Aviva and Tesco Bank enter into life protection agreement
Aviva has announced an exclusive five-year deal with Tesco Bank to provide life protection products for its UK retail customers.
The agreement, which will begin later this year, will cover the sale of Aviva's core protection products, including life insurance and critical illness cover. These products will be available online via Tesco Bank or over the telephone. Customers will also be able to obtain information through some of Tesco's 2,900 stores.
Tesco customers will be able to choose simplified life insurance, over 50s life insurance and life insurance with critical illness cover. This expands Tesco's existing relationship with Aviva which already provides a private medical insurance scheme for Tesco's employees.
Julie Hopes, Managing Director, Insurance at Tesco Bank, said: "We're delighted to be extending our relationship with Aviva. Partnering 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."
David Barral, CEO, Aviva, UK and Ireland Life said: "This 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. Together we can provide Tesco's customers with peace of mind, offering a quick and easy way to purchase a range of protection products to suit their individual needs.
"We are delighted with this new distribution agreement which strengthens further our position as one of the leading life protection providers in the UK. We know too well the challenges families face when they lose a loved one or experience a critical illness, but having financial protection in place can provide some comfort and stability at a difficult time. This relationship, combined with our outstanding record of paying claims, means we will be able to help even more families when it matters most."