Legal & General Life Insurance Review

Legal & General Life Insurance is an insurance carrier based in Frederick, MD. The company was founded in 1836 and offers life insurance in 49 states (and Washington, DC). Life insurance is important for anyone who has loved who depend on them financially. It can also help with final expenses and burial costs.

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

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

Here is a brief description of the coverage Legal & General Life Insurance offers.

• Term Life Insurance - This is the simplest type of life insurance. It is 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 Insurance - These are term policies that have the same fixed premium and payment amount throughout the life of the policy.
• Decreasing Term Insurance- This type of term insurance has fixed premiums but the death benefit decreases over the life of the policy.
• Whole Life Insurance - Whole life insurance policies remain in force for the entire life of the policyholder provided premiums are paid.
• Universal Life Insurance - This type of 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 - 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 also offers the following policies:

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

How can you save money on a Legal & General Life Insurance life insurance policy?

When you ask for a quote with Legal & General Life Insurance, ask what policy discounts are available.

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

Each agency has its own standards and rating scale and a company's rating can change any day. It's a good idea to check the financial rating of an insurance company before you purchase a policy.

There are five main rating agencies. SuperMoney's financial strength rating is based, among other factors, on the average score from available ratings.

Legal & General Life Insurance scores an A+, SuperMoney's highest available rating.