Principality Building Society has partnered with protection specialists Vita to provide its clients and members with protection advice.
Vita will work with Principality across its branch network, providing telephone advice to all Principality members.
Principality previously had a single tie arrangement which meant it was unable to offer certain products and was limited by the underwriting outcomes of one insurer.
Vita specialists will carry out training sessions with staff in each of the branches both online and face-to-face. Vita will also provide resources for Principality staff to use with their members when they visit the branch.
Paul Reed, director at Vita, said: “This partnership with Principality ensures that all of their members will have access to the very best protection advice.
“It also helps us achieve our aim that insurance should be available for all, regardless of health and lifestyle. Having access to each insurer in the market means we can really drill into the detail of the full suite of protection products, rather than being constrained by that of one insurer.
“What is more, if any client does needs to make a claim, we take them through the claims process step-by-step, taking away the stress for them and helping ensure that their policy pays out. It provides Principality with the reassurance that their members will be looked after every step of the way. Our aim is to close the protection gap for all those who need it.”
Shaun Middleton, head of distribution at Principality, added: “This agreement with Vita is really about doing the right thing by our members and ensuring that they are financially resilient for whatever life may throw at them.
“This is not just about protection for mortgages, it is also adding value across our whole proposition as this partnership doesn’t only benefit those people just taking out protection for the first time. Working with Vita means we can offer every one of our members the opportunity to have a review of their protection requirements.”