Tesco Life Insurance
What life insurance products do Tesco offer?
Tesco currently offer the following Life Insurance products :
Fixed term life insurance
Choose Tesco fixed term life insurance and your loved ones will get a fixed cash payment if the policyholder dies. This cash payment could be used to keep the things most important to family life, like their family home and time to recover from their loss without worrying about money.
With all Tesco life insurance products you can get a quote and apply online. You will also get a £20 Tesco Gift card if you get a quote and take out a policy before 13th August 2006.
The Tesco fixed term life insurance can be expanded to add critical illness cover and joint life cover which provides a fixed cash sum if either of the two lives covered dies during the period of cover. (Joint life cover only pays out once on the first death). Terminal illness cover is also included which can pay out a fixed cash payment if you are diagnosed with a terminal illness during the period of cover (excluding the last 18 months).
Premiums are competative and a 25 year old female smoker who is both married and a homeowner can get £100,000 of cover for 20 years for just over £7 per month.
A 40 year old male non-smoker with two children can get £150,000 of cover for 20 years from around £16.75 per month.
(Premiums correct at time of writing)
Mortgage life insurance
Tesco mortgage life insurance helps to pay off a repayment mortgage if you die within the period of cover. The cash sum covered reduces in line with a standard repayment mortgage and you can get a £20 Tesco gift card if you take out a policy before 13th August 2006.
If you have an interest only mortgage the Tesco mortgage life insurance product is not designed for you , but Tesco fixed term life insurance may be suitable.
Terminal illness cover is included and you have the option of adding critical illness cover and joint life cover.
A 38 year old male non-smoker with two children could get £150,000 of cover for 20 years for just over £11 per month.
Life insurance with critical illness
The Tesco life insurance with critical illness product is designed to help if you are diagnosed with a critical illness or you die.
Anyone between 17 and 64 can apply and you have a choice of two types of cover, Critical Illness cover with fixed term life insurance and Critical illness cover with mortgage life insurance.
Tesco critical illness cover is reviewable which means that the costs are reviewed periodically so you policy premiums may be subject to change.