Category Archives: Insurance

At Red Star Financial Services, we’re proud to have a close working relationship with Holloway Friendly — a specialist income protection provider with a long history of putting people first. Their 2024 claims performance shows just how vital this cover can be when life takes an unexpected turn.

In 2024 alone, Holloway Friendly paid out £5.13 million to members who were too unwell to work — a 20.2% increase compared to 2023. These figures, drawn entirely from Holloway Friendly’s latest claims data, highlight the real difference income protection makes for ordinary people across the UK.

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📊 What the 2024 Claims Data Shows

• £5.13 million paid out to members

• 607 claims admitted

• 94% of new claims were accepted

• 96.5% of claim decisions made within 30 days

• 99.8% of members making a claim were contacted within 24 hours

• Most common cause of claim: musculoskeletal issues

• Mental health conditions and cancer also among the top reasons for being off work

• Average claim assessment time: 3 working days

• Youngest claimant: 19 | Oldest claimant: 64

These aren’t just statistics — they represent hundreds of people who were able to stay afloat financially during illness or injury, thanks to having the right cover in place.

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✂️ A Realistic Example (Fictional Case Study)

To bring this to life, here’s a fictional but realistic scenario based on the types of claims Holloway Friendly sees:

“Emma, 36, is a self-employed hairdresser. After developing severe wrist pain from repetitive strain, she was signed off work for eight weeks. Without income protection, she’d have had no way to pay her rent or bills — but her Holloway Friendly policy paid a monthly benefit that kept her afloat until she was well enough to return to the salon.”

While Emma isn’t a real person, her situation mirrors the kind of short-term absence many workers face — and shows the practical value of having cover in place.

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👩‍🔧 Who Is Income Protection For?

Holloway Friendly supports people from all walks of life — including care assistants, plumbers, electricians, retail workers, teachers, self-employed tradespeople, hairdressers, and company directors. Whether you’re on PAYE or working for yourself, if you rely on your income to live, you could benefit from protection.

And it’s not just for life-changing illness. Many claims are for temporary issues like back pain, stress, or post-op recovery — things that could happen to anyone.

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🏛️ Why Holloway Friendly?

Founded in 1875 by social reformer George Holloway, Holloway Friendly pioneered the UK’s first income protection policies. Today, they remain a member-owned mutual, operating purely for the benefit of their members — not shareholders.

Based in Gloucester, Holloway Friendly focuses solely on income protection. In 2024, they delivered:

• Nearly 100% contact within 24 hours of a claim

• Decisions within 30 days in 96.5% of cases

• A consistent, fair process designed to support rather than stress

This is what dependable protection looks like.

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⚠️ Why Some Claims Are Declined — And How to Avoid It

Holloway Friendly paid the vast majority of claims in 2024, with a strong 88.3% claims paid rate — an improvement on 2023. But like any insurer, there were a few situations where claims couldn’t be paid.

The main reasons were:

• Non-disclosure — when key health or lifestyle details weren’t shared on the original application

• Policy conditions not met — for example, the claimant wasn’t working at the time of illness or didn’t lose income

At Red Star, we help get applications right from the start. We talk through your circumstances honestly, ask the right questions, and make sure nothing is missed — so if you ever need to claim, your cover works as it should.

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☎️ Let’s Get You Protected

At Red Star Financial Services, we help clients across the UK put the right income protection in place — tailored to your job, income, and budget. Many policies start from just a few pounds a week and don’t require a medical.

We’ll explain how it works, what it covers, and how to make sure it fits your needs — with clear advice and no pressure.

📞 Call us on 0161 823 1736 or click here to contact us to book your free protection review.

Let’s make sure you’ve got the right cover in place for 2025 and beyond.

At Red Star Financial Services Ltd, we know that life can throw unexpected challenges your way. That’s why we partner with MetLife UK—one of the world’s most trusted insurance providers. Together, we offer flexible and affordable protection that’s designed to adapt to your life’s journey. Whether you’re just starting out, growing your family, or planning for the future, MetLife has you covered with a range of products that meet your needs.

Let’s take a closer look at what MetLife has to offer and how their products can give you peace of mind when it matters most.

🌟 EverydayProtect: Simple, Affordable Protection for Life’s Little Surprises

Accidents happen, and illnesses can strike when we least expect them. EverydayProtect is designed to make sure you and your loved ones are financially supported when the unexpected occurs.

Key Features:

• Core Cover: Provides benefits for accidental death, permanent disability, broken bones, and hospital stays.
• Optional Add-ons:
  • Child Cover: Covers your little ones with lump-sum payments in case of cancer diagnosis or accidents.
  • Active Lifestyle Cover: Perfect for those who love sports, this add-on covers injuries like ligament tears and tendon ruptures.
  • Specialist Healthcare Cover: Ideal for healthcare workers, offering protection against specified infectious diseases.
• Wellbeing Support Centre: 24/7 access to counselling, legal advice, and practical support.
• Virtual GP Service: Unlimited access to a GP for medical advice, wherever you are.

Why Choose It?

