Cirencester Friendly review 2024

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.

Cirencester Friendly logo

Many wouldn’t be able to live off SSP (statutory sick pay) or personal savings in the event of sickness. In fact, 16% of UK adults (equating to around 8.7 million people) have no savings at all[1].

Best known for being income protection professionals, Cirencester Friendly offer two income protection policies; ’My earnings protected’ and ‘Income assured enhanced’.

In 2023, they paid out 95.8% of income protection claims, maintaining an average pay out rate of 94.5% over the last 10 years[2].

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).

Reassured's advised team 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 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:

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Cirencester Friendly income protection key features

Key features:

  • Own occupation cover (claim if you’re unable to do your own job)
  • 5 star rating on Defaqto
  • Covers up to 60% - 65% of your earnings (depending on which policy you opt for)
  • Includes a range of additional benefits alongside the policy
  • No premium loading for occupation, dangerous hobbies or smoking status
  • Guaranteed premiums
  • Two types of income protection policies available
  • Deferred period options include from day 1 (available with certain additional benefits) and 1 week, which are the shortest deferral periods on the market
  • Mutual insurer status
  • You’re able to amend your policy or increase your cover quickly and easily
  • Cover must be secured through a broker or financial advisor

Who is Cirencester Friendly?

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 reviews

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.

Policy type Defaqto logo
Income Assured Enhanced Defaqto 5 stars
My Earnings Protected Defaqto 5 stars

What do Cirencester Friendly sell?

Cirencester Friendly sell income protection services only but they also offer many additional benefits and policy add-ons, listed below:

  • Immediate death benefit

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.

  • Recovery benefit

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.

  • Terminal illness cover

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.

  • Split deferral period

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.

  • Indexed cover available

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.

  • Severe injury cover

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 income protection policies

Cirencester Friendly offer two income protection policies, these include:

My earnings protected

An individual income protection policy that insures a part of your earnings if you are unable to work. This is the main income protection policy sold by Cirencester Friendly.

Key points:

  • Long-term (until your policy ends) or short-term (maximum of 2 years) payment periods available
  • Own occupation cover or suited occupation cover (if you reach the set retirement age for your occupation but your cover is still ongoing)
  • Covers up to 65% of your income
  • No premium loading for occupation, smoking or dangerous hobbies (excluding motor sports)
  • A range of deferred periods (1, 4, 8, 13, 26, 52 weeks) or a split period contract where the policy pays part of your benefit after one deferral period and the rest after another
  • Optional severe injury cover can be added
  • You must be aged between 18 - 54
  • Guaranteed level premiums or guaranteed age-banded premiums (increase with age at a guaranteed rate)
  • No limit on the amount of claims you make during the policy term
  • Minimum benefit of £4,160 per year
  • Maximum benefit of £52,000 per year

Income assured enhanced

An individual income protection policy that insures a part of your earnings if you are unable to work. This is the main income protection policy sold by Cirencester Friendly.

Key points:

  • Long-term (until your policy ends) or short-term (maximum of 2 years) payment periods available
  • Own occupation cover or suited occupation cover (if you reach the set retirement age for your occupation but your cover is still ongoing)
  • Covers up to 60% of your income
  • No premium loading for occupation, smoking or dangerous hobbies (excluding motor sports)
  • A range of deferred periods (1, 4, 8, 13, 26, 52 weeks) or a split period contract where the policy pays part of your benefit after one deferral period and the rest after another
  • Optional severe injury cover can be added
  • You must be aged between 18 - 59
  • Guaranteed level premiums or guaranteed age-banded premiums (increase with age at a guaranteed rate)
  • No limit on the amount of claims you make during the policy term

How much Cirencester Friendly income protection insurance do you need?

Pop in your monthly financial commitments to calculate how much income protection you may require:

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£723 a month is the average monthly mortgage payment in the UK, with the average monthly rental price coming in at £700.

The majority of our monthly income will go towards rental or mortgage payments.

For this reason, it’s essential to have precautions in place to ensure you could keep up to date with your payments if you weren’t receiving your usual income.

Monthly income protection payments can help to cover this large expense and ensure you can stay in your home.
£
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According to the Money Advice Service, the average household spends £340 a month on household bills.

