BT Life is now on Guardian Advice’s preferred partner list after agreement was reached between the two companies last week.

BT Head of Life Insurance Phil Hay told insuranceNEWS.com.au the agreement will be underpinned by the new BT Protection Plan, which was introduced earlier this year.

“We’re on a large number of preferred product lists, and Guardian is such a professional organisation the decision reinforces the fact that we’re on the right track with product design, technology and back-up,” he said.

Mr Hay says the BT Protection Plan has been ranked in the top quartile by research group Plan For Life. “It allows financial advisers to put ownership of the product either inside or outside super.”

Guardian now has five preferred partners – the others are Asteron Life, AIA, OnePath and CommInsure – providing financial service products. It reportedly has no plans to add any other companies to the list.