• Affordability: Starting from just £10 per month, it’s an affordable way to protect yourself and your family.
• Flexibility: Pick and choose the cover you need based on your lifestyle.
• Total Support: From financial protection to wellbeing resources, you’re covered on all fronts.

🏠 MortgageSafe: Protect Your Home

Your home is likely your most significant financial commitment. If you’re unable to work due to illness or injury, MortgageSafe helps keep your home and your finances secure by covering your monthly mortgage payments.

Key Features:

• Coverage Amount: Pays up to 110% of your monthly mortgage repayment (up to £1,500).
• Back-to-Day-One Cover: Get protection from day one, with a short deferral period of just four weeks.
• Direct Payment: The benefits can go directly to your mortgage lender or your bank account.

Why Choose It?

• Peace of Mind: Your home remains protected, so you don’t have to worry about mortgage repayments when life gets tough.
• Simplicity: The process is straightforward and easy to set up.
• Quick Support: Start receiving help right away with minimal waiting time.

🚑 MultiProtect: Comprehensive Accident and Illness Cover

Whether you’re travelling, working, or living life to the fullest, MultiProtect has you covered. This product provides financial support for a wide range of injuries and illnesses, so you can focus on recovery without the added stress of financial worries.

Key Features:

• Core Cover: Covers accidental death, permanent disability, and hospitalisation due to illness or injury.
• Optional Add-ons:
  • Child Cover: Extends the protection to your children (up to 23 years old), covering accidents and illnesses.
  • Active Lifestyle Cover: Additional cover for active lifestyles, including injuries from sports and fitness activities.
• Benefit Reductions: Cover reduces by 50% from age 70 onwards.

Why Choose It?

• Comprehensive: Offers extensive coverage for a wide range of events, including everyday accidents.
• Family Friendly: Protects your entire family, not just you.
• European Coverage: Gives you peace of mind whether you’re in the UK or abroad.

👶 ChildShield: Affordable Protection for Your Little Ones

Your child’s safety and wellbeing are priceless. With ChildShield, you can rest assured knowing that they’re covered in case of illness or accident.

Key Features:

• Coverage: Includes accidental death, permanent disability, and hospitalisation for children.
• Age Range: Covers children from birth to 23 years old, even if they’re in full-time education.
• No Living Arrangements Requirement: Your child doesn’t need to live with you to be covered.

Why Choose It?

• Affordable: Get comprehensive cover for your child at an affordable price.
• Tailored Protection: Specifically designed to meet the needs of children, ensuring they’re protected no matter what.
• Extended Coverage: Covers children who don’t live with you, providing broader protection.

Why MetLife UK?

We believe in offering our clients the best. That’s why we’ve partnered with MetLife UK—a provider with over 150 years of experience in delivering reliable, long-term financial protection. Their diverse range of products ensures that, no matter your stage in life, you’ll find a solution that fits your needs.

Whether you’re looking for basic life insurance, comprehensive protection for you and your family, or a safety net for your mortgage, MetLife provides it all. Their focus on customer satisfaction, combined with their global financial strength, makes them an ideal choice for anyone seeking reliable, affordable protection.

The Claims Process: Simple and Transparent

When it comes to filing a claim, MetLife makes it as simple as possible. With clear instructions, dedicated support, and fast processing times, you can rest assured that you’ll get the help you need, when you need it most. MetLife is committed to transparency and ensuring that any claims are processed in a timely manner, allowing policyholders to focus on what matters most during difficult times.

Why Work with Red Star Financial Services Ltd?

At Red Star Financial Services Ltd, we’re more than just an insurance broker—we’re your trusted partner in navigating life’s uncertainties. Our expert advisors work closely with you to understand your unique needs and help you choose the right MetLife products. We’re here to guide you through the entire process, ensuring you’re well-informed and confident in your protection choices.

Financial Strength You Can Trust

MetLife is part of a global insurance group with over 150 years of history. Their financial stability and long-standing reputation make them a reliable partner, ensuring that you can count on them for support whenever you need it.

Ready to Protect What Matters Most?

If you’re ready to explore MetLife UK’s range of protection products, or you’d like to speak with one of our experts, contact Red Star Financial Services Ltd today. Our team is here to help you find the right life insurance solution to suit your needs and ensure your peace of mind for the future.

When it comes to safeguarding your income, choosing the right insurer is crucial. At Red Star Financial Services, we collaborate with providers who prioritise reliability, transparency, and genuine value. One such provider is British Friendly Society Limited, renowned for their personal approach and commendable track record.

If you’re exploring income protection insurance in the UK, here’s why British Friendly stands out and why they’re among our trusted partners.

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A Century-Long Commitment to Members

Established in 1902 in Bedford, England, British Friendly began by offering sickness benefits to commercial travelers. Over the past 120+ years, they’ve evolved into specialists in income protection, consistently prioritizing their members’ well-being. As a mutual society, they have no shareholders, ensuring that profits are reinvested to enhance member services and support.

