Defaqto Life Insurance

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Defaqto life insurance

What is Defaqto?

Defaqto is a company that specialises in comparing products from financial institutes.

They’re designed to help customers find the best financial products with their Defaqto star rating system.

Established in 1994, Defaqto have expanded to assess over 43,000 financial products in the UK.

As a result, more than 300 brands from 200 companies across the UK’s financial services industry use these rankings.

However, not all companies have Defaqto ratings. For example, despite Reassured being the UK’s largest life insurance broker^*, we don’t have a Defaqto rating.

We can help compare life insurance quotes from insurers who are rated 5 stars by Defaqto.

Reassured are rated 'Excellent' on Trustpilot by over 80,000 customers, so why not get in touch?

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Does Defaqto review life insurance products?

Yes, Defaqto provide reviews for multiple financial products, including life insurance.

Defaqto provide reviews for some of the biggest life insurance providers, including Aviva, Scottish Widows, Legal & General, LV= and Zurich.

Defaqto life insurance reviews also include separate ratings for each type of life insurance (for example, term based cover, whole of life insurance and over 50s plans). This means they can offer multiple reviews for each insurer.

Is Defaqto reliable?

Defaqto are regarded as a reliable source of unbiased reviews.

Most reviews can be subjective and influenced by individual employees as opposed to the merit of a certain product a company offers.

Defaqto, therefore, remove certain aspects from their reviews. This results in a review that is solely product based.

There are pros and cons to these reviews, which are listed below:

Pros

Ease of use - Defaqto have built a system which means you can review a product at a glance. A data numerical analysis method reviews product features individually and on a regular basis
Features and benefits - Financial products are rated higher depending on the amount of features and benefits included
Small print - Defaqto’s analysts check the small print of products to help give an indication about whether a products features are as advertised
Extensive analysis - “Defaqto employs over 60 analysts spending 400 hours a day monitoring the market, ensuring that the information provided is accurate and up to date”

Cons

Price isn’t factored - This is due to the monetary value of a product being a subjective decision. This means there can be a wide financial difference between two similar 5 star products
Customer service isn’t factored - For a review to be truly unbiased, it cannot include a customer service rating. This is because an employee or customer has the potential to influence these ratings
Rating system is flawed - Defaqto’s rating system won’t show if a product is good or bad. Instead, products are rated on their features and benefits or how basic a product is. A 1 star review may not necessarily mean a bad product. It would just mean a product is outclassed by an alternative with either the same or a different provider
Product features are weighted differently - This can lead to parts of a policy you value not having much of an effect on the overall rating. For instance, there may be certain benefits that are a requirement on a life insurance product for you. If these benefits are not weighted equally, you may find a product with 3 stars may be more suitable to your needs then one with 5 stars. Essentially, life insurance or any financial product is designed to be highly detailed, resulting in being difficult to analyse, let alone with one single score between 1 and 5

While Defaqto are undoubtedly a great source for unbiased reviews, it’s worth looking at an array of reviews from other companies, including Trustpilot and Google reviews.

Alternatively, you can always speak to an expert (like Reassured) for life insurance quotes.

We’re able to compare life insurance products from some of the UK’s leading insurers, as well as some smaller specialists (through our advised team) to find you our best deal.

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What is a Defaqto rating?

Defaqto ratings are scaled from 1 star to 5 stars, with a higher number of stars indicating a better product.

Defaqto star ratings indicate the following:

1 Star - A basic version of a product. These products won’t have many additional features or benefits.

2 Star - A basic version of a product. It may have some additional features and benefits but will still have a below average amount.

3 Star - An average version of a product which includes an adequate amount of features and benefits.

4 Star - A good product which will have a decent level of features and benefits included.

5 Star - An excellent product which has a wide array of features and benefits.

However, this means that a product that receives a 5 star Defaqto rating isn’t necessarily the best product for an individual.

Products with a Defaqto 5 star review may have additional benefits or features that you may not want or need. As a result, a product that has a lower rating may suit you better in these circumstances.

That’s why it’s essential to always compare quotes from multiple providers to find the right life insurance to meet your needs.

Why not let Reassured help you to do this free of charge?

How can Defaqto help you choose life insurance?

While Defaqto can’t make a decision on which life insurance you should take out, they can help you to be more informed about what life insurance products exist.

However, first you’ll need to determine the type of life insurance you require.

To do this, it is worth considering why you need life insurance, how much cover is required and how much you can afford to pay.

Life insurance can be used to help cover the following:

Mortgage and rental payments - Ensuring your family are protected if the worst were to happen to you, and to help prevent them from losing their family home.

Outstanding debts - Help loved ones to pay off any debts in your name or provide funds to help a significant other cover joint debt.

Funeral costs - Help prevent your loved ones from having to pay for expensive funeral costs out of their own pocket (the cost of just a basic funeral now stands at £4,141^[1]).

Day-to-day family living costs - Such as utilities, council tax, food bills, childcare and travel alongside other necessary day-to-day payments

An inheritance/charity donation - Leave a sum of money to family members, friends or a charity which means a lot to you.

