Tesco Insurance and Money Services has formed a partnership with Aviva to help families take their first step into protecting their life.
The Free Parent Life Cover proposition will provide each parent with £15,000 of free life cover for every child under the age of four for 12 months.
A third of young families have no protection cover, according to Tesco Insurance and Money Services, with 38% of parents with a child aged under four not having life insurance.
The Free Parent Life Cover proposition for Tesco customers has been designed to reduce this gap.
Three in 10
The biggest barrier for parents in the UK to buy life cover is cost, according to Tesco, with three in 10 put off by the perception of how much such cover would cost.
This will be part of a broader engagement strategy to help Tesco’s 3.4 million regular customers with young children to adjust to the practical and financial demands of parenthood.
This includes tools to help families understand their protection needs, personalised communications and access to a range of Tesco benefits, Clubcard offers and partner content designed to support early parenthood.
Important first steps
Ban Mahsoub, partnerships director at Tesco Insurance and Money Services, said becoming a parent brings new financial responsibilities that many can feel unprepared for.
“Free Parent Life Cover is designed to give parents a simple, no-cost way to start thinking about protection and their financial futures, while offering immediate peace of mind.
“We’ve made it as easy as possible for families to get started, with a quick sign-up process that takes less than two minutes and doesn’t require bank details or medical questionnaires.
“By removing barriers and meeting customers where they already shop with us, we can help more parents take those important first steps towards protecting what matters most; their loved ones.
“It forms part of our wider commitment to making insurance more accessible, relevant and rewarding for Tesco customers, supporting them through key life moments in a way that feels genuinely helpful.”
Daren Boys, protection distribution director at Aviva, said this initiative will engage millions of families with protection insurance and supports the insurer’s ambition to strengthen financial resilience across the UK households.
“At Aviva, we see first-hand how starting a family can reshape priorities. Free Parent Life Cover is about meeting parents in that moment — offering protection in a way that’s simple and easy to take up.
“Through our partnership with Tesco, our aim is to encourage more families get started with protection earlier and to support them in taking positive steps to build their financial resilience, so they can focus on what matters most.”