
1826
Friendly Society
Starting life as a sickness and benefits society, the Friendly Society has grown from a traditional insurance provider to a modern, broadly based financial organisation with an expanding members base of nearly 85,000 members throughout the UK.
Shepherds Friendly is one of the oldest mutual insurers in the world having been founded on Christmas day in 1826, almost 200 years ago.
Over the years they have expanded and now offer a much wider variety of products, including a range of savings products and protection plans for children, adults, and seniors.
Shepherds Friendly are on of the oldest mutual societies around today. Its Income Protection policies are designed to be accessible, flexible, and affordable.
Overview of Key Policy Details
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Policy Type |
Income Protection |
Premium Type |
Age Banded |
Maximum Claim Duration |
Unlimited (to the policy’s cease age or the policy holder’s death) |
Incapacity Definition |
Only own occupation cover |
Deferred Period |
Day 1 / 1 week/ 4 weeks / 8 weeks / 13 weeks / 26 weeks / 52 weeks |
Indexation |
Optional |
Waiver of Premium |
Included |
Maximum Cover |
70% of your annual pre-incapacity income |
Maximum Cover |
£49,000 |
Max. Policy Cease Age |
70 years old |
Minimum Policy Term |
5 years |
Maximum Policy Term |
54 years (until your 70th birthday) |
Min. Entry Age |
16 years old |
Max. Entry Age |
60 years old |
Guaranteed Insurability |
Yes |
Overseas Travel |
Short term overseas cover under certain conditions |
Policy Exclusions |
Incapacity as a result of war, invasion, hostilities, cosmetic surgery for non-medical reasons, or taking part in dangerous activities and failing to undertake appropriate training or use the correct equipment. |
We have taken care to ensure that the information on this Drewberry owned website is accurate. However we can give no guarantee as to the accuracy of the content of the site. We accept no liability for any losses whether direct or indirect arising from errors on our part.
Shepherds Friendly’s Income Protection policy offers great flexibility and affordability for professionals in hazardous or lower earning occupations.
Shepherds Friendly are an amalgamation of several fraternal groups, including the Ancient Order of Shepherds and the Royal Shepherds Sanctuary Benefits Society. Over the years they have expanded and adapted to ensure that they can maintain their typically high standard of service.
Today they offer investment opportunities as well as protection products to people from all walks of life.
We aim to know the policies we advise on inside out and back to front. Below are a couple of commonly asked questions about the policy coverage of the Shepherd Friendly’s Income Protection Insurance offering.
A. Shepherds Friendly are usually quite lenient when it comes to making changes in your policy. if your circumstances have changed or if you would simply like to adjust your policy’s cover, you will be allowed to do so providing you are not in the process of claiming benefits.
You may also be required to provide evidence of your income to ensure that any changes in your salary do not change your cover to exceed the maximum benefit level of £49,000 per year.
A. This is a concern that we come across quite frequently. Shepherds Friendly’s maximum Income Protection benefit is at the lower end of the scale across Income Protection providers.
This is because Shepherds Friendly policies are aimed at self-employed individuals and lower earners in riskier occupations, such as manual labourers.
However, to compensate, unlike many other Income Protection providers Shepherds Friendly does not base premiums on the risk level of your occupation.
To balance the added risk of insuring individuals with dangerous occupations, they have put a cap on the maximum that people can claim in benefits.
As you can see, there are a lot of points to consider when comparing insurers. With so many factors in play, it can be time-consuming to pull up key information across every single insurer in the market, so why not ask an adviser for help?
We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to talk to us.
If it is all getting a little confusing and you want to talk you through your options to make sure you find the most suitable cover please don’t hesitate to get in touch.
Pop us a call on 02084327333 or email help@drewberry.co.uk.
Tom Conner
Director
I’ve held a policy with Drewberry for several years now. They are always friendly, insightful and offer great service.
Or call us on 0208 432 7333
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