Over 50s Life Cover FAQs
- What is ASDA Over 50s Life Cover?
- What benefits does the policy provide?
- Who can apply for ASDA Over 50s Life Cover?
- When does cover start?
- How long am I covered for?
- How much does ASDA Over 50s Life Cover cost?
- Do I need a medical?
- How do I apply?
- Where can I find more information about this life cover?
- Can I apply for a joint life policy?
- How do I pay for this cover?
- Does the policy have a cash in value?
- Are the benefits tax-free?
- Who provides this insurance?
- What if I change my mind after I’ve taken out ASDA Over 50s Life Cover?
- What should I consider before applying?
What is ASDA Over 50s Life Cover?
ASDA Over 50s Life Cover is a simple, easy to arrange life cover policy that pays out a guaranteed tax free cash lump sum when you die. It could provide a welcome cash lump sum to put towards funeral expenses, outstanding debts or just to make your loved ones' lives a little easier.
What benefits does the policy provide?
As well as a guaranteed cash lump sum, ASDA Over 50s Life Cover provides the following benefits:
- You'll never pay in more than you get out
- FREE £30 ASDA Gift Card^
- Guaranteed acceptance and no medical
- Cover from just £6.95 a month
- Your monthly payments will never increase
- FREE cover for the first month
Find out more about ASDA Over 50s Life Cover
Who can apply for ASDA Over 50s Life Cover?
If you're a UK resident aged between 50 and 75, you're guaranteed to be accepted. Plus, if your spouse or partner is also a UK resident aged between 50 and 75, they're also guaranteed to be accepted!
When does cover start?
If you Apply Online you can get instant cover. Alternatively, you can arrange instant cover over the phone, just call
0845 900 0933 to speak to one of the ASDA Over 50s Life Cover team.
And if you have a spouse or partner, they can get instant cover too. All we ask is they're a UK resident aged between 50 and 75.
How long am I covered for?
ASDA Over 50s Life Cover is a whole of life policy. That means that providing you keep up-to-date with your premiums, you're covered for the rest of your life!
Plus, you’ll never pay in more than the amount paid out by the policy. This is because as soon as you’ve paid in the amount of cover payable your monthly premiums stop, but you'll still be covered for the rest of your life.
How much does ASDA Over 50s Life Cover cost?
Our premiums start from as little as £6.95, which makes ASDA Over 50s Life Cover an affordable way to get life cover.
However, we’d like you to choose a level of cover to suit you, so we offer a range of premiums from £6.95 up to £49.95. To find out how much cover you could get, click here to Get a Quote now.
When choosing how much cover you want, please bear in mind the fact that over the years inflation will reduce the buying power of the lump sum paid out at the end of your policy.
Do I need a medical?
No. If you're a UK resident aged between 50 and 75, you're guaranteed to be accepted. You won’t need to visit your doctor for a medical, we won’t ask any personal questions and there's no need for a doctor’s report either.
How do I apply?
Applying for ASDA Over 50s Life Cover is simple and easy. You can Apply Now, by filling out the online application form and as soon you're application is accepted, you'll be covered instantly. Or you can call 0845 900 0933 and speak to one of the ASDA Over 50s Life Cover team.
Where can I find more information about this life cover?
Before applying for the policy it is important that you read and understand the following documents, just click the links for in-depth information about ASDA Over 50s Life Cover:
For an explanation of the insurance service provided to you, please download our Key Facts about the Insurance Services [PDF]. Everything you need to know about the ASDA Over 50s Life Cover can be found in the Policy Summary [PDF] and a reminder of everything you need to know is in our Demands and Needs [PDF] leaflet. Finally, full details of the cover can be found in the Policy Terms and Conditions [PDF].
Can I apply for a joint life policy?
No. Individual policies are offered so that the remaining partner still has cover if one of you dies.
How do I pay for this cover?
You'll pay for your ASDA Over 50s Life Cover by Direct Debit. It's the simplest and safest way to make monthly payments from your bank or building society.
Does the policy have a cash in value?
No. The plan has no cash in value and it only pays out on death.
Are the benefits tax-free?
The final lump sum is tax-free, but there is a possibility that it may be included in your estate and might be subject to inheritance tax.
Who provides this insurance?
ASDA over 50s Life Cover is provided by AIG Life. AIG Life is a trading style of American Life Insurance Company. Established in the UK for over 85 years, American Life is wholly owned by American International Group Inc. (AIG), one of the largest insurance and financial services organisations in the world.
What if I change my mind after I’ve taken out ASDA Over 50s Life Cover?
Although we think it’s unlikely you'll change your mind after taking out ASDA Over 50s Life Cover, you do have the right to cancel your policy within the first 30 days. If you cancel your policy within this time you'll receive a full refund.
What should I consider before applying?
Before applying for ASDA Over 50s Life Cover, you should make sure you have read all the information available to you on our website. We have provided this information so that you can make a decision about whether our life cover is right for you. When deciding if this policy is suitable for you, you should consider not only the benefits of our policy, but also the risk factors, such as affordability or your personal circumstances. More details of the factors you should consider can be found in our Policy Summary [PDF].
- Get an online ASDA life cover quote now
- ASDA Over 50s life cover info pack
- For questions or quotes for Over 50s Life Cover please call 0845 900 0950
- or someone can ring you back - Call me Back
Please read these important documents
- Policy Summary[76KB]
- Terms & Conditions[100KB]
- Key Facts about the
Insurance Services[52KB] - Demand & Needs[132KB]
