Barclays Life Insurance

Barclays Life Insurance. Fact! If you don't compare them against the market now it could cost you £1000's. Compare the whole life insurance market.

Barclays Life Insurance

The famous high street bank offer a wide range of protection insurance such as life insurance. When buying life insurance the most important thing to remember is "will the insurer be around to pay out in the future?", which is why Aviva underwrite the policy. Aviva is one of the most respected life assurance providers, so you know that you're in good hands.

This partnership also means the range of life insurance options is huge, and the plans are flexible enough for you to tailor them to your particular requirements.

You can choose the amount of cover you want and pick the length of the policy, if you want to amend this half way through the plan this can be done too.

Respected Bank

Barclays is a British company dealing with various types and varieties of financial services. It is considered to be the 21st largest company all over the world globally and is considered to be the 2nd largest financial firm in the whole of United Kingdom. The company holds the record of being listed on Tokyo, London, New York stock exchanges. The headquarters of the company are currently located in the London Docklands region. Other than various insurance policies the company majorly also deals in various forms of banking such as- retail, investment, commercial and in investment management. The company also deals in Private equity. The company had been greatly affected during the recession period, which resulted in its share prices falling down to 90%, which has now been recovered. There are more than 1, 44,000 people working under Barclays. The President of this company is Richard Diamond.

History

The company was started in the year 1690 as a goldsmith bank in the local market of London by John Freame and Thomas Gould. They began the bank in the local market of London back then in the Lombard Street. After that, the bank was passed under a lot of people down the family line. Ever since, there have been people joining and leaving the company and finally after undergoing many alterations the company was finally named Barclays and initially established at the Lombard Street in London and then was shifted to the London Docklands. The whole company has a work force of 1, 44,000 people all over the globe approximately and they are spread in a lot of countries. To sum up one can say on an average they are spread globally in around 80-90 countries. The Barclays bank has over 4759 branches all over the globe in more than 70 countries.

Types of Life Cover

Barclays life insurance, unlike Life insurance from Aviva is available only for UK residents who are 18-66 years old and they have 2 types of life cover, level term cover and decreasing term cover.

Level term life insurance

This cover provides your family a lump sum of money on terminal illness (in terminal illness it is expected that you will die within 12 months) or death. The cover level as well as premium remains constant till the policy ends. It is also available on joint life basis. In level term cover the company pays if the client dies during the policy term or if the client has terminal illness 18 months before the term ends.

Decreasing term life insurance

This cover also provides lump sum money on death or terminal illness. This plan is used for mortgages and other loans cover as in this type of loans the owed amount decreases year by year. If the client dies within the policy term, the company will clear the client’s outstanding loan.

Review

Visit this link to see the reviews of Barclays life insurance. There you will find that some people liked this company while others had a pathetic experience. The reviews clearly reveal that the company hasn’t got nice reputation and most of them are saying that the company couldn’t stand up to their expectations. The overall rating for Aviva Life insurance is 2.2 on a 5 scale.