Each type of life insurance may be more or less beneficial to you depending on your personal circumstances and reasons for needing life insurance.

Below are the different types of life insurance:

Level term life insurance

Level term life insurance offers cover for a set period (up to 40 years)
The sum assured (pay out sum) is fixed
Premiums (monthly payments) are fixed
Maximum sum assured can be up to £1,000,000
Can be taken out through Reassured from just 20p-a-day^†

For more information you can check out our level term life insurance page.

Decreasing term life insurance

Decreasing term life insurance offers cover for a set period (up to 40 years)
The sum assured decreases throughout the policy lifetime
Premiums (monthly payments) are fixed
Maximum sum assured can be up to £1,000,000
Can be taken out through Reassured from just 20p-a-day^¥

For more information you can check out our decreasing term life insurance page.

Whole of life insurance

Whole of life insurance covers the policyholder for life
Guarantees a pay out on a successful claim
Sum assured and premiums are fixed
Maximum sum assured can be up to £1,000,000
On average, it’s more expensive than other life insurance products
Can be taken out through Reassured's advised team from 27p-a-day^±

For more information you can check out our whole of life insurance page.

Over 50 life insurance

Over 50 life insurance is only available to UK residents aged between 50 - 85
Acceptance is guaranteed and requires no medical information
Sum assured and premiums are fixed
Maximum sum assured can be up to £20,000 (depending on age, lifestyle and budget)
Cover will last for life
Available through Reassured from £5 a month (subject to your age & smoking status)⁺

For more information you can check out our over 50 life insurance page.

The table below displays the providers available at Reassured and their life insurance products we can help arrange:

If you’re unsure about whether a product is suitable for you, it’s worth checking the terms and conditions to ensure you’re taking out the right cover.

Alternatively, you can get in touch with Reassured to receive a no-obligation and fee-free quote. Quotes start from just 20p-a-day, so why not get in touch?

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Defaqto reviews

Reassured offer life insurance from some of the UK’s best life insurance providers, some of which are rated 5 stars by Defaqto.

See below for the life insurance providers we offer and their Defaqto ratings:

Aviva life insurance

Level term life insurance:

Life insurance+
Life insurance+ upgraded
Life insurance plan
Simple life insurance

Decreasing term life insurance:

Aviva life insurance+
Aviva life insurance+ upgraded
Decreasing cover
Simple life insurance

Legal & General life insurance

Level term life insurance:

Multi Protection
Multi Protection+ CI & Children’s Extra
Multi Protection +CI Extra
Multi Protection Children’s Extra
Level term assurance

Decreasing term life insurance:

Multi Protection
Multi Protection+ CI & Children’s Extra
Multi Protection +CI Extra
Multi Protection Children’s Extra
Decreasing term assurance

LV= life insurance

Level term life insurance:

Life and enhanced CI with enhanced children’s CI
Life and enhanced critical illness
Life and critical illness cover
Life protection

Decreasing term life insurance:

Life and enhanced CI with enhanced children’s CI
Life and enhanced critical illness
Life and critical illness cover

OneFamily over 50’s plans

Over 50’s life cover:

Over 50’s life cover+

SunLife over 50’s plans

Over 50’s life cover:

Guaranteed over 50’s plan

The Exeter life insurance

Level term life insurance:

Real Life

Decreasing term life insurance

Real Life

Zurich life insurance

Whole of life insurance:

Business whole of life
Whole of life

Why not compare quotes using our FCA-regulated broker service? By comparing multiple quotes we can find you our best deal from our panel of insurers.

Other review platforms

Defaqto are a reliable source of un-biased reviews for life insurance.

However, as certain areas, including customer service and affordability aren’t considered in their ratings, it’s worth looking at a wide range of reviews before choosing a life insurance product.

Trustpilot is a review platform that’s open to the public and has a wide array of reviews.

Reviews on Trustpilot detail all aspects of a company and product whilst providing a traditional 1 - 5 star review system (with 1 being bad and 5 being excellent).

Trustpilot also includes automatic detection software for fake reviews and has over 111 million reviews in their 10 years of experience.

Another well renowned review platform is Google. Google reviews offer a massive userbase who review products.

However, as reviews can be anonymous, the percentage of fake reviews is higher than Defaqto or Trustpilot.

Reassured are proud to be rated as ‘Excellent’ on Trustpilot.

Compare life insurance quotes

The easiest way to find and compare life insurance quotes is to talk to a life insurance broker.

At Reassured, we can save you time and money by helping you compare multiple life insurance providers and presenting you with our best quotes.

We have a 4.8 out of 5 star rating on Trustpilot with over 80,000 reviews. We also have a 4.8 and over score (out of 5) for all our offices on Google.

Quotes are fee-free, no-obligation and best of all, start from as little as 20p-a-day.

So, get in touch to secure your family’s financial future today.

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Sources:

[1] https://www.sunlife.co.uk/funeral-costs/

Information in this article is taken directly from the Defaqto website and is correct as of 02/01/25. These are subject to change by Defaqto at any time