Tesco over 50s life insurance

Tesco provide a Life Insurance policy for over 50s which is simple and lets you plan for the future, allowing you to leave a cash lump sum to your loved ones as you choose.

It couldn’t be easier to take out a policy, with no complicated forms to fill in, no medical required, and guaranteed acceptance if you’re resident in the UK and aged between 50 and 75.

Once you have joined, you are covered for life. All you have to do is continue to pay the premiums until you are 90. Once you are 90, the premiums stop, but the cover continues and will pay out – whenever you die.

The life insurance policy is provided to Tesco by Direct Line Life Insurance Company Limited.

The only factors affecting your policy are your age, how much you want to pay each month, and whether you are male or female.

Key Features of Tesco’s Over 50s Life Insurance

• You are guaranteed to be accepted if you are aged 50-75 and a UK resident
• You can leave your loved ones a cash lump sum, guaranteed on your death (after having paid into the policy for two years, or payable for accidental death in the first two years)
• Premiums start from as little as £10 a month
• When you purchase a plan, you will receive a FREE £20 Tesco Gift Card
• Whatever your state of health, your premium will never go and your cover will never go down
• No medical is required
• There are no complicated forms to fill in

Frequently Asked Questions

Q: Premiums start from £10 per month. Is there a maximum?
A: Yes, the maximum you can pay per month is £50

Q: If I started the policy at age 50 and paid £10 a month, what would the pay out be after two years?
A: £3,171 for a male; £3,980 for a female

Q: If I started the policy at age 65 and paid £10 a month, what would the pay out be after two years?
A: £1,351 for a male; £1,700 for a female

Q: Is the pay-out inflation linked?
A: No, and it would be advisable to review your cover from time to time

Q: How do I know the plan will meet my needs?
A: In order to understand this, it would sensible to discuss it with an Independent Financial Advisor

Q: Could I cash the policy in before I die?
A: No, the policy has no cash-in value. Thus, if you cancel it or stop paying premiums, you will not get any refund and you will no longer be covered

For affordable over 50s life insurance try our 3 steps to cheaper life insurance.

  What's this?