The Railway Friendly Society has been working exclusively in support of railway families for just over 100 years. We are a mutual society and we have no shareholders. You automatically become a member of the Society when you purchase one of our Family Protection Plans. Everything we do is for your benefit.
Family Protection Plans from the Railway Friendly Society - who are they for?
Our low cost Family Protection Plan has been specifically designed to provide support for railway people. Our plan helps people in the railway community through difficult times when they have been affected by illness, accident or bereavement.
What do the plans provide?
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Effective family protection at a low cost from just £2.80 per week
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A regular income in the event of illness or accident preventing you from working
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A lump sum payment if you have to stop working permanently and are ill health retired
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In the case of bereavement, your partner will receive a lump sum payment from the plans life cover
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If you have any children, additional regular payments will be made every 4 weeks until the children reach the age of 16
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Our plans help ensure that your family members can maintain their standard of living if you are not there to provide for them
What are the benefit options?
Choose either the standard plan or the double benefit plan. The income benefit you receive will depend on the plan you select and how much sick pay you get from your employer.
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STANDARD PLAN |
DOUBLE BENEFIT PLAN |
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Accident or sickness |
£50 per week |
£100 per week |
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Permanently unable to work and ill health retired |
£5200 |
£10400 |
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Death benefit |
£5200 |
£10400 |
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Children’s benefit* ( 1 child) |
£270 per 4 weeks |
£270 per 4 weeks |
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Children’s benefit* (2 children) |
£360 per 4 weeks |
£360 per 4 weeks |
* Children’s benefits are available for up to 6 children (£720 per 4 weeks)
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Benefits are paid after you have been unable to work for 13 weeks
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We pay you every 4 weeks
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Sickness benefit payments are tax-free under current legislation
How do I apply for the plan?
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Call 0800 0 324 326 and we will send you an information pack and application form
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Please complete and return the application form
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We will send you a quotation, subject to satisfactory underwriting and an invitation to join the Society
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You can pay by regular subscription via your payroll or by standing order
How long will I receive payments for?
Payments will continue for as long as you are a member of the Society and unable to do your job or one to which you are suited. If you leave railway employment for any reason including sickness, you will cease being a member of the Society and benefits will also stop. As you would expect, there are certain other conditions to protect the financial security of the Society, such as not paying for normal childbirth, or, for example intentional self-injury. The Railway Friendly Society reserves the right to reduce or remove payments after 3 years if necessary to protect the financial security of the Society. Full details are given in the Policy Document.
How long does the plan last?
The plan lasts up to age 65 as long as you remain a railway employee and continue to pay your subscriptions.
Can I apply for a plan?
Yes, if you are between the ages of 16 and 44, employed on the railways and are not a British Transport Police Officer (The Police have their own friendly society).
Will my subscriptions go up or my cover go down in the future?
Your cover will not go down in future. The amount you pay is always based on the age you joined. Once a member, subscriptions will not go up because you get older or because your health changes. Subscriptions for all plan members may be changed up or down in line with past or expected experience.
How do you collect the subscriptions?
Subscriptions will normally be conveniently collected by your employer through payroll deduction, where facilities exist. Otherwise you can pay by Standing Order.
Will I need a medical examination?
Our aim is to keep our underwriting of applications as fair and straightforward as possible.
Based on the information you give us in your application form, in some cases we may need to contact your GP for more information. It is only in exceptional cases that we may require you to undergo a medical examination.
What happens if I need to claim?
It is easy to make a claim – just call the free helpline 0800 0 324 326 and we will guide you through the process. Any telephone calls to and from the Railway Friendly Society may be recorded by us.
Are the payments tax-free?
Yes. The benefit payments are tax-free under current legislation.
What happens if I do not claim – does the plan have a cash value?
No. The plan is designed to provide the best possible level of cover at low cost and is not a savings plan. No sum is payable if you do not claim during the period of the plan.
What happens if I change my mind?
After your application is accepted you will receive a cancellation notice. You will have up to 14 days from receipt of this notice in which you can change your mind and receive a full refund of any subscriptions paid.
What is a Friendly Society?
Friendly Societies have existed in the U.K. for over 150 years. Originally formed to counter the social or economic injustices that resulted from the Industrial Revolution, their priorities were to find practical solutions for basic problems such as hunger, housing, sickness and burials. All Friendly Societies were founded on a strong sense of community identity and values. They were non-profit making because everything they did was for the benefit of their members.
Friendly societies are not answerable to shareholders and profits are reinvested for the benefit of members. They are so different from conventional financial companies that the Government allows them special tax treatment. This means that members benefit from their tax advantages too. The products of the Railway Friendly Society are sold only within the railway community. They are researched and tailored to provide for the specific needs of rail employees.
Friendly society products offer affordable and often unique ways to provide benefits.