Legal & General relevant life insurance

Legal & General is one of the UK’s best-known protection insurers and has been providing relevant life insurance for many years.

Its relevant life plan is designed for employers who want to provide tax-efficient life cover for an employee or company director, with the policy typically written into a relevant life trust.

Legal & General is regularly included by independent financial advisers when comparing relevant life insurance providers.

What does Legal & General’s relevant life plan offer?

Legal & General’s policy includes a range of features designed for businesses and their employees.

Depending on the policy selected, these may include:

• life cover
• level or increasing (index-linked) cover
• terminal illness cover
• online trust documentation with signature-free processing
• Accidental Death Benefit while an application is being underwritten, subject to the policy terms
• Increasing Your Cover option, allowing increases following certain life or business events without further underwriting, subject to the policy terms
• Continuation Cover, allowing eligible employees to convert the policy to a personal plan or transfer cover if they leave the business, subject to the policy terms
• Access to Wellbeing Support services (provided by RedArc) for eligible policyholders

The exact benefits available will depend on the policy selected and the outcome of the underwriting process.

How are applications assessed?

Like other major insurers, Legal & General considers each application individually.

Premiums are typically based on factors including:

• age
• smoking status
• medical history
• occupation
• the level of cover requested
• the policy term

Many applications can be processed electronically, although some may require additional medical information before a final decision is made.

Who might Legal & General relevant life insurance suit?

Legal & General is often considered by limited company directors looking for an established insurer with a long track record in the UK protection market.

It is frequently included in adviser recommendations alongside other leading relevant life providers.

Whether it represents the right choice will depend on the applicant’s personal circumstances, the level of cover required and the insurer’s underwriting decision.

Potential advantages

Reasons advisers may include Legal & General when obtaining relevant life quotations include:

• one of the UK’s largest protection insurers
• long-established business protection proposition
• Continuation Cover during underwriting, subject to eligibility
• Wellbeing Support services for eligible customers
• online trust documentation
• widely available through independent financial advisers

Things to consider

Choosing relevant life insurance is about more than finding the cheapest premium.

Other points worth considering include:

• the amount of cover available
• underwriting requirements
• trust arrangements
• policy features
• policy terms and conditions
• the overall suitability of the policy

Legal & General will not necessarily offer the lowest premium in every case, which is why many advisers obtain quotations from several insurers.

Should you choose Legal & General?

Legal & General is one of the leading providers in the UK relevant life insurance market and is regularly recommended by financial advisers.

Rather than focusing on one insurer from the outset, many directors ask an adviser to obtain quotations from several providers before deciding which policy best meets their requirements.

Compare relevant life insurance quotes

Every insurer assesses applications differently, so it is often worth considering more than one provider.

Our independent financial adviser partner, Broadbench Ltd (FCA No. 590288), can obtain quotations from leading insurers and help you choose a policy that meets your requirements.

Get a free quote More Providers