Should you secure a policy with Foresters Friendly? A quick…
Shepherds Friendly is a well known mutual society insurer who offer a variety of products, including over 50s life insurance.
Shepherds Friendly are a highly rated provider, being awarded 5 stars by Defaqto in 2023, as well as rating 4 stars and above on popular customer reviewing sites.
In this in-depth review, we explore what Shepherds Friendly’s over 50s life insurance has to offer, including which benefits are included and how much a policy costs.
Please note, Shepherds Friendly over 50 life insurance is not available through Reassured. However, we can compare quotes from a variety of leading insurers, which could help you to save money and time on securing yourself a policy.
Is Shepherds Friendly a reliable life insurance company? Continue reading our 2023 review to find out…
Reading customer and professional reviews can be a good insight as to see how popular and reliable an insurer really is.
Whilst customer reviews from the main platforms, such as Trustpilot, have rated Shepherds Friendly 4 stars and above overall, this is based on all their products (a mixture of ISAs & investments, income protection and over 50s life insurance).
We gathered the top expert reviewing sites to find honest ratings of the Shepherds Friendly over 50s policy:
|Review site||Star rating (out of 5 stars)|
Shepherds Friendly Limited, a Cheshire based company, was established on Christmas Day in 1826.
Multiple groups formed together as a mutual society, which means Shepherds Friendly has no shareholders and their profits are reinvested in the business to improve their services. It is run for the benefit of its members.
Their main goal was to provide financial security and protection to those unable to work due to falling ill with sickness or injury.
Now just under 200 years later, more financial products have been sold by Shepherds Friendly, such as over 50s life insurance and ISAs.
What is over 50s life insurance?
Over 50s life insurance (or an over 50s plan) is a suitable and affordable option if you want to be covered for the rest of your life, with guaranteed acceptance if you’re a UK resident aged 50 - 80 (with Shepherds Friendly).
It’s usually a popular option for people in this age group as you don’t have to provide your medical information. This means your premiums won’t be affected by any health factors.
Your loved ones will be provided with a cash lump sum pay out after your passing.
An over 50s plan could be ideal for those who have struggled to secure standard cover due to poor health or who have been declined previously, or those who have minimal financial commitments.
At Reassured, we can help to compare quotes for over 50 life insurance, which guarantees acceptance to those aged 50 - 85.
Quotes start from just £5 a month + and you can secure up to £20,000 depending on your personal circumstances and budget.
Here are the main facts to know about Shepherds Friendly over 50s policies:
How much life insurance you need will be based on what you want your policy to cover, as well as your personal circumstances and budget.
It is important to think about financial burdens you do not want to leave behind, such as funeral costs.
Work out how much cover you may need by filling out our over 50s life insurance calculator with your current financial commitments:
Shepherds Friendly over 50s plans start from £10 per month and you can choose to pay up to £50, depending on how much cover you are looking to secure.
Your life insurance premiums are guaranteed which means they will never rise or reduce, regardless of your future health.
The table below shows some example premium prices for Shepherds Friendly over 50 life insurance. Quotes are based on a non-smoker taking out around £4,000 of cover:
|Age||Monthly premium||Sum assured|
At Reassured, we can compare quotes starting from just £5 a month from some of the UK’s leading insurers.
Get in touch with our friendly team to secure your free, personalised quotes.
Opt-in to additional funeral support option. Shepherds Friendly include an opt-in to additional funeral support option on all over 50s policies, where you can nominate Co-op Funeralcare to receive your cash lump sum when you pass away.
By selecting this Funeral Benefit Option, Co-op Funeral care will offer a discount, helping you save up to £250 on your funeral costs.
(However, a disclaimer about this benefit is that the £250 funeral benefit will only apply to ‘Tailored’ funerals through Co-op and any funeral benefit will only be applicable for UK residents. If your family opt for an ‘Essential’ funeral then you’ll only be eligible for a benefit of £100, and if they opt for direct cremation or burial then the benefit will be £50).
National Bereavement Service. Your friends and family of choice will also receive access to the National Bereavement Service.
A National Bereavement Service is a ‘not for profit’ organisation that can offer counselling and guidance to those who are grieving after a loved one passes away, an extra benefit to help support those during a tough time.
Free cover after age 90. Once you’ve paid 30 years of premiums or you have turned 90 (whichever comes first) you then will never have to pay premiums again for your policy, regardless of when you took out your plan.
Yes, they’re an ethical company regulated by the Financial Conduct Authority which means that you’re protected when securing a policy through Shepherds Friendly.
With over 100,000 members, the company has an all over good reputation with the limited amount of products they do offer.
Like all other insurers, Shepherds Friendly are also reliable when it comes to policy pay outs.
100% of valid claims for over 50s policies are paid out (within the terms and conditions) and 96.2% of new claims made by income protection customers were accepted.
Here is a table that compares Shepherds Friendly over 50 life insurance with other over 50s policies from some of the UKs leading insurers:
|Insurer||Guaranteed acceptance age||Maximum cover amount||Funeral benefit option||Waiting period||Fairer finance rating (out of 5 stars)|
|50 - 80||£20,000||24 months|
|50 - 85||£18,000||12 months|
|50 - 80||Not specified||12 months|
|50 - 80||£20,000||24 months|
SunLife and One Family over 50s life insurance quotes can be secured with Reassured from just £5 a month.
When directly purchasing an over 50s policy with Shepherds Friendly, you will receive a £50 Love2Shop voucher.
This voucher can be used online or in store at a variety of retailers including Amazon, Marks & Spencer, John Lewis, iTunes and more.
You will receive your free gift once you have paid your sixth monthly premium, via email.
Free gifts are a method used by insurers to entice customers into securing a policy with them.
Reassured have written a full guide reviewing the best life insurance with free gift offers available in 2023 »
Another popular product sold by Shepherds Friendly is income protection insurance.
Income protection is a type of insurance policy that makes sure you get a regular income if you’ve had to stop working due to certain circumstances, such as illness or injury. The income can last until you retire or can return to work.
Starting from £5 a month directly from their website, up to 70% of your income can be covered when you are unable to work. The percentage of your monthly income you want to cover will depend on how much you pay in monthly premiums.
This pay out replaces some of your regular income in the form of a tax-free payments, which can help pay for the usual things your income would cover. For example: household bills, childcare, medical bills, mortgage/ housing payments.
When looking to secure income protection it is important to compare quotes.
At Reassured Advice, we compare a range of income protection policies and quotes from the whole of the market, including Shepherds Friendly.
In summary, Shepherds Friendly is a reliable and popular insurer best known for their over 50s life insurance policies.
However, the only life insurance cover available is for over 50s and the premiums start at £10 which can be slightly more expensive compared to other insurers.
Although we can’t offer Shepherds Friendly quotes, here at Reassured we can provide quotes from a variety of other leading insurers, to help you find our best deal.
Why not get in touch with one of our friendly professionals today to help you find our best deal?
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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