Barclays Bank have agreed a deal with Norwich Union to sell life insurance products online it has been announced today.
This new arrangement will mean that Barclays will offer level and decreasing term insurance products to the general public within the next few weeks.
The popular insurance broker already provide motor and home insurance in conjunction with Barclays and are looking to add another notch to their belt.
"The Norwich Union partnership enables us to expand our protection offering to include life insurance - a product which is essential to many customers," said Gary Duggan, Barclays managing director for consumer lending and insurance.'
Their have been dissenting voices however, with the trend of purchasing insurance covers online becoming increasingly popular, Richard Klipin, Association of Financial Advisers chief executive, commented; "The role of websites helps with the education, but it doesn't mean [the customer will] do anything with it, the catalyst comes with the adviser. Particularly in the complex areas, there is the paper trail, there is underwriting and they need to know your medical history."
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