Legal & General
Legal & General is a multi-national insurance, pensions and investments company based in London. It was founded in 1836 by a group of six lawyers. It is listed on the London Stock Exchange and is a member of the FTSE 100.
Life insurance
Ranked 17th of 24 providers reviewed.
| Claims score | 71.00% |
|---|---|
| Complaints performance | 85.31% |
| Transparency rating | 66.36% |
| Fairer Finance score Reviewed Autumn 2023 |
74% |
Equity Release
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Optional Payment (Variable ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 25% Cap |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 25% Cap |
| Early repayment charge (if you repay in year 12 of the loan) | 25% Cap |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Interest Roll Up Joint Lives (Variable ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 25% Cap |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 25% Cap |
| Early repayment charge (if you repay in year 12 of the loan) | 25% Cap |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Black (£599 Arrangement fee)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Interest Roll Up (Variable ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 25% Cap |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 25% Cap |
| Early repayment charge (if you repay in year 12 of the loan) | 25% Cap |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Pink (£599 Arrangement fee)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Yellow (£599 Arrangement fee)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Green
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Interest Roll Up (Fixed ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Black
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Orange
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Pink
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Optional Payment Joint Lives (Variable ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 25% Cap |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 25% Cap |
| Early repayment charge (if you repay in year 12 of the loan) | 25% Cap |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Optional Payment Joint Lives (Fixed ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Interest Roll Up Joint Lives (Fixed ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Optional Payment (Fixed ERC)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | £1,000.00 |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Green (£599 Arrangement fee)
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Legal & General
Payment Term Yellow
| Early repayment charge (if you repay in year 3 of the loan) | 9% |
|---|---|
| Are you allowed to sell and move to a smaller property without paying early repayment charges? i | |
| Is there an admin fee when the loan is repaid? i | £85.00 |
| Early repayment charge (if you repay in year 6 of the loan) | 8% |
| Early repayment charge (if you repay in year 12 of the loan) | 4% |
| Can you repay penalty free if one borrower dies or goes into care? i | |
| Is there an admin fee when part of the loan is repaid? i | £0.00 |
| Max Partial repayments allowed in a year | 10% |
| Portable | |
| Adding or removing someone to your loan (England and Wales) | £475.00 |
| Adding or removing someone to your loan (Scotland) | £475.00 |
| Member of the equity release council | |
| Minimum Cash Reserve | |
| Number of payments allowed per annum (repayment flexibility) | 12 |
Investing and pensions
Ready-made Stocks and Shares ISAs
Legal & General
Legal & General portfolio
| Cost (Year 1) i | £280.00 |
|---|---|
| Account closure fee | £0.00 |
| Charge for transferring investments to another platform i | £0.00 |
| Is there a mobile app? | |
| Charge for selling holdings if not enough money in account for charges | £0.00 |
| Completing paper applications | |
| Cash withdrawal by BACs | £0.00 |
| Same day payment/payment by CHAPs | £0.00 |
| Early account closure fee | £0.00 |
| Cost of receiving paper statements for a year | £0.00 |
| Charge for transferring cash to another platform i | £0.00 |
Life insurance
Over 50s life insurance
Legal & General
Over 50s Life Insurance Fixed Plan
| How long after policy is started can full benefits be claimed? i | 12 months |
|---|---|
| Age when premiums stop i | 90 |
| Cover type (level or increasing) i | Level |
| Cover for accidental death in waiting period i | 100% |
| Signing up incentive i | £120 gift card |
| Can you reduce monthly payments? i | Yes (after one year) |
| Minimum age i | 50 |
| If a payment is missed, how long until the policy is cancelled? i | 60 days |
| Maximum age i | 80 |
| Does the policy offer the customer a proportionate amount of money back if they choose to cancel after paying 50% or more of the scheduled monthly payments? i | |
| Rate used to calculate increasing cover i | |
| Cover for non-accidental death in waiting period (% of premiums paid) i | 100% |
| Payout for accidental death outside waiting period i | 100% |
| How much for terminal illness benefit? i | £0.00 |
| How much will be paid for serious illness? i | £0.00 |
| Discount offered with a funeral provider? i | 100% of the insurance payout |
| Funeral benefit option provider i | Dignity |