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 Tesco launches life insurance for over 50s but asda deems it 'unfair'Expatriate Medical Insurance news about Medical Insurance, Health Insurance, Health Care Insurance, Expatriate Health Insurance, Affordable Health Insurance, Cheap Health Insurance.  Tesco added the over 50s to its life insurance portfolio before this month as it announced a new policy specifically designed for client aged betwixt 50 and 75. The policy will allow client to leave their loved ones a guaranteed cash sum, and they are guaranteed to be accepted without the invasion of a checkup examination. According to Tesco, life insurance for over 50s is becoming increasingly important as life anticipation rises. Jeremy Sutton, head of Tesco Life Insurance, said: "progressively, people are life longer than in previous generations. Client have been relation us that they want a merchandise that meets their needs for departure something for their loved ones." nevertheless, ASDA Financial Services, which also offering life insurance for the over 50s has hit out at Tesco's, accusing its new life insurance policy of being unfair. Head of insurance at ASDA, Gideon Ingham, said: "Tesco's offer is another addition to all the other over 50s life cover merchandise that are unfair as consumers could have to pay in far more than their cover will pay out. "We cannot understand why another new merchandise to marketplace hasn't got a cap on it. This launch looks like every little premium helps Tesco and we are request them to reappraisal its offer and introduce a cap." ASDA's life insurance for over 50s is unique in the way that the client only pays insurance premium until their chosen assured sum is reached. After that the insurance premium stop but the cover continues for the rest of their lives. Mr Ingham continued: "For too long, one thousand of over 50s Life Cover policy holders have been penalised for life longer by having to pay much more in insurance premium than is paid out. ASDA has a long standing reputation as a consumer champion and will go that extra mile to identify policies which do not unfairly penalise customers." "Our new cover is going to ruffle a few feathers, but it's high time that this customer group was treated fairly â€" so we think that all over 50s life policies should put a cap on premiums." He concluded. ©Fair Investment Company Ltd More Expatriate Medical Insurance News |