Life Insurance Agreement Template for England and Wales

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Life Insurance Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Life Insurance Agreement

"I need a Life Insurance Agreement for a high-net-worth individual seeking £5 million coverage with additional critical illness benefits, to be effective from March 1, 2025, with specific provisions for multiple international beneficiaries and investment-linked components."

Document background
The Life Insurance Agreement serves as the foundational document establishing the contractual relationship between an insurance provider and a policyholder under English and Welsh law. This agreement is essential when individuals seek financial protection for their beneficiaries in the event of their death. It encompasses crucial details including the sum assured, premium payments, coverage terms, exclusions, and claims procedures. The document must align with regulatory requirements set by the FCA and relevant insurance legislation, providing clear terms while ensuring consumer protection.
Suggested Sections

1. Parties: Identification of insurer and policyholder, including full legal names and addresses

2. Background: Context of the insurance agreement, including purpose and basic terms of coverage

3. Definitions: Definitions of key terms used throughout the agreement including technical and insurance-specific terminology

4. Policy Details: Core terms including sum assured, premium amounts, and payment terms

5. Coverage Terms: Detailed conditions of coverage, exclusions, and limitations of the policy

6. Claims Procedure: Process for making claims, required documentation, and timeline for claim settlement

7. Termination: Circumstances and procedures for policy termination, including surrender and lapse conditions

Optional Sections

1. Additional Benefits: Optional riders and supplementary benefits that can be added to the basic policy

2. Investment Component: Terms and conditions related to investment elements for investment-linked policies

3. Joint Life Provisions: Specific terms and conditions for policies covering multiple lives

Suggested Schedules

1. Schedule of Premiums: Detailed breakdown of premium payments, including amounts, frequency, and due dates

2. Medical Requirements: Schedule of required medical examinations and health declarations

3. Beneficiary Designation Form: Form detailing the nominated beneficiaries and their respective shares

4. Policy Illustration: Schedule showing projected values, benefits, and returns (where applicable)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Relevant Industries
Relevant Teams
Relevant Roles
Industries

Financial Services and Markets Act 2000: Primary legislation that establishes the regulatory framework for financial services and sets out authorization requirements for insurance providers

Insurance Act 2015: Defines duty of fair presentation, addresses warranties and terms, and covers fraudulent claims in insurance contracts

Consumer Insurance (Disclosure and Representations) Act 2012: Governs consumer duty of disclosure and deals with misrepresentation in insurance contracts

Third Parties (Rights against Insurers) Act 2010: Protects third party rights in insurance contracts

FCA Handbook: Regulatory framework including Insurance Conduct of Business Sourcebook (ICOBS), setting out client communication requirements and product information rules

PRA Requirements: Prudential Regulation Authority requirements covering capital adequacy requirements and risk management standards

Consumer Rights Act 2015: Legislation covering unfair terms provisions and transparency requirements in consumer contracts

Data Protection Act 2018 and UK GDPR: Legislation governing personal data handling and privacy requirements

Equality Act 2010: Legislation covering non-discrimination provisions and protected characteristics

Contract Law Principles: Common law principles covering offer and acceptance, consideration, and capacity to contract

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Loss Portfolio Transfer Agreement

find out more

Intercompany Reinsurance Pooling Agreement

find out more

Insurance Premium Finance Agreement

find out more

Insurance Pooling Agreement

find out more

Insurance Addendum

find out more

Independent Contractor Agreement Insurance Clause

find out more

Independent Agent Agreement

find out more

Buy Sell Agreement Funding

find out more

Health Insurance Benefit Agreement

A legally binding contract under English and Welsh law establishing health insurance coverage terms between an insurer and policyholder.

find out more

Subcontractor Risk Transfer Agreement

A legal agreement under English and Welsh law that transfers specified project risks from main contractor to subcontractor, including insurance and indemnity provisions.

find out more

Required Insurance Addendum To Lease Agreement

A legal document under English and Welsh law that supplements a lease agreement by specifying mandatory insurance requirements and responsibilities.

find out more

Personal Injury Liability Release Agreement

A legal agreement under English and Welsh law where an injured party releases their right to sue in exchange for compensation.

find out more

Disability Buy Sell Agreement

An English law agreement establishing terms for purchase of a disabled owner's business interest, ensuring business continuity and owner protection.

find out more

Confidentiality Agreement With Insurance Company

An English law agreement protecting confidential information shared with or by insurance companies.

find out more

Temporary Insurance Agreement

An English law agreement providing temporary insurance coverage, detailing terms and conditions between insurer and insured.

find out more

Gap Indemnity Agreement

A legal agreement under English and Welsh law providing indemnity coverage for gaps in registered property title documentation.

find out more

Renters Insurance Agreement

A legally binding insurance contract under English and Welsh law protecting tenants' belongings and providing liability coverage in rental properties.

find out more

Liability Insurance Agreement

A legally binding insurance contract under English and Welsh law that provides liability protection and establishes terms between insurer and insured.

find out more

Fine Print Renters Insurance Agreement

A legally binding insurance contract under English and Welsh law that provides coverage protection for tenants' possessions and liability while renting property.

find out more

Home Buy Sell Agreement

A legally binding contract under English and Welsh law for the sale and purchase of residential property.

find out more

Key Employee Agreement

A comprehensive employment contract under English law for senior executives and critical staff members, outlining key terms and conditions of employment.

find out more

Life Insurance Agreement

A legally binding agreement under English and Welsh law establishing terms for life insurance coverage between an insurer and policyholder.

find out more

Car Insurance Agreement

An England and Wales-governed agreement setting out motor vehicle insurance terms between an insurer and policyholder.

find out more

Key Person Agreement

An English law agreement defining terms for retaining essential employees, including special conditions and protections for both employer and key person.

find out more

Health Insurance Agreement

A legally binding health insurance contract under English and Welsh law that establishes coverage terms between insurer and policyholder.

find out more

Subrogation Agreement

An English law agreement transferring recovery rights from an insured party to their insurer following an insurance payout.

find out more

Life Settlement Agreement

A contract under English and Welsh law governing the sale of a life insurance policy from the original policyholder to a third-party investor.

find out more

Insurance Indemnity Contract

A legally binding agreement under English and Welsh law where an insurer agrees to compensate the insured for specified losses or liabilities.

find out more

Risk Transfer Agreement

A contract under English and Welsh law enabling the formal transfer of specified risks between parties in exchange for agreed consideration.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.