Sainsbury's Life Insurance Over 50

Best life insurance for over 50

Life insurance for over-50s provides a fixed, tax-free cash payout. This payout is usually between PS1,000 to PS25,000 when you die.

Named beneficiaries (often family members) receive the money. They can use it to pay funeral costs or for other relatively minor expenses.sainsbury’s life insurance over 50.

There is no need to be screened for health or have any questions. The payouts are guaranteed as long as the payments are maintained. You don’t have to pay income tax or capital gains taxes on the proceeds.

Do you want to speak with us?

To make a phone application, please call 0800 733 3373. The lines are open Monday through Friday 08.30am-8pm, and Saturday 9am-1pm. You can monitor and record calls. When calling from the UK, calls are free to landline and mobile phones.

Live your best life

This is the right time to have the life you want. You can do the things that you always wanted if you have a small amount of cash to support your family after you pass away.

What is life insurance for over 50s?

Life insurance for over 50s provides coverage for your entire life and pays out a lump sum upon your death. This is a cost-effective and simple way to leave a small amount of cash for your loved ones when you die. This money could be used to pay for funeral expenses or to treat yourself to something special.

Why should you choose over-50s life insurance through Sainsbury’s Bank

Legal & General is one of the UK’s most reputable life insurance companies.
You can get coverage starting at PS5 per Month, depending on your age
PS100 of Nectar Points + Your points will be sent within 60 days after payment of 5 months’ premiums
Access to exclusive Legal & General Wellbeing Support Services

What are Legal & General Wellbeing Support Services (L&GWS)?

This is a package of telephone-based Wellbeing Support Services offered by RedArc Assured Limited. It provides expert advice and support from nurses starting from the date you take out coverage for the length of your policy.

Selecting your plan

There are two types of life insurance plans available for over 50s: Fixed Plan or Increasing Plan.

Fixed Plan

Fixed life insurance for over 50s is a simple way of helping plan for the future. This insurance is for people who wish to leave a set amount of money to their loved ones upon their death. sainsbury’s life insurance over 50, You can choose your premium based upon how much you are able to afford each month. The cost of the premium will not increase and it will be fixed. Keep in mind that inflation can reduce the purchasing power of your cash sum.

Increasing Plan

The Increasing Plan increases your cash sum in line with inflation, as measured by Retail Price Index (RPI). RPI is a measure of the changes in prices for everyday household goods like food and energy, and it shows how inflation has changed over time. This plan protects your cash sum from the inflation effects. This plan will see your premiums rise each year.

Benefits of life insurance for over 50s

You can make simple monthly payments so that when you die, the policy will pay a small cash amount to your beneficiaries. You have many benefits including:

You can get coverage starting at PS5 per month, depending on your age
You will be accepted if you are between 50-80 years old and a UK resident
No medical questions are required for life insurance. After one year, full coverage is available. Any premiums paid after the first year will be refunded if you die. If you are killed in an accident, however, your entire coverage will be paid
You can choose the level of coverage that suits you best – maximum cash amount PS10,000
After your 90th birthday you’ll no longer have to pay premiums and will continue to be covered for the rest your life.

Things you should know

It is important to understand the policy before you apply

These plans do not cover the entire funeral cost and are not guaranteed to do so.
They are not investment or savings products. There is no cash value to them unless there is a valid claim.
The total premiums you pay may be higher than the cash sum depending on your life expectancy.
Your coverage will be terminated if you fail to pay your premiums on time.
As long as your total cash sum for all of the plans is less than PS10,000, you can take out more than one plan. This includes any Legal & General Over 50s Plan that you may already have. Please refer to your Policy Terms & Conditions for the total amount assured value of any existing plans that were taken out before 25 Nov 2017.
If you have further questions about your lifestyle or medical condition, there may be products that can help.

