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Life Insurance General FAQs

Life Insurance General FAQs

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What happens if I cancel my policy and I decide I want to reinstate it when my financial situation improves and it takes longer that the 60 day grace period?

We would advise you to contact us to discuss your situation before cancelling. You can reinstate your policy after 60 days, however we would advise you to contact us to discuss your situation.

After the 60 day grace period you may need to answer some health and lifestyle questions (called a Declaration of Health), plus you’ll need to repay any missed premiums and reinstate a payment method.

Your policy may be cancelled 90 days after your first missed premium. If this is the case you’ll need to apply for a new policy. The underwriting process will include disclosure of any new lifestyle or medical issues that may have occurred since you took out your original policy.

Please note, life insurance typically gets more expensive as you get older or if your circumstances change, therefore you may end up paying more for a new policy.

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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.