Legal & General Investment Management Reviews 

⭐ 1/5 — Legal & General income protection: protection you may discover is worthless when you actually need it

My experience with Legal & General has destroyed my confidence in its income-protection products.

When I became seriously ill and needed the cover I had relied upon, L&G ultimately terminated my claim. I submitted evidence, followed the required processes and raised detailed questions about the basis of its decision. Yet L&G has now declared the matter “closed” and expressly stated that it will not respond further—even though I remain firmly of the view that important points have not been properly answered.

I am not concealing the fact that the Financial Ombudsman Service did not uphold my complaint. However, that does not change my personal experience of L&G’s conduct or make its handling of the matter feel fair, transparent or acceptable. An Ombudsman outcome should not prevent customers from describing honestly how an insurer treated them.

I have a professional background in audit, legal and regulatory compliance. I understand the importance of evidence, policies, procedures and accurate disclosure. I approached this claim carefully and methodically. What shocked me was how exposed a customer can become when an insurer decides to challenge or terminate a claim—and how difficult it can be to obtain complete, direct answers once the insurer has settled upon its position.

Income protection is purchased for the moment when illness has already left someone physically, emotionally and financially vulnerable. That is precisely when an insurer’s integrity, transparency and willingness to engage matter most. In my case, I felt I encountered defensiveness, finality and refusal to engage meaningfully—not the protection and reassurance I believed I had purchased.

My warning to potential customers is simple: do not judge this type of policy by its marketing, its monthly premium or the reputation of the brand. Examine the exclusions, disclosure requirements, medical-wording provisions and termination clauses in forensic detail. Ask yourself what resources you would have to challenge the insurer if it stopped paying when you were seriously unwell.

My warning to existing policyholders is even more urgent: retain every application, adviser communication, medical record, telephone recording, policy document and piece of correspondence. Check now that L&G’s records accurately reflect everything disclosed when the policy was taken out. Do not assume that paying premiums means the insurer will interpret matters in your favour when a substantial claim arises.

Based on my experience, I could never recommend Legal & General income protection to a friend, colleague or family member. The real test of an insurer is not how professionally it sells a policy—it is how it behaves when the customer becomes ill and the insurer is required to honour the protection that customer believed they had bought.

For me, when that test came, L&G failed completely. I paid for peace of mind and was left fighting the very company that was supposed to protect me.

Great people and company values. Excellent in stewardship with corporate investments and important player in the UK. This is the only part that is not under the disorganised and chaotic investment function & leadership. Today and for years, the same leadership live and prosper in the firm. This has made it more difficult for the business to move forward. It didn't help that the CIO had an open and long-standing spat with the CEO. It was embarrassing to hear the main investment head talking poorly and openly about the board members for years. I checked out. But perhaps the new CEO could make it up for the past grim years

This company owns Exebridges Retail Park in Exeter. It has started using a Private parking company (Horizon) to fine shoppers £60/£100 for not using the new parking machines.

This site was free for years up to 3 hours and the new signs not obvious. There are no big signs to alert customers and the store cashier did not ask if you needed a parking voucher either.

Whilst parking measures may be necessary, the level of fine is just robbery. No wonder shops and city centres are going under, just because of greed.

Copy of complaint sent to L&G follows:
Dear Sir or Madam,

In late 2020 you made unannounced & puzzling changes to how you handle dividend payments. So, on 1st Dec 2020, I posted a secure message on your website asking some questions about these changes and to make changes to my investments to compensate. I was worried by these unexplained changes and required a prompt response.

One week later nothing had happened, not a dicky-bird. So I sent you a couple of reminders, hoping to provoke a response. Again, nothing. Zilch.

At the same time I had a similar experience when dealing with the Worksave pension I hold with Legal & General. Again, my messages were ignored. After making a formal complaint L&G Worksave responded slowly, but refused any pension withdrawal until the following financial year at the earliest. L&G were far too busy to process my request this year.

I tried telephoning you but never got a response. That’s even more worrying. The last time something like this happened to me was when an investment company went bust. By now I’m looking for reasons not to panic but can’t find one!

So, by February all I knew was that there was something strange happening at L&G with my ISA savings and that (as far as I was concerned) you had disappeared off the face of the earth. And no pension withdrawals.

I need money to live on but I’d been refused access to my pension and there was a worrying & growing question mark over my ISA savings. With visions of the sky falling in on my head, I decided to rescue whatever I could from a sinking ship. I started cashing in my life-long ISA savings.

Then about a week ago you sent me a secure message asking me if I wanted a response to my message. What kind of stupid question is that? So far you’ve kept me waiting 16 weeks for a proper response. All you’ve offered is some silly reference to a “technical error”.

You’ve now cost me both grief & money and ruined my financial planning for 2020/21 and 2021/22 financial years. Hence I feel L&G have been grossly negligent, incompetent & dysfunctional.
Please explain to me why you are a fit and proper company to look after my pension and my savings. Why should I trust you?
--o-0-o--
Update: took L&G a week just to acknowledge my complaint about how slow they are. But nothing since. Far too busy, perhaps?