97 per cent of IP claims were paid out in 2012

The provider’s chief executive said it wrote new premiums in excess of £800,000, and received more than 3000 new protection applications from intermediaries over the same period.

British Friendly launched its first intermediated product in 2011, and registered more than 500 new advisers in 2012.

Mr Myers said: “We have over 100 years’ experience of protecting our members and supporting them to return to work, and our BFS Protect product is available only through IFAs, which demonstrates the value we place on intermediaries.”

Adviser view

Emma Thomson, head of life office relations for London-based protection intermediary LifeSearch, said: “British Friendly has an excellent proposition, offering both long- and short-term cover on an own-occupation basis for all clients, with an efficient underwriting process.

“Sometimes income protection is seen to be expensive and difficult to underwrite, however, British Friendly has shown this does not have to be the case.”