View more on these topics

Ageas launches guaranteed life cover with Asda

Ageas Protect has partnered with supermarket Asda to launch a guaranteed life cover product with no underwriting.

The Asda Instant Life Cover product will be marketed through Asda’s 500 UK stores and will also be available via the telephone and online.

The product is available  for UK residents aged between 17 and 50 years old, and monthly premiums range from £5 to £15.

Ageas UK chief executive Barry Smith says: “This is a real milestone for Ageas Protect and the new partnership with Asda is part of the ongoing delivery of our multi-distribution strategy across our UK businesses.

“Three years since its launch, Ageas Protect is building on its already strong presence in the IFA market by widening its distribution so it can offer protection products wherever customers choose to buy their insurance.”

Asda head of financial services Kirsty Ward says: “We know our customers want an easy, quick and good value product to cover their protection needs and, working with Ageas Protect, this is exactly what we offer.

“The fact that it offers guaranteed acceptance means our customers are covered in minutes and it is a completely hassle free experience.”

Asda will offer the Instant life Cover product alongside its existing advised life cover service through LifeSearch.


RoyLon moves to shut down Royal Liver Liverpool office

Royal London plans to close Royal Liver’s Liverpool office, putting 222 jobs at risk. It wants to integrate the Liverpool operation into the Royal London operation in Wilmslow. This would result in 222 staff being made redundant at the Liverpool office, with 105 new roles to be created at Wilmslow. A further seven roles would […]

US Treasury’s Geithner to stay on ‘until autumn of 2012’

US Treasury secretary Tim Geithner is to stay in the role until at least the autumn of 2012, putting an end to rumours he planned to step down after the country’s debt deal was struck last week, according to reports. While negotiations on Capitol Hill over raising America’s debt ceiling were ongoing, Treasury officials refused […]

Inflation to be above target for “at least another year”

Inflation is likely to remain above the Government’s target of 2 per cent for “at least another year”, according to the Bank of England. The latest figures show inflation stood at 4.2 per cent in June, after falling from 4.5 per cent in May. The Bank of England cut its growth forecast today, from 1.8 […]

FTSE Live: FTSE 100 up 3 per cent at close

16.45pm: The FTSE 100 has risen more than 3 per cent after a volatile day of trading. At close, the blue-chip index was up 3.11 per cent at 5162.83. The Cac 40 was also up 2.9 per cent at close, while the Dax was up 3.3 per cent. At 16.45pm, the Dow Jones was up […]

Is three a crowd?

The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd.   I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

  1. This is an intriguing launch and I just hope that Ageas extends its availability to the IFA sector which provided support and promotion when they launched three years back.

  2. Kirsty Ward suggests ASDA customers want a quick, easy and good value product. Well, I can’t argue with the first 2 points but whether this product can be classed as good value is a matter of opinion.

    Compared to an underwritten plan the level of cover is less than half for the same term and benefit level, so unless a client was to be loaded by 100% or more then the product is fairly poor value for money in my opinion.

    I wonder which demograhic ASDA are targetting this at? Those clients who are loathed to have a 20-minute conversation with an adviser and take another 20-minutes to complete a medically underwritten policy for the sake of their families financial protection? That’s fine if this is the case, as I’m sure there is a mass market out there, but don’t propose the product is good value. It’s poor value for most clients but serves a purpose for a specific type of clientele.

    I also wonder how many clients will take out their instant life cover then arrange critical illness cover and income protection elsewhere? Bravo for the innovation, but personally, I think it’s a little backward step when the industry is looking at ways to ensure client’s protect themselves in a more rounded way than just taking life cover.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm