claims rate 2018

We are proud to announce that we paid 95.8% of Income Protection claims in 2018.

The majority of claims in 2018 were made for musculoskeletal pain (non-spinal), which accounted for 27.15% of the claims received, followed by spinal issues (14.5%), mental health related problems (11.97%), viral infections and flus (9.61%) and fractures (6.91%).

Of the declined claims, the most common reasons were non-disclosure of details at the time of the application, not meeting the terms and conditions of the plan and non-payment of premiums.

Daniel Palk, head of claims and underwriting at Shepherds Friendly, said:

“2018 has been a very busy and successful year for the Society in which the claims team have strived to ensure that we continue to meet the needs of our members. A common misconception amongst individuals is that insurance companies don’t always pay claims. However, with us having paid 95.8% of claims in 2018 it goes to prove that this is not the case.

“We pride ourselves on ensuring that from start to finish we are able to support our members in their time of need. Our trained specialists are there every step of the way to explain, guide and keep our members up to date with the progress of their claim and to assist them in their return to work.”

A forward-thinking mutual approach

As a mutual our aim is to ensure we put our members’ interests at the heart of everything we do and in 2018, we have continued with our claims promise to our members, which focuses on delivering the best claims process possible.

The claims promise is based on the Society’s mission to ask, listen and respond in order to help us provide an individual experience for every member, applying equally to any occasion where we need to be contacted with a claim.

After feedback from our members, we also launched our online notification feature in 2018, whereby members are given the option to notify us online through our website about an Income Protection claim they would like to make, to make the process of claiming easier.

We have also continued to use rehabilitation providers to help facilitate the transition back to work for our members who make a claim.

Ann-Marie O’Dea, chief executive at Shepherds Friendly Society was pleased to report such a positive claim statistic, a great rate when compared to the industry average.

Protecting your income

Our Income Protection plan is designed to ensure that you’ll continue to receive a regular tax-free monthly income while you’re unable to work because of illness or injury. It also offers you access to a valuable network of support services when you are off work.

You find out more about some of the benefits our Income Protection plan has to offer, here. Alternatively, you can give our Member Service Team a call on 0161 428 1212 if you are interested in finding out more.