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F&TRC launch life insurance ratings

Robyn Hall

July 21, 2015

Following consultation with a range of experts and adviser firms each provider has been awarded either a Gold, Silver or Bronze medal for both their overall proposition and also for each of the following underlying categories:

• Terminal illness benefit definitions

• Added value benefits

• Guaranteed insurability options

• Trusts (for Life Protection)

• Waiver of Premium

• Underwriting limits

• Single and Joint Life options (for Life Protection)

• Underwriting services

• Exclusions

• Interest rate options (for Mortgage Protection)

• Free cover limits (for Mortgage Protection)

Michael Aldridge, protection sales director at London & Country, said: “We welcome the new product ratings for Protection from F&TRC.

“It is great to be able to have quick and simple summaries highlighting the pros and cons for each provider, as well as something that identifies premium and economy products, both of which have a valid position in the market place.

“The Gold-Silver-Bronze ratings provide a snapshot analysis of the overall quality of a product, while the individual insurer factsheets provide a greater level of detail.”

The areas listed above were measured individually and results are based upon factual data. In total more than 4,500 questions were applied for each insurer and each category has then been weighted based on its importance in accordance with the views of leading adviser firms and market experts.

The overall awards in the inaugural F&TRC Life Protection and Mortgage Protection ratings are:

Life Protection

GOLD: Aviva, Bright Grey, LV=, Scottish Provident

SILVER: AIG, VitalityLife, Zurich

BRONZE: Aegon, Friends Life, Legal & General

Mortgage Protection

GOLD: Aviva, Bright Grey, Scottish Provident, Zurich

SILVER: AIG, LV=, VitalityLife

BRONZE: Aegon, Friends Life, Legal & General

Ian McKenna, director of F&TRC, said: “We’re delighted to be in a position to recognise those providers delivering excellence in Protection and congratulate our inaugural Gold Medal winners.

“We have gathered huge amounts of data from thousands of questions put to providers. I believe this process makes our ratings the most authoritative in the market and we thank those providers who have taken the time and effort to complete the data requests. We know it’s a lot to ask, but we’ve been encouraged that they, like us, recognise the importance of clear comparative data for a competitive marketplace to survive and thrive.

“This announcement follows the launch of our Workplace Pension ratings earlier this month. We will continue to announce new ratings across a range of other sectors and products later in the year.”


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