Only a Increasing Plan

The Increasing Plan will review your cash sum each year according to the Retail Prices Index (RPI) changes. Each year, your premium will be reviewed. It will rise by 1.5 times the RPI change. You need to ensure that you are able to meet the increases in premiums over time. This will keep inflation at bay. RPI might not be able to keep up with future increases in funeral costs
The maximum increase in cash sum and premiums will increase by 10% and 10% respectively if RPI increases to more than 10%. The cash sum will not be affected if RPI is below or equal to 0.
You can choose to decline the increase after your annual review if you are worried that you won’t have the funds in the future. This will ensure that your cash sum remains the same as it was at the beginning, with inflation decreasing its purchasing power. In future years, you won’t have the ability to increase or decrease your cash sum.

Only Fixed Plan

Inflation will affect the purchasing power of your future cash sum.
Your cash sum will be reduced if you reduce your premiums
Flexible pricing allows you to lower your premiums if your plan has been in place for at least one year. The minimum premium is applicable.sainsbury’s life insurance over 50.

Legal & General Wellbeing Support Services Explained

You might need Wellbeing Support for a variety of reasons. Perhaps you want to have a friendly conversation after a diagnosis or help navigating the healthcare system. We want to help you as much as we can. These are just a few of the many ways Legal & General Wellbeing Support could help.

A serious illness is something you must deal with

Your nurse will provide support if you have been diagnosed with serious illness or need support for disability. This includes helping you to understand the diagnosis and providing advice on how to manage your illness or disability, as well as return-to-work coaching.

Support for the bereavement

It is hard to lose a loved ones. But you can count on our bereavement support to help. RedArc nurses are available to lend an ear, even if you have nothing to talk about.

Second Medical Opinion

RedArc offers face-to-face appointments with UK-based specialists to give you peace of mind after a diagnosis.

Support for mental health

Nurses can offer long-term support for those who are having problems with their mental health. They can also provide counselling, therapy sessions, and other support.

Carer support

Caring for an elderly or sick loved one can be difficult. You also need to consider your own health and well-being. RedArc offers practical and emotional support to carers who are looking for ways to improve their wellbeing.

Home assistance

While it’s one thing for a patient to be released from the hospital, the recovery phase can be difficult. RedArc nurses can provide advice and support over the telephone while you are at home.

Eldercare

RedArc can offer advice on how to help an elderly relative living alone or in a residential facility.sainsbury’s life insurance over 50.

Isolation and loneliness

There are many reasons why we may feel lonely, including the loss of a loved one or having to relocate from our home. These challenges should not be faced alone. RedArc’s Wellbeing Support offers a direct line to a RedArc nurse.

Expert counselling

Legal & General Wellbeing Support recognizes that no two people face the same problems. Specialized counselling is available to meet your specific needs.

Lifestyle and diet guidance

RedArc nurses are available to provide advice for healthy living, such as if you have a risk of having a stroke, heart attack or diabetes.

Customers who purchase a new Over 50s life insurance policy through Sainsbury’s Bank after January 13, 2020 can access Legal & General Wellbeing Support Services.

What amount of coverage do I need?

The few elements that will determine how much coverage you need will affect the amount of coverage you get. Consider how much you want to leave your family. Also, think about what you can afford each month now and in the near future.

Please ensure that you have read the entire Policy Summary before you submit your application.

You are responsible for ensuring that the policy suits your needs. For advice, please consult a financial advisor.

These are the terms and conditions of the offer

+ Collect PS100 Nectar Points
1) Only available for new policies over 50s. You cannot purchase through price comparison, cashback or voucher code sites.
2) We’ll add 20,000 points (worth PS100) to your Nectar account after you have paid 5 months of premiums. This will be done within 60 days.sainsbury’s life insurance over 50.
3) When you apply, we need your Nectar Card number
4) No more than two polices per household during any 12-month period will earn you points
Sainsbury’s Supermarkets Ltd will award points for this offer. There is no cash alternative.
6) We reserve all rights to cancel or change this offer at any time without prior notice