Tesco Bank has launched its life insurance partnership with Friends Provident, announced earlier this year. All new customers taking out Tesco Life Insurance will have their policy underwritten by Friends Provident.
The following protection products are available for Tesco customers to purchase either via the Tesco Bank website or over the telephone via a dedicated sales team:
- Tesco Life Insurance (level or decreasing cover)
- Tesco Life Insurance (level or decreasing cover) with Critical Illness Cover
- Tesco Critical Illness Cover
- Tesco Over 50s Plan
Benny Higgins, chief executive 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, chief executive officer 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.”
Tesco Life Insurance offers a quick and straightforward application process and customers can get a quote by answering just ten questions and can get cover in 20 minutes by phone or online.
Premiums start from £5 per month. Customers who get a Tesco Life Insurance quote on or before 3rd March 2010 then buy the policy will receive a free £50 Tesco Gift Card. For more information, visit www.tescobank.com.
