Leading insurer Aviva has agreed a five-year deal with supermarket giant Tesco that will enable the company to offer life protection cover to its customer base in the UK.
The new partnership is good news for the consumer, as there will be more choice of life insurance products. But to get the best deal on your life insurance, you can compare life insurance policies with Money Expert.
Life insurance, over 50s life insurance and critical illness cover will be sold by Aviva via Tesco Bank, with the products being promoted in Tescoís 2,900 stores. Customers will only be able to purchase the products online or over the phone.
ìThis is a fantastic opportunity for two household names to deliver a real benefit for millions of people across the UK who have no family protection in place,î said David Barral, CEO of Aviva UK and Ireland Life Insurance.
ìWe can provide Tescoís customers with peace of mind, offering a quick and easy way to purchase a range of protection products,î he added.
The partnership may have been influenced by the forthcoming introduction of the retail distribution review (RDR), which is set to change the way financial products are sold.
ìWe’re delighted to be extending our relationship with Aviva,î said Julie Hopes, Managing Director of Insurance at Tesco Bank.
ìPartnering with one of the UK’s leading life protection providers will bring benefits to our customers offering them a range of straightforward and good value products that we believe will give customers the reassurance they look for in life products,î she added.
The last year has proved tumultuous for Aviva, with the insurance provider experiencing a dip in its share prices and the resignation of chief executive Andrew Moss.
To get the best deal on your life insurance, you can compare life insurance policies with Money Expert.