As the impact of Covid-19 evolves, so too will our process. We are working hard to identify new and innovative solutions to ensure we are supporting our customers through the most challenging times of their lives and enabling more people to have access to vital protection cover.
5 May 2020
As part of this work, we have listened to our trusted partners and customers and introduced a new digital approach for our existing customers to place their policies in trust. Our trust forms are required to be physically signed and witnessed and we recognise that this is simply not possible, or safe, for many people at this time.
We have provided an alternative digital solution where trusts may be established without requiring a witness signature.
This will give intermediaries another excellent opportunity to contact customers whose policies are not currently in trust to offer guidance and support when many may be in need of valuable financial advice at this challenging time.
Ali Crossley, Managing Director, Partnerships, Legal & General: "These are uncertain times, but we want to offer our customers a clear certainty: our focus will always be to support them at the most challenging times in their lives. Never has there been a more challenging time, and we are listening to our customers and partners and working hard to be agile and responsive to their needs. This new digital approach to putting a policy in Trust will offer our existing customers peace of mind that their loved ones will be financially supported as they wish, without the need for pen and ink signatures and witnesses. Our customers – and supporting their needs – remain our absolute priority at this time."
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023
Legal & General Insurance (LGI) has been offering life insurance cover since 1836 and is the UK’s number one individual life insurance provider. Our group protection business in the UK offers life insurance and income protection products to individuals through their employers and we offer term-life insurance in the US. We now have over 5.5 million UK life insurance customers, 1.8 million people in group protection schemes and approaching 1.3 million US term-life insurance policyholders. Here in LGI, we protect our customers and their loved ones throughout life and death.
*at 31 Jun 2021