News › Shepherds Friendly Income Protection has been awarded a 5 Star Rating by Defaqto

Shepherds Friendly Income Protection has been awarded a 5 Star Rating by Defaqto

28 Sep, 2017

Everyone here at Shepherds Friendly is delighted to announce our newly updated Income Protection plan has been awarded a coveted 5 Star Rating by Defaqto, who are the leading experts in ratings for financial products. Based on facts not opinions, Defaqto Star Ratings provide consumers with an accurate benchmark so that they can see at a glance how products compare.

This gives our Income Protection an expert seal of approval.

This highly regarded rating recognises the quality and comprehensiveness of the features and benefits provided by our Income Protection plan.

Our Income Protection plan is one of our most popular products amongst both clients and intermediaries.

We have undertaken extensive research involving members and intermediaries to identify exactly what the market wanted from an Income Protection plan, and we have added some exciting new benefits to make the plan even more attractive and rewarding.

We’ve made it even more flexible:

  • We’ve included a two-year short-term benefit option, as well as the standard long-term plan
  • Clients can now choose to be covered from day one;
  • The maximum term has been increased up to age 70 (previously 68);
  • Guaranteed insurability – Allows your client to increase their benefit amount should certain ‘life events’ such as marriage, birth of a child or divorce take place.

We’ve made it even more adaptable to changes in circumstances:

  • Working Persons Benefit allows clients to return to work on reduced hours and continue to receive benefits
  • House Persons Benefit provides up to 50% of your client’s chosen benefit level if they are incapacitated while out of work
  • Option to index-link benefits in line with the Retail Price Index
  • Clients can pause the plan if they need to for any reason with the Career Break Benefit

Like all Shepherds Friendly products, our Income Protection plan is designed to be flexible. Your client’s plan can be updated at any time.*

Our CEO, Ann-Marie O’Dea, has said, “The coveted 5 Star Rating is a well-deserved achievement for Shepherds Friendly. It recognises the high quality of the features provided by our Income Protection plan, and we are confident that these latest additions will only further increase its popularity amongst members and advisers alike.”

Who are Defaqto and what is a Star Rating?

Defaqto is a financial information business, helping financial institutions and consumers make better informed decisions.

Their experts research, collect and continuously assess over 41,000 financial products, including income protection, and rate them on a scale of 1 to 5 based on features and benefits that are relevant to consumers. These ratings are known as Star Ratings. They provide consumers with an unbiased and transparent assessment of the products and policies in the market from the Defaqto experts

* All requests are subject to our agreement and may be subject to additional underwriting. If your client wishes to request a change, they must apply to us in writing. We will assess all applications based on their circumstances at the time.


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