As we begin to get older, it is important to start thinking about how spouses and other loved ones will carry on when we pass away. Although this may be a topic that you are not comfortable discussing, planning ahead is important when it comes to preparing for the future.
Many people over the age of 50 are beginning to consider these possibilities and looking into what Life Insurance options may be available to them. ASDA offers a Life Insurance Over 50s plan that comes with many benefits and guarantees that may make it appealing to policy seekers.
ASDA Life Insurance Over 50s Offers Guaranteed Acceptance and Low Premium Payments
Like many Life Insurance plans available to the older market, ASDA offers guaranteed coverage to policy seekers between the ages of 50 and 80 with permanent residence in the United Kingdom. Better yet, this coverage is granted with no medical examination required and offers low monthly premium payments that will never increase.
When the policy seeker decides how much they would like to pay for coverage, ASDA will guarantee their premiums never go up. It is important to note, however, that the amount of coverage chosen is fixed and inflation may negatively affect the lump sum value. Depending on your age and amount of coverage desired, premiums can begin as low as £5 a month.
Choose Your Level of Coverage and Desired Options
ASDA offers policy seekers the option of choosing their coverage amount and any additional options they would like to add to their plan. Coverage through ASDA can range from a minimum of £650 to a maximum of £10,000 depending on the amount of coverage needed.
You also have the option of choosing how your policy will pay out in the event you pass away – for example, funds can be paid out in a lump sum to beneficiaries or put directly toward funeral costs. ASDA also offers a Funeral Benefit option which can grant up to an additional 10 percent towards burial costs. For every £100 of the lump sum amount used toward funeral costs, £110 will be granted up to £1,000 in extra funds.
Are There Any Additional Benefits?
Aside from guaranteed acceptance, flexible coverage and the Funeral Benefit option, ASDA offers other unique benefits with this plan. Generally, Life Insurance will not pay out if the holder passes away within the first two years of the policy but ASDA will honor payment if the holder passes away after only one year.
This policy also offers a capped payment option, meaning the policy holder will stop paying premiums once that total reaches the amount as their coverage. Conversely, the uncapped payment option is payable for a maximum of 30 years.
Finally, ASDA will offer policy holders a £30 ASDA Gift Card just for taking out a policy. These funds can be used in any way you like with ASDA as a thank you for choosing their company for your life insurance needs.
Having a Life Insurance policy is a great way for older individuals to feel reassured that their loved ones will be well taken care of when they pass away. Benefits including guaranteed acceptance with no medical exam, flexible coverage, and multiple payment options as well as other perks such as the Funeral Benefit option makes ASDA Life Insurance for Over 50s plan a great option.
If you need more information or assistance in deciding on a policy, contact Claybrooke. Our knowledgeable consultants will be happy to explain the program and insure the life insurance policy meets any and all needs.