Cirencester friendly has a 120 year history of providing Income Protection for workers across the UK. Our mission is to efficiently grow our market share through product innovation and development whilst staying true to our Holloway Roots. To achieve this we have developed six supporting pillars:
- Giving customers products that meet their needs
- Growing the customer base
- Protecting capital
- Controlling costs
- Delivering high standards of service
- Developing staff and systems
(You can find out more about our Six Supporting
Pillars in our 2010 Annual Report)
We are proud of our Member owned mutual status
which we believe better aligns the interests of
the business and those who own it, our Members.
What is a Friendly Society?
Friendly Societies are sometimes referred to as mutual societies. They are owned by and run for their Members, they have no shareholders and are not quoted on the stock exchange. Although they were largely set up for insurance, pensions, savings and loan-like purposes many served a social purpose too. In fact initially many UK Friendly Society meetings were held in the local pub!
Members of these mutual societies would pay a regular membership fee or contribution for certain benefits. They also went to the society’s meetings where the rules and the running of the society were discussed. If they became sick they would receive benefits to help them pay their bills. Although UK Friendly Societies are now regulated by the Financial Services Authority (FSA) the principal behind them remains the same.
What makes us different? Holloway Insurance Explained
In 1878 Stroud business man George Holloway wrote an essay detailing a scheme that provided workers with sick pay, should they fall ill and become unable to work, in exchange for a small regular premium from the worker.
He also identified the need to provide for the worker after they had retired from work and in his essay detailed a way for them to build a capital fund throughout their membership to the scheme. This became known as the Holloway Principle.
Cirencester friendly offers what is known as a Holloway style income protection contract. Unlike many other income protection providers this provides our Members the option to accumulate a capital sum in conjunction with their income protection contract by sharing in the Society’s surpluses.
Find out about Income Protection
Cirencester friendly is a single product Society. We offer Income Protection for illness and accidental injury. As a result we are able to offer one of the best income protection products in the UK market. We have been presented with many industry awards including Best Income Protection Provider.
To find out more about our Income Assured Plus contract visit our Income Protection Pages
Income Assured Plus is an income protection contract that has an option to accumulate a capital sum. Before you apply for any financial product of this type you should contact your Independent Financial Adviser.
To find an Independent Financial Adviser in your area visit www.unbiased.co.uk.