Defaqto, the independent researcher of financial products, has launched new Life Assurance Star Ratings for whole of life policies to help advisers and consumers identify where products sit in the market in terms of the overall quality they offer.

This further improves Defaqto’s ratings in the life assurance space, adding to the Star Ratings for Direct Life Assurance and Over 50s Plans it launched earlier this month.

Ben Heffer, Defaqto’s insight analyst for life and protection, said: “While unit linked (or flexible) whole of life was the most popular form of whole of life assurance for a number of years, the focus has shifted away from investment linked plans towards non-profit whole of life with a number of providers reinventing their whole of life plans as protection-only products.

“For financial advisers, this presents new opportunities to grow their protection book and add value to their businesses. From a consumer perspective, these products add further to the range of options they have when it comes to life assurance – giving them greater choice, but at the same making the decision-making process more complex.

“Our Star Ratings independently rate all of the whole of life products available, giving each a 1 to 5 rating based on the overall quality they offer. Star Ratings help people understand where a product sits in the market, at a glance, and help them base their decisions on more than just price.”