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Tesco launches life insurance for the over-50s

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Tesco has launched a new life insurance policy designed specifically to meet the needs of the over-50s age group.

 

The policy will allow customers to leave loved ones a guaranteed tax-free cash lump sum. Customers who buy before 26th June will receive a free £20 gift card.

 

Customers are guaranteed to be accepted. No medical is required for customers who are between the ages of 50 and 75. There are no complicated forms to fill in, customers can apply easily online or over the phone. Customers stop paying when they reach 90, but their cover will continue until death.

 

Here are some examples of life cover available with the policy: 

 

Age

Male £10 per month

Female £10 per month

Male £20 per month

Female £20 per month

50

£3,171

£3,980

£6,902

£8,661

55

£2,413

£3,060

£5,252

£6,660

60

£1,806

£2,274

£3,931

£4,950

65

£1,351

£1,700

£2,939

£3,700

 

"Increasingly, people are living longer than in previous generations. Customers have been telling us that they want a product that meets their needs for leaving something for their loved ones. We're confident that our prices are the best value cover in the market." says Jeremy Sutton, head of Tesco Life Insurance.

 

Life insurance: News update: May 2008

 

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