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Holloway Friendly Income Protection Insurance

Income Protection Insurance.  Enjoy 3 Months' FREE cover

Fill in the form on this page with the code BL3MF to qualify for THREE MONTHS’ FREE COVER when you set up your income protection policy with us.

Holloway Friendly -Introduction

Holloway Friendly was founded in 1880 by the originator and inventor of income protection insurance – one George Holloway.

Since its inception as a friendly society, it has grown substantially to become a wholly successful provider of income protection insurance.  Indeed, it was the first to offer disability insurance in the UK.

Holloway Friendly paid out 96% of claims in the UK, making it one of the leading insurers regarding successful pay outs.

How Financially Strong is Holloway Friendly?

This is a strong performing insurer in the UK.

In 2016, Holloway Friendly’s investment income was £1.22 million, with a net investment return of approximately £2.4 million.

Income Protection Insurance from Holloway Friendly.  Your At-A-Glance Guide

In a nutshell, Holloway offers robust income protection cover that will provide a regular income should you be unable to work due to illness or an accident.  Payments are normally paid out twice-monthly.

They offer own occupation incapacity definition.

In addition to their IP insurance, Holloway Friendly offers a number of additional benefits to help you recover and get back to work (see below).  They also provide a career break benefit, with a payment holiday on your premiums – this is quite unusual.

With Holloway, there are two types of cover: Purely Income Protection (as standard) as well as Short-Term Income Protection for those seeking a more affordable option.

Holloway Friendly policies are particularly suitable for higher earners, offering up to 60% of your gross earnings and cover for salaries up to £100,000.

You can exclude any dangerous hobbies or pass times from your cover should you so choose.  This will lower your premiums.

Holloway Friendly offers age banded premiums, meaning that your payments will increase on a year on year basis.

As with all income protection insurance providers, there are exceptions and caveats, so read through the following carefully and refer to the experts at Black Lion Insurance for further information.

Remember, we are whole of market insurance advisers, and will be able to offer an unbiased view on all policies, not just Holloway Friendly.

Overview of Key Policy Details 

Policy Type Income Protection
Premium Type Guaranteed Age Banded
Maximum Claim Duration Until your policy cease age
Incapacity Definition Own occupation
Deferred Period Day 1/ 1 week/ 4 weeks/ 8 weeks/13 weeks/ 26 weeks/ 52 weeks
Indexation Optional.
Waiver of Premium Yes. After your deferred period.
Maximum Cover 60% of your gross income annually before tax.  Maximum salary covered £100,000 per year.
Minimum Entry Age 18 years
Maximum Entry Age 59 years
Minimum Policy Term 5 years
Maximum Cease Age 70 years
Policy Exclusions Unemployment NOT as the result of injury, accident or illness

More Jargon-Free Information About Holloway Friendly from Black Lion Insurance

As a family-established business, we’re all about the human side of insurance.

Here at Black Lion Insurance, we’re totally independent and impartial, therefore we’ll recommend Holloway Friendly only if it best suits your occupation, your needs and those of your family. In other words, we’re not tied to any one insurance company.

With us, you’re completely protected.  Why?  Because we’re regulated.  The advice we offer is by the book.  Black Lion Insurance is totally responsible for the policy that we set up for you.  If you do it yourself, you won’t be!

What’s more, we’ve got some bargaining clout.  To get you a better deal, a member of our team will negotiate hard on your behalf.  You’ll be able to claim through Black Lion as well.

Customer service?  We’re all over this one, with many, many five-star reviews for you to read here. Our independent reviews are very strong indeed, as you can see.

So, don’t get confused.  Contact us and we’d be delighted to help you.

Give us a call on 0203 146 2259 if you need further information from us.

