Asda Over 50s Life Cover is a simple, easy to arrange life cover plan that pays out a guaranteed tax free cash lump sum when you die. It could provide a welcome cash lump sum to put towards funeral expenses, outstanding debts or just to make your loved ones' lives a little easier.

As well as a guaranteed cash lump sum, Asda Over 50s Life Cover provides the following:

• The option to never pay in more than you get out
• Guaranteed acceptance and no medical
• Cover from just £5 a month

If you're a UK resident aged between 50 and 80, you're guaranteed to be accepted. Plus, if your spouse or partner is also a UK resident aged between 50 and 80, they're also guaranteed to be accepted!

If you apply online you can get instant cover. Alternatively, you can arrange instant cover over the phone, just call 0800 202 8104* to speak to one of our friendly colleagues.

And if you have a spouse or partner, they can get instant cover too if they're a UK resident aged between 50 and 80.

Asda Over 50s Life Cover is a whole of life plan. That means that providing you keep up-to-date with your premiums, you're covered for the rest of your life! However, if you stop paying your premiums early you won't get anything back and you won't receive a cash lump sum when you die.

Plus, if you have chosen to cap your premiums you’ll never pay in more than the amount paid out by the plan. This is because as soon as you’ve paid in the amount of cover payable your monthly premiums stop, but you'll still be covered for the rest of your life.

With Asda Over 50s Life Cover you can choose a level of cover to suit you, so you can pay in anything from £5 up to £100 a month. Or you can choose to cap your payments so that you stop paying once the amount you’ve paid reaches your chosen cash lump sum. This means it's guaranteed that you’ll never pay a penny more than you get out. This type of cover starts from £14.59 a month and goes up to £99.38.

It’s important to remember that inflation in the future will reduce the buying power of the cash lump sum or the Funeral Benefit. You should bear this in mind when choosing your level of cover.

No. If you're a UK resident aged between 50 and 80, you're guaranteed to be accepted. You won’t need to visit your doctor for a medical, you won’t be asked any personal questions and there's no need for a doctor’s report when you apply either.

Applying for Asda Over 50s Life Cover is simple and easy. You can apply now. Just make sure you have read the Important Information, then fill out the online application form and as soon as your application is accepted, you'll be covered instantly. Or you can call 0800 202 8104* and speak to one of our friendly colleagues.

For an explanation of the insurance service provided to you, please read the Important Information documents.

No, the plan is designed to cover the life of the plan holder only. If you and your partner both want cover, you must each take out a plan.

You'll pay for your Asda Over 50s Life Cover by Direct Debit. It's the simplest and safest way to make monthly payments from your bank or building society.

No. The plan has no cash-in value and it only pays out on death.

If you have chosen to cap your premiums and you were to stop paying before the amount you’ve paid reaches the cash lump sum, then your plan would end with no value. If you have chosen not to cap your premiums you are required to pay them until you die. If you stop paying at any time then your plan would end with no value. If your plan ends with no value, you wouldn’t get any of your premiums back and your estate would not get your cash lump sum.

The final lump sum is tax-free, and will be paid to your estate and might be subject to inheritance tax.

Asda Over 50s Life Cover is provided by LV=. LV= were founded in 1843 and have a long history of providing financial security for their members and customers.

Although we think it’s unlikely you'll change your mind after taking out Asda Over 50s Life Cover, you do have the right to cancel your plan within the first 30 days. If you cancel your plan within this time you'll receive a full refund of any premiums you have paid.

Before applying for Asda Over 50s Life Cover, you should make sure you have read all the information available to you on our website. We have provided this information so that you can make a decision about whether this plan is right for you. When deciding if this plan is suitable for you, you should consider not only the benefits of the plan, but also the risk factors, such as affordability or your personal circumstances. More information can be found on our Important Information page.

’Charge’ is the term used to describe the process which allows your cash lump sum to be paid to Dignity and used towards your funeral costs.

The maximum funeral benefit receivable is £1,000. If you chose the Funeral Benefit option, your cash lump sum will go towards funeral costs. For example, if your cash lump sum is £5,000 and your funeral cost is only £3,000, the extra 10% would be calculated on the cost of the funeral (£3,000). Dignity would only charge you £2,700 (£3,000 - 10% = £2,700) and it would be taken from your Asda Over 50s Life Cover plan. The remaining £2,300 would be paid to your estate.

No. To receive the Funeral Benefit (the extra 10%) on your cash lump sum you have to use a Dignity Funeral Director. There are over 544 Dignity Funeral Directors throughout Britain and Northern Ireland. Dignity is the UK's leading funeral planning organisation and each year they conduct around 70,000 funerals.

At Asda we believe you deserve the best value for money and that's why choosing the Funeral Benefit option won't cost you a penny extra.

It is important to let your loved ones know about your intentions. If your funeral is arranged with an alternative funeral provider, the money that would have been paid to Dignity would be paid to your estate. However, the extra 10% would not be received and the cash lump sum paid out by your plan may be subject to inheritance tax.

You can change your mind at anytime by simply contacting Dignity. Your charge would be released and your Asda Over 50s Life Cover plan would continue as normal (excluding the extra 10%).

Although you’re able to ‘charge’ your Asda Over 50s Life Cover plan today, you may not be entitled to your Funeral Benefit until you have held your plan for 12 months. If you were to die within 12 months of your plan starting, we may only pay out what you’ve paid in, without interest. In this instance Dignity would release the ‘charge’, and the proceeds of your plan would be paid to your estate and not to Dignity. However Dignity would still be happy to arrange your funeral and apply the equivalent 10% discount, but your next of kin would need to pay for your funeral at the time.