Asda Life Insurance

Updated: Every six months. Details correct at the time of publication - October, 2008.

The British supermarket chain, now a subsidiary of Walmart, has expanded its extensive list of services into the financial sector. Asda is a rapidly growing 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 courtesy of LifeSearch Limited.

Asda’s general life insurance policy provides a lump sum payment if you die or are diagnosed during the policy period with a terminal illness expected to cause death within 12 months. 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 life insurance is available from as little as 18p a day.

Asda’s mortgage life insurance offers valuable cover designed to help pay off your repayment mortgage. Asda also offers critical illness cover with a basic plan that covers most serious conditions including permanent disability, hearing loss, and loss of sight.

In addition, the company has introduced a policy known as ‘Asda Real Life Cover’, which offers seven types of cover under one policy. It combines life insurance with critical illness cover and income protection and you can even add unemployment cover in case you lose your job.