Decreasing cover
Affordable, reliable and reducing cover for a repayment mortgage or loan.
Tesco Bank Life Insurance is provided by Aviva Life & Pensions UK Limited.
£30 Tesco Gift Card is available to new customers with a Clubcard who apply by 13/08/13 and then take out the policy and quote LIFG30. More about this offer.
Decreasing cover
Specifically designed to protect a standard repayment mortgage or loan, Decreasing cover can be an affordable way to repay a repayment mortgage in the event of your death.
Decreasing cover pays out less over time, roughly in line with the outstanding balance on a mortgage.
Decreasing cover includes:
- Fixed premiums, from £5 a month
- A gradually reducing cash sum
- Joint or Single policies
- Terminal Illness Benefit
Please read the important policy information below before applying.
Defined as an advanced or rapidly progressing incurable illness where life expectancy will be no more than 12 months. This is a definition for the purposes of the plan and not a medical definition. You must be diagnosed at least 18 months before the policy term ends. This is not the same as Critical Illness.
Tesco Bank Life Insurance is provided by Aviva Life & Pensions UK Limited.
Important policy information
- Life insurance premiums depend on your personal circumstances.
- Joint policies pay out the sum assured once, on first death.
- A Terminal Illness is an advanced or rapidly progressing incurable illness where life expectancy is considered to be no greater than 12 months. You must be diagnosed with a terminal illness at least 18 months before your cover ends. This differs from Critical Illness cover.
- Payment of Terminal Illness Benefit will also terminate the plan.
- If you cancel your policy at any time you will not get money back.
- Before purchasing Decreasing cover please read:
- Key Facts [PDF, 152KB]
- Plan Conditions [PDF, 126KB]
Additional Terms and Conditions
- Clubcard number must be provided during application.
- One offer per policy. Not to be used in conjunction with any other offer.
- If you cancel your policy within the first 6 months we reserve the right to request a refund of the £30 Tesco Gift Card already given to you.
- The Tesco Gift Card will be posted (no duplicates will be sent) to the policyholder's address after three monthly payments have been made.
- This offer does not apply to the Tesco Over 50s Plan.
For more information:
0845 309 2933
Lines open Mon-Fri, 8am-8pm,
Sat 9am-5pm and Sun 10am-4pm.
Calls may be recorded.
Tesco Bank Life Insurance is provided by Aviva Life & Pensions UK Limited.