Fairer deal for the over 50s, says ASDA

ASDA Financial Services, in a new initiative, has pledged that customers taking out its new Over 50s Life Cover and who maintain their premiums, won't ever have to pay in more than they get out. The commitment ensures customers will only pay premiums until their chosen sum assured is reached. After this point their premiums stop but their cover continues for the rest of their lives.

Meanwhile, the firm's 'no-hassle' policy guarantees acceptance if customers are a UK resident and aged between 50 and 75 - so there are no medical questionnaires or long forms to fill in when applying.

To sign up for cover, four simple questions are asked: date of birth, gender, whether you smoke and how much you would like to pay.

Premiums have been designed to fit every pocket with cover starting at £6.95 a month. The first month's cover is free, monthly payments are guaranteed never to increase and policy holders will benefit from the added bonus of a £30 ASDA gift card when they take out their policy.

The new policy is provided by AIG Life and is available exclusively through ASDA.

12 May 2008 © Moneyextra.com

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