Virgin Group P.L.C. plans to add a life and health insurance business. [@@]

Virgin, a London company best known for its record stores and its style-conscious airline, says it will start the new line by working with Humana Inc., Louisville, Ky., to introduce an individual health insurance policy.

Virgin and Humana hope to launch the product in early 2006.

The health policy will be the first product available through a new, U.S.-based Virgin Life Care unit, and it will tie in to a health and fitness reward program, Virgin says.

“Virgin Life Care will help our customers get a better deal from health insurers while monitoring and improving their own fitness,” says Virgin Chairman Sir Richard Branson.