"We believe that Friendly Shield will appeal to most individuals aged between 18-50, providing essential peace of mind should the unexpected happen for a very affordable price. "
- Graham Singleton, CEO of National Friendly
Following adviser feedback, National Friendly has launched Friendly Shield to support families struggling financially after an unexpected accident. The Society believes its pricing structure is both affordable and aimed at individuals who may struggle to afford traditional protection products or don’t have a need for long-term Income Protection (IP).
Friendly Shield is designed to provide various benefits to support individuals before and after an unexpected accident – the policy also allows for multiple simultaneous claims should policyholders need to claim more than one benefit as a result of their injury.
This product has a three-tier structure which doesn’t require medical or financial underwriting, allowing for standard pricing for those aged 18-50 years old across all accepted occupations.
| Bronze (per month) | Silver (per month) | Gold (per month) | |
| Income Benefit | £750 | £1,500 | £2,250 |
| Fracture Cover | £1,000 | £2,000 | £3,000 |
|
Hospital Cash (£50 per night) - maximum overnight stays in any policy year |
60 | 180 | 360 |
| Accidental Death | £45,000 | £85,000 | £85,000 |
| Natural Death | £2,500 | £2,500 | £2,500 |
| Rehabilitation Benefit | Up to £1,000 in any policy year for all levels | ||
| Friendly GP | Included as part of core cover from policy opening, access to a private GP any time day or night | ||
| Price | £10 | £17 | £24 |
Friendly Shield will include cash benefit of £50 per night for any covered accidents for up to 360 days; lump sum benefit for bone fractures up to £3k; short-term accident-only income benefit up to £2.25k per month for up to three months; lump sum payable upon accidental death up to £85k; lump sum payable on any cause of death of £2.5k after a two-year qualifying period; 24/7 access to a virtual GP for the whole family from the policy’s opening; payment of up to £1k providing access to private facilities covering physical therapies such as acupuncture, physiotherapy, osteopathy etc…
The product also provides cover for the whole family, offering policyholders the chance to add a spouse and children at a small additional cost – there’s flexibility to be added as a rider to existing policies or be sold standalone, making it a welcome addition to advisers’ toolkits.
“Brokers have told us they want a quick, non-underwritten, cost-effective suite of benefits with minimal exclusions to help members cover the unexpected that’s not covered by a standard long-term IP policy. This is especially important for brokers with mortgage and renter customers,” explained Graham Singleton, CEO of National Friendly.
He said: “Whilst core inflation may be falling, the Cost-of-Living Crisis is still affecting households in the UK, with ONS reporting that 55% of adults in May 2024 felt an increase in their household expenses compared to the month before.
“Friendly Shield gives advisers an alternative and viable product for when traditional protection products may not be needed or perceived as too expensive helping them to serve more needs and keep more clients protected,” Graham added.
Commenting on the launch, Ian Sawyer, Commercial Director at Howden Life & Health, said Friendly Shield is a “welcome addition to the market, helping customers see off the initial impact of accidents. Its innovative design and simple structure will resonate with customers who seek an affordable and quick solution.
“With Friendly GP providing immediate family access to much-needed GP services, the policy will have an impact on lives from day one,” he concluded.
