Who has the best income protection insurance to meet your…
British Friendly (also known as British Friendly Society) are income protection specialists, offering a range of policies to cater to a range of needs.
In this review of British Friendly income protection, we’ll be looking at their policies to help you establish if they are the right provider for you.
Reassured Advice can also help you compare income protection quotes from British Friendly (as well as all other UK providers) to help you find the best available deal.
The service offered by Reassured Advice is FCA-regulated and quotes are provided free of charge.
So, why not get in touch for your personalised and no-obligation quotes?
Keep reading as we cover:
British Friendly Society were founded in 1902 and started life providing sickness benefits to commercial travellers.
Since then, they’ve developed into income protection insurance specialists, with over a century of experience.
It’s important to note that British Friendly are not regulated to provide financial advice - meaning you’re unable to buy their products directly from them.
Instead, you’ll need to secure cover through a financial advisor or broker service (such as Reassured Advice).
Simply get in touch today to compare British Friendly income protection.
The terms and conditions offered by British Friendly can vary depending on which of their policies you take out.
British Friendly offer two income protection policies:
Below you’ll find a breakdown of each policy’s terms and conditions:
To find the policy with the best terms and conditions to meet your needs, it’s essential to compare quotes.
Not only can Reassured Advice help you compare quotes from British Friendly, but they can provide you with quotes from other leading providers.
This allows you to find the best available price on a policy that ticks all your boxes. Simply get in touch.
The products offered by British Friendly Society are rated ‘Excellent’ on Trustpilot, with 4.4 stars out of 5, (as of 16/05/23).
Furthermore, both their Protect and Breathing Space policies are rated 5 stars on Defaqto.
This shows that the products offered by British Friendly are rated highly by both their customers and independent bodies.
The payments received from a British Friendly income protection policy can help you to keep up with your current living costs.
You can use your monthly (or weekly) payments to cover whatever you would typically use your pay cheque for.
From essentials like keeping a roof over your head, to allowing you to maintain your favourite hobbies - you can use the payments however you wish.
Commonly income protection is used to help cover:
If you need your income protection payments to help cover your mortgage repayments, British Friendly offer the ‘mortgage payment option’.
With this option you can have your payments made directly to your mortgage lender when you claim.
Reassured Advice can discuss your needs to help you find the most suitable income protection policy. Simply get in touch for your free quotes.
Why not put your monthly financial commitments into our handy income protection calculator below?
Mutual Benefits is a discretionary programme available to both new and existing members.
To be eligible for these benefits, your premiums must be up to date.
If you don’t want to have access to these benefits, you can opt out at any time.
As they are discretionary, British Friendly have the right to withdraw these benefits at any time.
The price you pay for British Friendly income protection will depend on your personal circumstances and the policy type you choose.
With a Protect policy, your premiums will be calculated using the following information:
With a Breathing Space policy, your premiums will be calculated using the following information:
(You only have the option of age-costed premiums with this policy type).
The table below shows the price of British Friendly income protection through Reassured Advice.
Quotes are based on a non-smoker, in good health, with an annual income of £30,000. The policy term is until age 65 with a 13 week deferred period:
|Age||British Friendly Protect price per month (1 year payment period with level guaranteed premiums)||British Friendly Protect price per month (full payment period with level guaranteed premiums)||British Friendly Breathing Space price per month (1 year payment period with age-costed premiums)|
The price that you pay for British Friendly income protection could be more or less than the prices shown depending on the factors mentioned above.
It’s also important to note that the underwriting processes used by each provider can vary. For this reason, it’s essential to compare quotes to find the best deal.
A friendly member of the Reassured Advice team can help you compare income protection quotes from the whole of the market.
This includes other leading providers, some who offer cover from just 20p-a-day.
To claim with British Friendly, you can fill out an online form.
British Friendly ask that you provide the following details when filling out this form:
You’ll also need to provide contact details such as your first and last name, email address and phone number.
Alternatively, you can email email@example.com to make a claim. Your email must include the details mentioned above.
In 2022, British Friendly paid out 90% of all new income protection claims. Their top claim reasons were:
Over the last 16 years, British friendly have paid out an average of 95% of all their income protection claims.
You’ll also have access to BF Care, a discretionary benefit which gives you access to additional financial support if you experience a life changing event. These include:
Hopefully this review has helped to outline the key features of British Friendly income protection.
Ultimately, whether they are the right option for you will depend on whether they offer the tight terms and conditions to meet your needs.
When making your decision it can help to weigh up the pros and cons:
|Own occupation definition of incapacity (so you can claim if you can’t do your own job, some other definitions may require you to work in another role if you’re unable to do your own)||Relatively low maximum benefit amount in comparison to some other providers (a maximum of £4,750 per month or £57,000 per year with the Protect policy or £541 - £1,250 per month or £6,500 - £15,000 per year with the Breathing Space policy)|
|Protect policy offers both short-term and long-term payment periods||Cover can’t be bought directly through British Friendly, you need to buy a policy through a financial advisor or broker service|
|Breathing Space policy doesn’t require financial underwriting, which is ideal for those with an irregular income or who have recently become self-employed||If you’re on a tight budget, there are cheaper income protection options available|
|Age costed premiums could help those with ‘risker’ occupations secure cover as occupation won’t be taken into consideration when calculating premiums|
|Good range of additional policy benefits|
|A 95% pay out rate over the last 16 years (on average)|
Alternatively, why not contact Reassured Advice? an expert member of the team can take your personal circumstances into consideration and provide you with the most suitable options to meet your needs.
British Friendly income protection can’t be bought directly through them, so you’ll need to use the services of a financial advisor or a broker - like Reassured Advice.
By using the broker service offered by Reassured Advice you can compare quotes from British Friendly, as well as all other UK providers.
Comparing quotes is the best way to secure the right policy to meet your needs, at the best available price.
All quotes provided by Reassured Advice are personalised, no-obligation and completely fee-free.
You’ll also have access to a dedicated member of team to answer any questions you might have along the way.
Simply get in touch today.
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Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry