ASDA TARGETS OVER-50S IN LV LINK

It has teamed up with the mutual insurance company Liverpool Victoria (LV) to offer a new product after research showed half of over-50s had no life insurance.

The tie-up with LV will be backed up by a marketing and advertising campaign and is intended to repeat the success of moves into car insurance, credit cards, loans and savings.

Gideon Ingham, Asda’s head of insurance and savings, said: “We know that many of our customers with children or grandchildren would like to leave some money behind for their loved ones, to help make their lives easier, shield them from funeral expenses or even just leave a legacy.”

LV is the country’s largest friendly society with 3.6 million customers, 3,800 staff and £7billion under management.

The company already works with Asda on car breakdown cover through its Britannia Rescue brand.