Why Consider ASDA Over 50 Life Insurance:
It’s important that you’re happy with your cover, which is why ASDA Over 50s Life Cover has been designed to allow you to either choose the amount cover you want, or instead choose how much you want to pay each month. However if you stop paying premiums your cover stops and you get nothing back. Also your cover is fixed when your plan starts and doesn’t change – so this means that because of inflation it will buy less in the future.
The more you pay the bigger the cash lump sum you can choose, and by choosing to pay more each month for the same level of cover, you can choose to cap your premiums. This means that you’ll stop paying once the total amount you’ve paid reaches you chosen amount of cover, so you’re guaranteed to never pay more than your plan will pay out when you die. Premiums for this option start from £14.59 a month. If you don’t choose this option then you could end up paying more in premiums than the plan pays out when you die.
On top of that, ASDA Over 50s Life Cover will pay out in full if you die a year or more into your plan – unlike some similar plans which only pay out in full if you die after two years. With Asda if you die within the first 12 months you may only get back the premiums you have paid.
In addition, Asda Over 50s Life Cover also offers a ‘funeral benefit option’ which can get you an extra 10% towards the cost of your funeral costs – at no additional cost to you.
You can apply if you’re between 50 and 80 years of age, and live in UK, and you’re guaranteed to be accepted – there’s no need for a medical. Like everything from Asda Money, it’s simple to take out, and easy to understand.
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Please note that this is only a brief summary of ASDA Over 50 Life Insurance and you should refer to the company's website for current excesses, terms and conditions. Policy features, offers and discounts are subject to change.