Norwich Union has announced a major distribution deal with Post Office Financial Services which will make Post Office branded NU protection products available for its customers.
The first product to launch will be a 50 plus life insurance plan. A further life insurance plan will be available later in the year.
Products will be available to purchase over the phone or through the Post Office website. They will also be available at the 14,000 Post Office branches across the UK.
NU intermediary and partnerships director David Barral says: “We are delighted to announce our latest partnership, which builds on our existing relationship as the Post Office’s lead insurance provider.
“This is an exciting opportunity which supports our strategy to develop new distribution channels in particular to increase our offerings direct to customers and to develop new, simpler products which are affordable and easy to buy.”
Post Office director of insurance Phil Ashkuri says: “The Post Office has already attracted well over half a million insurance customers and this new launch builds on our existing range, which now includes travel, home, motor and van insurance and a payment protection policy; Lifestyle Protection.
“As with all our financial services products, our new over-50s life plan offers a simple and straightforward solution at value for money price.”