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Why Defaqto?

Lifebroker utilised Defaqto's expertise to offer some guidance regarding the quality of the product you buy on our website. The website sorts the products into the premium per month based on Lifebroker's commissipn rebate. As is often the case, quality and therefore 'value' are as important as cost. With Defaqto's star rating system you can assess whether it is paying a little more for something that offers better value - (ie with Critical Illness cover, it may be worth paying slightly more for cover that offers you much more protection). The star rating is simple, the more stars the product has - the better it is (according to Defaqto).

If you want to see more please select the company that you are interested in to see their Defaqto star rating:

• AEGON
• AVIVA
• AXA
• Bright Grey
• BUPA
• Canada Life
• Friends Provident
• Legal & General
• LV=
• PruProtect
• Scottish Provident
• Skandia
• Synergy
• UNUM
• Zurich

Who are Defaqto?

Defaqto is an independent financial research company specialising in rating, comparing and analysing financial products.

Since 1994, Defaqto has built the largest, whole of market, financial product database and become one of the leading providers of financial product data in the UK. Defaqto now cover over 30,000 products across banking, life, pensions, investments and general insurance.

Defaqto's experts validate and analyse the data to provide insight and consultancy to all layers of the financial services sector including IFAs, mortgage and general insurance brokers, providers, web aggregators and the public sector.

Their website is www.defaqto.com.

What is a Defaqto Star Rating?

A Defaqto Star Rating reflects the quality of a financial product, helping you make a more informed decision about which one suits your needs.

So for example, if you are looking for a basic level of home insurance cover, you may want to consider a 1 or 2 star rated product. If however, you are looking for a higher level of features included within you cover, a 4 or 5 star product may suit you better.

Defaqto reviews and assesses the features and benefits of every financial product under each category and award a Star Rating from 1 to 5. You can then decide which product best fits your personal requirements.

Click here to read more about Star Ratings at Defaqto

Defaqto do not assess the price of a product

Prices can change or depend on other factors such as your address, type of car or property or age, for example. So it isn’t always possible to compare products directly and this is why Defaqto don’t include price when assessing and rating a product.

Premier Star Ratings

There are a number of financial products with more specific eligibility criteria, such as a specified income level. They also aim to provide features and benefits that exceed the needs of most people. Defaqto analyses these products separately and applies additional criteria in their assessment. By rating them separately you can be sure the same thorough and methodical approach is applied.

Defaqto Critical Illness Cover Star Rating

Critical illness insurance provides a financial cushion if you were to be diagnosed with one of the critical illnesses listed within the policy. Policies provide financial compensation if you are unable to work, need modifications made to your home or for medical treatment.

There are 3 types of critical illness policies.

• Level term – A life assurance and critical illness policy that pays out on death or diagnosis of earlier critical illness
• Decreasing term – A life assurance and critical illness policy where cover decreases over the term of the policy. This is beneficial if covering a repayment mortgage
• Stand alone – These policies pay out only on diagnosis of a critical illness stated in the policy

Defaqto assesses over 28 criteria when rating critical illness insurances. Amongst these are:

• Cover options available
• Level of cover provided
• Range of conditions covered
• Services available such as health and wellbeing services
• Application process, fees and rates

Defaqto Income Protection Star Rating

Income protection cover provides financial compensation if you are unable to work as a result of long term illness or disability. It generally replaces part of your income tax free and will continue to pay out until you can return to work or retire – whichever is sooner.

Defaqto assesses over 27 criteria when rating income protection. Among these are:

• Cover options available
• Level of cover provided for each feature
• Services available such as health and wellbeing services
• Rates and charges
• Benefits available

Using the Star Ratings

No single product will cater for every possible need so whilst the overall product quality may be excellent, it may provide cover or features that don’t suit your needs or perhaps not provide benefits you are looking for. Defaqto 's Star Ratings should therefore be used as a guide and we would encourage you to check your individual needs are covered before you make a purchase.

Lifebroker guarantees to:

1. offer better value than going direct to the insurance company
2. save you time, money and the hassle of shopping around
3. rebate commission
4. store your personal information securely
5. not pass on or sell your personal information