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Impressive Claims Record

Trust in an insurer is built on their claims history. British Friendly’s statistics speak volumes:

• 86% of new income protection claims were paid in 2024, amounting to over £5 million in payouts. Source

• Over the past two decades, they’ve maintained a 94% average claims payout rate. Source

• In 2024, they accepted 1,023 new claims, with the majority stemming from musculoskeletal issues, surgeries, and respiratory conditions. Source

Such transparency and consistency underscore their commitment to supporting members during challenging times.

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Flexible and Inclusive Policy Options

British Friendly offers a range of policies tailored to diverse needs:

• Protect: A traditional income protection policy with options for short-term or long-term coverage.

• Breathing Space: Designed for those with irregular incomes, such as self-employed individuals, offering simplified underwriting. Learn more

Key features include:

• Coverage for a wide array of occupations, including manual roles.

• Deferred periods starting from day one.

• Options for level or increasing cover.

• No premium loadings for smokers or manual workers.

This flexibility ensures that more individuals can access the protection they need.

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Value-Added Member Benefits

Beyond standard coverage, British Friendly provides additional support through:

• Mutual Benefits: A discretionary program offering services like virtual GP consultations, physiotherapy, mental health support, and discounts on everyday spending. Learn more

• BF Care: Financial assistance for life-altering events, including death, terminal illness, and recovery support. Details here

These benefits enhance the overall value of membership, offering support even when no claim is made.

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Efficient and Compassionate Service

British Friendly emphasizes prompt and empathetic service:

• Average claim processing time in 2024 was nine working days. Source

• Introduction of a tele-claims service has streamlined the claims process, eliminating the need for traditional forms. More info

Such initiatives reflect their dedication to member convenience and care.

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Our Commitment to Finding the Right Protection for You

At Red Star Financial Services, while we hold British Friendly in high regard, we also collaborate with a range of reputable providers. Our goal is to assess your unique circumstances and recommend the most suitable income protection solution tailored to your needs.

Contact us today for a comprehensive review and let us help you secure the protection you deserve.

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Note: All information is accurate as of April 2025. For the most current details, please refer to the respective sources.

Understanding how each type of protection supports you when life takes an unexpected turn

When you’re planning your financial safety net, two types of insurance often come up: Critical Illness Cover and Income Protection. Both are designed to support you if your health stops you from working, but they work in very different ways.

So which one should you choose? Let’s break it down and explore when each might be right for you.

🔍 What Is Critical Illness Cover?

Critical Illness Cover pays out a one-off lump sum if you’re diagnosed with a serious illness covered by the policy. This typically includes conditions like:

• Cancer
• Heart attack
• Stroke
• Multiple sclerosis
• Major organ transplant

The payout can be used however you need—clearing debts, paying for treatment, or even making lifestyle changes while you recover.

🔁 What Is Income Protection?

Income Protection provides a regular monthly income if you’re unable to work due to illness or injury—not just a critical condition. This can include mental health issues, back problems, or stress, which are among the most common reasons for long-term absence from work.

It usually pays a percentage of your income (typically 50–70%) until you can return to work, retire, or the policy ends.

🧠 Key Differences at a Glance

Feature	Critical Illness Cover	Income Protection
Payout type	One-off lump sum	Monthly income
When it pays out	On diagnosis of specific serious illnesses	If you’re unable to work due to illness or injury
Covers mental health?	Rarely	Often yes
Claim duration	One-time payment	Can pay for years (depending on policy)
Most useful for	Covering large expenses during a health crisis	Replacing regular income while you’re off work

✅ When Critical Illness Cover May Be Right for You

• You want to pay off a mortgage or debt if you fall seriously ill
• You want a financial cushion to adapt your home or access private care
• You’re less concerned about long-term income loss and more focused on covering big one-time costs
• You’re young, healthy, and looking for an affordable starting point for protection

✅ When Income Protection May Be Better Suited

• You want ongoing financial support if you can’t work due to any illness or injury
• You’re self-employed or don’t get much sick pay from your employer
• You’re concerned about day-to-day bills and living expenses
• You want broader cover, including for things like stress, burnout, or musculoskeletal issues

🔄 Can You Have Both?

Absolutely—and for many people, having both makes sense.

Critical Illness Cover helps with large, immediate expenses.
Income Protection helps with your ongoing monthly outgoings.

Together, they can give you well-rounded protection from a wider range of scenarios.

Final Thought

There’s no one-size-fits-all answer—your job, lifestyle, family situation, and financial commitments all play a role in what kind of protection is best.

If you’re unsure which way to go, speaking to an independent adviser can help you build a policy that’s shaped around your real life—not just the worst-case scenario.

Need help choosing between Critical Illness Cover and Income Protection?

At Red Star Financial Services, we specialise in helping people find the right protection products for their current situation. Whether you’re new to insurance or looking to review what you already have, we’ll help you identify your needs, explore your options, and set everything up smoothly—without the jargon.

We’ve helped thousands of people across the UK get the cover they need, with over 4,000 five-star reviews to back it up. We’re proud to offer friendly, honest advice that puts you first—because protecting what matters most should feel straightforward and stress-free.

📞 0161 823 1733
📧 hello@redstarfs.com
🌐 www.redstarfs.com