Asda life insurance

Asda also previously used to provide an over 50s life insurance product.

Cover started from as little as £5 a month, offering guaranteed acceptance to all UK residents aged 50-80.

As with all over 50s plans no medical information was required.

The underwriting of Asda’s over 50s life insurance was carried out by LV

Like other over 50 products, Asda’s had a waiting period. If natural death occurred within the first 12 months of a policy, a life insurance pay out would not be made but all premiums would be refunded.

This 12-month period is lower than some over 50s policies, which can include a 24-month waiting period.

Asda over 50 life insurance also offered the option of a 'funeral benefit'.

Choosing this option would mean that upon your passing the pay out would be paid directly to Dignity funeral directors, who would arrange your funeral and even provide a 10% bonus towards the cost.

Finally, Asda over 50s cover provided protection between £650 - £10,000.

This is considerably less than other providers which provide a sum assured of up to £20,000.

At Reassured, we compare quotes from a number of providers to ensure you find the right policy to meet your unique needs.

Arranging joint life insurance allows you to protect two lives simultaneously and can save you approximately 25%.

However, arranging a joint life insurance policy was not possible with Asda.

The downfall with joint life insurance is that while two lives are covered simultaneously, only one pay is made (usually upon first death).

Therefore, when first death occurs, a pay out is made, but the surviving partner will be left unprotected and required to secure cover at an older age.

But that doesn’t mean joint cover should never be considered as it can be a viable option for those on a tight budget.

At Reassured, we help arrange both individual and joint policies. Simply get in touch today to establish the best option for you.

Like most life insurance available in today’s market, Asda policies came with the option to add critical illness cover.

Whilst this costs extra, it does mean that you can make an early claim on your policy if you're diagnosed with a serious, yet non-life-threatening illness.

The pay out proceeds could then be used as you see fit.

At Reassured, we have the ability to add critical illness cover to all term life insurance policies we arrange for an additional cost.

Being an Asda employee comes with a range of benefits, including pension, health insurance and share scheme, however, life insurance isn’t one of them.

Since taking themselves out of the life insurance sector, Asda no longer provides their employees with life cover.

However, like other members of society, it’s likely most Asda employees would benefit from having life insurance in place.

By arranging life insurance with Reassured, you can help to secure the financial future of your loved ones.

Simply get in touch today to receive your free of charge, no-obligation quote.