Protection Guru has announced its 2022 Protection Product provider Ratings, designed to give clarity on the propositions of UK protection providers, helping advisers identify the strengths of each providers’ protection products.
16 protection providers took part in the ratings, with each of their products independently benchmarked across 11 different protection product categories. Each participating provider and product received a gold, silver, or bronze rating for their overall proposition, as well as for each underlying feature, in recognition of individual areas of excellence.
LV= was awarded 11 gold award medals across its Life Insurance, Critical Illness, Income Protection and Business Protection Insurance propositions.
Guardian was next best, receiving seven gold medals across its Life Insurance, Critical Illness propositions including Family Income Benefit.
Adam Higgs, head of Research at Protection Guru, commented: “With so many different products and variations of products available on the market, it can be difficult to differentiate. These ratings are designed to help advisers quickly explain the difference between products in terms of the features offered and breadth of cover provided. It is great to see product providers such as LV= and Guardian performing exceptionally well across their business lines.
“This year we expanded our list of protection product categories, adding income protection for those with variable earnings. This new category recognises those products that have features designed to support clients whose income may go up and down during the term of the plan.
“It’s an exciting time for the protection industry. There is an overwhelming choice on the market, and we have been overwhelmed by the high standard of protection products available. Our independent analysis gives advisers confidence that they are choosing the right product for their clients’ needs, and Protection Guru remains committed to helping advisers and, ultimately, improving customer outcomes.”
ProtectionGuru.co.uk, part of FTRC (Financial Technology Research Consultancy), is a technical resource for advisers and providers in the protection and life insurance market. The site provides a benchmarking comparison tool and in-depth analysis on the full range of protection contracts, compared on quality not just price.
LV= and Guardian ratings
Protection Guru’s 2022 Protection Product Provider Ratings
