Tesco Life Insurance


tesco life insurance                     Tesco Life Insurance

Tesco Bank, trading as Tesco Personal Finance plc,  is owned by the largest supermarket in the UK, Tesco. Tesco Bank is a telephone and internet based commercial bank founded in 1997 in Edinburgh, Scotland.

Tesco Bank offers finance and insurance, mortgages and credit cards.  Tesco Bank was a joint venture company, 50% being owned by Royal Bank of Scotland, one of the biggest banks in the UK, and 50% owned by Tesco personal finance plc until 2008 when Tesco bought RBS’s share for £950 million. Tesco Bank has 2,818 employees, has declared a revenue of 700 million in 2011 / 2012, and its total assets are worth £7.605 billion.

Tesco offers life insurance, with the help of Aviva Life & Pensions UK LTD, previously in partnership with Friends Provident or Friends Life.

Tesco offers the following types of life insurance:

Level Cover

If you pass away or suffer from a terminal illness ( where life expectancy is no more than 12 months)  during the term of the cover, a lump sum will be paid to your family, a previously agreed amount chosen by you, which remains the same for the duration of your policy.

What are the benefits of getting a Level Cover ?

Cheap premiums, starting from £5 a month

Pays a cash lump sum to your family

Joint cover insurance is possible

You can use it to protect your mortgage

Premiums are fixed for the duration of the policy

Decreasing Cover

This type of cover was created to protect a regular mortgage repayment or loan in the event of your death. Compared to the level cover, the decreasing cover pays out less over time, in line with your mortgage’s outstanding balance.

What does a Decreasing Cover provide?

  Fixed premiums, starting from £5 a month.
  The cash sum will gradually reduce.
  You can have single or joint policies
  You have a terminal illness benefit (  diagnosed with an incurable illness with a life expectancy of no more than 12 months, diagnosed at least 18 months before the end of your policy)

Over 50’s plan

This type of insurance was designed for people over 50, if you’re between 50-80 you’ll guaranteed to be accepted for this plan.

What does this plan offer ?

You will not be asked any medical or health questions, no health exam

Premiums start from £7 a month

  Premiums are fixed

  You have the Funeral Benefit option ( see below )

What is the Funeral Benefit option ?

The Funeral Benefit option is a free optional for your over 50’s life insurance plan. If you select this free option it will enable the lump sum to be directed towards the cost of your funeral.

Critical illness cover

This type of cover is an extra that can be added to any life insurance policy, and will pay a lump sum if you’re diagnosed with a critical illness previously defined. This covers over 48 conditions, including several types of cancer, heart attacks, strokes, coma, dementia, Parkinson and Alzheimer.

What does the critical illness cover include ?

Premiums are guaranteed

The cash lump sum

Children’s Critical Illness cover

What is the Children’s Critical Illness cover ?

This cover is included with all Critical Illness covers, free, at no extra cost. It covers your children for 25,000 if they are diagnosed with a critical illness.

Whatever your requirements are you can compare Tesco life insurance plans with hundreds of other plans from UK’s top life insurers by completing our short form. You will receive a free quote provided by an experienced FSA adviser who will offer you all the help and advice you need and explain things to you in words that you can understand with no jargon and complicated financial terms so you can rest assured about making the best decision possible knowing that if the unexpected were to happen your loved ones will be safe.