Shepherds Friendly life insurance review 2026
A look at Shepherds Friendly’s over 50s life insurance, income protection, claims record and independent ratings.
- Trustpilot
- 4.1 / 5
- 972 reviews · all products
- Defaqto
- 5 out of 5 stars
- Over 50s Life Plan
- Over 50s claims paid
- 100%
- Period not stated
- Entry age
- 50–80
- Guaranteed acceptance
In a nutshell
Shepherds Friendly is a member-owned friendly society whose history goes back to 1826. It sells guaranteed-acceptance Over 50s Life Insurance and Income Protection, and it underwrites life insurance sold by partner brands including Best Insurance, Octopus Legacy and Blueberry Life.
- Over 50s Life Insurance is whole of life cover for ages 50 to 80, with guaranteed acceptance, and it doesn’t ask about your health. You choose a premium of £10 to £50 a month, and Shepherds Friendly guarantees it will never rise.
- If you die of natural causes or a medical condition in the first two years, the plan pays back 150% of the premiums paid. Accidental death in that period pays the full lump sum.
- Premiums stop after 30 years of payments or at age 90, whichever comes first, while your cover continues for life.
- An optional Funeral Benefit Option gives up to £250 off a Co-op Funeralcare funeral, and your estate gets access to the National Bereavement Service.
- Defaqto rates the Over 50s Life Plan and both Shepherds Friendly income protection plans it lists 5 stars. Trustpilot scores the society 4.1 out of 5 across all its products.
- Shepherds Friendly says it has paid 100% of Over 50s Life Insurance claims (without stating a period) and 96% of income protection claims in 2024.
- New Over 50s customers get a £125 Love2shop voucher code after their sixth monthly payment, unless they apply through an adviser or a cashback site.
Who are Shepherds Friendly?
Shepherds Friendly is a member-owned friendly society based in Cheadle, Greater Manchester, with 166,000 members and no shareholders. It started on Christmas Day 1826 in Ashton-under-Lyne as a sickness and benefits society called Ashton Unity, supporting members who couldn’t work through sickness or injury. The society marks 200 years in 2026.
- Life insurer
- The Shepherds Friendly Society Limited
- Legal form
- Incorporated friendly society (Friendly Societies Act 1992), No. 240F
- FCA / PRA firm reference
- 109997
- Authorised since
- 1 December 2001
- Registered office
- Haw Bank House, High Street, Cheadle, SK8 1AL
- Ownership
- Mutual owned by its members, with no shareholders
- Members
- 166,000 (2025)
It was later renamed the Loyal Order of Ancient Shepherds, aiming “to relieve the sick, bury the dead, and assist each other in all cases of unavoidable distress”. Local branches called lodges spread across the country, where officers wore regalia, and mutuals such as Yorkshire’s Royal Shepherds Sanctuary Benefit Society merged into it. According to Wikipedia, the Ancient Shepherds also presented two lifeboats to the RNLI in the 1800s.
-
1826
Ashton Unity, a sickness and benefits society, is formed in Ashton-under-Lyne on Christmas Day
-
1868
The Society’s registration date on the FCA Mutuals Public Register (22 July)
-
1914
Membership of the Ancient Shepherds has grown to 143,000, according to Wikipedia
-
1988
The FCA Mutuals Public Register lists transfers naming four district societies
-
1994
A change of name is recorded; the previous name was Shepherds Friendly Society
-
2001
The FCA register shows the Society as authorised from 1 December
-
2015
The head office moves to Haw Bank House on Cheadle High Street
-
2021
A partnership with Co-operative Funeralcare is announced for Over 50s Life Insurance
-
2026
Shepherds Friendly marks 200 years
Because the society is owned by its policyholders rather than shareholders, Shepherds Friendly says more of its profits are returned to members. Every eligible member aged 18 or over gets one vote at general meetings, regardless of how many policies they hold. It belongs to the Association of Financial Mutuals and mainly writes income protection, Over 50s cover, ISAs, Junior ISAs and fixed rate bonds in the UK.
Alongside its own policies, Shepherds Friendly underwrites life cover for Best Insurance, Octopus Legacy and Blueberry Life, and collaborated on a new direct-to-consumer level term product in 2025. It reinsures its Over 50s business, part of its income protection book and the policies sold through third-party arrangements.
At the end of 2025, the society had 166,000 in-force policies (up from 159,000 in 2024) and a solvency ratio (a measure of financial strength) of 171%, down from 189%. It also agreed commercial terms for Foresters Friendly Society’s UK insurance business to transfer to it, expected in January 2027 subject to regulatory approval.
Jonathan Sandell is Chief Executive, taking over from Ann-Marie O’Dea after her decision in 2025 to step down, and Mark Myers chairs the Board. Since 4 April 2025, an FCA requirement has barred the society from entering any new Appointed Representative or Introducer Appointed Representative arrangement without the FCA’s prior written consent.
