Barclays Pension Term Assurance launched online

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Barclays Pension Term Assurance launched online

Barclays has become the first bank to offer a new product direct to its customers over the internet, with the launch of the new Barclays Pension Term Assurance.

As part of the offer, anyone who has been accepted for cheaper like-for-like cover elsewhere can claim £50 from Barclays.

Applying for Barclays Pension Term Assurance should now only take a mater of minutes online and gross premium rates are offered throughout the term of the product.

Chris Carter, head of retail life and protection for Barclays Insurance, said: "If you want to cut the cost of an existing life assurance policy or if you think, like many people, you are under-insured, now is definitely the time to review your cover because there are substantial savings to be made by taking advantage of the new tax laws."

The £50 offer attached to Barclays Pension Term Assurance also applies to Barclay's home insurance.

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