Life insurance with Tesco is available in two main packages: The Tesco fixed term life insurance plan, and the Tesco mortgage life insurance plan. The Tesco life insurance plan that is best for you will depend on an assessment of your lifestyle and budget, and the level of financial security you require.
If you have dependents who are financially reliant on your income, you may be best suited to the Tesco fixed term life insurance plan, which offers life insurance for a set period, and pays a cash sum if you should die during the life insurance term, develop a critical illness, or be diagnosed with a terminal illness.
The Tesco mortgage life insurance plan is a decreasing term life insurance product. The amount paid out upon your death within the term should be adequate to pay off your mortgage, with the amount of cover on this life insurance plan reducing by a pre-set amount each year as the amount outstanding on your mortgage lessens. However, the decreasing life insurance protection offered by Tesco does not necessarily have to be tied to your mortgage; it may be used as a complement to your personal savings and investments to ensure your dependents are provided for in the event of your death.
Ensure a Tesco life insurance policy meets your individual circumstances by completing the form on this page. Totally Money will connect you with an independent life insurance advisor for free, no-obligation advice, to ensure that you find the best life insurance policy for your requirements.