Asda Financial Services

Asda Financial Services

November 21, 2011 08:28 ET

Life and the Importance of Insurance

LONDON, UNITED KINGDOM--(Marketwire - Nov. 21, 2011) - A survey has been carried out into consumer opinions on the importance and benefits of taking out a life insurance policy.

Survey participants were asked to rate the importance of life insurance cover on a scale of one to five, with one being very unimportant and five being very important. The survey revealed that 42.42% believe that having a life insurance policy is very important, with just 9.43% on the opposite end of the scale.

Consumers were then asked if they currently held a life insurance policy with an insurer. 49.55% of those questioned revealed that they did have life insurance, with 43.69% opting out of this type of cover. The remaining 6.76% of those questioned had purchased an Over 50's Life Insurance plan.

When asked why those who answered that they were not currently covered with a life insurance plan, common answers included the following:

  • "I had it but it became expensive so I had to cancel it when I had to retire."

  • "Pre existing medical conditions would make it too dear."

  • "I have property and savings. The children have houses and good salaries. Life insurance is and additional expense (now retired) that will not produce a significant sum compared to the other assets. The premiums can be better used (by me) whilst I'm still around to enjoy them."

  • "After the recession and my husband having been out of work for a whole year we have had to cut back drastically and we simply cannot afford life insurance, especially as we are subject to higher premiums because of health/weight issues. We have accidental insurance but we simply do not have any money for life insurance - it's much too expensive!"

ASDA can introduce customers to a range of affordable life insurance policies, including Instant Life Cover. Asda Instant Life Cover, provided by Ageas Protect, offers guaranteed acceptance to anyone between the ages of 17 and 50 with no medical required or complex forms to complete. It's a simple and affordable way to provide cover for the family in the event of the breadwinner's death. Besides Instant Life Cover, Asda can introduce customers to great deals through a wide range of insurance providers to cover every eventuality and personal circumstance.

Advised Life Cover lies at the core of the offering. With this option, consumers are offered free no-obligation guidance and advice when choosing a life policy to suit them. This helps customers come to the right choice about their life insurance policy, which can typically be an overwhelming and confusing decision.

For further information about Asda's Financial Services offering please visit www.asdafinance.com.

Notes to editors

*Data gathered from two surveys carried out by eDigital Research on behalf of Asda Financial Services in June and May 2011, and generated on the 2nd September 2011.

About Asda Stores Ltd.

Founded in the 1960s, Asda today is one of Britain's leading retailers. It has over 170,000 dedicated Asda colleagues serving customers from 424 stores, including 25 ASDA Living stores, 23 depots and eight recycling centres across the UK (Great Britain and Northern Ireland). It has its main home office in Leeds, Yorkshire and its George clothing division based in Lutterworth Leicestershire. Asda serves over 18 million shoppers a week in store and its growing home shopping business serves over 97 per cent of UK homes.

About Chosen By You

Chosen By You is an unprecedented re-launch of Asda's entire mid-tier own brand range, consisting of over 6,923 products. The launch follows an intense period of quality benchmarking and independent customer taste testing, which means Asda customers are given the very best in terms of quality and value. Every single one of the products has been tested by real customers up and down the country at 836 locations – and only those that get a big thumbs up make it into the range. Chosen By You has rolled out into Free From products and 4,250 tests have been conducted with the help from Coeliac sufferers. Asda have already conducted more than 370,000 blind taste tests involving 63,714 customers, making this the biggest piece of product testing ever done by a supermarket.

About Asda's Price Guarantee

With Asda's Price Guarantee customers can be safe in the knowledge that the price they pay at Asda is cheaper than at Tesco, Sainsbury's, Morrisons and Waitrose, otherwise we will refund the difference.

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