Barclays plc is a British multinational investment bank and financial services company, headquartered in London. Apart from investment banking, Barclays is organised into four core businesses: personal banking, corporate banking, wealth management, and investment management.
Topics
Life Insurance
Barclays Simple Life Insurance starts from just £6 per month. The policy is level-term, which means your cover stays the same throughout the life of your policy. You choose how long you want to be covered, between 5 and 50 years (but it must finish before your 90th birthday). A one-time lump sum will then be paid to your loved ones upon your death.
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Over 50s Life Insurance
Barclays do not offer over 50s life insurance.
Mortgage Life Insurance
For first-time buyers or those who have a few years left on your mortgage, Barclays Life Insurance for Mortgage Holders promise a one-time lump sum to pay your outstanding mortgage if a successful claim is made. Cover starts from £6 a month.
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Critical Illness Insurance
If you’re diagnosed with a terminal illness and you’re expected to die within 12 months, Barclay’s Life Insurance policy will pay out the full amount at no extra cost. Verification will be needed from your hospital and their own medical team.
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Whole Life Insurance
Barclays do not offer whole of life insurance.
Income Protection Insurance
Barclays do not offer income protection insurance.
Other Services
Barclays has a large range of Banking, Borrowing, ISA and Investment Services, Mortgage Policies and Home and Travel Services.
Barclays Reviews and Ratings
Online reviews for Barclays are bad with users complaining about shocking customer experiences, poor responsiveness and limited online help. Many customers have been left on hold, waiting to talk to an adviser, for up to 6 hours. Negative reviews have even come from customers who have been loyal to the bank for many years.
Trust Pilot – 1.5/5 (based on 2262 reviews)
Reviews.co.uk – 1.4/5 (based on 273 reviews)
Pros
- One of the largest, most reputable banks in the UK
- Simple Life Insurance starts from just £6 per month
- Flexible payment terms offered
- 20 minute promise from getting a quote to getting your policy
- Useful online resources available such as the cover calculator tool
- Handy online jargon buster guide
- Apply online or in branch
Cons
- Very poor online reviews from unhappy customers
- Slow customer service often reported
- Reports that existing customers are also not treated well
- Income protection insurance, whole of life insurance and over 50s life insurance products not offered
- Lifestyle and health conditions are factored into policy decisions
Website: Barclays