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Life Insurance -
Tesco launches new life insurance product for over-50s - 15/05/2008 |
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The financial division of Tesco has launched a new life insurance policy that is aimed at the over fifties and allows the policy holder to leave a tax-free, lump sum to a beneficiary after their death.
The policy does not require a medical check-up for those aged from 50-75 and the holder will stop paying into it when they reach 90 although they will remain fully covered until their death.
“Customers have been telling us that they want a product that meets their needs for leaving something for their loved ones,” said Jeremy Sutton of Tesco Life Insurance. “We’re confident that our prices are the best value cover in the market.”
Tesco has estimated that a man of 55 years paying a £10 monthly premium will be covered to the tune of £2,413. A 55 year old woman would receive £3,060.
The new policy is available from £1.50 per day and those who sign up before June 26th will receive a £20 welcome gift card.
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