New Over 50s life insurance launched by ASDA

Wed, 14 May 2008

ASDA has introduced a new Over 50s Life Cover policy which promises that customers will only pay premiums until their chosen sum assured is reached. After this stage their premiums will stop, but their cover will continue for the rest of their lives.

ASDA's Head of Insurance, Gideon Ingham comments: "For too long, thousands of Over 50s Life Cover policy holders have been penalised for living longer by having to pay much more in premiums than is paid out. ASDA has a long standing reputation as a consumer champion and will go that extra mile to identify policies which do not unfairly penalise customers."

If customers are a UK resident and aged between 50 and 75, the policy guarantees acceptance and so there won’t be any medical questionnaires or long forms to fill in when applying. The premiums have been designed to suit every budget, with cover starting at £6.95 a month.

ASDA is also offering added incentives with its new policy. There will be free cover for the first month, monthly payments are guaranteed never to rise and policy holders will receive a £30 ASDA gift card when they take out their policy.
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