Tesco over 50 Life Insurance Review.
Choose your premiums with the option to choose any amount between £7 and £50 per month.
A male aged 50 paying £7 per month would get life insurance value to £2,160 or by paying £50 per month £19,047.
The Tesco over 50 life Insurance Plan is only available to UK residents aged between 50 and 80 years of age.
No medical or health questions are
asked so you are guaranteed to be covered.
on how long you live, the total amount of the premiums you pay in may be greater than the cash sum paid out if you die.
It is your responsibility to ensure that the Plan meets your
needs, that you understand what the policy covers and, importantly, what is not covered.
You will be covered as long as you continue to pay your life insurance premiums each month and the monthly
payments are fixed and will never rise. If you live beyond 90 years of age you won't have to pay any more premiums but
Tesco will still pay out on your death.
You can cancel
your policy at any time, but it has no cash-in value. If you cancel your policy, you won't get any money back.
The guaranteed sum assured does not pay out until the policy has
been in force for 2 years. If you die within 2 years of taking out the life insurance your plan will pay out 1.5 times the
premiums you have paid in.
Tesco Life insurance is provided
by Friends Provident.
Currently you can get a FREE £20
Gift Card when you take out Tesco Over 50s Plan. The £20 gift card will be sent within 3 months of the policy being
issued to the policyholder at their address only. No duplicate Gift Cards will be sent. If you cancel your policy within the
first six months, Tesco reserve the right to request a refund of the Gift Card already given to you.
Full terms and conditions are available on the tesco website.