Sainsbury’s Bank is Britain’s longest standing Supermarket Bank offering loans, savings, insurance, travel money and credit cards.
Sainsbury’s life insurance pays a tax-free lump sum of up to £200,000 upon your death to make sure your dependants can keep up with any mortgage repayments and bills after you are gone. Monthly premiums are from £7.42.
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Over 50s Life Insurance
Over 50’s life cover is a form of life insurance for the mature adult. It provides a financial cushion for the policyholder’s family, which will pay out in the event of their death. Additional details are only available upon further enquiry with the company.
Mortgage Life Insurance
Mortgage life insurance is typically bought to cover a mortgage, so in the event of your death your loved ones can pay off your outstanding mortgage. Also known as decreasing term life insurance, usually the amount paid out decreases over time to match your remaining mortgage. Additional details are only available upon further enquiry with the company.
Critical Illness Cover
Critical illness cover is an add-on to life insurance, where you can get a payout in the event that you are diagnosed with one of the critical illnesses covered by your policy. Additional details are only available upon further enquiry with the company.
Whole Life Insurance
Whole of life insurance is a type of policy that guarantees an insurance provider will pay out a lump sum to your loved ones when you pass away, rather than within a fixed time frame. Additional details are only available upon further enquiry with the company.
Income Protection Insurance
Sainsbury’s does not offer income protection insurance.
Sainsbury’s Banks also offers loans, savings, insurance, ISAs, travel money and credit cards.
Sainsbury’s Reviews and Ratings
Online reviews for Sainsbury’s Bank are generally very good with users happy that the products are good value for money and the process simple and easy to complete online. Those offering negative feedback have criticised the unhelpful staff, slow customer service and hard to access policy information.
Trust Pilot – 4.2/5 (based on 4821 reviews)
- A trusted British brand
- Good customer feedback and reviews
- A quick, simple online process
- Most life insurance products offered
- A relatively new player in the insurance market
- A basic website with limited product information available
- Some negative feedback including slow customer service and hard to access policy information.
- Income Protection Insurance not offered
- No online phone numbers for support – email only
Website: Sainsbury’s Bank