The cost of living is dramatically increasing and the effects of high unemployment and high inflation combined with poor savings has taken its toll on the over 50s. Pensions in particular have been hit hard, not just because of the government’s ...
Over 50s Life Cover from just £5
Asda Over 50s Life Cover
Guaranteed acceptance and no medical
- Payments from just £5
- No awkward medical questions
- Get as much as 10% extra more paid out with our Funeral Benefit option
- Tell me more
An Over 50s plan that comes with guarantees
It’s good to know you can rely on Asda
Asda Over 50s Life Cover pays out a cash lump sum to help out those special to you when you’re no longer around. If you’re a UK resident between 50 and 80, you’ll be accepted – guaranteed. And if guarantees are important to you, this over 50 life cover comes with lots more.Find out more
Over 50s life cover with a funeral plan option that pays 10% extra
- Full cover after just 1 year - guaranteed.
- Comes with a capped payment option for which premiums start from £14.59 a month
- Guaranteed acceptance, without a medical
- Includes an uncapped option with new rates for which premiums start from just £5 a month
- Before you apply
Things to consider before applying
- Consider how much you want to be paid out and of course how much you want to pay monthly. It’s also worth thinking about inflation – which will reduce the buying of the sum of money you leave behind.
- If you want your payout to go towards funeral costs, then consider the Funeral Benefit option, which will add up to 10% to your final sum with no added cost to you.
- You may want to cap your premiums, so you never pay more in premiums than is paid out when you die.
- The money paid out when you die usually goes to your estate, which could be subject to inheritance tax.
- There’s no cash-in value with this plan. So if you cancel your plan you won’t get back any of your premiums and any beneficiaries won’t get a cash lump sum when you die.
- If you pass away within 12 months of your plan starting, it may only pay out the premiums you’ve paid in.
- As usual, we’re here to help, so it’s a good idea to read the Frequently asked questions.
The information on this website doesn’t give you advice, it’s up to you to decide if Asda Over 50s Life Cover is right for you. If you’re unsure, please contact a financial adviser.Read the Policy documents
- Funeral Benefit
Get as much as 10% extra money when you take out the Funeral Benefit option
It’s surprising how expensive funerals are today. And they’re only going to get more expensive in years to come. But you can do something about it now.
Choose the Funeral Benefit option and you’ll get up to an extra 10% towards your funeral at no extra cost. That’s because your plan is ‘charged’ to Dignity, the UK’s number 1 funeral specialists. It means your cash lump sum is paid directly to them to be used towards funeral costs.
They’re experts in their field, so you and your family will have the peace of mind that everything is carried out to your exact wishes as well as getting that bit extra towards meeting those funeral costs.Find out more
- How we compare
How Asda Over 50s Life Cover compares
ASDA Tesco Sun Life Direct Capped payment option ✔ X X No medical ✔ ✔ ✔ Guaranteed acceptance ✔ ✔ ✔ Guaranteed full payout After 1 year After 1 year After 2 years
Capped payments mean you stop paying premiums once the total you've paid equals your chosen amount of cover. This means you'll never pay more in premiums than is paid out when you die.
Information source directly from product providers Policy Summaries and websites, February 2013. With Asda Over 50s Life Cover, if you die in the first year we may only return the premiums you’ve paid. With Tesco if you die within the first year you may only receive an amount equal to the premiums you’ve paid, and with Sun Life Direct, if you die in the first 2 years, they may only refund 1½ times the premium paid.Get a quote
Over 50s Guides
Find out more information about Over 50s Life insurance
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