Help to financially protect your loved ones. Get up to 32,000 Nectar points† when you take out a life insurance or decreasing life insurance policy before 28 February 2025.
That’s our best ever Nectar offer on life insurance and could be worth £160. The number of points you receive will depend on your premium.
Look after your loved ones
Choosing a life insurance policy is an important decision. After all, you want to feel reassured that your cover will provide financial protection for your family if you die during your policy term. So it’s worthwhile doing your homework. Our guide helps you understand how to find the most appropriate life insurance cover for your needs.
What is life insurance?
Life insurance is an insurance policy that can help with the financial burden of your death on your family if you die during the length of the policy.
Often, this is a cash sum that could help your family:
- Cover living expenses, bills, or leave them money as a gift
- Pay off any remaining mortgage repayments or mortgage balance
- Pay towards funeral expenses
- Pay off any outstanding bills and debts
It's important to remember that these policies are not savings or investment policies and have no cash value unless a valid claim is made.
Do I need life insurance?
People with families or a mortgage take out life insurance policies to provide financial protection for their loved ones.
To help you make a decision, ask yourself one important question. In the event of your death, would those who are financially dependant on you be able to cope? Would partners or children be able to continue paying mortgage repayments, rental costs, household bills, outstanding debts or funeral costs?
However, not everyone needs life insurance. If you don’t have any dependants or liabilities that you want taken care of, it’s possible that life insurance is not for you.
How does life insurance work?
As complicated as it might seem, life insurance is actually quite straightforward. Depending on your provider, you agree to pay monthly or annual premiums for the length of your life insurance policy. If you die during this time, a tax-free cash sum could be paid to your loved ones or named beneficiaries.
Which life insurance do I need?
There are different types of life insurance to choose from. It’s important to understand these differences so you can select the cover that works best for you.
Everyone needs different things from their insurance – that's life. Worry less about the ‘what ifs’ and get on with your day. Remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made. Compare our policies and pick the right cover for you.
Life Insurance
With Life Insurance, the amount of cover you have remains the same during the length of the policy. It could be used to help protect the family's lifestyle and everyday living expenses or help to protect a mortgage (interest only).
Decreasing Life Insurance
Decreasing Life Insurance is designed to help protect a repayment mortgage, so the amount of cover reduces roughly in line with the way a repayment mortgage decreases.
Add Critical Illness Cover
Critical Illness Cover is an optional extra that can be added for an additional cost when taking out life insurance. This cover could help ease the financial strain if you become critically ill. For more information on the conditions covered, read the guide to Critical Illness Cover.
Why choose a life insurance policy through Sainsbury’s Bank?
Help protect the ones you love by preparing for the future. With us you’ll get:
- Protection by the one of the UK’s largest life insurance providers, Legal & General
- Plus, Nectar members will get up to 32,000 Nectar points† as a thank you for taking out life insurance when its bought direct with us by 28 February 2025. The number of points awarded will depend on your monthly premium:
- If your monthly premium is under £8.50, we’ll give you 10,000 points, which could be worth £50
- If your monthly premium is £8.50 - £20.00, we'll give you 16,000 points, which could be worth £80
- If your monthly premium is £20.01 - £30.00, we'll give you 22,000 points, which could be worth £110
- If your monthly premium is over £30, we’ll give you 32,000 points, which could be worth £160
You'll receive your points within 60 days after you've paid 5 months' of premiums. To join Nectar, just download the app or register at nectar.com
Only choose a premium you can afford and the level of cover you require.
Life Insurance calculator
Not sure how much cover you need? This life insurance calculator will quickly help you work out how much cover you might need.
Your life insurance questions
For more information about how life insurance works, take a look at our FAQs page.
Existing customer?
Already a customer? Log in to your account.
More helpful life insurance guides
Joint life insurance guide – Find out everything you need to know about our joint life policy.
Accidental Death Benefit – Find out more about the Accidental Death Benefit that may be included with your life insurance policy.
For questions and quotes
Call 0800 027 7166 * | More phone options
Lines are open from 8.30am – 8pm, Monday to Friday and 9am – 1pm on Saturdays.
* Telephone calls may be recorded for security purposes and monitored under Legal & General's quality control procedures. Calls free from a landline and mobile if calling from the UK.
Offer Terms and Conditions
† Up to 32,000 Nectar points
1. This offer is only available when you get a quote and buy a new Sainsbury's Bank Life Insurance or Decreasing Life Insurance decreasing policy between 12 December 2024 and 28 February 2025. Purchases through price comparison, cashback, voucher code and similar sites are excluded.
2. Points will be awarded based on your monthly premium. You'll get:
• 32,000 points if your monthly premium is over £30,
• 22,000 points if your monthly premium is £20.01 - £30.00,
• 16,000 points if your premium is £8.50 - £20.00 or
• 10,000 points if your premium is under £8.50
3. Points will be added to your Nectar account after you’ve paid 5 months premiums, within the following 60 days.
4. You need to add your Nectar number to your application.
5. Points will be awarded on no more than 2 policies per household in any 12 month period.
6. Sainsbury's Supermarkets Ltd award the points from this offer. No cash alternative is available.
7. This offer is governed by English law and Sainsbury's Bank reserve the right to change or cancel it without notice.
Legal & General Assurance Society Limited Registered in England and Wales No. 00166055. Registered office: One Coleman Street, London, EC2R 5AA. Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.