Sainsbury’s announces life insurance discount

Sainsbury’s Bank has confirmed that it is offering a five per cent discount on life insurance premiums for the life of policies that are purchased before September 11th this year.

Cost of life cover with Sainsbury’s varies based on customers’ age, the term of the policy, options selected and state of health. The provider claims that premiums can start from £5 a month.

The five per cent discount will be available to customers who purchase online or by phone.

According to Sainsbury’s Bank, its life insurance premiums are “among the most competitive available” and it rarely features in ‘best-buy’ tables.

Claire Moyles, life insurance manager at Sainsbury’s Bank, said: “Life insurance can provide great peace of mind in the knowledge that your dependents would receive a cash lump sum if you were to die during the term of the plan.

“Quality cover does not have to be expensive and right now you can save an extra five per cent with us.”

Comparing itself to Standard Life, Scottish Widows and Abbey, Sainsbury’s claims that its life insurance offers savings of £180, £279 and £289.80 respectively over a 15-year term.