Announcing the new product as part of the publication of its annual report, the friendly society’s director of sales and marketing said the new product will be called My Earnings Insurance.
A spokesman for Cirencester Friendly said they could not provide any further details, but advisers should expect to see a June or July launch.
In its annual report, Cirencester announced an increase in annual premium income resulting in maintained or increased bonuses paid to its members. The total value of the its assets have increased by just over 9 per cent to £68.5m.
Mr Bridge said: “We are not complacent. Many challenges lie ahead, but we will continue to work hard for our members and our supporting intermediaries to deliver good products and service.”
Trystan Lewis, founder of the Chester-based Griffin Wealth Management, said: “This product might not be anything new, but sounds like Cirencester is trying to brand it in a way that the general public can understand it easily and relate to it, in contrast to some of the jargon-ridden products available. If you explain things differently, people might have a better idea of the benefits of the product.”