ASDA announced it would be rolling out its Life Insurance offer to all 265 stores, in a bid to end what it describes as ‘rip off ‘ premiums charged by some providers.
"We are famous for bringing great value to our 11 million customers a week for their weekly shop and now we are bringing it to the life insurance market," says David Rutley, ASDA’s director of financial services.
"Our research has shown that for the same level of cover some individuals can pay almost double per month for their premium by going with a traditional provider. One case study shows that an individual could save £677 by switching to ASDA Life for the same or very similar cover over 15 years*.
Following a successful 40 store pilot, ASDA life and mortgage life insurance leaflets will be now available through 265 stores. Full details are also available by calling 0845 600 2732 or by visiting www.asda.com
Scottish Widows provide the life insurance products and a dedicated call centre team in Edinburgh. As with all other ASDA financial services, the call centre colleagues have been steeped in ASDA culture to ensure the service is the same great standard customers have come to expect in all its stores.
"Rolling out life insurance shows our continued commitment to financial services. Again we bring customers ASDA’s famously low prices backed by fantastic customer service, added David.
"We want all our insurance products to be easy to understand and apply for ASDA is unique – the whole application process, bar the signature, can be done over the phone."
For quotes customers should call¹:
0845 600 2732 or visit www.asda.com.
Lines are open 8.00am to 8.00pm Monday – Friday and 9.00am to 5.00pm Saturday and Sunday.
Other ASDA insurance products include Motor, Travel and Home Insurance and are available in all the supermarket’s stores, or on line at www.asda.com.
Alternatively, customers can call:
Motor: 0845 300 5771 8am-8pm Monday-Friday, 9am-5pm Saturday & Sunday
Home: 0845 300 5772 8am-8pm Monday-Friday, 9am-5pm Saturday & Sunday
Travel: 0845 300 5773 8am-8pm Monday-Friday, 9am-5pm Saturday & Sunday
Notes to editors
*Example given in quote relates to Female 30 non-smoker, level term 15 years – cover for £100,000. ASDA monthly premium would be £5.70 – Premium from Friends’ Provident is £9.46 per month. Source – MoneyFacts Jan 2004
Examples
ASDA Mortgage Life Insurance
These examples are based on plans for healthy male and female non-smokers, aged 30 next birthday, over a 15-year term for cover starting at £100,000. Figures quoted are monthly payments.
ASDA Life Insurance # Male £5.70 Female £5.00
Legal & General Male £6.80 Female £6.00
Norwich Union Male £7.22 Female £5.98
HSBC Life Male £8.35 Female £7.10
NatWest Life Male £9.00 Female £7.60
Source:Investment Life and Pensions MoneyFacts18/12/03. . #Source : Scottish Widows 18/12/03
ASDA Life Insurance
These examples are based on plans for healthy female and male non-smokers aged 30 next birthday over a term of 15 years with £100,000 cover.
ASDA Life Insurance# Male £7.00 Female £5.70
Norwich Union Male £8.10 Female £6.40
Prudential Male £8.45 Female £7.16
Eagle Star Male £8.54 Female £7.60
Marks and Spencer Male £8.65 Female £7.15
Source: Investment, Life and Pensions MoneyFacts 18/12/03 . #Source : Scottish Widows 18/12/03
¹Calls charged at local rate and may be recorded and monitored.
ASDA Life Insurance plans are provided by Scottish Widows plc.
Charges, terms and limits may change. Full terms and conditions are available on request from Scottish Widows.
Scottish Widows plc, registered in Scotland No.199549. Registered office in the UK at 69 Morrison Street, Edinburgh, EH3 8YF. Telephone 0131 655 6000. Scottish Widows plc is a member of the Scottish Widows and Lloyds TSB Marketing Group, members of which carry on the business and services associated with life assurance, pensions and investments. Scottish Widows plc is authorised and regulated by the Financial Services Authority
