and the claims department will keep the policyholder or beneficiary informed throughout the process.
Claim Assessment
Once the claims department receives all the necessary information, they will assess the claim to determine its validity. Legal and General Life Insurance has a team of experienced claims assessors who will review the claim and any supporting documents to ensure that it meets the policy’s terms and conditions.
If the claim is valid, Legal and General Life Insurance will pay out the sum assured to the beneficiary. If the claim is not valid, the claims department will explain why and provide the policyholder or beneficiary with the opportunity to appeal the decision.
Payout Timelines
Legal and General Life Insurance aims to pay out valid claims as quickly as possible. However, the payout timeline can vary depending on the complexity of the claim and the information provided. In general, claims are paid out within 10 working days of the claims department receiving all the necessary information.
If the claim is more complex, such as in cases where additional medical information is required, the payout timeline may be longer. Legal and General Life Insurance will keep the policyholder or beneficiary informed of any delays and provide regular updates on the progress of the claim.
Customer Service and Support
Legal and General Life Insurance offers exceptional customer service and support to its policyholders. The company has a dedicated team of customer service representatives who are available to answer questions and provide assistance throughout the policy term.
Customers can reach the customer service team via phone, email, or online chat. The company also has a comprehensive FAQ section on its website that provides answers to common questions.
Legal and General Life Insurance is committed to providing prompt and efficient service to its customers. The company has a service level agreement in place that outlines its response times for customer inquiries and claims.
In addition to its customer service team, Legal and General Life Insurance also offers a range of online tools and resources to help policyholders manage their policies. These include online account management, policy documents, and claims tracking.
Overall, Legal and General Life Insurance’s customer service and support is top-notch. The company’s commitment to providing prompt and efficient service, combined with its range of online tools and resources, make it a great choice for anyone looking for reliable life insurance coverage.
Managing Your Policy
Online Account Access
Legal and General Life Insurance offers its policyholders the convenience of managing their policies online. This service is available 24/7 and allows you to access your policy information, make premium payments, and view your policy documents. To access your account, simply log in to the Legal and General website using your username and password.
Policy Amendments
At times, you may need to make changes to your policy. Legal and General allows you to make policy amendments such as increasing or decreasing your coverage, changing your payment frequency, or updating your personal information. To make these changes, you can contact Legal and General’s customer service team via phone or email.
Beneficiary Changes
If you need to change the beneficiary on your policy, Legal and General makes it easy to do so. You can contact their customer service team to request the change, or you can complete a beneficiary change form and submit it to Legal and General. It is important to keep your beneficiary information up to date to ensure that your loved ones receive the benefits they are entitled to in the event of your passing.
Legal and General’s policy management options make it easy for policyholders to stay on top of their coverage and make changes as needed. With their online account access, policy amendments, and beneficiary change options, you can rest assured that your policy is tailored to your needs and preferences.
Legal & General Company Information
Company History
Legal & General is a British multinational financial services company, founded in 1836. The company started as a legal firm, providing life assurance and legal services to the general public. Over the years, the company has expanded its operations and now offers a wide range of financial products and services, including life insurance, pensions, investments, and mortgages.
Financial Strength Ratings
Legal & General has consistently been rated highly by independent rating agencies. The company has an ‘A+’ rating from Standard & Poor’s and an ‘A1’ rating from Moody’s. These ratings reflect the company’s strong financial position and its ability to meet its obligations to policyholders.
Market Presence
Legal & General is one of the largest providers of life insurance in the UK, with over 10 million customers. The company has a strong presence in the pensions and investment markets, and also offers a range of other financial products and services. Legal & General has operations in several countries, including the US, Europe, and Asia, and is committed to expanding its international presence in the coming years.
In summary, Legal & General is a well-established financial services company with a strong reputation for financial strength and customer service. The company’s history, financial strength ratings, and market presence all demonstrate its ability to provide high-quality products and services to its customers.
Comparisons to Other Insurers
Legal and General Life Insurance offers a range of policies to suit different needs and budgets. Here are some comparisons to other insurers in terms of policy features and pricing.
