The award has only been granted to four providers and Engage is the only one distributing through intermediaries.
The 5 Star Rating means that intermediaries can be confident that Engage Mutual’s product is one of the highest quality, most comprehensive and competitive offerings in the market, and that it is backed by a financially strong organisation which will be there when customers need them, said Defaqto.
The product offers payments that cease at age 90 and Engage’s Guaranteed 50 Plus Life Cover is the only plan of its kind to provide customers with the option to claim a cash lump sum on the diagnosis of a serious or terminal illness.
Plan holders can claim 20% of the sum assured on diagnosis of a serious illness, and 100% in the event of diagnosis of terminal illness, closing the plan.
Sales director Maria Harris said: “As a mutual we’re owned by our customers. So providing products and services that best meet our customers’ needs is the motivation behind delivering quality product design and ongoing improvements – we are always seeking to offer our customers more.”