What is Holloway Income Protection?

Holloway Income Protection provides cover if you are unable to earn a living due to illness or accidental injury. It works in much the same way as a pure income protection contract in that you pay a premium and in return Cirencester friendly provides a continuing income in the event of a claim.¹

However, unlike many other income protection insurance providers our Members also have the option to share in the Society’s success and share in the surpluses the Society makes over the lifetime of your contract.
 

This builds into a capital sum which is retained by the Society until the natural end of your contract when it is paid out to the Member as a tax free lump sum². As a mutual insurer we like our Members to share in our growth and this option is available to all of our Members throughout the life of their contract.

Why choose Holloway Income Protection?

The Holloway principle is built around the original essay written by Stroud Business man George Holloway. As a business owner he was concerned that if his workers should become sick and unable to work they would suffer a loss of income, which, in a world with no State Benefits would often have dire consequences to both the worker and his family.

He also wanted to make sure that when his workers retired they would have some capital funds to look after them in their old age. So in exchange for an affordable contribution from the worker he offered them cover for illness and accidental injury and shared any surplus payments amongst those who paid in to the scheme.

Although the State Benefits system does exist today, in an era where the Government is making serious cuts and re-evaluating the way in which benefits are assessed it is safe to say that protecting your income should you fall ill or suffer an accident is a vital part of the financial planning process. With Holloway income protection products like Income Assured Plus not only are you getting a great protection product but you have the option to share in the Society's success.
 

Cirencester friendly Holloway Income Protection

Today Cirencester friendly continues to uphold that very same principle that George Holloway had over 130 years ago – affordable income protection and the option to share in the in any surpluses that the Society accrues.

For over 120 years Cirencester friendly has been protecting the UK workforce and sharing our success with our Members. Our flexible income protection contract, Income Assured Plus, has received many awards since its launch and continues to be a favourite amongst Financial Advisors and their clients.

Download our Key Features Document here.

1.  Subject to claimant meeting the claims criteria - Cirencester friendly paid 94.3% of claims in 2011
    click here to see our 2011 Claims Statistics Card.

2.  This is based on our understanding of the current law and this could change in the future.