PensionBee has introduced a protection insurance offering for its customers in partnership with LifeSearch.
From today (May 30), consumers can purchase fully digital mortgage and family life insurance, as well as critical illness cover from the online pension provider.
The offering will be available as a “compare, apply and buy, online process”, with LifeSearch’s advisers available for consumers who require advice or guidance.
PensionBee chief executive Romi Savova said despite the importance of pension and life insurance products, they can often be seen as inaccessible, complex or overlooked until later in life.
“Our new partnership with LifeSearch aims to make planning ahead as easy as possible, so our customers are able to consider protection from the start of their saving journey, creating a future of financial freedom for all, whatever their aspirations,” she said.
“Pensions and life insurance go hand-in-hand, providing savers and their loved ones greater financial security for the future. While a pension can help savers meet their costs in retirement, life insurance is an essential step in helping prevent financial difficulties that can arise from an unexpected,” Savova added.
As part of the new offering, PensionBee customers are also now able to set up pension beneficiaries in their account dashboard - known as the ‘BeeHive’.
LifeSearch chief executive, Debbie Kennedy said she was delighted to partner with PensionBee with its shared values and “likeminded approach to empower our customers”.
“Their use of smart technology combined with dedicated customer service, is very much in line with our hybrid digital-first approach, supported offline by our team of expert advisers,” Kennedy said.
“With our ambitions to grow the protection market, particularly among younger consumers, and to embrace technology in our sector, this is a fantastic opportunity to support PensionBee’s customers with a seamless online journey, improving access to expert advice and most importantly, feel assured they have found the best cover that is right for them and their needs,” she added.
jane.matthews@ft.com
