Advantages: O.K. if you use it as a means of saving Disadvantages: If you thought it would pay of your mortgage, chances are it will not.
...my Insurance company which is Legal and General Assurance, informing me there may be a shortfall at the end of the policy term. It gave you average growth rates of 4, 6 and 8%. On their figures, the worst scenario I could expect would be an £18,600 shortfall at a 4% growth rate,(not pennies you must admit).
Having looked into the matter further, I found that Endowements were growing at a lower rate that 4% thus meaning the figure could be much higher.
... ...personal forecast at the "true" current growth rate. What I recieved was just a copy of the rates I already had, plus the surrender value of my policy. It did not enlighten me to the final projected shortfall figure.
Of course I complained, but was told that they only had to give figures in line with ligislation. The final correspondence I received, for the first time, said that it was advisable to take measures to counteract any shortfall there ...
jewels 01.07.2001
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Ciao members have rated this review on average: very helpful Review of Legal & General Assurance Society Ltd
Advantages: fast quotes - helpful staff - easy to read paperwork Disadvantages: hidden costs and loadings to premiums - time to process - poor knowledge of medical underwriting
...of quotes came back and Legal and General were the cheapest and I was happy that they were a company I had heard of before, even if it was via a Dave Gorman programme! They quoted £7.79 per month and I was a happy bunny. I duly printed off the application forms and quote and proceeded to answer 5 pages of questions relating to my family medical history to how much I drink and smoke not forgetting to include any pre-existing medical conditions. The ... ...and nothing was forthcoming from Legal & General so I called them. They had no record of my application but the staff were helpful and the phones were answered quickly. They took my details, said they would check with underwriting and call back that day - which they did to inform me that due to my "blood pressure problem" I would have to be medically underwritten and that they would be writing to my doctor in due course. I started to get concerned ...
ladyboymondaytofriday 26.03.2006
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Ciao members have rated this review on average: very helpful Review of Legal & General Assurance Society Ltd
Advantages: Cheap premiums - for my level of cover Disadvantages: None
...a month from anyone.
Legal and General quickly stood out as not only one of the cheapest monthly premiums, but it also stood out as the most famous name in my shortlist. I’m not saying “famous = reputable”, necessarily, but it did help me to make my decision.
The application process was incredibly easy, and all of it was carried out online.
I had to sign a form which arrived in the post as part of the final agreement, but other than that it all ... ...the service I received from Legal and General.
*** Ethical considerations ***
I always have a problem with big financial institutions, i.e. excluding mutual organisations, and had expected a company like Legal and General to be not very impressive on the ethical stakes. When I looked into it, they did relatively well on this score. Legal and General apparently has invested in the Indonesian logging (hardwood) industry – not something I wish to ...
rsmith 20.01.2004
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Ciao members have rated this review on average: very helpful Review of Legal & General Assurance Society Ltd
Advantages: Better to know in advance that you may have a problem Disadvantages: Not necessarily the whole picture.
I have recently received a rather upsetting letter from my endowment provider informing me of a "potential" shortfall in my maturity value.
I contacted L&G directly on a dedicated helpline and was told they could not actually give me advice but could only give me factual information. Whilst very friendly, I felt I needed more information.
I contacted various Independent Financial Advisers and met up with one who sounded very professional.
He gave ... ...shortfall. TRUE, due to recent market conditions, expected investment returns are likely to be lower than those achieved historically.
TRUE, the rates used for the projections at the time were fairly ambitious in light of current market conditions.
TRUE, the adviser that sold me the policy did earn a lot of commission.
FALSE, my policy is a bad one. The Insurance Companies at the time were told by their regulator what projection rates to use. ...
Crayzee 13.09.2002
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Ciao members have rated this review on average: helpful Review of Legal & General Assurance Society Ltd
Advantages: cheapest I could find Disadvantages: have to die to get the money !
Although Legal & General provide a range of financial products and services, this review is specifically concerned with life assurance as that is the area in whjch I have personal experience of dealing with them.
WHY INSURE
I remember, when first married, being quite reluctant to 'waste' money on life assurance, when there was so much we needed for the home. However my husband insisted on it so we took out just enough on his life only (the breadwinner) ... ...out of these.
WHY LEGAL & GENERAL
Quite simply, every time I have searched for life assurance, whether for myself or others, Legal and General are consistenty the cheapest.
They are an established reputable company.
ADDITIONAL INFO
Premiums are affected by age, existing state of health, whether a recent smoker, amount assured, and length of term chosen. Examples of actual monthly premiums Female 55 £50.000 assured 10 year term - £14
Male 30 ...
hunnieoo7 12.02.2006 (16.02.2006)
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Ciao members have rated this review on average: helpful Review of Legal & General Assurance Society Ltd
Advantages: An excellent level of cover provided. Disadvantages: Completing the very detailed health questionaire...can't be helped though!
I have just taken out a combined life and critical illness policy to support my mortgage and am very pleased to say I am paying a very reasonable monthly premium and receiving excellent comprehensive cover from what I personally feel is one of the best products on the market. I have the confidence that if myself or my partner is unfortunate enough to be suffer a critical illness or god forbid the worse happens, a non decreasing tax free lump sum ...
PINKLADYRLE 08.08.2007
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Ciao members have rated this review on average: somewhat helpful Review of Legal & General Assurance Society Ltd
Advantages: the more you insure yourself, the cheaper it gets Disadvantages: will be thorough in quizzing you about conditions you have
...knowledge of the policies from Legal and General. Obviously the younger you are, the cheaper policies are but this is specifically applicable to L+G life assurance. Their policies are good value if you insure yourself for a large amount of money. This maybe ideal for a small businesses who are looking for quotes as I often found businesses who insured themselves for between £500,000 and £1M plus would make great savings compared to those insurance ... ...it comes to critical cover. Legal and General provide cover for a considerable number of conditions and they will provide you with a booklet as yo what they do and don't cover and it is quite impressive, considering some companies conditions they cover can be counted on one hand.
Below I'll give you a couple of rough examples for single life assurance policies:
£100,00 life cover
30 year old non-smoker
18 years policy
Male £12 a month Female ...
philipansell 07.04.2004 (08.04.2004)
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Ciao members have rated this review on average: somewhat helpful Review of Legal & General Assurance Society Ltd
Competitiveness of APR
Product package
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Value for money
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