Lloyds Bank launches online life insurance

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Lloyds Banking Group has gone live with its first online protection product called ‘My Life Insurance’.

Offering life cover up to the value of £500,000 to Lloyds, Halifax and Bank of Scotland customers, the service is available through the group’s internet banking portal and tablet app. Users are taken through a six-step process and can be instantly covered as soon as their application has been completed and accepted.

Adrian Bryant, director of digital at Lloyds Bank, said: “The protection gap continues to grow, with a number of people needing but not having any form of financial protection. My Life Insurance is simple and easy to use and offers a convenient quality service to customers to help them identify their protection needs. Customer behaviour is changing, with more and more people wanting to choose and access their products online, anywhere and at any time,” he continued. “We are really excited to be launching our first online protection product that will allow us to meet the needs of our customers and encourage those to protect their families and loved ones in times of need.”

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