"We look forward to our continued work with the mutual and are excited to see how we can better support the financial security of millions across the UK."
- Debbie Kennedy, CEO of LifeSearch
This partnership gives Yorkshire Building Society’s customers more choice when purchasing protection products such as Life Insurance, Critical Illness (CI), and Income Protection (IP). Notably, the partnership sees the mutual moving away from its previous ‘single-tie’ partner model to a ‘multi-tie’ broker approach, with LifeSearch.
Customers will be able to request quotes and buy protection online, directly from the Yorkshire Building Society website. With LifeSearch integrated into its customer journey, customers can also request to speak with an adviser from the brokerage to assist with more complex decisions or discussions about health-related conditions.
No commission will be made for any referrals, with commercial savings passed directly back to customers via reduced monthly premiums. This ensures customers can get the best possible value available – a core principle of the Financial Conduct Authority’s (FCA) Consumer Duty.
“I’m pleased to launch this new service to our customers. Finding partners that hold values aligned with our purpose was essential. We’re confident we’ve found this in LifeSearch and I’m excited to see how they can help our existing and future customers with their protection needs going forward,” explained Chris Irwin, Director of Savings at Yorkshire Building Society.
He said: It’s important for our customers to be able to access insurance products at an affordable price. We believe passing any commission back to customers in their premiums continues to demonstrate our commitment to providing our members with value.”
Debbie Kennedy, CEO of LifeSearch, added: “We’re delighted to be working closely with Yorkshire Building Society to build this service and help better protect its customers, with real help for real life. Financial vulnerability is rising fast, with many people not realising what protection they might need, what’s available or best for them, or how to get it. This is where we come in. At LifeSearch, our core purpose is to protect people, properly.
“Together, we’re giving customers much-needed peace of mind that – in the event of an accident, injury, serious illness or death – they and their loved ones will be more financially prepared and resilient to whatever life throws at them.”