Compare quotes from a panel of UK insurers
- Quick 3 step process
- 60 second form
- Free quotes, no obligation
Shepherds Friendly life insurance ratings and reviews
Shepherds Friendly scores 4.1 out of 5 on Trustpilot, 4.6 on Reviews.io and 4.69 on Smart Money People. Defaqto gives its Over 50s plan and both income protection plans it lists 5 stars. The customer scores cover all Shepherds Friendly products, including ISAs and investments as well as insurance.
| Review site | Rating | What it means |
|---|---|---|
| Trustpilot | 4.1 / 5 · Great | Based on 972 reviews of Shepherds Friendly as a whole, including 119 in the last 12 months. 70% of reviews are 5-star and 17% are 1-star. Trustpilot notes that Shepherds Friendly hasn’t invited customers to review recently, so reviews may not be representative. View on Trustpilot (opens in a new tab) |
| Reviews.io | 4.6 / 5 | Based on 2,990 reviews of Shepherds Friendly, with 93% of reviewers recommending it. View on Reviews.io (opens in a new tab) |
| Smart Money People | 4.77 / 5 | The score for Shepherds Friendly’s over 50s life insurance, from 111 reviews (the latest on 26 August 2024). Income Protection scores 4.13 from 24 reviews (the latest in January 2023). Across all products the company scores 4.69 out of 5 (Excellent) from 1,471 reviews, though Smart Money People says reviews have trended negatively over the past 90 days. View on Smart Money People (opens in a new tab) |
| Defaqto | 5 stars | Defaqto rates each product from 1 to 5 stars. It gives 5 stars to the Shepherds Over 50s Life Plan and to both Shepherds Friendly income protection products it lists. View on Defaqto (opens in a new tab) |
| Fairer Finance | 3 stars | Product rating for Shepherds Friendly Society Over 50s Life Insurance, with level cover and premiums that stop at age 90. View on Fairer Finance (opens in a new tab) |
Defaqto ratings for each Shepherds Friendly policy
Defaqto gives 5 stars (on its 1 to 5 scale) to all three Shepherds Friendly protection products it lists. Shepherds Friendly explains that a Defaqto Star Rating reflects the quality and comprehensiveness of the features a product offers.
| Policy | Range | Defaqto rating |
|---|---|---|
| Over 50s life insurance | Shepherds Over 50s Life Plan | 5 out of 5 stars |
| Income protection | Income Protection - Age Costed Reviewable | 5 out of 5 stars |
| Income protection | Income Protection - Guaranteed Level | 5 out of 5 stars |
Ratings checked on 24 September 2026 and may have changed since. Defaqto ratings: defaqto.com (opens in a new tab)
Shepherds Friendly says it was named “Best Over 50s Life Insurance Provider” at the YourMoney.com Personal Finance Awards 2025 for the second year running. Entries for those awards are shortlisted on price and product structure, then assessed for service quality by a panel of readers. It also won “Best Claims Support” at the ILP Moneyfacts Awards 2023 and “Outstanding Claims Management Team” at the COVER Customer Care awards 2022.
It’s worth reading some recent reviews as well as the headline scores.
What does Shepherds Friendly life insurance cover?
Shepherds Friendly’s own life policy is its Over 50s Life Insurance plan, which pays a fixed cash lump sum to your estate when you pass away. Because it’s whole of life cover, it stays in place for the rest of your life, and the payout depends on the monthly premium you choose.
Shepherds Friendly says your loved ones can put the lump sum towards funeral costs or unexpected bills. More generally, a life insurance payout could help your family with:
- Funeral costs
- Household bills and everyday living costs
- Outstanding loans and credit cards
- A cash gift or inheritance for the people you love
The plan has no cash-in value at any point before your death. Shepherds Friendly notes that it isn’t a funeral plan and may not cover the full cost of a funeral. Because the payout is fixed, inflation is also likely to reduce its real value over time.
Shepherds Friendly’s other protection policy is Income Protection, which pays a monthly benefit of up to 70% of your pre-tax salary or income if illness or injury stops you working. It also underwrites life insurance sold by partner brands including Best Insurance, Octopus Legacy and Blueberry Life.
Shepherds Friendly life insurance policy options
Shepherds Friendly makes two protection policies under its own name: Over 50s Life Insurance and Income Protection. You can get quotes on its website or buy through a financial adviser, and Shepherds Friendly says you pay the same premium whichever channel you use. It also underwrites life cover sold under partner brands.
-
Over 50sWhole of life cover with guaranteed acceptance that doesn’t ask about your health. You choose a premium of £10 to £50 a month.
-
Income protectionPays a monthly benefit of up to 70% of your pre-tax income if you can’t work because of illness or injury.
-
Life cover (partner brands)Shepherds Friendly underwrites life insurance sold by other brands, including Best Insurance, Octopus Legacy and Blueberry Life.
Over 50s Life Insurance
Over 50s Life Insurance is open to UK and Isle of Man residents aged 50 to 80. Shepherds Friendly guarantees to accept your application within those age limits, and it doesn’t ask about your health. It asks only your age, whether you smoke and the cover you want. The full rules are in the over 50s section below.
Income Protection
Income Protection pays up to 70% of your pre-tax salary or income (or three-year average net profit if self-employed) if illness or injury stops you working. You can apply if you’re aged 16 to 60, employed or self-employed, and registered with a UK medical practice for at least 36 months. Plans run for at least five years and can last until your 70th birthday.
You pick a waiting period (before payments begin) of 1, 4, 8, 13, 26 or 52 weeks. The 1-week wait isn’t available with Level Guaranteed premiums, and the one-year limited benefit option allows waiting periods up to 13 weeks. Direct plans let you claim for one or two years per claim, while advisers also offer long-term cover that pays until retirement.
