UK Money News
13th May 2008
Tesco launches new life insurance product for over-50s
Tesco has launched a new life insurance policy which has been devised to specifically meet the needs of those in the over-50 age group.
Among the key features of the life insurance cover is the guarantee of a cash lump sum paid to dependents of the dead holder after two years of payments or upon accidental death during the first two years.
The policy also pledges that payments will cease when the customer reaches the age of 90.
Acceptance is guaranteed with no medical guaranteed for customers who are between the age of 50 and 75.
Jeremy Sutton, head of Tesco Life Insurance, said: "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."
A payment of £10 per month by a man and woman aged 50 would see a sum of £3,170 and £3,980 given to dependents upon the death of the policy holder.
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