Peterborough-based BGL Group has anounced the signing of a five-year contract with Virgin Money.
Under the deal BGL, based in Orton Southwell, will provide its new life insurance solution to the Virgin Money bank.
It will feature level and decreasing term insurance with with optional critical illness cover and will be launched in the summer.
It is the first life insurance affinity partnership for BGL Group and will build on the success of Junction, which is BGL’s personal lines affinity insurance business and the largest in the UK.
Peter Thompson, BGL group director, said: “We’re delighted to be working with Virgin Money to launch their new life insurance product.
“It’s a natural partnering of two innovative brands which both put the customer at the very heart of the proposition.
Mr Thompson added: “This has been a new venture for BGL Group as we combine the partnerships expertise of Junction with the skills of the team at BeagleStreet.com who have done so much to modernise the process of buying life insurance over the past few years.”
Rhian Emmanuel, director at Virgin Money, said: “We are very excited to be partnering with BGL Group to provide our life insurance proposition.”
“Life insurance satisfies a key area of need for Virgin Money customers and we look forward to working with BGL Group to offer our customers an accessible, digitally-led proposition.”