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Over 50s Life Cover - Never pay in more than you get out

Your cover explained

ASDA Over 50s Life Cover lets you leave behind a useful cash lump sum when you're gone. Even if you already have life insurance, ASDA Over 50s Life Cover could offer some welcome extra funds to put towards any outstanding debts, funeral costs or just to make your loved ones lives a little easier.

Your cover in detail

  • Accidental death   

    In the event of accidental death, your loved ones will receive the guaranteed lump sum – and after two years that amount doubles.

  • Natural causes   

    If you were to die of natural causes during your first two years of the life insurance policy, your loved ones will receive all the payments you've paid in plus an extra 50%.

  • Cash lump sum   

    If you were to die after two years, we will pay the full guaranteed lump sum.

  • £100,000 common carrier payment   

    If you were to die travelling as a fare paying passenger on public transport in the UK, we would pay out an extra £100,000.

  • Choose the level of cover to suit you   

    We think life cover should be within everyone's reach. That's why premiums start at as little as £6.95 a month. However, you may decide to pay a slightly higher premium which would make a difference to the amount of cover you receive. The cost of cover depends on the level of cover chosen and your personal circumstances. As long as you keep up-to-date with the premiums, you're covered for life.

Important information about this policy

We think it's important that you have all the information you need to make the right decision about your life insurance.

ASDA Over 50s Life Cover has no cash in value because it only pays out on death.

When choosing your level of cover, please consider the fact that inflation will reduce the buying power of the lump sum paid out at the end of the policy.

The lump sum is tax-free but it may be included in your estate and could be subject to inheritance tax.

The downloads below give more in-depth information about ASDA Over 50s Life Cover and should answer any questions you may have. But if you need more information or you'd like to speak to one of our advisors, call 0845 900 0933.

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 ASDA Over 50s Life Cover can be found in the Policy Summary [PDF] and a summary of the policy in our Demands and Needs [PDF] leaflet. Finally, full details of the cover can be found in the Policy Terms and Conditions [PDF].

Frequently asked questions

Visit our Frequently Asked Questions page for further information about ASDA Over 50s Life Cover.

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ASDA Financial Services Limited is an Introducer Appointed Representative of AIG Life. AIG Life is a trading style of American Life Insurance Company, a private limited company incorporated with limited liability in Delaware, USA No. 0123730. Head Office: One ALICO Plaza, Wilmington, Delaware, USA 19801. Registered in England No. BR000230. Branch office: 22 Addiscombe Road, Croydon CR9 5AZ. Authorised and regulated by the Financial Services Authority.

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