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 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 £25,000.
At Reassured, we compare quotes from a number of providers to ensure you find the right policy to meet your unique needs.