Defaqto has launched its Star Ratings for 2013 for consumers to compare financial products, including life insurance and protection.
The aim is to help people understand where a product sits in the market based on quality and comprehensiveness of the features and benefits and consequential one to five star rating.
Defaqto said the system was only an "at a glance" view of products to support overall process when making financial decisions.
Brian Brown, head of consulting at Defaqto, said: "Whether you are insuring home or car, or buying a protection product, it is essential people match the features and benefits required with those provided by the chosen product.
"If consumers focus on price alone they can run the risk of buying an inappropriate product that doesn't meet their needs - and they are only likely to discover this when it's too late."
The Star Ratings will provide an independent assessment for 50 different product types across product areas; life insurance and protection, pensions and investments, current accounts, general insurance and credit cards.