Benefit is paid if you’re totally unable to perform all essential duties of your own job, and you can claim more than once during the policy. Shepherds Friendly says cover starts from a £5 monthly minimum premium. You can choose Age-Costed Reviewable premiums (which rise with age and can be reviewed) or fixed Level Guaranteed premiums.
Yearly benefit is capped at 70% of income: up to £33,600 on the direct and Simplified Application plans, £36,000 on Level Guaranteed plans and £49,000 on Age-Costed Reviewable plans. The direct plan uses moratorium underwriting, so pre-existing conditions can be covered if you’ve had no symptoms or treatment in the past three years. Shepherds Friendly says you can get insured in 10 minutes through the automated application on its website.
On the Simplified Application plan, a condition you had in the three years before applying is excluded at first. The exclusion lasts until you’ve been clear of it (no symptoms, consultations or treatment) for two years from the plan start. If you apply through an adviser with a full health and lifestyle application, you can ask to remove medical exclusions later. You need the plan to have run for 12 months and to have been symptom-free for 12 months. Advisers can also offer Simply Income Protection, a short-term plan whose premiums aren’t loaded for any reason, including occupation and smoking.
Income Protection doesn’t cover redundancy, dismissal or maternity leave. Its exclusions include, for example, illness or injury caused by war, invasion, hostilities, cosmetic surgery for non-medical reasons, or a dangerous activity without the correct equipment or training. If you become unemployed, you’re only entitled to House Persons Benefit for up to 12 months. It’s capped at £1,400 a month in the Simplified Application key features and £1,500 in the other May 2026 key features.
Life insurance through partner brands
Shepherds Friendly underwrites life insurance sold through third-party arrangements. Best Insurance arranges and administers level and decreasing term life cover, with terminal illness cover included as standard. Shepherds Friendly underwrites the policies and manages all claims.
Octopus Legacy says The Shepherds Friendly Society Limited is the insurer and risk carrier for its life policies. Blueberry Life uses Shepherds Friendly to underwrite its specialised term life cover for people living with diabetes and other chronic conditions. It also announced a partnership with Shepherds Friendly to launch an upgraded policy for people with Type 2 diabetes.
Its 2025 annual report says it collaborated on a new direct-to-consumer level term life insurance product that year. It also reports strong results from a group life collaboration introduced in 2024. The report doesn’t name the partners.
Shepherds Friendly policies at a glance
The main limits of the two products Shepherds Friendly sells under its own name.
| Limit | Over 50s Life Insurance | Income Protection |
|---|---|---|
| Age when you apply | 50–80 | 16–60 |
| How long it lasts | Whole of life | At least 5 years, up to age 70 |
| Monthly premium you choose | £10–£50 | From £5 minimum |
| Premiums | Guaranteed never to rise | Age-Costed Reviewable or Level Guaranteed |
| Your health | Not asked about | Full application or moratorium underwriting |
| What it pays | Fixed lump sum on death | Monthly benefit, up to 70% of income |
| Cash-in value | None | None |
| Defaqto rating | 5 stars | 5 stars |
Limits from Shepherds Friendly product information, checked 25 September 2026.
What affects the cost of Shepherds Friendly life insurance?
You choose what to pay for the Over 50s plan, within Shepherds Friendly’s limits, and the payout depends on it. The plan doesn’t ask about your health, and Shepherds Friendly says the application only asks for:
- Your age
- Whether you smoke
- The level of cover you want
Shepherds Friendly lets you choose a monthly premium between £10 and £50, and a higher premium buys a larger lump sum. Your premium is guaranteed never to rise, and you can hold more than one Over 50s plan if your combined payments stay within £50 a month. You stop paying after 30 years or at age 90, whichever comes first.
In Shepherds Friendly’s published example (correct as of 2 September 2026), a 65-year-old non-smoker paying £23 a month would get a £5,025 payout. On those figures, if you were still paying after about 219 monthly payments (just over 18 years), you’d have paid in more than the payout. Shepherds Friendly warns that, depending on how long you live, total premiums may be more than the payout. Its fair value assessment says an average policyholder who keeps paying beyond age 85 is likely to pay more in premiums than the benefit.
Shepherds Friendly says you pay the same premium whichever channel you buy through, even though some channels receive different distribution costs. On its direct Income Protection plan, it says it doesn’t increase your premium because of your lifestyle or health conditions.
In general, the cost of life cover depends on your age, your health and whether you smoke, and on how much cover you want and for how long. Comparing quotes from several insurers is the simplest way to see what’s available.
