F&TRC launches protection ratings service


Financial research consultancy F&TRC has launched a ratings service to help advisers and employers compare protection providers.

The firm has awarded each provider a gold, silver or bronze rating for their overall proposition and for each of the following categories:

  • Terminal illness benefit definitions
  • Added value benefits
  • Guaranteed insurability options
  • Trusts (for life cover)
  • Waiver of premium
  • Underwriting limits
  • Single and joint life options
  • Underwriting services
  • Exclusions
  • Interest rate options (for mortgage protection)
  • Free cover limits (for mortgage protection)

For life cover, F&TRC has rated Aviva, Bright Grey, Scottish Provident and LV= as gold.

It has rated AIG, VitalityLife and Zurich as silver, and Aegon, Friends Life and Legal & General as bronze.

For mortgage protection, the gold standard has been awarded to Aviva, Bright Grey, Scottish Provident and Zurich.

Silver has been awarded to AIG, LV= and VitalityLife. Aegon, Friends Life and Legal & General have been rated as bronze.

F&TRC director Ian McKenna says: “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.”

Last week F&TRC launched a similar ratings service for auto-enrolment providers.

The firm says it will announce ratings across a range of other sectors later in the year.