The new offering launches Avelo Exchange's extended whole of life service catering for guaranteed over 50's products.
It said the product has been revised and updated to permit distribution through intermediaries following consultation with the adviser market.
Dave Miller, provider relationship manager at Avelo, said: "With the advent of the Retail Distribution Review (RDR), protection is an area of increasing importance for advisers.
"How advisers adapt their businesses as we progress towards RDR is going to be critical and technology will be a key enabler."
Karl Elliott, marketing director at Engage Mutual, was pleased with the partnership and added: "Understanding the market is critical to ensuring that our products can assist advisers in solving their clients' protection wants and needs."