Shepherds Friendly life insurance benefits & extras
Shepherds Friendly includes bereavement support and an optional funeral discount on its Over 50s plan, plus health and family benefits on Income Protection. The Income Protection Enhanced Benefits (the Nuffield Health services, New Child Payment and Bereavement Payment) are discretionary, so Shepherds Friendly can withdraw them with at least six months’ notice.
| Benefit | What it does | Available with |
|---|---|---|
| Funeral Benefit Option | An option to have the lump sum paid to Co-op Funeralcare towards your funeral, with a discount of up to £250. The discount is £250 for a Tailored funeral, £100 for an Essential funeral and £50 for direct cremation or burial. If the funeral costs less than the lump sum, your estate receives the difference. For UK residents only, excluding Northern Ireland. | Available with: Over 50s Life Insurance (optional) |
| National Bereavement Service | Access for your estate to a not-for-profit organisation offering free counselling, guidance and support to the recently bereaved. Paid-for services such as probate and Wills are also available through it. | Available with: Over 50s Life Insurance |
| Nuffield Health Virtual GP | Unlimited video or phone GP appointments, available 24 hours a day, 365 days a year, at no additional cost. | Available with: Income Protection |
| Nuffield Health gym discount | 20% off monthly ‘Anytime’ membership at selected Nuffield Health clubs. | Available with: Income Protection |
| New Child Payment | £250 paid into a Shepherds Friendly Junior ISA on the birth or adoption of a child, for children born or adopted 45 weeks or more after the plan starts. | Available with: Income Protection |
| Bereavement Payment | £6,000 if you die during the plan term. It’s paid to your spouse or civil partner as £1,000 a month for six months, or as a lump sum to your estate if there’s no surviving spouse or civil partner. There’s no extra cost, and Shepherds Friendly says it isn’t a substitute for life insurance. | Available with: Income Protection |
| Waiver of premium | Once a claim is accepted, premiums aren’t collected from four weeks after the waiting period ends until the claim ends. | Available with: Income Protection |
| Working Person’s Benefit | Tops up your income if you return to work on restricted duties. | Available with: Income Protection (listed on the adviser site) |
Income Protection also has these options:
| Optional extra | What it does |
|---|---|
| Indexation | Chosen at the start of the plan, it makes your benefit and premium rise each year in line with the Retail Price Index (RPI). Shepherds Friendly says it’s offered on plans bought through an intermediary. |
| Guaranteed Insurability Option | Increase your benefit after life events such as a mortgage increase, marriage, the birth of a child or divorce, without completing another full health application. |
| Career Break | Apply to suspend your cover and premiums for between three and 24 months. |
Shepherds Friendly over 50s life insurance
Shepherds Friendly’s Over 50s Life Insurance is whole of life cover with guaranteed acceptance for UK and Isle of Man residents aged 50 to 80. It doesn’t ask about your health, and it pays a fixed lump sum to your estate when you pass away.
Shepherds Friendly lets you pay £10 to £50 a month by Direct Debit, and a higher payment gives a larger lump sum. Your premium is guaranteed never to rise, and Shepherds Friendly says your cover won’t be cut if your health changes. Payments stop after 30 years or at age 90, whichever comes first.
During the first two years, the lump sum is paid only if you die as a result of an accident (with your payments up to date). If you die of natural causes or a medical condition in the first two years, Shepherds Friendly instead refunds 150% of the premiums you’ve paid. Self-inflicted injury, flying other than as a fare-paying passenger and other exclusions listed in the terms don’t count as accidents.
- Age to apply
- 50–80
- Your health
- Not asked about
- Monthly premium you choose
- £10–£50 across all your plans
- Premiums stop
- After 30 years, or at age 90
- Full cover
- After two years; accidental death from the start
- Death from natural causes or a medical condition in first two years
- 150% of premiums paid back
- Cash-in value
- None
- Defaqto
- 5 stars
- Fairer Finance
- 3 stars
- The payout is fixed, so its value is likely to fall over time because of inflation.
- Depending on how long you live, the total premiums you pay may be more than the payout.
- It isn’t a funeral plan, and it may not cover the full cost of a funeral.
- The plan is cancelled when a third monthly premium in a row isn’t paid, after a reminder letter giving you time to pay. The lump sum is then no longer payable and premiums aren’t refunded. The older December 2021 plan summary says cover ends after two missed months in a row.
- If medical records show your smoking declaration was wrong or you didn’t disclose later nicotine use, the payout is cut to the smoker rate from when you applied.
- The 2026 terms let you reduce your premium at any time, down to £10 a month, with the payout reduced to match. The FAQs say this applies on some plans, so check with Member Services.
- You can keep the plan if you move abroad, as long as you still have an active UK bank account.
Shepherds Friendly says the plan’s preferred target market is non-smokers and people aged 60 to 70, paying around £20 to £30 a month. It adds that the plan isn’t suitable for people who already have adequate insurance elsewhere.
Compare other insurers’ over 50s plans in our guides to over 50s life insurance, guaranteed life insurance and over 60s life insurance.
Writing a Shepherds Friendly policy in trust
You can direct your Over 50s lump sum to one or more named people or a registered charity under the Friendly Societies Act. Where your total sum assured is £5,000 or less, you can do this with a nomination form, which you can fill in or change at any time. Where it’s over £5,000, a nomination can’t be used and you must set up a trust using a trust form.
Shepherds Friendly’s plan summary says that if the plan isn’t written in trust, it forms part of your estate and may be subject to Inheritance Tax. Based on Shepherds Friendly’s understanding of HMRC guidelines, money paid from the plan to your estate is free of Capital Gains Tax and Income Tax.
Putting life insurance in trust is a legal arrangement, so it’s worth getting independent advice if you’re not sure it’s right for you.
Read how trusts work, and what other insurers offer, in our guide to life insurance in trust.
Shepherds Friendly free gift offers
Note: Free gifts are offered by select brokers only, our life insurance brokers do not offer free gifts.
