UK supermarket chain Asda have announced a new life insurance policy aimed at the over 50’s, in conjunction with mutual insurer LV=. Asda are looking to increase their foothold in the insurance market and aim to treble the number of life insurance policies issued by the company.
Research shows that the over 50’s represent the most affluent of potential clients in the UK, with family wellbeing high on their list of priorities, but with over half having no life insurance arrangements in place, Asda see plenty of scope to improve their own market share.
Premiums for Over 50’s Life Cover start at £5 per month and can be arranged in store, online or by telephone. A spokesman for Asda Insurance explains why the company has targeted the over 50’s age group:
“We know that many of our customers with children or grandchildren would like to leave some money behind for their loved ones, help make their lives easier, shield them from funeral expenses or even just leave a legacy.”
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