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Life Insurance General FAQs

Life Insurance General FAQs

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What are the different types of life insurance?

Two types of life insurance are available: Life Insurance and Decreasing Life Insurance.
Life insurance could pay out a cash sum if you die during your policy term. Your monthly payments and the cash sum won’t change over time (unless you change your policy). This could be used to help pay off an interest only mortgage or to help protect your loved ones financially.
Decreasing life insurance is designed to help protect a repayment mortgage. Your monthly payments will stay the same but the amount you’re covered for – and any potential pay-out – will decrease over the term of your policy, roughly in line with the way a repayment mortgage decreases.

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Sainsbury's Supermarkets Ltd is an appointed representative of Sainsbury’s Financial Services Ltd.

Sainsbury’s Money is a trading name of Sainsbury’s Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority (Register no 184514). Sainsbury’s Financial Services Ltd is registered in England and Wales (No. 3279730). Registered Office: 33 Charterhouse Street, London, EC1M 6HA.

Sainsbury's Financial Services act as an introducer to Legal & General Assurance Society Limited who is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register no 117659).Legal & General Assurance Society Limited is registered in England and Wales (No. 00166055). Registered Office: One Coleman Street, London, EC2R 5AA.