Compare Shepherds Friendly Life Insurance Quotes Against The Market

Founded in 1826 as a mutual society, Shepherds Friendly has no shareholders to pay, meaning all profits are either reinvested into the business or shared with its members. With nearly 200 years of history, the society has built a reputation for fairness and transparency, particularly in the Over 50s and Income Protection sectors.

Shepherds Friendly is recognised for its high payout rates and excellent customer service, consistently earning Excellent ratings on platforms like Trustpilot.

At a Glance: Shepherds Friendly

• Company Type: Member-owned mutual society

• Claims Record: Strong reliability, paying out 96% of income protection claims in 2024

• Product Range: Specialist Over 50s Life Cover, Income Protection, and ISAs

• Expert Ratings: 5-star Defaqto rating for both Over 50s Life Insurance and Income Protection

• Unique Selling Point: Guaranteed acceptance for Over 50s and no premium loading for health or lifestyle on Income Protection

• Best For: Individuals aged 50–80 with pre-existing conditions and those seeking budget-friendly sick pay cover

Types of Protection Offered

Shepherds Friendly specialises in accessible, straightforward protection plans with fixed premiums.

1. Over 50s Life Insurance

A whole of life plan designed to help with funeral costs or leave a small legacy.

• Guaranteed Acceptance: Available to UK residents aged 50 to 80 with no medical questions or exams

• Fixed Premiums: Payments start from £10 per month (capped at £50) and are guaranteed never to increase

• Moratorium: Full cover is payable after 24 months. If death occurs earlier from natural causes, 150% of premiums are refunded

• Premium Holiday: You stop paying premiums at age 90, but remain fully covered for the rest of your life

2. Income Protection

Provides a tax-free monthly income if you are unable to work due to illness or injury.

• Flexible Payouts: Cover up to 70% of your gross income (maximum £33,600 per year)

• Short & Long-Term Options: Choose to receive benefits for 1 or 2 years per claim, or right up until your chosen retirement age (up to 70)

• No-Loading Promise: Unique in the market, they do not increase your premium based on your health conditions or hobbies—the price quoted is what you pay

Key Benefits and Member Perks

• National Bereavement Service: All members and their families get free access to professional counseling, guidance, and probate support

• Funeral Benefit Option: If you nominate Co-op Funeralcare as your provider, you receive an additional discount of up to £250 on your funeral costs

• New Child Payment: Members receive a £250 contribution into a Shepherds Friendly Junior ISA upon the birth or adoption of a child

• Virtual GP & Wellbeing: Income Protection members get 24/7 access to Nuffield Health Virtual GPs and 20% discounts on Nuffield Health gym memberships

• Mutual Moments: A unique discretionary fund where staff can spend up to £25 per month to send small moments (like birthday cakes) to members

Pros and Cons

The Pros

• Member-Owned Ethos: Profits are reinvested to benefit members rather than external shareholders.

• Transparent Claims: A 96% payout rate for income protection is high for the UK mutual sector

• Inclusive Pricing: The lack of health/hobby loadings on income protection makes them highly competitive for active or non-standard applicants

• Exceptional UX: Customers consistently praise the straightforward and simple online application process

The Cons

• Minimum Premium: Life insurance starts at £10, which is higher than some budget competitors who start at £5 or £7

• Waiting Period: The 24-month moratorium for natural death on Over 50s plans is longer than the 12-month period offered by some rivals

• Limited Tailoring: Unlike standard term insurance, these plans cannot be easily tailored to match specific decreasing mortgage balances

Customer Consensus

Shepherds Friendly holds an Excellent 4.6/5 rating on Trustpilot and Reviews.co.uk.

• The Positives: Customers frequently highlight that the society is very easy to join with a helpful and kind customer service team. Many members appreciate that they received factual, straightforward answers without high-pressure sales tactics

• The Negatives: A small number of reviewers have expressed frustration with denied income protection claims, often due to non-disclosure of medical history during the initial application. Some users also reported that withdrawal processes for their ISAs could sometimes take longer than expected

How Their Products Compare to the Rest of the Market

Shepherds Friendly positions itself as a service-led specialist for those who value mutual ethics.

• Rates: While their premiums are fixed and competitive, the £33,600 income protection cap is lower than high-street giants like Aviva or LV=, who can protect hundreds of thousands in annual income.

• Incentives: New customers can often claim a welcome gift (e.g., a £125 Love2Shop gift card) after paying six months of premiums.

• Mutual Advantage: Compared to PLC insurers, their no-health-loading model for income protection is a major advantage for people with manageable chronic conditions

How Our Life Insurance Advisers Can Help

Shepherds Friendly offers a fantastic, human-centric route to protection, but their no-medical approach isn't always the cheapest if you are in perfect health. Our team of independent life insurance advisers can help you:

• Underwriting Benchmarking: We’ll check if you could qualify for a standard underwritten policy, which could provide significantly more cover for the same £10 premium if you are healthy

• Misconception Clearing: We help you navigate common myths about income protection to ensure you choose the correct deferral period to match your employer's sick pay

• Trust & Estate Planning: We help you place your policy in a Trust for free, ensuring your payout avoids 40% Inheritance Tax and reaches your loved ones within days

Get started to speak with one of our advisers today to see if a Shepherd's Friendly is your best fit, and receive more suitable recommendations, where applicable.