F&TRC announces 2016 protection ratings

Each provider has been awarded either a Gold, Silver or Bronze medal for both their overall proposition as well as in several underlying categories.

The awards ratings for Income Protection are:

Gold Medals - Aviva, The Exeter (Income One Plus), Legal & General, LV=, LV= (Personal Sick Pay), VitalityLife (Comprehensive)
Silver Medals - The Exeter (Pure Protect), Royal London, Vitality Life (Primary)
Bronze Medals - AEGON, AIG, Zurich

Product features considered as part of the overall rating include: incapacity definitions, claims statistics, claims processes, rate availability, sum assured limits, added value benefits, deferred periods, linked claims, return to work benefits, indexation and age limits.

Relevant Life awards ratings are:

Gold Medals - AIG, Legal & General, Royal London, VitalityLife and Zurich
Silver Medals - Aviva & LV=
Bronze Medals - AEGON

Product features considered as part of the overall relevant life rating are: business protection support, financial evidence, trusts, added value benefits, sum assured limits, continuation options, exclusions, guaranteed insurability options and application process.
          
Adam Higgs, Adviser Services Head of Research at F&TRC, said: “Income Protection, Business Protection and Relevant Life products are hugely important products, however for many reasons less of these policies are put in force than life and critical illness. The ratings and fact sheets look to help advisers better understand some of the more important features of such policies and the differences between provider offerings.”