1 bespoke : friendly : service This document is intended for use by professional intermediaries only.
2 Our Underwriting Philosophy BFS Protect provides comprehensive Income Protection. British Friendly offers a bespoke, friendly service, together with a genuine commitment to always delivering high standards. Our underwriting philosophy ensured 96.7% of all claims were paid through 2014 and, in addition, the range of occupations covered is broadening too. Some of our most popular occupations covered include builders, mechanics, plumbers, joiners and carpenters, gardeners and plasterers. Furthermore our common sense approach to underwriting, allows us to be flexible with our decisions. Therefore, where possible we will offer the choice of a loading or exclusion, or alter the deferred period, so the client will still get cover. Did you know? 4.1 million people are currently self-employed 14.2% of all working people are self-employed 2.7 million people are currently claiming incapacity benefits No Statutory Sick Pay for the self-employed 17 days is the length of time most people could support themselves, if they could not earn a wage Figures correct as at May 2012 National Office of Statistics & DWP : bespoke:
3 Self-Employed Champions Self-employed workers often need Income Protection the most, although a comprehensive policy for them can be difficult to find. Offering these customers an own occupation Income Protection Policy, which paid 96.7% of claims in 2014 would therefore be ideal. Well take a look at the benefits that BFS Protect can offer your self-employed customers and you will see why British Friendly are the 'Self-Employed Champions'. Own occupation throughout - no definitions, classes or loadings Day 1 cover, as well as a variety of deferred period options Maximum Benefit of up to 70% of annual taxable income Choice of retirement ages between 50 and 70, with a maximum age at entry of 64 No compulsory retirement age for self-employed or for specific occupations Short Term policies available, paying benefits for 1,2 or even 5 years No standard exclusions, no initial waiting periods and no policy fees Flexibility of underwriting with the ability to tailor cover to clients' specific needs and circumstances No standard underwriting limits for obtaining medical reports Simple pricing structure - no loadings dependent on occupation Claim payments made weekly, directly into client's bank account : friendly :
4 The Moment of Truth Self-employed workers may dismiss Income Protection policies as they believe it will be too difficult for them to claim, if in fact the policy pays out at all. Well with BFS Protect, we treat self-employed workers the same as employed workers and simply ask for a standard claim form to be completed and relevant proof of earnings and medical evidence to be provided. Once the required information has been received, providing there is a valid claim, we pay benefit directly into your client's bank account on a weekly basis. Furthermore, as with our underwriting, we apply a common sense approach to assessing claims. Therefore if your client's earnings in the last 12 months are not reflective of their usual level of earnings, we have the flexibility of being able to assess the claim based on average earnings over the last 36 months. British Friendly has a strong claims payment track record with 96.7% of claims paid in Rehabilitation and proportionate benefits are also offered together with support during the claims period through our health counselling and advisory service. Established more than 100 years ago, British Friendly is already a strong, resourceful and trusted partner to thousands of people and we continue this enduring commitment with BFS Protect. Self-Employed Champions, take a fresh look at Income Protection Click: Call: : service:
5 Underwriting case study A self-employed builder, in his early 30s, who plays rugby at weekends wanted Income Protection with a one week deferred period. In his tele-interview he disclosed a history of rugby injuries which had led to a significant number of short periods off work. Other providers would only offer cover that excluded injuries sustained whilst playing rugby. BFS Protect were however able to offer either a one week deferred period excluding rugby injuries or full cover on a four week deferment. The client opted for cover with a four week deferred period, which means his cover includes rugby injuries. Pricing Examples: > 30 year old, with 1200 monthly benefit and a retirement age of 65 - Day 1 deferred period - Monthly Premium week deferred period - Monthly Premium week deferred period - Monthly Premium However, look at the impact on price if you selected our Short Term Plan with a 2 year benefit payment period, still with 1200 monthly benefit, the premium reduces to just a month. > 40 year old, with 1200 monthly benefit and a retirement age of 65 - Day 1 deferred period - Monthly Premium week deferred period - Monthly Premium week deferred period - Monthly Premium However, look at the impact on price if you selected our Short Term Plan with a 2 year benefit payment period, still with 1200 monthly benefit, the premium reduces to just a month.
6 For more information about BFS Protect please contact us British Friendly Society Ltd No.1 Trevor Street Bedford MK40 2AB Tel: (mainline) Tel: Fax: Website: Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Reg. no: A member of the Association of Financial Mutuals. The Society is incorporated under the Friendly Societies Act Registered No. 392F. BFSPRO-Sv W
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