"We’re pleased to have helped so many members and their families last year, providing vital financial support during periods when they were unable to work."
- Ann-Marie O’Dea, CEO of Shepherds Friendly
Last year, Shepherds Friendly paid 96% (477) of new Income Protection (IP) claims. Overall, the mutual paid out £3.23mn for new and existing IP claims.
Musculoskeletal (MSK) conditions made up more than half (55.8%) of new claims received during 2024, followed by conditions affecting the chest, lungs, nose, or throat (6.9%), and heart conditions (6.9%).
Mental health conditions made up 5% of claims, while gastrointestinal problems and cancer accounted for 4.8% and 4%, respectively.
The value of payments made was also dominated by MSK conditions (54.6%) for both new and existing IP claims in 2024. Mental health conditions were the next highest at 11.5%, followed by cancer at 9.9%.
Conditions affecting the chest, lungs, nose, or throat accounted for just 1.9% of the amount paid out, while gastrointestinal problems made up 1.2%. Heart conditions were responsible for 3.7% of last year’s payouts.
19 claims were rejected for not meeting the policy's terms & conditions.
Ann-Marie O’Dea, CEO of Shepherds Friendly (pictured), said, "We’re pleased to have helped so many members and their families last year, providing vital financial support during periods when they were unable to work.
"As a mutual, our members always come first and have done so for almost 200 years. As we look ahead, we remain dedicated to meeting their changing needs in the future."
