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How Holloway Friendly income protection works
Holloway Friendly offer income protection that replaces a proportion of your income if you’re unable to work due to illness or injury. What makes their product unique is the built-in savings element, the ‘Holloway plan’.
Founded
1875
Structure
Mutual
Based in
Redditch, Worcs
Unique feature
Savings element
The savings element. What makes Holloway different
The built-in savings element is what sets Holloway Friendly apart from every other income protection provider in the UK market. Here’s what you need to know.
Part of your premium saves, not just insures
Unlike standard income protection where your entire premium pays for cover, the Holloway plan splits your premium. Part covers the insurance, part builds a personal savings pot in your name.
Money back if you don’t claim
If you reach the end of your policy without making a claim, the accumulated savings pot is returned to you. This is a genuinely unique feature, most income protection policies return nothing if you stay healthy.
Savings can supplement claims
During a valid claim, your accumulated savings pot can be used to top up your monthly benefit payments, providing additional financial support at the time you need it most.
Is it right for everyone?
The Holloway plan is a distinctive product but it’s not automatically the best choice for everyone. The savings element means premiums can be higher than a standard income protection policy for the same benefit level. We compare the full cost and value against other providers before making a recommendation.
Holloway Friendly for the self-employed
Holloway Friendly’s income protection is well suited to the self-employed, offering own-occupation definitions and flexible benefit structures. The savings element can be particularly appealing to self-employed individuals who want to feel they’re getting value from their policy even in years when they stay healthy and don’t claim.
If you’re self-employed, a contractor or a freelancer, income protection is arguably your most important financial protection, there’s no employer sick pay to fall back on. Holloway Friendly is one of several specialist providers we compare for self-employed clients, alongside The Exeter, British Friendly and Cirencester Friendly.
A mutual with 150 years of history
Holloway Friendly was founded in 1875 and is based in Redditch, Worcestershire. As a mutual insurer, it is owned by its members rather than external shareholders, meaning profits are reinvested for the benefit of policyholders rather than paid out as dividends.
The ‘Holloway’ name comes from George Holloway, a Victorian-era social reformer and MP who championed the friendly society movement as a way for working people to protect themselves against the financial impact of illness. The Holloway plan carries on that tradition today.
1875
Year founded
Mutual
Member-owned
Redditch
Worcestershire HQ
Why use an independent adviser for Holloway Friendly?
The Holloway plan is a distinctive product, but it’s not automatically the right choice for everyone. The savings element means premiums can be higher than a standard income protection policy for the same benefit level. We compare the full cost and value of Holloway Friendly against The Exeter, British Friendly, Cirencester Friendly, Royal London and LV= before making a recommendation.
Our advice is free of charge at the point of advice. We are paid by commission from the insurer if you proceed, which we will always disclose clearly.
Other specialist income protection providers
We compare Holloway Friendly against all of these and more.
The Exeter Income Protection Explained
Specialist mutual insurer with strong own-occupation income protection for the self-employed.
Royal London Protection Explained
A fellow mutual insurer with strong income protection and the Helping Hand added-value service.
LV= Doctor Services Explained
Another mutual insurer with strong income protection and added-value GP and wellbeing services.
Get Independent Income Protection Advice
Not sure which provider is right for you? Send us an enquiry for an honest view.
Protection advice, available across the UK
That’s Family Finance provides protection advice to families and individuals across England, Scotland, Wales and Northern Ireland. Whether you’re in London, Manchester, Birmingham, Leeds, Bristol, Sheffield, Edinburgh, Cardiff, Glasgow, Essex or anywhere in between, we work with you remotely or in person to find the right cover for your circumstances.
We advise on Holloway Friendly alongside other protection providers, including The Exeter, Royal London, LV=, Legal & General, Aviva and Guardian.
We are not Holloway Friendly.
Want to know if Holloway Friendly is right for you?
Send us an enquiry or reach us on WhatsApp for an honest, no-obligation view.
Not tied to Holloway Friendly
Common questions
Questions we’re asked about Holloway Friendly.
The savings element of the Holloway plan is subject to the terms and conditions of the policy. Always refer to Holloway Friendly’s own policy documentation for full details of how the savings element works, including any charges, conditions and how the fund is managed.
We are not Holloway Friendly. This page contains information about Holloway Friendly’s products based on their published materials at the time of writing. Always refer to Holloway Friendly’s own documentation for the most current details. Holloway Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Talk it through with us
Tell us what you have in mind and we will come back to you, usually the same day. We are open Monday to Saturday, 9am to 8pm.