Our Income Protection plan has received a 5 Star Rating from Defaqto

Everyone here at Shepherds Friendly are delighted to announce that our newly updated Income Protection plan has been awarded a coveted 5 Star Rating by Defaqto, the leading experts in ratings for financial products. Based on facts not opinions, Defaqto Star Ratings provide consumers with an accurate bench mark so that they can see at a glance how products compare.

This gives our Income Protection an expert seal of approval.

Our Income Protection plan is one of our most popular products and, we think, one of our most important.

No matter what line of work you’re in, employed or self-employed, it’s important to consider how you and your family would cope if an absence from work through illness or injury meant your regular wage was lost.  Shepherds Friendly Income Protection plan provides straightforward and flexible cover to ensure you’ll continue to receive a regular tax-free monthly income when you need it most.*

We have been asking you, our members, what you wanted from an Income Protection plan and we have added some exciting new benefits to make the plan even more flexible to fit the modern person’s ever changing lifestyle.

We’ve made it even more flexible:

  • There’s a two-year short-term benefit option
  • You can choose to be covered from day one
  • Cover can now be enjoyed up to age 70 (previously 68)
  • In some cases premiums start at just £5 a month**
  • Guaranteed insurability- Allows you to increase your benefit amount should certain ‘life events’ such as a marriage, birth of a child or divorce take place

We’ve made it even more adaptable to changes in your circumstances:

  • Career Break Benefit allows you to ‘pause’ your plan for up to 24 months- This is great for anyone wanting to go travelling or if you are between jobs
  • House Persons Benefit provides up to 50% of your chosen benefit level if you are incapacitated while out of work
  • You now have the option to index-link benefits in line with the Retail Price Index

Like all Shepherds Friendly products, our Income Protection plan is designed around you. Your plan can be updated at any time.***

If we think we can support you with your recovery by helping to pay for additional services or advice, such as physiotherapy or counselling, we will fund a referral to one of our chosen rehabilitation providers.

Our CEO, Ann-Marie O’Dea, has said, “The coveted 5 Star Rating is a well-deserved achievement for Shepherds Friendly. It recognises the high quality of the features provided by our Income Protection plan, and we are confident that these latest additions will only further increase its popularity amongst members and advisers alike.”

Who is Defaqto and what is a Star Rating?

Defaqto is a financial information business, helping financial institutions and consumers make better informed decisions. Their experts research, collect and continuously assess over 41,000 financial products, including income protection, and rate them on a scale of 1 to 5 based on feature and benefits that are relevant to consumers. These ratings are known as Star Ratings. They provide consumers with an unbiased and transparent assessment of the products and policies in the market from the Defaqto experts.

*All references to taxation are to UK taxation and are based on Shepherds Friendly Society’s understanding of current legislation and H M Revenue and Customs practice which may change in the future.

**18-year-old with a waiting period of one day, £376 of cover

*** All requests are subject to our agreement and may be subject to additional underwriting. If you wish to request a change, you must apply to us in writing. We will assess all applications based on your circumstances at the time.