Shepherds Friendly sends new Over 50s Life Insurance customers a £125 Love2shop voucher code by email once their sixth monthly payment is confirmed. The £125 amount is the same for any monthly premium from £10 to £50, and can be spent online at retailers including Amazon, Marks & Spencer, John Lewis and iTunes.
You won’t get a voucher if you cancel or stop paying before your sixth premium. Plans opened through an IFA, another adviser or a cashback site don’t qualify, and neither does anyone who receives an incentive from a third party. If you open more than one Over 50s plan, only the first one qualifies.
You need to provide a valid email address when you apply, and Love2shop e-Gift Cards expire after six months. Vouchers aren’t offered on new Income Protection applications.
Offer details checked 25 September 2026.
See other insurers’ offers and their conditions in our guides to life insurance with a free gift and over 50 life insurance with a free gift.
Does Shepherds Friendly pay out?
Shepherds Friendly says it has paid 100% of Over 50s Life Insurance claims (without stating a time period) and paid 96% of Income Protection claims in 2024. The headline figures:
- Over 50s claims paid (period not stated)
- 100%
- Income protection claims paid, 2024
- 96%
- Fully underwritten income protection, 2024
- 97%
- Simplified application income protection, 2024
- 95.4%
Sources: Shepherds Friendly’s published product guides, income protection claims announcements and 2025 annual report.
In the claims updates it has published, Shepherds Friendly’s yearly Income Protection rate has stayed between 95% and 96.26%. It accepted 96% of claims in 2017. It paid 95.8% in 2018, 96.26% in 2019, 95% in 2021 (95.2% in its 2022 update), 96.2% in 2022 and 96% in 2024. Its 2024 announcement calls 96% a slight increase on its five-year average of 95%, and compares it with an industry average of 80%, citing ABI figures.
Musculoskeletal conditions were the most common reason for 2024 Income Protection claims, making up 55.8% of new claims decided and 54.6% of total payouts. By value paid, mental health (11.5%) and cancer (9.9%) came next. Its 2018 and 2021 updates listed non-disclosure at application and not meeting policy terms as reasons for declined claims, plus non-payment of premiums in 2018.
Across all its insurance contracts (not only life insurance), the society paid £8,903,000 in gross claims in 2025, up from £5,551,000 in 2024, with reinsurers covering £3,872,000. Shepherds Friendly says external pressures increased the amounts paid out in Income Protection claims during the year.
Answering every question fully and honestly when you apply helps make sure your policy pays out when it’s needed.
How to make a Shepherds Friendly life insurance claim
To start an Over 50s claim after a bereavement, the estate should call Shepherds Friendly’s Member Services team on 0800 526 249 as soon as possible. Your family can also fill in the online claim form and send supporting documents, or register and manage a claim through the Shepherds Friendly Bereavement Claim Portal.
Shepherds Friendly needs a copy of the death certificate, plus proof of the cause of death if the death happens within two years of the plan’s start date. Next of kin can claim from day one of the plan, though the full lump sum is restricted in the first two years.
For Income Protection claims, call 0161 495 6434, where Shepherds Friendly says its claims handlers average 10 or more years’ experience. You must tell Shepherds Friendly at least 14 days before your first expected payment. Late claims aren’t backdated to the start of your illness (unless you were in hospital or physically unable to claim) and can be restricted or declined.
You can self-certify for the first seven days of a waiting period, and Shepherds Friendly says it decides most claims within 48 hours of receiving your completed form and documents. Accepted claims are paid on the 5th or 20th of the month, and in certain cases Shepherds Friendly may fund rehabilitation treatment to help you return to work.
- Member Services (including Over 50s claims)
- 0800 526 249
- Opening hours
- Mon–Thu 8am–6pm, Fri 8am–4pm
- Member Services email
- members@shepherdsfriendly.co.uk
- Make an Over 50s claim online
- shepherdsfriendly.co.uk (opens in a new tab)
- Income protection claims
- 0161 495 6434 (Mon–Thu 9am–5pm, Fri 9am–4pm)
- Income protection claims email
- claims@shepherdsfriendly.co.uk
- Post
- Shepherds Friendly, Haw Bank House, High Street, Cheadle, Cheshire, SK8 1AL
- Calls from Member Services may come from
- 0161 428 1212
Key policy terms
Your Over 50s Life Insurance terms and conditions and your plan illustration together make up your legal contract with The Shepherds Friendly Society Limited. The main rules for its Over 50s and Income Protection plans:
| Term | Shepherds Friendly policies |
|---|---|
| Cooling-off period | 30 days from receiving your plan documents, with a refund of premiums paid. Income Protection also has 30 days, unless benefits have been paid |
| Cancelling later | Over 50s: no refund of premiums after the first 30 days |
| Missed premiums | Over 50s: cancelled when a third monthly premium in a row isn’t paid, after a reminder letter, with no refund. Income Protection ends automatically on a third missed premium in a row |
| First two years | Over 50s pays the lump sum only for accidental death; for death from natural causes or a medical condition, 150% of premiums paid |
| Self-inflicted injury | Over 50s: doesn’t count as an accident, so the lump sum isn’t paid for it in the first two years. The income protection Bereavement Payment may not be paid for suicide within 12 months of the plan start |
| Smoker status | Over 50s payout cut to the smoker rate if your smoking declaration was wrong or you didn’t disclose later tobacco or nicotine use |
| Your health | Not asked about on Over 50s: the plan isn’t medically underwritten and asks only your age, whether you smoke and the cover you want |
| Moving abroad | You can keep an Over 50s plan if you still have an active UK bank account |
| Tax | Over 50s payouts to your estate are free of Capital Gains Tax and Income Tax, based on Shepherds Friendly’s understanding of HMRC guidelines, but may be subject to Inheritance Tax. Income Protection benefits are normally free of Income Tax and Capital Gains Tax for UK residents |
| Write in trust | Nomination form for a total sum assured of £5,000 or less; a trust form above that |
| Cash-in value | None on Over 50s or Income Protection |
| FSCS protection | Shepherds Friendly says it’s covered by the FSCS. Its Income Protection key features say the scheme covers 100% of a claim, with no upper limit, for long-term insurance plans |
| Complaints | Email complaints@shepherdsfriendly.co.uk. Shepherds Friendly aims to complete its investigation within eight weeks |
Is Shepherds Friendly life insurance good?
