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Income protection is a type of insurance policy that pays out a percentage of your income while you’re unable to work (until you return to work or retire), due to illness or an injury.
Many wouldn’t be able to live off SSP (statutory sick pay) or personal savings in the event of sickness. In fact, around 27 million Brits (51%) wouldn’t be able to live off their savings for more than one month.
Best known for being income protection professionals, Cirencester Friendly offer two income protection policies; ’My earnings protected’ and ‘Income assured enhanced’.
They’re also one of the more reliable Income Protection providers, paying out at least 94% of all income protection claims it has received since 2012.
But how good is their income protection and what is it like in comparison to others on the market?
Please note, you can’t secure a policy directly from Cirencester Friendly. Cover will need to be secured through a financial advisor or broker (like Reassured Advice).
Reassured Advice can compare quotes from Cirencester Friendly with the UK's top income protection providers.
With their whole of market comparison service, you can find a suitable policy that fits your needs, including providers who offer cover from just 20p-a-day ‡ .
Why not get in touch with Reassured Advice today?
Keep reading this quick and easy review about Cirencester Friendly’s income protection insurance to discover if they are the right provider for you…
The following topics are covered in this review:
Cirencester Friendly is a member owned (mutual) business, meaning they have no shareholders. This results in them being able to reinvest back into the business.
They were founded in 1890 when the society had only 6 members. Since then, Cirencester Friendly are now exceeding 37,000 members.
Every year, to keep members feeling included and updated, the society publishes detailed claim statistics.
Their income protection policies and services, have won many awards through the years. Most recently in 2023, being a winner for ‘Best Protection Service’ by the Moneyfacts Awards.
Cirencester Friendly don’t have many customer reviews online, however this doesn’t reflect badly on their services. Overall, they’re rated highly by customers and experts.
In fact, expert rating service Defaqto awards Cirencester Friendly 5 stars.
|Income Assured Enhanced|
|My Earnings Protected|
Cirencester Friendly sell income protection services only but they also offer many additional benefits and policy add-ons, listed below:
You can add an immediate death benefit on to your income protection policy for £5 per month if you have a policy with Cirencester Friendly.
Temporary financial support if you’re able to return to work but need to return part time or with a different position with reduced hours. This is available with a ‘My earnings protected’ policy.
Included in your 'Income assured enhanced' policy as standard. If you’re diagnosed with a terminal illness (less than 12 months to live), Cirencester Friendly will pay out a lump sum equal to 6 months of benefits.
You have the option for benefit payments to start at different times; day 1 and 1 week deferral period options. The other deferral periods options are 4, 8, 12, 26 and 52 weeks.
Link your benefit to inflation so that it can rise each year along with prices and inflation (a maximum increase of 10% each year). Cirencester Friendly measures inflation by the consumer prices index (CPI).
An option that allows you to increase your existing benefit without the need to answer medical questions on the basis a big life event takes place. For example marriage, birth of a child, increase in mortgage.
Protection against specific injuries from day one - providing a lump sum pay out if you suffer a serious injury. Available on ‘My earnings protected’ policies.
Cirencester Friendly offer two income protection policies, these include:
Cirencester Friendly don’t inflate premium prices for smoking status or high-risk hobbies/occupations (with the exception of motor sports).
Therefore, they will only factor in your policy details, age and health when calculating your premium.
Although many income protection providers will calculate prices factored on:
Quotes from Reassured Advice start from 20p-a-day so get in touch.
Cirencester Friendly is known to be affordable and flexible, however, how does it compare to other leading income protection providers?
Below is a comparison table of Cirencester Friendly vs other income protection providers:
|Insurer||Age (min and max)||Benefit amount||Policy term||Definition of incapacity||Defaqto rating||Deferred period|
|18 - 65||Up to 65%||Min term 5 years max term of age 70||Own occupation or suited tasks||5 stars||1, 4, 8, 13, 26 or 52 weeks|
|17 - 54||Up to 60%|
5 - 53 years or age 70
|Own occupation or suited tasks||5 stars||4, 8, 13, 26 or 52 weeks|
|18 - 54||Up to 65%|
Min term 5 years max term of age 70
|Own occupation||5 stars||4, 8, 13, 26, or 52 weeks|
|18 - 59||Up to 65%||Min term 5 years max term of age 70||Own occupation||5 stars||1, 4, 8, 13, 26 or 52 weeks|
Information and statistics have been taken from insurers websites and is correct as of 02/11/23
Please note, whilst some insurers offer cover to those aged 16/17, Reassured Advice only offer cover to those aged 18 and above.
