Legal & General Life Insurance Review

Legal & General Life Insurance is a life insurance carrier based in Frederick, MD. The company was founded in 1836 and offers life insurance products in 49 states (and Washington, DC).

What types of life insurance products does Legal & General Life Insurance offer?

Life insurance companies typically offer a wide variety of life insurance options. One of the best ways to save money on life insurance products is to avoid unnecessary coverage. Only purchase life insurance policies and riders you actually need.

Here is a brief description of life insurance options Legal & General Life Insurance offers.

• Term Life Insurance - This is the simplest type of life insurance policy. Term life insurance policies are payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years. Legal & General Life Insurance offers term lengths ranging from 10 to 40 years.
• Level Term Life Insurance - These are term life insurance policies that have the same fixed premium and payment amount through the duration of the life insurance policy.
• Decreasing Term Life Insurance- These types of term life insurance policies has fixed premiums but the death benefit decreases over the duration of the term life insurance policy.
• Whole Life Insurance - Whole life insurance policies remain in force for the policyholder's entire life, provided premiums are paid. They have a tax deferred cash value, meaning the cash value will not be taxed until funds are withdrawn.
• Universal Life Insurance - This type of universal life insurance policy guarantees a fixed death benefit and an investment account. The cash value of the investment account will vary depending on the portfolio's performance.
• Variable Universal Life Insurance - These types of universal life insurance policies provides the most flexibility when it comes to investing the cash value of a universal life policy in separate accounts with "variable" values.

As well as the basic coverage types mentioned above, Legal & General Life Insurance company also offers the following life insurance policies:

• Guaranteed Issue Life Insurance - These whole life insurance policies offer a cash death benefit to the beneficiary. All coverage applications are approved regardless of health concerns. The catch is that these life insurance policies usually have lower death benefits and higher than normal premiums.
• Final Expense - Even bare-bones funerals can cost thousands of dollars. These whole life insurance policies, also known as burial insurance, cover funeral and burial costs.

What is the financial strength rating of Legal & General Life Insurance?

The financial strength rating of life insurance companies scores its ability to pay contracts and life insurance policies. SuperMoney gives Legal & General Life Insurance an A+, which is the highest available rating we give to life insurance companies.

SuperMoney's financial strength rating is primarily based on the average score from insurance rating agencies.