Shepherds Friendly’s Over 50s plan is guaranteed-acceptance whole of life cover for people aged 50 to 80, and it doesn’t ask about your health. You choose a premium of £10 to £50 a month, which never rises and stops after 30 years or at age 90. Defaqto rates the plan 5 stars, and Shepherds Friendly says it has paid 100% of Over 50s claims, without stating a period.
The main trade-off is the first two years: a death from natural causes or a medical condition then pays back 150% of premiums instead of the lump sum. The payout is fixed, so inflation is likely to reduce its value. Depending on how long you live, you may pay in more than the policy pays out. In Shepherds Friendly’s own example for a 65-year-old non-smoker, that happens after just over 18 years. Fairer Finance gives the plan 3 stars.
Under its own name, Shepherds Friendly sells Over 50s Life Insurance and Income Protection, while underwriting life cover for partner brands including Best Insurance, Octopus Legacy and Blueberry Life.
The right insurer for you depends on your needs and the price you’re offered, so it’s worth comparing Shepherds Friendly with other insurers’ over 50s life insurance.
Pros
- Guaranteed acceptance for ages 50 to 80, and the plan doesn’t ask about your health
- Premiums guaranteed never to rise, and they stop after 30 years or at age 90
- Over 50s Life Plan and the Age Costed Reviewable and Guaranteed Level income protection rated 5 stars by Defaqto
- Optional Funeral Benefit Option with up to £250 off a Co-op Funeralcare funeral, plus access to the National Bereavement Service
- Member-owned mutual with no shareholders
- Income protection claims rates of 95% to 96.26% in its announcements for 2017, 2018, 2019, 2021, 2022 and 2024
- £125 Love2shop voucher for new Over 50s customers after their sixth payment; conditions apply, and plans opened through an adviser or a cashback site don’t qualify
Cons
- Its own protection range is limited to Over 50s Life Insurance and Income Protection
- Full payout for non-accidental deaths only after two years; before that, deaths from natural causes or a medical condition get 150% of premiums back
- Shepherds Friendly caps total premiums at £50 a month across all your plans, and the payout depends on the premium
- Fixed payout is likely to lose value to inflation, and you may pay in more than is paid out
- No cash-in value, and no refund if you cancel after 30 days
- The 100% Over 50s claims figure has no stated period
- Fairer Finance rates the Over 50s plan 3 stars
- Trustpilot notes Shepherds Friendly hasn’t invited customers to review recently, and 17% of reviews there are 1-star
Shepherds Friendly life insurance policy documents
Before you take out a plan, it’s worth reading the terms and conditions or key features for the exact product you’re offered. These official Shepherds Friendly documents are a good place to start. Shepherds Friendly sends the full Income Protection terms and conditions before the plan starts; to see them before you apply, you need to contact it.
-
Over 50s Life Insurance terms and conditions (opens in a new tab)
The full terms of the Over 50s plan (O50.2026.03.TC), including the first-two-years rules, the Funeral Benefit Option and nominations.
-
Over 50s Life Insurance plan summary (opens in a new tab)
A summary of the Over 50s plan from December 2021 (O50.2021.12.PS). It differs from the 2026 terms in places, for example on missed premiums.
-
Income Protection key features (May 2026) (opens in a new tab)
Eligibility, benefit limits, waiting periods, premium types and options (IP.2026.05.KF).
-
Income Protection (Simplified Application) key features (opens in a new tab)
The simplified application plan, including the pre-existing conditions exclusion (SIP.2026.05.KF).
-
Income Protection Insurance key features (2024) (opens in a new tab)
The key features document linked from the direct Income Protection page (IPI.2024.02.KF).
-
Income Protection Enhanced Benefits guide (opens in a new tab)
The Nuffield Health benefits, New Child Payment and Bereavement Payment, and their terms.
-
Product oversight and fair value assessment (opens in a new tab)
Shepherds Friendly’s fair value summary for distributors, covering Over 50s Life Insurance and Income Protection.
Documents are published by Shepherds Friendly and open on its website. Shepherds Friendly may update them — the version you receive with your plan is the one that applies.
Shepherds Friendly life insurance FAQs
You can apply for Shepherds Friendly’s Over 50s Life Insurance between the ages of 50 and 80 if you live in the UK or the Isle of Man. Your cover lasts until you die, and you stop paying premiums after 30 years or at age 90, whichever comes first.
