Ulster Life Insurance Review 2023

Ulster Bank is a financial entity established in Northern Ireland in 1836.

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Ulster Bank is a financial entity established in Northern Ireland in 1836. Today, the headquarters is stationed in the Republic of Ireland but continues to serve banking needs and financial products to customers across the United Kingdom, including life insurance.

This review will investigate the life insurance products on offer at Ulster Bank.

Types of Life Insurance

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Ulster does not deal directly with life insurance products. However, they serve as a medium for the primary provider AIG, tailoring their plans and adapting them to their local market and vital demographic needs.

Let’s look at the main plans Ulster provides below.

Life Insurance

Ulster offers term-based life insurance that stems into multiple plans according to your needs. The policy will pay a lump sum of money should you die or become terminally ill while you are under the terms of the contract.

The Life Insurance product is the most popular plan, available to UK residents aged 17-86.

Critical 3 with Life Insurance

The Critical 3 with Life Insurance is one of Ulster’s more comprehensive offerings. The plan will cover various debilitating scenarios outside of death, including critical illness, terminal conditions, and of course, should you pass away.

The beneficiary will receive a lump sum payment if you get specific forms of cancer, have a heart attack or stroke, or die. Critical 3 with Life Insurance is available to UK residents between the ages of 17-75.

Guaranteed Sixty-Plus Life Insurance

The Guaranteed Sixty-Plus Life Insurance plan is a policy with guaranteed acceptance for UK residents aged 60-80. It’s a straightforward, affordable plan for over 60s to secure a guaranteed lump sum cash payment to beneficiaries in the event of death.

It’s a policy designed to relieve the concerns of older people who seek financial protection for their loved ones without the lengthy application process. There’s no requirement for medical questions or examinations.

So let’s go over the core policy points of Ulster Life Insurance to understand more about how the provider works.

Overview of Ulster Life Insurance Key Policy Details

The most notable factors of Ulster’s life insurance policies are below.

Ulster will pay out on your policy if: The policyholder dies during the contracted term.
Options: Fixed Term Life Insurance/Terminal and Critical Illness Cover/Sixty Plus Cover
Policy Coverage: Single/Joint Coverage
Terminal Illness Cover: Yes
Critical Illness Cover: Yes
Minimum Entry Age: 17
Maximum Entry Age 86
Guaranteed Insurability: If the policyholder is over 60, there is guaranteed insurability.

It’s important to reiterate that once insurance products get purchased through Ulster, AIG manages them. Though that itself has its bens a leading insurance provider, offering digital methods to manage policies and perks for signing on to plans.

Let’s go into more detail about the standout points of Ulster’s life insurance product range.

Ulster Life Insurance

We compare plans from the leading life insurance providers

Ulster life insurance may not be directly responsible for forming and managing insurance plans. However, the policies they offer the market find themselves well-suited to a broad audience, handpicked to meet the concerns of their banking customers.

The standout features include:

  • Direct access to the AIG Life Limited Portal with a more intuitive policy management interface
  • Range of fixed-term life insurance products that cover general protection concerns
  • Guaranteed sixty-plus coverage

So what are customers saying about the products on offer at Ulster?

Key Points

There is an intriguing split of opinions between industry experts and verified customers of Ulster’s life insurance. Perhaps critique is formed around the AIG-managed product and direct interactions with Ulster customer service.

We’ll first outline what customers say about Ulster as an entity:

  • Customers frequently highlight the poor customer service
  • Personnel shake off any queries directed towards life insurance products as they don’t manage them
  • Complex sales for insurance products with no after-sales service

So let’s look at the ratings to see how these points reflect Ulster’s rating metrics.


We’ve broken down the ratings of Ulster’s life insurance products, researching two leading trust platforms, Defaqto and Trustpilot. See the review ratings below.


Ulster has performed poorly with customer opinion, achieving a 1.9 out of 5 rating on the Trustpilot platform. The review feedback gets highlighted in the table below.

Rating Percentage of Feedback
Excellent 9%
Great 9%
Average 0%
Poor 3%
Bad 79%

Most reviews on the platform elaborate on how they believe the service is incompetent and that products get mis-sold to them. It’s worth noting that customers do not have much negative to say about the insurance products themselves, only about the support and sales process.


Defaqto provides a different side of the coin, in their opinion, where the products get reviewed by a set of accredited industry experts. Ulster’s core life insurance products receive a 5 out of 5 stars, highlighting them as preferred options.

However, we must note that the products are part of AIG’s insurance range.

Is Ulster Life Insurance Right for You?

While customers tend not to be particularly happy with the service, the products offered through their medium tend to suit a general audience, offering affordable rates and assurance for those over 60. Speak to an expert broker if you find interest in Ulster life insurance.

Defaqto ratings

Type Plan name Rating
Critical illness (decreasing) AIG Critical 3 With Life Insurance 3
Critical illness (level term) AIG Critical 3 With Life Assurance 3
Critical illness (direct with life cover) AIG Critical 3 With Life Assurance 4
Life assurance (direct) AIG Critical 3 With Life Assurance 5
Life assurance (direct) AIG Life Insurance 5
Life assurance (decreasing) AIG Life Insurance 3
Life assurance (level term) AIG Life Insurance 3
Over 50s life assurance Guaranteed Sixty-Plus Life Insurance (Fixed) 4
Over 50s life assurance Guaranteed Sixty-Plus Life Insurance (Increasing) 4
Defaqto ratings were reviewed on 01/10/2023