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Sainsbury&#39s signs with L&G

Sainsbury&#39s has entered a partnership with Legal & General to sell life assurance through its supermarkets.

The move marks Sainsbury&#39s first jaunt into non-advised term assurance. As well as through its supermarkets Sainsburys will sell the product on the internet and over the phone.

This sees the first time L&G has tied to a supermarket as part of its direct marketing operation, which also includes Barclays Bank, National Australia Bank and Chelsea Building Society.

Sainsbury&#39s Bank chief Executive Tim Pile says: “We now have around 2 million customer accounts and continue to grow at a rapid rat. Our latest figures saw us achieve 29 per cent customer growth last year and increase our insurance sales by 66 per cent.”

L&G group director (retail distribution) Kate Avery says: “”Together with our IFA and other intermediary partners, Legal & General is at the forefront of providing good value for money life products through a balanced distribution network.”

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