Engage Mutual Assurance is hoping the offer will encourage busy shoppers to take a break, consider their money matters and have their queries answered by the Engage ‘Smiles in the Aisles’ team.
The in-store events are primarily aimed at those aged between 50 and 75 years young, as this is the age at which customers are eligible to purchase ASDA’s Guaranteed Acceptance Whole of Life cover, offered by Engage Mutual Assurance.
Busy parents can also learn more about the ASDA Child Trust Fund (CTF) which is offering the lowest contribution rate on the market of just £5, making regular saving into a ‘stocks and shares’ stakeholder CTF easier for those on maternity pay or with more than one child eligible for the scheme.
Karl Elliott, Engage Mutual Assurance’s Marketing Director said, “Our organisation doesn’t have branches, so giving people the opportunity to find out more about what we offer in their local supermarket is really exciting for us. ‘Smiles in the Aisles’ is about breaking down barriers and making simple financial products as straightforward to purchase as a pint of milk or loaf of bread. Whilst some people may want more complex products from their high-street bank or financial advisor, I believe that just as many people want to make basic investments or purchase low-cost cover without the need for advice, relying instead on clear information, their own experience and good value for money.”
So, if you’re lucky enough to be aged between 50 and 75, if you have a child born on or after 1st September 2005 or if you are expecting a baby, head down to your local ASDA store for your ‘Smiles in the Aisles’ sticker.
The ASDA Over 50s Whole of Life Cover from Engage Mutual Assurance:
No medical or health questions
Guaranteed tax-free lump sum
Cover for up to £16,000
Low-cost life insurance premiums from £8 per month
Guarantee premiums will never rise
First month’s premium paid
Up to £25,000 of cover for accidental death in the first 2 years
The ASDA Child Trust Fund from engage Mutual Assurance:
The stakeholder CTF is an equity product that initially invests in the Engage Investment Growth Fund
The CTF has built in life styling – once the child reaches age 13, the money is gradually moved from the Engage Investment Growth Fund into less speculative assets – the Engage High Income Fund – by 20% each year, to lock-in gains as the account reaches maturity. At age 17, 100% of the money is invested in the Engage High Income Fund, although life styling can be switched on or off at anytime and any money transferred into the engage High Income Fund can be transferred back in to the Engage Investment Growth Fund at any time. As this is a stock market based investment, its value can fall as well as rise. The child may not get back all that has been invested for them.
The annual charge is 1.5%
The minimum contribution is £5
Partners include ASDA, Debenhams, Legal and General and NAAFI Financial
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
*Independent research from BDRC June 2005