Shepherds Friendly says it has paid 100% of Over 50s Life Insurance claims (without stating a period) and 96% of Income Protection claims in 2024. If you die of natural causes or a medical condition in the first two years of the Over 50s plan, it pays back 150% of the premiums paid; an accidental death pays the full lump sum.
When you apply for cover you will be asked questions about your health and lifestyle, and based on this and the amount of cover requested, the insurer will decide if a medical is required or not.
Shepherds Friendly’s Over 50s Life Insurance isn’t medically underwritten and doesn’t ask about your health. Acceptance is guaranteed for ages 50 to 80, and the application asks only your age, whether you smoke and the level of cover you want.
Shepherds Friendly lets you choose a fixed monthly premium from £10 to £50, which is guaranteed never to rise. A higher monthly payment buys a larger lump sum. In Shepherds Friendly’s published example (correct as of 2 September 2026), a 65-year-old non-smoker paying £23 a month would get a £5,025 payout.
Yes. If your total sum assured is £5,000 or less, you can use a nomination form to direct the payout to named people or a registered charity. Above £5,000, a trust must be set up using a trust form; otherwise the plan forms part of your estate and may be subject to Inheritance Tax.
Not under its own name. Its own protection products are Over 50s Life Insurance and Income Protection. It underwrites life insurance sold by partner brands, including Best Insurance (level or decreasing term cover), Octopus Legacy and Blueberry Life.
It’s an option on the Over 50s plan that lets you have your lump sum paid to Co-op Funeralcare towards your funeral. Co-op Funeralcare gives a discount of £250 for a Tailored funeral, £100 for an Essential funeral and £50 for direct cremation or burial. Your estate gets the difference if the funeral costs less, and it’s for UK residents outside Northern Ireland.
Yes. If you cancel within 30 days of receiving your plan documents, you get a full refund of the premiums you’ve paid. After 30 days you won’t get any premiums back and the plan has no cash-in value. Shepherds Friendly also cancels the policy if three monthly premiums in a row are missed and remain unpaid after a reminder letter.
Shepherds Friendly is a mutual owned by its members (its policyholders), with no shareholders. It’s a trading name of The Shepherds Friendly Society Limited (friendly society no. 240F), authorised by the PRA and regulated by the FCA and PRA under firm reference number 109997.
Yes. New Over 50s customers get a £125 Love2shop voucher code by email after making their sixth monthly payment. Plans opened through an adviser or a cashback site don’t qualify, and vouchers aren’t offered on new Income Protection applications.
Sources
The facts on this page come from these sources.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Annual Report and Financial Statements, year ended 31 December 2025 (166,000 in-force policies; planned transfer of Foresters Friendly Society UK insurance business; subsidiaries; claims paid) (opens in a new tab), storage.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — We're moving to new offices! – move to Haw Bank House, High Street, Cheadle (news, 19 November 2015) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Geograph Britain and Ireland — Geograph – photo 6022962 "Office space to let" by Bob Harvey: Haw Bank House, Cheadle (description of the building) (opens in a new tab), geograph.org.uk, accessed 25 September 2026.
- Wikimedia Commons — Wikimedia Commons – File:Office space to let (geograph 6022962).jpg (Hawbank House, High Street, Cheadle; Bob Harvey, CC BY-SA 2.0) (opens in a new tab), commons.wikimedia.org, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — About Shepherds Friendly (founded Christmas Day 1826, member-owned mutual) with site legal and regulatory footer (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Solvency and Financial Condition Report, year ended 31 December 2025 (business description, membership 166,000, solvency ratio 171%) (opens in a new tab), storage.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Product oversight, governance and fair value assessment for Over 50s and Income Protection (summary for distributors) (opens in a new tab), shepherdsfriendly.blob.core.windows.net, accessed 25 September 2026.
- Best Insurance — Best Insurance Life Insurance key features – "underwritten by the Insurer, Shepherds Friendly" (partner brand, term life) (opens in a new tab), bestinsurance.co.uk, accessed 25 September 2026.
- Octopus Legacy — Octopus Legacy online application start page – "Insurance policies are underwritten by The Shepherds Friendly Society Limited" (partner brand) (opens in a new tab), octopuslegacy.com, accessed 25 September 2026.
- Blueberry Life — Blueberry Life homepage – "Blueberry Life policies are underwritten by Shepherds Friendly" (partner brand, term life for people with diabetes) (opens in a new tab), blueberrylife.com, accessed 25 September 2026.
- Shepherds Friendly — Over 50s Life Insurance terms and conditions (O50.2026.03.TC) (opens in a new tab), storage.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Over 50s Life Insurance product page (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Defaqto — Defaqto Star Ratings (Life & Protection) for Shepherds Friendly (opens in a new tab), defaqto.com, accessed 24 September 2026.
- Trustpilot — Trustpilot – Shepherds Friendly (company-wide, all products): TrustScore 4.1, 972 reviews (opens in a new tab), uk.trustpilot.com, accessed 25 September 2026.
