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ASDA Stores Ltd is a British chain of supermarkets that was amongst the first of its kind to take the bold step of venturing into the insurance industry. The supermarket launched its finance department in 1998, and since then it has taken giant leaps and grown tremendously to become a force in the insurance market.
ASDA insurance has been winning the hearts of customers and market watchers alike seeing as it has been granted several awards over the years like the award for “Best Protection Advisor” by Money Marketing Financial Services each year from 2004 to 2010.
About ASDA Mortgage Protection
ASDA Stores Limited was founded in 1949 in Leeds. It was originally Associated Dairies & Farm Stores Limited but adopted the name ASDA after a merger of the Asquith chain of supermarkets and Associated Dairies. The company has 150,000 employees. It has changed hands severally through mergers and buys from companies like Wal-Mart. It is currently a subsidiary of Wal-Mart.
Mortgage Insurance by ASDA
Having put its insurance services out in the field fairly recently, ASDA insurance is relatively new in the insurance business. It, however, hasn’t cowered under naïveté or crumbled under competition from the dominant forces it has clashed with in the insurance field, but it has gone on to ensure that it is felt in the area and has outdone itself to become a leading UK insurance provider.
ASDA as a whole has about 11 million weekly shoppers. This has come as an advantage as they simply adapted the same excellent services in their stores into the insurance division, and they ended up attracting a sizeable number of policy holders. ASDA offers Mortgage life Insurance. The company gets into an agreement with the policy holder with a mortgage to protect his or her family in case of death. The beneficiaries can make a claim on the cover and the company will pay out a lump sum of money to them to enable them to complete an outstanding home loan balance. The amount of cover decreases every year proportionally to the lessening of the amount of balance on the mortgage.
Rival Companies
Rival competitors include Cavendish Online Mortgage Protection
ASDA Mortgage Insurance Reviews
There’s little information on Review Centre regarding ASDA’s mortgage insurance, but there are excellent reviews about its travel insurance on the following link: Review Link. Given the positive reviews on its other insurance products and the rapid growth of its insurance division, it would be fair to trust ASDA to provide quality mortgage insurance and at an affordable rate.
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