May 27, 2021

How Many Claims were paid by Holloway Friendly in 2020?

Holloway Friendly paid out £3.4 million in income protection claims received during 2020, a year-on-year increase of £1m compared to the previous year.

  • The mutual paid out on 98% of claims
  • The most common reasons for a claim were:

-Accident and injury (27%)

-Musculoskeletal (19%)

-Mental health (10%)

-Joints and tendons (6%)

-Surgical procedures (6%)

  • The youngest claimant last year was just 20 years old and the eldest was 64
  • The average age of all claimants at 41
  • The average annual claim payment was £11,000

Why some claims weren’t paid

Holloway Friendly declined payment on 83 claims in 2020. The reasons for this were:

  • non-disclosure of an existing medical condition at the application stage
  • There was no loss of income
  • The criteria of the insurance policy had not been met
  • Claiming for a pre-existing condition which was not included within the policy at the outset

Financial Support

Stuart Tragheim, chief executive of Holloway Friendly, commented: “Figures like these give our Members and others looking to buy income protection confidence in their purchases. Knowing they’ll be helped when they really need it.

“We’ve never been about just paying a claim. We truly want to help our Members and their families as if they were our own. This is why we have introduced so much additional support for Members before, during and after a claim. Though the assurance of financial support can help ease the mind, sometimes more is needed like faster access to medical treatment or simply a friendly person to talk to”.

Holloway Friendly have a Member Assistance Programme to support their members in everyday life.

The programme is provided by Care first who have British Association for Counselling and Psychotherapy (BACP) accredited counsellors and Citizen Advice trained information specialists. 

This is a complete support service for members via a freephone number, 0800 484 0818, 24 hours a day, 365 days of the year. As with all additional benefits these services can be amended, replaced or withdrawn at any time.

Source: Cover Magazine May 2021

For full claims details click Here to go to the Holloway Friendly website

Next steps

Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.

Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00

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Please feel free to read our Independent client reviews, or read about the team at Future Proof

Jon’s moving story – being diagnosed with cancer

The protection industry pays out over £5.7bn in claims in 2019

What questions will an adviser ask me?

Will my claim be paid?

Why you can trust Future Proof.

The benefits of an index-linked insurance policy

Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer from a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.

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