Policy Features
Legal and General offers a range of policy features such as terminal illness cover, critical illness cover, and accidental death benefit. These features are included in most of their policies as standard. In comparison, some other insurers may charge extra for these features or may not offer them at all.
Pricing
Legal and General’s pricing is competitive when compared to other insurers. They offer policies at different price points to suit different budgets. However, it’s important to note that pricing can vary depending on factors such as age, health, and lifestyle.
Customer Service
Legal and General has a good reputation for customer service. They offer a range of customer support options such as phone, email, and live chat. In addition, they have a helpful online portal where customers can manage their policies and make claims.
Financial Strength
Legal and General is a financially strong company with a good reputation in the insurance industry. They have been in business for over 180 years and have a strong track record of paying out claims. In comparison to other insurers, Legal and General has a strong financial rating, which gives customers peace of mind that they are dealing with a reliable insurer.
Overall, Legal and General Life Insurance offers a range of policy features and pricing options that are competitive when compared to other insurers. Their strong reputation for customer service and financial strength make them a reliable choice for those looking for life insurance.
Frequently Asked Questions
Legal and General Life Insurance is a popular choice for those looking for financial protection for their loved ones. Here are some frequently asked questions about Legal and General Life Insurance:
Who can apply for Legal and General Life Insurance?
Legal and General Life Insurance is available to UK residents aged between 18 and 75 years old. However, the maximum age at which you can apply for certain types of policies may vary.
What types of life insurance policies does Legal and General offer?
Legal and General offers a range of life insurance policies, including term life insurance, whole of life insurance, and critical illness cover. Term life insurance provides coverage for a set period of time, while whole of life insurance provides coverage for the rest of your life. Critical illness cover provides financial protection if you are diagnosed with a serious illness.
How much coverage can I get with Legal and General Life Insurance?
The amount of coverage you can get with Legal and General Life Insurance depends on your individual needs and circumstances. You can choose the amount of coverage you need, and the premium you pay will be based on factors such as your age, health, and lifestyle.
How do I make a claim with Legal and General Life Insurance?
To make a claim with Legal and General Life Insurance, you or your loved ones need to contact Legal and General’s claims team. They will guide you through the process and provide you with all the information you need to make a claim.
Can I cancel my Legal and General Life Insurance policy?
Yes, you can cancel your Legal and General Life Insurance policy at any time. However, if you cancel your policy, you will no longer be covered, and you will not receive any refund of premiums paid.
Customer Reviews and Testimonials
Legal and General Life Insurance has received a considerable number of customer reviews and testimonials from satisfied customers. These reviews and testimonials are a testament to the quality of service and products offered by the company.
Many customers have praised the company’s customer service, citing the helpfulness and professionalism of the representatives they spoke with. Customers have also praised the company’s competitive prices and the ease of purchasing a policy online.
In addition to positive customer reviews, Legal and General Life Insurance has received high ratings from independent rating agencies. The company has been awarded an A+ rating from the Better Business Bureau and an A rating from A.M. Best.
Overall, Legal and General Life Insurance has a strong reputation in the industry and among its customers. Its commitment to providing quality products and excellent customer service has earned it high praise and ratings.
Contact Information
For any questions or concerns regarding Legal and General Life Insurance, the company offers several ways to get in touch with their customer service team.
Customers can call the company’s toll-free number at 1-800-638-8428 to speak with a representative. The customer service team is available Monday through Friday from 8:00 am to 8:00 pm Eastern Time.
In addition to phone support, Legal and General also offers online support through their website. Customers can access their account information, make payments, and submit claims by logging into their account on the company’s website.
For those who prefer to communicate through mail, Legal and General provides a mailing address for their customer service team. The address is:
Legal and General America 3275 Bennett Creek Avenue Frederick, MD 21704
Customers can also reach out to Legal and General through their social media channels. The company has active accounts on Facebook, Twitter, and LinkedIn where customers can send direct messages or post comments.
Overall, Legal and General offers multiple options for customers to get in touch with their customer service team. Whether it’s through phone, online, mail, or social media, customers can be confident in receiving knowledgeable and clear support from the company.