Legal & General Life Insurance review
Best Value Life Cover
One of the UK's largest life insurers. Level, decreasing, and increasing term life cover. Critical illness add-on. Competitive premiums.
Overview
Legal & General is one of the largest and most trusted life insurers in the UK, with a history stretching back to 1836. They offer some of the most competitively priced term life insurance available, with a claims payout rate exceeding 95%.
Who Is Legal & General Best For?
- Cost-conscious families — consistently among the cheapest premiums
- Mortgage holders — decreasing term cover starting from just a few pounds per month
- Those wanting straightforward cover — no complexity, no unnecessary add-ons
- Anyone wanting a trusted name — nearly 200 years of insuring UK lives
Why Legal & General Is Often the Cheapest
L&G operates at massive scale — millions of policies — which allows them to spread risk and keep premiums low. They are often the cheapest quote on comparison sites for standard term life insurance, particularly for non-smokers in good health.
Product Range
| Product |
Description |
Starting From |
| Level term |
Fixed payout amount |
~£5/month |
| Decreasing term |
Payout reduces (matches mortgage) |
~£3/month |
| Increasing term |
Payout increases with inflation |
~£7/month |
| Critical illness |
Lump sum on serious diagnosis |
~£15/month |
| Income protection |
Monthly income if unable to work |
Varies |
If you are protecting a repayment mortgage, decreasing term is cheaper because the payout shrinks as your mortgage balance falls. If you are protecting family income (so they can maintain their lifestyle), level term is better — the payout stays the same regardless of when you die.
Critical Illness Add-On
Adding critical illness cover means L&G pays out a lump sum if you are diagnosed with one of 46 specified conditions, including:
- Cancer (including early-stage)
- Heart attack
- Stroke
- Multiple sclerosis
- Kidney failure
Critical illness roughly triples your premium compared to life-only cover. But 1 in 2 people born after 1960 will be diagnosed with cancer in their lifetime. The question is not whether it is expensive — it is whether you can afford not to have it.
What Legal & General Lacks
- Online application can be lengthy — detailed medical questions
- No whole-of-life product — term insurance only
- Pre-existing conditions — can increase premiums or lead to exclusions
- Customer service — primarily phone-based, no app for policy management
The Bottom Line
Legal & General is the go-to choice for affordable life insurance in the UK. If you want straightforward term cover at the lowest possible price from a highly trusted insurer, L&G should be your first quote. Add critical illness if your budget allows — it is the cover you hope you never need but would be grateful to have.
Pros
- Very competitive premiums
- Level, decreasing, and increasing options
- Critical illness cover available
- Large, established insurer
- Payout rate over 95%
Cons
- Medical underwriting required
- Online application can be lengthy
- Limited additional perks
- No whole-of-life product
- Customer service by phone mainly