Great benefits on Over 50s Life Cover
With the reassurance of guarantees
Full cover after just 1 year - guaranteed.
Whereas some plans won’t pay out in full if you pass away in the first two years, Asda Over 50s Life Cover pays out in full if you die after only one year. Just another benefit of our life cover for over 50s. However if you die within the first 12 months, depending on the circumstances, the plan may only pay out the premiums you've paid without interest.
Comes with a capped payment option
If you choose our capped payment option, although you'll get less cover for your money, it means you’ll stop paying premiums once the total you’ve paid reaches your chosen amount of cover. So if you chose cover of £4,000 you’d stop paying premiums as soon as you’ve paid up to that amount. Premiums for this start from £15 a month (depending on your age), but you’ll never pay more than will be paid out when you die – and that’s guaranteed.
Guaranteed acceptance, without a medical
As long as you're aged 50 to 80 and living in the UK, there's no medical to go through, and you're guaranteed to be accepted.
Premiums from £5 a month** that never go up - guaranteed
As soon as you decide how much you want to pay for your cover, we guarantee your premiums will never increase so with Asda, you always know where you stand. When choosing how much you'd like to pay each month, it's worth bearing in mind that your amount of cover is fixed when your plan starts and doesn't change. This means inflation will reduce the buying power of your cash lump sum.
**The starting premium of £5 a month depends on your age.
You choose the level of cover you want and how it’s paid
The amount you choose to pay each month determines how much cover you can get. You can choose cover from a minimum of £650 up to a maximum of £10,000. And you can either choose your plan to pay out a cash lump sum to your loved ones or it can be put towards your funeral service, with the Funeral Benefit option.
Get up to 10% more with the Funeral Benefit option
When you’re putting money in to pay for important things, a bit extra always helps. Choose our Funeral Benefit option and you’ll get up to an extra 10% towards your funeral. So for every £100 of your cash lump sum that you use towards funeral costs, you’ll get £110 (up to a maximum of £1,000 extra) towards your funeral when a claim is made, at no extra cost to you. If you choose this option to get the Funeral Benefit your Funeral will need to be provided by Dignity.
£30 Asda gift card* – just for taking out a plan
We like to say thank you to our customers. That’s why, when you take out Asda Over 50s Life Cover, we’ll give you a gift card* worth £30 to spend however you like at Asda.
*Your Gift card will be sent within 28 working days of your third monthly premium being received. Please see information pack for full terms and conditions.
Uncapped premiums are payable for a maximum of 30 years - guaranteed
With Asda Over 50s Life Cover, uncapped premiums are payable for a maximum of 30 years - guaranteed. If you choose the uncapped option, depending on how long you live, you may end up paying more than is paid out when you pass away.