Co-op partners with Legal & General to offer Life Cover
19 December 2023
Legal & General has announced a new partnership with Co-op Insurance to offer members and customers its Life and Critical Illness cover. The partnership provides Co-op customers access to high-quality protection products at competitive prices, with exclusive benefits for Co-op members.
The products offered through the partnership are Life Insurance and Decreasing Life Insurance (with or without Critical Illness Cover) and Over 50s Fixed Life Insurance.
Customers who buy a policy through Co-op will also benefit from access to Legal & General’s Care Concierge and Wellbeing Support via RedArc, two additional services provided free of charge.
Care Concierge helps customers and their families find and arrange later life care, while Wellbeing Support offers emotional and practical support for customers and their loved ones during difficult times.
Cover will be available from £5 per month on both Life and Over 50s products, depending on the customer’s age, health and lifestyle.
Matthew Collings, Partnership Development Manager at Co-op Insurance, said: “We’re thrilled to be working with Legal & General to offer our members and customer peace of mind and protection for themselves and their families. This partnership is part of our ongoing commitment to provide products and services that make a difference to our customers’ lives, and to support them through every stage of their journey. We share Legal & General’s values of putting customers first and offering quality products that are easy to understand and access.”
Claire Beardmore, Partnerships Director at Legal & General, adds: “I am delighted to be partnering with Co-op Insurance Services to provide a range of Life and Critical Illness products. Co-op and Legal & General are strategically aligned in wanting to offer products that provide excellent value and important protection to families should they ever need it. With exclusive pricing for Co-op members, we are confident that this new partnership will be a great success.”
-ENDS-
Notes to editors
About Legal & General:
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
- at 31 Dec 2022
About Legal & General Retail:
Legal & General Retail helps create brighter financial futures for all our customers. The division covers the savings, protection and retirement needs of our c.13 million retail policyholders and workplace members.
In 2022, we had total individual annuity sales of £954 million, and issued £632 million of Lifetime Mortgages and Retirement Interest Only Mortgages. Our Workplace pension platform served 4.9 million members, while our Protection businesses gave peace of mind to more than 6.3 million UK life insurance, 1.8 million group and 1.5 million US customers, taking in £3.1 billion of gross written premiums.
About Co-op:
Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance and legal services. Owned by millions of UK consumers, the Co-op operates over 2,400 food stores, over 800 funeral homes and provides products to over 5,000 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.
Employing almost 60,000 people, the Co-op has an annual turnover of over £11billion and is a recognised leader for its social goals and community-led programmes. The Co-op exists to meet members’ needs and stand up for the things they believe in.
Further information
Name: Cordelia Jacob Company: Lansons Tel: + 44 7870397542 Email: cordeliaj@lansons.com
Koren Byrne-Hunte PR Manager Koren.byrne-hunte@landg.com
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
Legal & General Assurance Society Limited. Registered in England and Wales No. 00166055. Registered office: One Coleman Street, London, EC2R 5AA.