Compare Barclays Life Insurance Quotes Against The Market

Founded in 1690, Barclays is one of the "Big Four" UK banks. While Barclays provides the platform and customer service, their life insurance products are currently provided and underwritten by Legal & General, one of the UK’s largest and most reputable insurers.

Today, Barclays remains a popular choice for customers who value simplicity and speed, offering a streamlined application process that can often be completed in as little as 20 minutes.

Wondering whether Barclays are the right life insurance provider for you? Get in touch below and one of our protection insurance advisers will compare their latest deals against the rest of the market to help you find the right cover.

At a Glance: Barclays Life Insurance

• Underwriter: Provided by Legal & General (historically used Aviva).

• Monthly Premium: Starts from £6 per month.

• Product Range: Simple Life Insurance and Mortgage Protection.

• Unique Selling Point: Highly simplified "Simple Life Insurance" for those who want a quick, easy policy for one person.

• Best For: Existing Barclays customers seeking a fast, digital-first application through the mobile app.

Types of Life Insurance Offered

Barclays has split its life insurance offering into two distinct products to meet different customer needs.

1. Barclays Simple Life Insurance

Designed for individuals who want a basic, straightforward policy without the complexity of traditional insurance.

• Level Term Only: Your cover amount and monthly cost stay the same throughout the policy.

• Single Policy: This product is only available for one person; joint cover is not an option.

• Simplified Benefits: To maintain simplicity, this plan does not include optional add-ons like Critical Illness Cover.

2. Life Insurance for Mortgage Protection

Specifically aimed at homeowners looking to cover their mortgage debt.

• Level or Decreasing Term: You can choose fixed cover or cover that reduces in line with your repayment mortgage balance.

• Single or Joint Policy: Unlike the simple plan, this can cover two lives, potentially saving an average of 25% compared to two single policies.

• Optional Critical Illness Cover: Available for an extra cost, providing a payout if you are diagnosed with a specified serious illness.

Pros and Cons

The Pros

• Trusted Underwriter: Backed by Legal & General, who hold a 5-star Defaqto rating and have over 10 million customers worldwide.

• Speed of Acceptance: Approximately 80% of customers receive an instant underwriting decision.

• Incentives: New customers often receive gift vouchers (e.g., £75 to £125 for Amazon or Argos) for taking out a policy during offer periods.

• Integration: Easy management for existing customers via the Barclays mobile app.

The Cons

• No Over 50s Plan: Barclays no longer offers dedicated over-50s plans with guaranteed acceptance.

• Simplified Standard: Their "Simple Life" plan has been criticized for being too basic, as it lacks terminal illness and waiver of premium benefits found in more comprehensive plans.

• Maximum Age Limits: Cover must typically end before you turn 70 for the simple plan, or 90 for mortgage protection.

Customer Consensus

Today, Barclays holds a high volume of reviews on Trustpilot (over 18,000), with sentiment regarding their insurance services often appearing mixed.

• The Positives: Many reviewers report positive experiences with staff, describing them as helpful, professional, and patient. Customers also appreciate the competitive rates and the efficiency of the remortgaging and insurance application processes.

• The Negatives: Recent reviews highlight frustrations with the closing of local branches and "faceless" customer service in certain departments. Some users have experienced difficulty reaching human advisers for complex banking and insurance queries.

How Their Products Compare to the Rest of the Market

Barclays’ products range from highly-rated specialist plans to more standard offerings.

• Rates: Starting at £6 per month, their premiums are aligned with market leaders like Aviva and Legal & General, who also offer entry-level prices around £5–£6.

• Product Range: While their mortgage protection is comprehensive, their "Simple Life" plan is intentionally narrower than the market average, excluding benefits like terminal illness cover that competitors like LV= or Scottish Widows include as standard.

• Defaqto Ratings: Barclays holds a strong 5-star rating for its direct life insurance and critical illness policies, but only 3 stars for its standard decreasing and level term mortgage protection plans.

How Our Life Insurance Advisers Can Help

Barclays offers a convenient route to protection, but their partnership with a single underwriter (Legal & General) means you are not seeing the full breadth of the UK market. Our team of independent life insurance specialists can help you ensure you aren't paying a "convenience premium." We provide:

• Comprehensive Market Comparison: We compare Barclays’ quotes against the entire UK market, including specialists like Royal London, Zurich, and Guardian.

• Underwriting Expertise: If you have health conditions or are over 55, we can identify providers more likely to offer standard terms rather than the simplified criteria used by "instant decision" banks.

• Tax and Trust Guidance: We can refer you to experts who can help you place your policy in a Trust, ensuring your loved ones receive a faster payout that avoids Inheritance Tax.

Wondering whether Barclays are the right life insurance provider for you? Get in touch and one of our protection insurance advisers will compare their latest deals against the rest of the market to help you find the right cover.