Asda Life Insurance

Updated: Periodically. Details correct at the time of publication – October, 2007.

The British supermarket chain, now a subsidiary of Wal-Mart, has expanded its extensive list of services into the financial sector. Asda is a rapidly expanding UK life insurance provider, with both general life insurance (also known as 'Asda life assurance' or 'Asda term assurance') and mortgage life insurance on offer.

Asda's general life insurance policy provides a lump sum payment if you die or are diagnosed with a terminal illness expected to cause death within 12months, during the policy period. You pay a fixed monthly amount and can choose the amount of cover you need. Terminal illness cover is included at no extra cost. If you wish to cover your partner on the same policy you can set up a joint policy which pays out if either partner dies or is diagnosed with a terminal illness.

Asda's mortgage life insurance offers valuable cover designed to help pay off your repayment mortgage. You pay a fixed monthly amount that will never go up and you can cover all or part of your mortgage to suit your needs. Terminal illness benefit is included for free.

According to its website, Asda life insurance is available from as little as £7.44/month. If you prefer, Asda life insurance offers an alternative to lump sum payouts. The benefit can be paid out as a monthly income instead – which will assist your loved ones with budgeting.