Aviva has signed a five-year deal exclusively with Tesco that will see its life insurance products available to Tesco customers.
The agreement will begin in the latter stages of 2012 and will cover the sale of Aviva’s core protection products, including life insurance and critical illness cover.
Products and cover will be available online via the Tesco Bank website and also over the telephone. Customers will also be able to obtain information through some of Tesco’s 2,850 stores. They will include simplified life insurance, over 50’s life insurance and life insurance with critical illness cover.
Aviva already provides Tesco employees with a private medical insurance scheme.
Tesco Bank is also expected to enter into the UK mortgage market over the upcoming months. The mortgage range has been delayed following technical glitches when moving their existing savings and loan products onto a new IT system.
Julia Hopes, Managing Director of insurance at Tesco Bank, says: “We are 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 vital reassurance they look for in life products”.
David Barrall, Aviva Chief Executive (UK and Ireland Life) says: “This is a fantastic opportunity for two household names to deliver a real benefit for millions of people across the UK who unfortunately 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”.
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