Legal and General was founded in 1836 and has since grown to be one of Europe’s biggest insurance and asset management companies, with over 10 million customers around the world. The company’s mission is to purpose is ‘to improve the lives of customers, build a better society for the long term, and create value for shareholders’.

If you buy your income protection through L&G, your policy is likely to come with the following features:

Back-to-work benefit If you become able to work while making an income protection claim, but can only go back part time (or to a different job with a lower salary), you’ll continue to receive a proportion of your income protection benefit.
Benefit guarantee Your income protection benefit will never fall below £1,500/month – as long as you bought at least that amount when you took out your policy. You normally need to be working a minimum number of hours to qualify for this benefit.
Death benefit If you die during the term of your income protection policy, your family will receive a lump sum of 12x your monthly income protection benefit.
Guaranteed insurability You’ll have the opportunity to increase your income protection cover after certain life changes. In an L&G policy, this includes: getting a significant pay rise; taking out a new mortgage or increasing your existing mortgage amount or term; and simply being able to review your cover at regular intervals.
Hospitalisation benefit Get 1/30th of your income protection benefit per night if you’re hospitalised for any reason during the waiting period of a claim (up to a maximum of £150 per night). This benefit is usually subject to a minimum and maximum number of consecutive nights spent in hospital.
Waiver of premium Most income protection policies come with this handy add-on that means you won't keep paying your monthly premiums if you're off work for medical reasons. You usually need to be off for a certain amount of time before you can claim this benefit.

Income protection policies often come with a number of extra benefits, which we’ve listed below. These features are ‘non-contractual’, which means they’re not related to the contractual conditions of your own policy, and are usually provided by a third party. Everyone is eligible for them – though they’re only made available if you buy your L&G policy through an adviser.

Nurse support services This service, provided by RedArc, gives you access to advice and support from trained nurses. This include bereavement support; mental health support; second medical opinions; carer support; help at home after hospital stays; and elderly care.
Rehabilitation support service Access to a specialist rehabilitation team who help you build a structured return-to-work programme. The service includes, triage, full rehab assessment, ongoing reviews, and file reviews – and is only available to L&G income protection customers.
Second medical opinion This service, provided by Healix Health Services Ltd., entitles you to a face-to-face or phone-based consultations with a consultant specialist for a second medical opinion, as well as a supporting report to be shared with your GP.
Advance payments for funeral costs An advanced payment of up to £10,000 to help cover your funeral costs if needed. The money goes straight to the funeral home/director. Only eligible if making a claim via your income protection policy’s death benefit.

In 2018, Legal & General paid out 95% of new and existing income protection claims, amounting to £1.1m. Income protection claims not being paid out are usually due to not meeting the insurer’s definition of incapacity or misrepresentation (i.e. providing inaccurate information during the application process).

The following prices are based on:

  • Healthy 25-year old male or female office worker
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £22 £27
26 weeks £19 £24
Short-term 13 weeks £10 £12
26 weeks £7 £9
  • Healthy 25-year old male or female plumber
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £41 £54
26 weeks £36 £44
Short-term 13 weeks £15 £20
26 weeks £12 £18
  • Healthy 35-year old male or female office worker
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £28 £40
26 weeks £26 £35
Short-term 13 weeks £12 £15
26 weeks £9 £12
  • Healthy 35-year old male or female plumber
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £54 £73
26 weeks £52 £58
Short-term 13 weeks £22 £32
26 weeks £18 £24

Long-term: Legal & General Income Protection
Short-term: Legal & General Income Protection 24-month
Quoted on 06/03/2020

It’s important to make an informed decision when buying income protection – which is where Anorak can help. We scan all the major insurers to match you to the products most suitable for you, based on your unique needs. We give you peace of mind about who to go with (especially if your most suitable policy is from an insurer you’ve not used before).

Good to know: Our recommendations are regulated, completely impartial – and free. And we also have a team of human advisers who can help over the phone, if you prefer.

This review is intended for informative purposes only and does not constitute advice.