At Red Star Financial Services, we understand how crucial your income is to your everyday life. If illness or injury prevented you from working, how long could you manage your financial commitments? That’s where income protection insurance becomes essential—providing a safety net when you need it most.
We collaborate with trusted providers like Cirencester Friendly Society, a mutual insurer with over 135 years of experience. Their commitment to members and impressive claims record make them a standout choice for income protection.
About Cirencester Friendly Society
Established in 1890, Cirencester Friendly has been dedicated to protecting the lifestyles of its members for over a century. As a mutual society, they are owned by their members, not external shareholders, ensuring that all decisions prioritize member benefits. This structure allows for reinvestment into the business to enhance products and services continually.
Their mission is simple: “We Protect Lifestyles.” This is achieved through their vision to be the go-to provider for income protection, underpinned by core values encapsulated in the acronym HEART—Honesty, Excellence, Accountability, Respect, and Trust.
Over the years, Cirencester Friendly has earned numerous industry awards, reflecting their commitment to service, claims transparency, and member satisfaction.
What is Income Protection?
Income protection provides a regular monthly benefit if you’re unable to work due to illness or injury. Unlike critical illness cover, which pays a lump sum, income protection replaces a portion of your income—typically up to 60-70%—until you’re well enough to return to work or reach retirement age.
It’s a flexible, long-term solution designed to maintain your financial stability during challenging times.
Why Choose Cirencester Friendly?
- Consistent Claims Payment: Over the past 15 years, they have maintained an average claims payout rate of 94.6%, with 95.8% of claims paid in 2024.
- Financial Strength: Over £10 million in benefits were paid out to members in 2024.
- Member Ownership: Being a mutual society, members are at the heart of every decision.
- Comprehensive Coverage: Flexible plans are available for employed and self-employed individuals, with a variety of deferred period options.
- Added-Value Services: Members benefit from extras like 24/7 GP access and a confidential support line.
- Real-World Impact: The longest claim paid lasted 34 years, with the highest annual payment reaching over £53,000 in 2024.
Top Reasons for Claims in 2024
According to Cirencester Friendly’s latest statistics, these were the top reasons people claimed:
- 33%: Back, neck, shoulder, muscular issues, arthritis
- 21%: Accidents
- 17%: Other conditions (including digestive, respiratory, ear/eye issues, allergies, etc.)
- 10%: Hip and knee problems
- 6%: Mental health conditions
- 5%: Infections
- 4%: Heart/circulatory conditions
- 3%: Cancer
Note: The most common reasons for both men and women were musculoskeletal issues, accidents, and “other” conditions.
Why Claims May Be Declined
Cirencester Friendly prides itself on paying the vast majority of valid claims. However, some claims may be declined for the following reasons:
- Claim related to an excluded medical condition
- Claim ended before the deferred period expired
- No proof of income was provided
- Misrepresentation during application or claim process
- Late submission of required documentation
Tip: To give yourself the best chance of a successful claim, always disclose accurate and complete information and review your policy regularly.
The Claims Process: Quick & Simple
Cirencester Friendly has made the process easy with three straightforward steps:
- Notify them: Call or email their claims team to let them know about your situation.
- Submit your claim form: This includes a fit note from your doctor and evidence of your income.
- Confirmation: They’ll review your claim and let you know the outcome, keeping you informed at every stage.
We Work with Multiple Providers to Find What’s Right for You
At Red Star Financial Services, we work with a range of trusted income protection providers—not just Cirencester Friendly. Our goal is to understand your needs and match you with the most suitable policy from the market. Whether you’re looking for flexible deferment periods, enhanced illness cover, or added wellbeing services, we’ll guide you through the options to ensure you get the right level of protection at the right price.
Get a Personalised Quote
Ready to explore your options or need tailored advice? We’re here to help.
Phone: 0161 823 1733
Email: hello@redstarfs.com
Website: www.redstarfs.com