- Shepherds Friendly — Is Over 50s Life Insurance worth it? (guide page) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Claims statistics: Shepherds Friendly paid 96% of income protection claims in 2024 (news, 17 June 2025) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Love2shop voucher terms and conditions (Over 50s £125 offer) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Press Centre – media contacts and "About us" boilerplate (founded 1826, based in Greater Manchester) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — The history of friendly societies – how Shepherds Friendly began as Ashton Unity (1826) and became the Loyal Order of Ancient Shepherds (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — 200 years together: celebrating our bicentennial with you (news, 26 February 2026) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Financial Conduct Authority — FCA Financial Services Register – The Shepherds Friendly Society Limited, firm reference number 109997 (authorised since 01/12/2001; mutual society number 240F; requirement effective 04 Apr 2025) (opens in a new tab), register.fca.org.uk, accessed 25 September 2026.
- Wikipedia — Wikipedia – Shepherds Friendly Society (history and background only; revision 1358953767) (opens in a new tab), en.wikipedia.org, accessed 25 September 2026.
- Financial Conduct Authority (Mutuals Public Register) — FCA Mutuals Public Register – The Shepherds Friendly Society Limited, registration number 240F (registered 22 July 1868; transfers of engagements 1988; name change 1994) (opens in a new tab), mutuals.fca.org.uk, accessed 25 September 2026.
- Shepherds Friendly — Shepherds Friendly partners with Co-operative Funeralcare (news, 16 December 2021) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- REVIEWS.io — REVIEWS.io – Shepherds Friendly company reviews: 4.6 rating, 2,990 reviews, 93% of reviewers recommend (opens in a new tab), reviews.co.uk, accessed 25 September 2026.
- Smart Money People — Smart Money People – Shepherds Friendly company reviews (all products): 4.69/5, 1,471 product reviews (opens in a new tab), smartmoneypeople.com, accessed 25 September 2026.
- Smart Money People — Smart Money People – Shepherds Friendly Life insurance (over 50s) product reviews: 4.77, 111 reviews, last reviewed 26 Aug 2024 (opens in a new tab), smartmoneypeople.com, accessed 25 September 2026.
- Smart Money People — Smart Money People – Shepherds Friendly Income Protection product reviews: 4.13, 24 reviews, last reviewed 24 Jan 2023 (opens in a new tab), smartmoneypeople.com, accessed 25 September 2026.
- Fairer Finance — Fairer Finance – over 50s life insurance product ratings: Shepherds Friendly Society Over 50s Life Insurance, 3 stars (opens in a new tab), fairerfinance.com, accessed 25 September 2026.
- Shepherds Friendly — Over 50s Life Insurance FAQs (Insurance Plans FAQs) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Shepherds Friendly Celebrates Another Year as Best Over 50s Life Insurance Provider (YourMoney.com Personal Finance Awards 2025; news, 26 March 2025) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Awards and recognition (incl. ILP Moneyfacts Best Claims Support 2023, COVER Outstanding Claims Management Team 2022, Defaqto Expert Ratings 2026) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Income Protection Insurance product page (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Over 50s Life Insurance page for advisers (Intermediary Hub) (opens in a new tab), intermediary.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Income Protection page for advisers (Intermediary Hub) (opens in a new tab), intermediary.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Income Protection key features document (IP.2026.05.KF) (opens in a new tab), storage.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Income Protection FAQs (Protection Plans FAQs) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Income Protection (Simplified Application) key features document (SIP.2026.05.KF) (opens in a new tab), storage.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Simply Income Protection page for advisers (Intermediary Hub) (opens in a new tab), intermediary.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Income Protection Enhanced Benefits guide and terms (2026.04.EIPB) (opens in a new tab), storage.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly — Over 50s Life Insurance plan summary (O50.2021.12.PS) (opens in a new tab), storage.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Shepherds Friendly protection plans explained (adviser news, 9 October 2025): 100% of Over 50s Life Insurance claims paid; 96% of Income Protection claims paid in 2024 (opens in a new tab), intermediary.shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Claims statistics: Shepherds Friendly pays 96.2% of Income Protection claims in 2022 (95.2% in 2021; news, 30 March 2023) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Claims statistics: Shepherds Friendly Accepted 96% of 2017 Income Protection Claims (news, 9 March 2018) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Claims statistics: Shepherds Friendly pays 95.8% of claims in 2018, decline reasons (news, 4 February 2019) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Claims statistics: Shepherds Friendly Pays 96.26% of Income Protection Claims in 2019 (news, 27 February 2020) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Claims statistics: Shepherds Friendly pays 95% of Income Protection claims in 2021, £2.5 million paid, decline reasons (news, 8 April 2022) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Help & Support – Contact Us: member services phone and hours, bereavement claim portal, over 50s and income protection claims, complaints (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Our Claims Promise – income protection claims (claims team phone, hours, email, timescales) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
- Shepherds Friendly (The Shepherds Friendly Society Limited) — Our claims process – income protection (documents needed, late notification warning) (opens in a new tab), shepherdsfriendly.co.uk, accessed 25 September 2026.
Related pages
-
Best life insurance
What to compare when you choose a policy.
-
Whole of life insurance
Lifelong cover and how it differs from term cover.
-
Over 50s life insurance
Guaranteed acceptance for ages 50–85, and what to check before you buy.
-
Income protection
A monthly payment if you can’t work due to accident or illness.
-
Life insurance in trust
How a trust works and how it can affect the payout.
