ASDA Over 50s Life Insurance Cover.

Asda Life Insurance for the over 50s is provided by LV (Liverpool Victoria) and is available from as little as £5 per month  (17p a day). On your death the lump sum can be used so your family have a lump sum or it can be used to pay your funeral expenses. To be able to take out ASDA over 50s Life Insurance cover you need to be a UK resident and be aged between 50 and 80. Some of the benefits you get are Guaranteed fixed payments.  Asda guarantee to never increase the monthly payments you make but this will result in inflation gradually eroding the value of the lump sum. You can choose to take out life insurance with payments of between £5 and £100 per month. Option to choose to assign your cash lump sum towards your funeral costs. If you choose this option you will get an extra 10%towards the cost of your funeral at no additional cost to you. Asda do not ask you to have a medical or ask you any health questions so you are guaranteed to be accepted if you are a UK resident aged between 50 and 80. The Guaranteed cash lump sum will payout on your death after you have had the policy for 12 months. If you die within 12 months of taking out Asda over 50’s life insurance you will only get the premiums paid back. Remember this is a life insurance policy and has no cash in value as it is designed to pay out on death only so if you cancel the policy you will not get any premiums back or receive the cash lump sum.

last update april 2012.