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Health benefit company Humana and Virgin announced that they have formed a business alliance.

The project is described as the development of a Virgin-branded and Humana-administered individual health insurance product tied to Virgin's health and fitness reward program.

Humana will be an initial business partner for a new, U.S.-based Virgin company, Virgin life care.

"From music to airlines to mobile telephony, Virgin gives customers the power to choose and use innovative products that they really want. Humana has done the same in health benefits," said Humana President and CEO Michael B. McCallister. "Virgin life care will create products and services for health care consumers that are liberating, life-enhancing and fun. We at Humana are delighted to be part of this exciting new development."

Virgin Chairman Sir Richard Branson said, "With the development of our new company, Virgin life care, we believe that we can offer consumers great innovative products and services, at the right prices. Virgin life care will help our customers get a better deal from health insurers while monitoring and improving their own fitness. With this healthcare alliance with Humana, we'll give customers the value they've been asking for."

The new insurance product is scheduled to launch early next year.

Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.