Sainsbury’s life insurance review

Life insurance provides financial security for your loved ones. Find out how Sainsbury’s life insurance works and if it’s for you here.

Updated

Sainsbury's

If your family relies on you for support, it may be time to consider getting life insurance. Sainsbury’s offers standard life insurance, as well as critical illness cover and specialised insurance for those over 50. Existing Sainsbury’s customers can also get bonus Nectar points with a valid policy.

See how Sainsbury’s life insurance compares below.

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What is Sainsbury’s?

Sainsbury’s is the UK’s second largest supermarket chain and it also offers banking, financial and insurance services through Sainsbury’s Bank. It offers policies to cover car, home, travel and pet insurance, as well as life insurance.

Sainsbury’s life insurance is underwritten by Legal & General and its level term insurance has been given a 4-star rating by Defaqto.

What types of life insurance does Sainsbury’s offer?

Sainsbury’s offers both level term and decreasing term life insurance, as well as insurance for those over 50. Customers can also add critical illness cover as an optional extra to their standard policy.

  • Sainsbury’s life insurance

A standard term life insurance policy, this offers a set level of cover throughout the insurance term. Your premiums remain the same each month, as does the size of the payout your family receives in the event of your death.

  • Sainsbury’s decreasing life insurance

This is another type of term insurance that provides ongoing cover for an agreed period of time. However, unlike with level term cover, the size of your premiums and insurance payout reduces over time.

Decreasing life insurance is often used to cover a large outstanding debt, such as a mortgage, which is paid off over time. The size of the insurance amount decreases in line with the size of the remaining mortgage debt.

  • Sainsbury’s over 50s life insurance

Sainsbury’s also offers insurance policies specifically for those over 50 years old, with a choice of either fixed or increasing cover. Under fixed cover, your payout and premiums remain the same, whereas increasing cover will rise with the Retail Prices Index to protect against inflation.

  • Sainsbury’s serious illness cover

This is an additional extra that can be added to your insurance policy to provide extra cover against serious illnesses and conditions. You’ll be paid out when you are diagnosed with an illness and can then use the money to cover treatment costs, living expenses or to replace your income.

Compare Sainsbury’s policies

Data indicated here is updated regularly
Name Product Age range at application Cover range Term Pays out Joint cover
18-77
Level term and decreasing options available
ife Insurance could pay out a cash sum should you die (or be diagnosed with a terminal illness with a life expectancy of less than 12 months
Optional
Sainsbury's Decreasing Life insurance
Sainsbury's Decreasing Life insurance
18-74
Not specified
5 to 50 years (must end before 90 years old)
If you die or get a terminal illness during the cover period
Yes
Sainsbury's Over 50s life insurance
Sainsbury's Over 50s life insurance
50-80
Not specified
N/A
If you die or get a terminal illness during the cover period
No
Sainsbury's Critical Illness Cover
Sainsbury's Critical Illness Cover
18-67
Not specified
2 to 40 years (must end before 70 years old)
If you’re diagnosed with one of six serious illnesses or conditions
No
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Benefits of Sainsbury’s life insurance

  • Option of level or decreasing cover
  • Specialised over-50s cover
  • Optional critical illness cover
  • Long policy terms
  • Nectar point bonuses

Drawbacks of Sainsbury’s life insurance

  • Does not offer whole-of-life insurance
  • Some illnesses may not be covered

Sainsbury’s life insurance exclusions

Your insurance claim will not be covered in the following situations:

  • You did not provide complete, accurate and true information
  • You commit suicide within the first 12 months
  • If you fail to make a payment after more than 30 days

What’s the claims process for Sainsbury’s life insurance?

You can make a claim by calling Sainsbury’s on 0800 137 101 or by mail. You will need to provide the policy schedule, death certificate and name of claimant.

Frequently asked questions

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