Nationwide Building Society, a UK-based mutual financial services firm, has extended life partnership with Legal & General (L&G) for next five years.
As per the terms of the agreement, L&G will continue to provide life, critical illness and income protection products to the members of Nationwide Building Society.
Additionally, L&G will also offer any new protection products it will develop in future.
For the last 12 years, the Society has successfully partnered with L&G for its protection products and has more than 300,000 policies in force.
Nationwide Building Society head of general insurance and life insurance propositions Paul Carvell said: “We are delighted to continue to work in partnership with Legal & General to provide market-leading protection products to our members.
“Our members may have a range of concerns about the financial consequences and stresses for themselves and their family if they are ill, cannot work or die.
“It’s important to provide them with the opportunity to consider whether there is adequate insurance protection in place to cover them when the unexpected happens.”
In February 2008, Nationwide Building Society and L&G started distribution partnership whereby the former agreed to sell protection, investment and pension products to its members.
Nationwide Building Society and L&G renewed their agreement in June 2012 for the supply of protection products.