Moneyfacts Annual Star Ratings – Critical Illness Cover announced

Anyone who is looking for the best provider of critical illness cover will be delighted to learn that the Moneyfacts Annual Star Ratings for these have just been announced.

These latest 2020 Five- and Four-Star ratings for critical illness cover serve to highlight the very best products from across the whole UK marketplace.

Hundreds of products are assessed by Moneyfacts on an annual basis, across 17 categories, from business and personal finance products to investments and insurance policies. The extensive analysis of more than 2,000 data fields enables Moneyfacts to award its Star Ratings every single year, helping to support consumers with their decision-making process.

A Moneyfacts Survey in July 2019 illustrated that over three-quarters (77%) of consumers agreed that independent Star Ratings played an important part in choosing a new financial product. In addition, 91% of consumers confirmed that a Star Rating from an independent and impartial company could influence their decision in which financial products to purchase.

The latest Moneyfacts Annual Star Ratings derive from the analysis of over 40 fields of information per individual product.

Numerous features are considered when assessing critical illness cover, and some of this information includes:

• Range and number of illnesses covered
• Age of entry
• Minimum and maximum terms
• Ceasing ages
• Policy terms
• Minimum and maximum ages
• Rate types
• Total and permanent disability
• (TPD) options
• Conditions including:
  • Cancer
  • Heart attacks
  • Kidney failure
  • Major organ transplant
  • Terminal illness

Richard Eagling, Editor of Investment, Life and Pensions at Moneyfacts, commented: “Even though critical illness cover offers valuable protection and providers frequently enhance and improve their products, it continues to be overlooked by many consumers. The Moneyfacts Critical Illness Star Ratings can help consumers choose, with confidence, a plan with flexible terms that covers a wide range of illnesses to the highest standard, offering vital protection in the unfortunate event that they need it.”

To see the full list of awarded products, please click here. There are many more 2020 Moneyfacts Annual Star Ratings to come.