Cover from just
£6 a month
(this depends on your circumstances).
97% of life claims
were paid by Legal & General in 2019
(based on all Life Insurance and Over 50s Life Insurance).
£75 M&S or Amazon eGift card to say thanks for getting a life insurance policy before 31 Aug 2021.
(Available after your policy’s been live for 6 months and your payments are up to date. T&Cs apply).
Why should I get Decreasing Life Insurance?
Try to imagine how your family would cope - emotionally and financially - if you suddenly weren't around. Hardly bears thinking about does it? But however hard it may be, it's important to consider - especially if you want to help keep a roof over their head should the worst happen.
Decreasing Life Insurance could pay out a cash lump sum if you were to pass away during the length of the policy. The amount of cover reduces roughly in line with the way a repayment mortgage decreases. This could help your loved ones to cover the costs of a repayment mortgage and stay in the home they love.
Decreasing Life Insurance
Find out how you could help protect a repayment mortgage.
- This could pay out a cash sum during the policy if you die, or are diagnosed with a terminal illness where life expectancy is less than 12 months. The money could go towards paying off your mortgage
- You choose how much cover you’d like and how long you want the policy to run for
- Your monthly premium is fixed for the length of the policy, but the amount of cover will reduce (roughly in line with the way a repayment mortgage decreases)
- You can take out a policy in joint or single names
- You can add Critical Illness Cover for an extra cost when taking out your policy(see below)
- You won’t be covered if within the first year of the policy you die as result of suicide or intentional and serious self-injury, or an event where in our reasonable opinion, you took your own life.
- You won't be covered if your terminal illness does not meet our definition. See the Policy Booklet PDF for more information.
- You won't be covered if your payments aren’t up to date.
- When you first take out the policy you will have the opportunity to cancel. If you cancel within 30 days, we’ll refund any premiums you’ve paid. If you cancel the policy at a later stage, you will not get any money back.
Critical Illness Cover
You could add this to your life insurance to help minimise the financial impact of a critical illness on you and your family.
Decreasing Life Insurance
Please remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.
If your life insurance is to cover your mortgage, your policy may not completely pay off your outstanding mortgage unless you make sure your amount of cover is adjusted to match any new mortgage arrangements.
With Decreasing Life Insurance, you must also check that the interest rate on your mortgage does not become higher than the rate applied to the policy. The rate will be shown in your Personal Quote or the Policy Booklet Please read the key documents below before you apply.
Please note that Legal & General will share your name, address, product type and sum assured information with Sheilas' Wheels for the purposes of commercial reporting and partnership administration. By proceeding to purchase, you agree to this information being shared with Sheilas' Wheels.
eGift card Offer Terms & Conditions
- This offer is available to customers who buy Legal & General Life Insurance or Decreasing Life Insurance (with or without Critical Illness Cover) directly via the Sheilas' Wheels website or over the phone on 0800 008 3052 on or before 31st August 2021.
- The eGifts available to choose from are:(a) £75 Amazon.co.uk eGift card* (b) £75 M&S eGift card**.
- You will be eligible for your eGift card when your policy has been live for 6 months, provided you haven't cancelled your policy and your payments are fully up to date.
- A letter or email will be sent to you with details of how to redeem your eGift card, please allow 30 days from your policy start date for delivery of this communication.
- If you have previously held and cancelled a Legal & General Life Insurance or Decreasing Life Insurance policy (with or without Critical Illness Cover) within the last 18 months, you will not be eligible for this offer.
- Legal & General reserves the right to cancel your Legal & General Life Insurance or Decreasing Life Insurance policy or your eligibility for an eGift card should we discover or have a reasonable suspicion that the terms and conditions of this offer are being abused.
- This offer is limited to one eGift card per policy sold.
- You have twelve months from your policy start date to claim your eGift card or you will not be eligible for this offer.
- The incentive provider could be changed but the monetary value of this offer will not change.
- No cash alternative will be offered.
- This promotion is managed by MLP, The Cowshed, Walnut Tree Farm, Lower Stretton, Warrington WA4 4PG on behalf of Legal & General.
- For further information or any queries in relation to this voucher offer, please call MLP on 01565 747 706 or email them at [email protected]
- Promoter: Legal & General, Knox Court, 10 Fitzalan Place, Cardiff CF24 0TL.
*Restrictions apply, see amazon.co.uk/gc-legal
**Cannot be exchanged for cash or used to pay for M&S Bank services, products or outstanding card balances, made to measure shirts, personalised cards, Lunch to Go, M&S Energy or to buy another gift card or eGift card.