Life insurance

Protect your family from the unexpected.

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What is life insurance?

Life insurance is a contract between you and an insurance provider who will pay a death benefit upon death and is funded through premium payments. Think of it as a kind of financial safety net that allows you to live your life fully while being financially protected for the unexpected.

The policy is purchased for a set amount of coverage, which is the amount the insurance provider will pay your beneficiary. This payout, called a death benefit, can be used to cover funeral costs or large medical bills, or expenses like housing, food, education, and anything else they might need.

How does life insurance work?

There are a wide variety of life insurance coverages. In general, your life insurance policy remains active as long as the contract terms are met. This usually means a death benefit is payable upon death as long as the premium or funding requirements are met.

Premiums and other policy characteristics can vary by many factors including the amount of coverage you need, as well as your age and health. If death occurs while the coverage is active, your beneficiaries can submit a claim to receive the payout.

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What is life insurance used for?

People get life insurance to protect their families and provide financial support to their loved ones in the event of their death. The death benefit can be used for:

  • Mortgage payments
  • End-of-life expenses such as medical bills, burial costs, or estate taxes
  • Childcare to replace the loss of a stay-at-home parent
  • Supporting family members through college
  • Debts such as car loans, boat loans, etc.
  • Keep a family business running
  • Leaving a legacy

Learn more life insurance basics

Types of life insurance

There are several types of life insurance policies you can choose from to match your unique needs and situation. The types can be categorized based on years of death benefit coverage and are commonly referred to as temporary and permanent coverage. At Legal & General America (LGA), we offer temporary coverage called term life insurance and a permanent type of coverage called universal life. Both types of policies provide a choice for the amount of protection your family needs.

Term life insurance products tend to be the most affordable and cover temporary needs such as mortgage protection. Universal life policies provide lifetime coverage and may include a cash value savings component or flexible payment options. LGA life insurance products are underwritten and issued by our companies, Banner Life Insurance Company and William Penn Life Insurance Company of New York.

Get more familiar with the different types of life insurance

Our products


Term Life

Starting around $8/month

For the lowest initial price, you can get term life insurance for a specific period. A great choice for those on a budget.

  • Most straightforward option
  • Lowest initial price
  • Beneficiaries receive death benefit if you pass away during the term
  • Renewable and convertible policies
  • Customize coverage with riders
  • Provides mortgage or income protection

Universal Life

This type of permanent life insurance policy offers guaranteed lifetime coverage as long as you pay your premiums.

  • Lifetime coverage
  • Adjustable death benefits
  • Conversion from a term policy
  • Leaves a lifetime legacy

FinancialSecurity_manHow much life insurance do I need?

Once you’ve decided what type of coverage works best, it helps to think about how much coverage you need. Coverage amounts are typically offered between $100,000 and $10 million.

Find out how to calculate your coverage need

How to get life insurance

We provide several options for you to get a free cost estimate. You can opt to talk to one of our in-house licensed agents, find an agent near you, or start the process on your own by requesting a free online quote. Each of these ways is secure, and the decision comes down to what you’re most comfortable with.

Explore the ways to buy life insurance

One swift claim process

Helping people when they need it most is why we’re here. We support thousands of families and businesses across the US.

With LGA life insurance, beneficiaries can easily file a claim via a secure online form. We require some basic information: a complete Proof of Death Claimant’s Statement, a certified copy of the insured’s death certificate, and the original policy, if available.

Once approved, claim payments are processed in one business day.

See our claims process

What our customers say

Finding Meno

Watch the touching story of David Meno, one of our agents, who graciously shares his personal journey and advocates for the importance of life insurance.

Watch on YouTube