Cirencester Friendly offers a slightly lower benefit amount that you can claim over a year than other insurers - at a maximum of £52,000. Therefore, if you did earn a higher amount of money and were looking for a larger claim, it may be worth exploring other options.
Why not get in contact with a friendly professional at Reassured Advice today and compare quotes from leading insurers.
When securing a policy with Cirencester Friendly you will have the ability to add on extra benefits for an additional cost. This is to enhance the cover provided.
Known as ‘My extra benefits’ you have a choice of cover, including: fracture & hospitalisation benefit and immediate death benefit. This can be selected individually or together.
These benefits are created to run alongside your Cirencester Friendly income protection policy, with a minimum term of 5 years and a maximum term of when you reach 70 years of age.
Key points for application:
|Benefit||What is it?||How much does it cost?|
|Fracture & Hospitalisation benefit||Fracture - Provides a lump sum payment of £1,500 in the event you suffer a fracture (listed bones on website)|
Hospitalisation - Provides a payment of £50 per night (following three consecutive nights) to stay in the hospital
|£6 per month|
|Immediate death benefit||A lump sum of £7,500 can be paid upon death with cover ceasing on your 70th birthday/ selected retirement age||£6 per month|
For both options it will cost £11 as a total guaranteed fixed monthly payment.
If you secure an Income assured enhanced policy, then for an additional premium you can protect yourself against lost earnings as from day one (even though your benefit payments for illness were chosen to begin from your selected deferred period).
Once you become a member (by taking out a policy with Cirencester Friendly) you’ll be open to their financial and wellbeing support benefits.
Below are the six benefits offered:
If your child should get one of their ten listed illnesses, you’ll be provided with a lump sum of £2,500.
You’re provided with a 24 hours, 7 days a week, online GP service (via phone or video calls) with a qualified GP. This service isn’t only available for you but also your partner and children.
Another telephone service for you and your partner, to provide therapies, emotional support and help with your mental health from a personal nurse.
A financial support service for personal use or any other financial issues you may be working on (e.g. in your community)
A personalised health and wellbeing service that specialises in nutrition, sleep, exercise and general health.
Access to a variety of discounts and offers on shopping, brands and lifestyle (cinema and gym).
Although these are some great additional benefits that come with being a member, they shouldn’t sway your decision. You should base your choice of what income protection policy to go for off what suits your needs and budget best.
Comparing quotes could help you not only find a suitable policy, but also help you find one quickly and within your budget.
If you decide you no longer want to be a member of Cirencester Friendly and hold a policy with them, then you may cancel at any time.
To do so, you must get in contact with Cirencester Friendly directly.
Tel: 0800 587 5098
Like many other income protection providers, you’ll be provided with a 30-day window once your policy has started to change your mind. The insurers will refund any premiums taken and your income protection will then come to an end.
If you cancel after this 30 day window, you won’t get any money back. If your health had rapidly decreased after cancelling and you then tried to take out a new policy, you may run the risk of being declined.
It's important to seek professional advice before making any big decisions, like cancelling a policy.
Reassured Advice offer professional advice regarding your policy, as well as finding you free quotes and personal recommendations.
Cirencester Friendly’s income protection policies offer great value and flexibility for those who smoke or have a hazardous occupation and are struggling to find an affordable policy (as there are no premium inflations other than for poor health).
Reassured Advice can compare fee-free quotes from Cirencester Friendly with all other leading UK income protection providers.
By comparing quotes, you could save yourself time and money. You’ll also get to explore what the market has to offer, to ensure you’re receiving the best price and a suitable policy.
Reassured Advice can offer assistance and answer any questions and quires you may have regarding income protection.
Why not get in touch today to find your ideal policy?
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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