ASDA Financial Services has launched new ASDA Real Life Cover, which claims to protect customers against almost any serious eventuality combining seven essential protection covers including life and income protection.

ASDA has teamed up with LifeSearch and Fortis, to make this service available direct to customers at ASDA. Real Cover is also available from LifeSearch and a limited number of IFAs.

The plan has been designed so that customers no longer need to take out separate policies for life insurance, critical illness cover and income protection and therefore only need to pay one premium instead of three.

According to the company, with Real Life Cover, customers can make as many claims as they need to; providing there is still money left in their fund. Life Fund is never affected by any claims made on Living Fund, so customers will still get the full amount on death or terminal illness.

Gideon Ingham, head of insurance at ASDA, said: With consumers facing a tumultuous economic climate and a gigantic GBP2.3 trillion life and GBP190 billion per annum income protection gap, we believe the launch of Real Life Cover can address a growing problem. It provides the protection our customers need at a price they can afford.