Key Points about Holloway Friendly

  • It’s worth mentioning again Holloway Friendly’s own occupation definition of incapacity. This means you’ll be able to make a claim under the classification of not being able to carry out your own occupation, rather than any other role.  We would always recommend own occupation.
  • You’ll be able to claim if you live or work abroad. However, Holloway Friendly stipulates a specific list of countries (mainly Europe and the USA), so check with Black Lion Insurance if you’d like to find out more.
  • Pre-existing conditions that develop into more serious illnesses are highly unlikely to be covered. Obviously, you must disclose these beforehand.
  • There is no limit to the number of times you can claim on your policy. What’s more, if your illness re-occurs during the 6-month period after you return to work, Holloway Friendly will waive your deferment period so that you can claim immediately.

What Else Does Holloway Friendly Offer?

Rehabilitation Benefit.  You will be able to claim partial benefit payments if you return to work part-time or in a reduced job role that pays less (while you recover).  These part-payments are offered for up to 52 weeks and will “top up” the difference between your original and current salary. 

Proportionate Benefit.  Should you decide to re-train for a new role paying a lower salary as a return of not being well enough to return to your previous occupation, Holloway Friendly offers proportionate benefit.  This means that your benefit will “top up” the difference between your new and former salary.

Medical Expenses Benefit. If your consultant and your doctor decide that a specific treatment or treatments will aid your recovery, you will be able to apply for a lump sum towards these payments.

Terminal Illness Benefit.  If, as a result of a diagnosis of a terminal illness where you are expected to pass away within 12 months, this insurer will pay a lump sum equal to 6 months’ IP benefits, regardless of whether you are already claiming benefits.

Career Break.  Holloway Friendly will waive your insurance premiums if you decide to take a career break during the lifetimes of the policy.  This is however only payable for a total of 24 months.

Do YOU need advice from Black Lion Insurance?

You may well do.  Holloway Friendly is one of our key providers of income protection insurance.  But, and you must bear this in mind, it may not suit your needs as well as a policy from one of our other providers.

At Black Lion Insurance, we’d like to think that when it comes to income protection, there’s not much that we don’t know.  This sort of insurance is designed to keep you and your dependents financially secure should you be unable to earn a living.

Therefore, it’s important to get it right.

If you have people depending on you, the very last thing you want is for your claim not to pay out.  And, if you’re not well versed in insurance – and quite frankly why would you be – it’s easy to get it wrong.  Well, we think it is, anyway.  The internet can be a confusing place when it comes to financial services.

If you don’t have several months’ savings stashed away, it’s well worth contacting the financial advice team here at Black Lion Insurance.  We’re fully qualified and insured to offer you just the right advice based on your personal circumstances.

What are we? We’re holistic, whole of market advisors who’ll listen carefully to what you need.

Life is expensive.  But your income protection insurance doesn’t have to be. Don’t waste time trying to find the perfect income protection insurance.  Let us do it for you.

And, don’t forget…

Income Protection Insurance.  Enjoy 3 Months' FREE cover

Fill in the form on this page with the code BL3MF to qualify for THREE MONTHS’ FREE COVER when you set up your income protection policy with us.

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Income Protection FAQs

From our most commonly asked question "Do I need income protection insurance?" to information on what affects the cost of your policy.

What our clients are saying

Black Lion insurance were great in helping me get through the countless jargon and pitfalls when it comes to setting up insurance. I was thankfully recommended to them by a colleague and they made the process seamless ensuring I have the most appropriate policy for me.
Thomas

I’m an IT contractor and I wasn’t sure if I was eligible for this cover, however, to my delight, not only could I have the cover, but I could pay it through my Ltd company. I was covered within an hour of getting in contact. Very prompt and informative service!
Sanjay P

Polite and very clear when explaining my product of interest. Happy to answer any questions and recap on areas that I wanted to ensure I understood clearly before committing. Didn’t feel pressured or rushed at any point and the chap was very pleasant.
Donna Rudd

About Us

Part of Halo Consulting, Black Lion Insurance are a dedicated team of insurance consultants with years of experience in guiding our clients to a solution that meets their specific needs. We specialise in helping both employed and self employed individuals, as well as business owners on a variety of solutions, which range from life insurance, income protection insurance, keyman insurance and shareholder protection insurance.

The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK

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Black Lion is part of Halo Consulting and a trading style of Halo 2018 Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Financial Services Register Number 811239. “