To extend life insurance product offering to potential customers directly
Tesco Bank has entered into life insurance partnership with Friends Provident. As a result, new customers seeking Tesco Life Insurance will have their policies underwritten by Friends Provident.
The protection products available for Tesco customers to purchase either via its website, over the telephone or via a dedicated sales team include Tesco Life Insurance (level or decreasing cover), Tesco Life Insurance (level or decreasing cover with critical illness cover), Tesco Critical Illness Cover and Tesco Over 50s Plan.
Benny Higgins, CEO of Tesco Bank, said: “Our customers told us that they wanted their life insurance applications to be simple and quick to complete. The life insurance partnership with Friends Provident has enabled us to provide a new application process that is straightforward and means that customers can get life cover in just 20 minutes. We will continue to listen to what our customers want as we further develop our product range.”
Trevor Matthews, CEO of Friends Provident, said: “This is an exciting new chapter for Friends Provident to begin working with the UK’s leading supermarket bank. The new arrangement opens up a whole new market for the protection side of our business. We are pleased that through this new partnership we can extend our product offering to potential customers directly.”