New life insurance deal

Thu, 21 Aug 2008

As reported on last week, Barclays Bank have signed a deal with Norwich Union to sell all life insurance products online. The online move has caused some controversy amongst financial advisers, who regard insurance purchase online as only part of the process.

The arrangement will allow Barclays to offer level and decreasing term life insurance products to customers within a few weeks, via Norwich Union. Barclays provide motor and home insurance via Norwich Union.

The managing director for consumer lending and insurance at Barclays, Gary Duggan, reportedly commented: "The Norwich Union partnership enables us to expand our protection offering to include life insurance - a product which is essential to many customers."
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