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 60,000 customers, so why not get in touch?

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, AIG, 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 to help you find the best option.

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:

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

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

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

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

Defaqto 5 stars
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 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 - Allow loved ones to pay off any debts in your name or provide funds to help a significant other cover joint debt.

Funeral costs - 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 £4,056[1]).

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

Provide 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:

Defaqto can help you choose level term 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.

Defaqto can help you choose decreasing term life insurance

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.

Defaqto can help you choose whole of life insurance

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 from 27p-a-day ±

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

Defaqto can help you choose over 50s life cover

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
  • Cover will last for life
  • Can be taken out through Reassured from £5 a month +

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:

Level term coverDecreasing term coverWhole of life coverOver 50s cover
Legal & General List icon List icon Cross Cross
LV= List icon List icon Cross Cross
Aviva List icon List icon Cross Cross
AIG List icon List icon List icon Cross
Zurich logo Cross Cross List icon Cross
The Exeter Insurer Logo List icon List icon Cross Cross
SunLife logo Cross Cross Cross List icon
OneFamily logo Cross Cross Cross List icon


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?

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:

AIG life insurance

Level term life insurance:

  • Instant life insurance Defaqto 3 stars
  • Life start term assurance Defaqto 3 stars

Decreasing term life insurance:

  • Yourlife plan term assurance Defaqto 4 stars
  • Instant life insurance Defaqto 3 stars

Whole of life insurance:

  • Whole of life insurance Defaqto 5 stars
  • Care cover with whole of life insurance Defaqto 5 stars

Aviva life insurance

Level term life insurance:

  • Life insurance+ Defaqto 5 stars
  • Life insurance+ upgraded Defaqto 5 stars
  • Life insurance plan Defaqto 3 stars
  • Simple life insurance Defaqto 2 stars

Decreasing term life insurance:

  • Aviva life insurance+ Defaqto 5 stars
  • Aviva life insurance+ upgraded Defaqto 5 stars
  • Decreasing cover Defaqto 3 stars
  • Simple life insurance Defaqto 3 stars

Legal & General life insurance

Level term life insurance:

  • Multi Protection Defaqto 5 stars
  • Multi Protection+ CI & Children’s Extra Defaqto 5 stars
  • Multi Protection +CI Extra Defaqto 5 stars
  • Multi Protection Children’s Extra Defaqto 5 stars
  • Level term assurance Defaqto 4 stars

Decreasing term life insurance:

  • Multi Protection Defaqto 5 stars
  • Multi Protection+ CI & Children’s Extra Defaqto 5 stars
  • Multi Protection +CI Extra Defaqto 5 stars
  • Multi Protection Children’s Extra Defaqto 5 stars
  • Decreasing term assurance Defaqto 4 stars

LV= life insurance

Level term life insurance:

  • Life and enhanced CI with enhanced children’s CI Defaqto 5 stars
  • Life and enhanced critical illness Defaqto 5 stars
  • Life and critical illness cover Defaqto 3 stars
  • Life protection Defaqto 3 stars

Decreasing term life insurance:

  • Life and enhanced CI with enhanced children’s CI Defaqto 5 stars
  • Life and enhanced critical illness Defaqto 5 stars
  • Life and critical illness cover Defaqto 3 stars

OneFamily over 50’s plans

Over 50’s life cover:

  • Over 50’s life cover+ Defaqto 5 stars

SunLife over 50’s plans

Over 50’s life cover:

  • Guaranteed over 50’s plan Defaqto 3 stars
  • Guaranteed over 50 plan (capped) Defaqto 3 stars

The Exeter life insurance

Level term life insurance:

  • Real Life Defaqto 3 stars

Decreasing term life insurance

  • Real Life Defaqto 3 stars

Zurich life insurance

Whole of life insurance:

  • Business whole of life Defaqto 5 stars
  • Whole of life Defaqto 4 stars

Why not compare quotes using our FCA-regulated broker service to find the best life insurance to meet your needs?

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 finding the best quotes that are compatible with your individual circumstances.

We have a 4.8 out of 5 star rating on Trustpilot with over 64,000 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.

Sources:

[1] https://www.sunlife.co.uk/siteassets/documents/cost-of-dying/cost-of-dying-report.pdf/

Information in this article is taken directly from the Defaqto website and is correct as of 23rd June 2022. These are subject to change by Defaqto at any time

*Based on total revenue in latest published accounts following competitor market analysis

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