Friends Provident today announced a deal with retail giant Tesco to distribute protection products direct to the consumer (D2C).
The "in principle" agreement with Tesco Personal Finance may see products including life insurance and income protection (IP) made available without professional financial advice before the end of the year. It follows a growing trend of providers utilising the big-brand power of supermarkets to reach the mass market. Existing D2C distribution arrangements include life insurance deals between LV= and Boots, and Legal & General and Sainsbury's. Previous moves caused uproar among advisers as retailers were discounting their commission from their product prices in a bid to pull in the custo...
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