Shepherds Friendly offers a range of investment and insurance products and in this article, we provide an independent review of Shepherds Friendly income protection, a comprehensive sick pay insurance policy. Shepherds Friendly income protection pays a replacement income if you are unable to work through illness or injury and we explain the key policy details below, including some unique features that make it stand out from the crowd.
We also explain how to buy income protection insurance; compare Shepherds Friendly with other providers to find the policy that best matches your needs and budget and you can get up to £100 cashback* when you do.
Who is Shepherds Friendly
Shepherds Friendly is based in Cheshire and is a trading name of The Shepherds Friendly Society Limited, a mutual society that is owned and run for the benefit of members with no shareholders. It began life on Christmas day in 1826 making it one of the oldest mutual insurers in the world.
Shepherds Friendly is authorised by the Prudential Regulation Authority and regulated by both the Prudential Regulation Authority and the Financial Conduct Authority.
Defaqto, an independent financial information company rated Shepherds Friendly's income protection insurance policy 5 stars, ensuring it falls in the 'high quality' product category. Shepherds Friendly won the Moneyfacts Best Claims Support 2023 award and its Income Protection Plan has 5-star Defaqto rating.
What is income protection insurance?
Income protection insurance covers your earnings in times when you're unable to work due to an illness or injury by replacing a percentage of your usual income for a limited time or until you are able to return to work. It is often referred to as sick pay insurance or permanent health insurance. Income protection insurance varies tremendously between different insurance companies' products and most insurance companies offer more than one type of income protection insurance to suit people with different occupations and budgets.
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Shepherds Friendly income protection insurance overview
- Offers full-term (up to retirement) and Short-term (1 or 2 years per claim) income protection insurance policies
- Shepherds Friendly paid 96.2% of income protection claims in 2022
- Nuffield Health and Wellbeing and Virtual GP services plus discounted gym membership
- Bereavement payment for the family if the policyholder dies whilst insured
- Child payment of £250 paid into a Junior ISA upon the birth or adoption of a child
Shepherds Friendly income protection insurance policy summary
Shepherds Friendly offers a range of flexible and affordable income protection insurance policies to suit the needs and budgets of its customers. Below you will find a policy summary of Shepherds Friendly income protection insurance including the key benefits, features and exclusions.
| Policy features | Shepherds Friendly income protection policy details |
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| Qualifying rules |
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| Age restrictions |
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| Amount of cover |
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| Policy price |
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| Increasing cover |
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| Term of cover |
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| Deferred period / Waiting time |
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| House person's benefit |
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| Waiver of premium |
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| Excluded | Injury or illness caused by:
Any claim in respect of any physical or mental illness, symptoms, disease, disorder, incapacity, injury, disability, consequential organ or other health impairment, consequential operation or other treatment, period of isolation or medically required quarantine, arising (whether directly or indirectly) by reason of COVID-19, SARS-CoV-2, SARS, SARS-CoV, or any subsequent mutation of a Coronavirus to include all consequent new disease and disease classifications arising from such mutations. |
Shepherds Friendly income protection insurance additional benefits
Shepherds Friendly offers income protection insurance policyholders extra benefits which they can use without the need to claim for incapacity. These include:
- Nuffield Health virtual GP access provides policyholders 20-minute phone or video calls with a GP, 24 hours a day, 7 days a week without any limit to the number of consultations allowed
- 20% Nuffield Health Gym membership discount
- Nuffield Health Emotional Wellbeing services provide policyholders with a platform that supports emotional wellbeing and is accredited by the National Institute for Health and Care Excellence (NICE)
- £6,000 Bereavement Payment to the family if you die whilst insured
- £250 lump sum cash paid into a Shepherds Friendly Junior ISA on the birth or adoption of a child
- Specialist claims handlers will support the policyholder through a claim
How to apply for Shepherds Friendly income protection insurance
An online application for Shepherds Friendly income protection insurance will ask you about your:
- Smoking habits
- Health
- Lifestyle
- Occupation
Unlike most other insurers, Shepherds Friendly income protection does not increase in price for moderate smokers and whilst any health conditions that you disclose may be excluded from future claims, they too won't result in any increase to the price for the insurance.
Once you complete your Shepherds Friendly application an underwriter will assess your personal information and decide whether to offer the income protection insurance fully or with limitations or exclusions based on the nature of your answers. Shepherds Friendly does not increase your monthly premiums based on your health and lifestyle.
Will Shepherds Friendly remove a medical exclusion from my insurance if I recover?
Yes, Shepherds Friendly allows policyholders to apply for a review of any exclusion applied to income protection insurance if they have been symptom-free for at least 12 months. In instances where the review is successful, Shepherds Friendly would remove the exclusion on the policy.
How much does Shepherds Friendly income protection insurance cost?
Shepherds Friendly income protection insurance prices are calculated based on your:
- Age
- Amount of cover
- Deferred period
- Type of cover chosen - short or full term
Cost of £1,500 income protection insurance to age 65
| Age at application | Shepherds Friendly short-term income protection (Monthly cost) | Shepherds Friendly full-term income protection (Monthly cost) |
| 20 | £15.15 | £19.20 |
| 30 | £18.90 | £21.15 |
| 40 | £24.00 | £31.65 |
| 50 | £38.70 | £61.80 |
All prices assume a waiting period of 8 weeks of incapacity before a claim is paid and are based on a healthy applicant who does not smoke
Is Shepherds Friendly income protection insurance any good?
Shepherds Friendly offers cover for up to 70% of your gross earnings compared with 60-65% available through most other insurers.
That being said, Shepherds Friendly's income protection insurance premiums increase each year with your age and your cover may exclude certain health conditions that other insurers may cover you. Additionally, Shepherds Friendly has a standard exclusion for any claims arising from Covid-related incapacity.
For many customers, the question of whether something is good or not often comes down to cost and so we share details of how to compare income protection insurance policies later in this article.
Shepherds Friendly customer reviews
Reviews on independent customer review site Trustpilot rate Shepherds Friendly 4.3 out of 5.0 stars based on over 600 reviews. 68% of reviewers rate Shepherds Friendly as 'excellent', citing ease of online applications, good customer service and a positive claims experience. 15% of the reviews rate Shepherds Friendly as 'bad', describing issues with customer service and delays in processing statements and claims.
How to compare and buy Shepherds Friendly income protection insurance
When buying any kind of financial product, it is always wise to check the price and quality against other similar offerings in the market. Although, the name of the insurance may be the same, what's under the bonnet is often different and some insurance policies provide a better opportunity to claim as well as additional benefits that you can use without claiming.
The easiest and most thorough way to search for the best income protection insurance is by speaking with a specialist income protection insurance adviser. They will take all of your information and match you to the best and cheapest income protection insurance based on your health and occupation.
At Money to the Masses we have tried and tested the services of an income protection specialist* that will guide you to the best solution when it comes to protecting your earnings. You are not obliged to buy the policy that they recommend but if you do, you will receive up to £100 cashback for being a Money to the Masses reader.
If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses and do not wish to qualify for the cashback referred to in the article