This includes electricity, gas, TV and broadband.
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Childcare costs are on the rise with it now costing £137.69 per week for part-time nursery for a child under the age of two.

That’s over £550 per month - is this an amount you’d be able to keep up with if you were unable to work?

Becoming ill could also result in the need for additional childcare while you attend doctors’ appointments or medical treatment.
£
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The average household in the UK spends around £97 a week on their food shop, totaling £388 a month.

While this may seem like a small amount in comparison to some of the other expenses mentioned, the food shop is often where we try to scrimp and save when we fall on hard times.

Income protection can take care of the cost of your weekly food shop, as well as many other essential costs.
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At the beginning of 2020, credit card debt in the UK was at £2.1 billion, with almost 27 million UK residents in some kind of debt.

Becoming unable to work could make it hard to keep up with credit card or loan payments (including car finance or other financed goods).

Failure to keep up with payments could result in additional interest being incurred or late fees issues - resulting in a higher total needing to be paid.
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The average spent on public transport each month comes to an average of £94.

This includes the cost of public transport, as well as petrol and diesel vehicles.

While this amount may reduce while you’re unable to work as you won’t need to commute there may be additional spending on public transportation if your illness or injury leaves you unable to drive.
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Your total cover estimate

£ 0

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How much is Cirencester Friendly income protection?

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:

  • Age
  • Smoking status
  • Occupation
  • Medical history (sometimes even family medical history)
  • Current health
  • Payment period
  • Deferred period
  • Policy term

Quotes from Reassured start from 20p-a-day so get in touch.

Cirencester Friendly comparison

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:

InsurerAge (min and max)Benefit amountPolicy termDefinition of incapacityDefaqto ratingDeferred period
Cirencester Friendly logo 18 - 54Up to 65%Min term 5 years max term of age 70Own occupation or suited tasks5 stars1, 4, 8, 13, 26 or 52 weeks
British Friendly logo 18 - 54Up to 65%

Min term 5 years max term of age 70

Own occupation5 stars4, 8, 13, 26, or 52 weeks
Holloway Friendly logo 18 - 59Up to 65%Min term 5 years max term of age 70Own occupation5 stars1, 4, 8, 13, 26 or 52 weeks
aviva logo 18 - 59Up to 65%5 - 52 years (cover must cease by age 70)Own occupation5 stars4, 8, 13, 26, 52 or 104 weeks
Legal & General 18 - 59Up to 60%Minimum of 5 years
(cover cannot end before your 50th birthday but must cease by age 70)		Own occupation5 stars4, 8, 13, 26 or 52 weeks

Information and statistics have been taken from insurers websites and is correct as of 21/11/24

The policy terms and conditions offered by Cirencester Friendly are largely similar to others on the market. However, Cirencester Friendly offers a slightly lower benefit amount that you can claim over a year than some 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 today and compare quotes from leading insurers.

Compare all leading UK insurers today »

Cirencester Friendly extra benefits

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:

  • You must be 16 - 65 and a UK resident to apply
  • Must supply medical history
  • You will need to be up to date on paying premiums on your existing policy
  • No claims made on the policy in the last 12 months (if you’re already a member)
BenefitWhat is it?How much does it cost?
Fracture & Hospitalisation benefitFracture - 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 benefitA 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.

Day one accident protection

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).

Additional member benefits

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:

  • Children’s critical illness support

If your child should get one of their ten listed illnesses, you’ll be provided with a lump sum of £2,500.

  • GP24

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.

  • Friendly voice

Another telephone service for you and your partner, to provide therapies, emotional support and help with your mental health from a personal nurse.

  • 125 foundation

A financial support service for personal use or any other financial issues you may be working on (e.g. in your community)

  • Your Halo

A personalised health and wellbeing service that specialises in nutrition, sleep, exercise and general health.

  • Member perks

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.

How to cancel my Cirencester Friendly income protection policy

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.

Email: info@cirencester-friendly.co.uk

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 offer professional advice regarding your policy, as well as finding you free quotes and personal recommendations.

Compare Cirencester Friendly income protection quotes

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 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 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?

Compare Income Protection Insurance Quotes »

Sources:

[1] https://www.finder.com/uk/saving-statistics

[2] https://cirencester-friendly.co.uk/documents/Adviser/001_Sales_Aids/Claims-Statistics.pdf

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