Income protection Insurance Since 1927


Quick Quote

dg mutual offers a transparent and simple approach. If you would like us to contact you to provide an income protection insurance quotation, please fill in the form below.

On receipt of these details, a member of staff will be in touch during working hours (Mon-Fri).

We are not a comparison site, we specialise in income protection insurance for self-employed people.

When you fill in this form your details will not be passed to a third party, our society is committed to you.

Technical Description

The Society


The dg mutual was founded in 1927 based upon the principles of George Holloway which was to provide income protection insurance incorporating a lump sum at retirement, hence the generic term ‘The Holloway Contract’. The Society is owned entirely by its members – all enjoying the benefits of mutuality.


Benefits of Income insurance protection quote from the dg mutual

  • Benefit payable from day 1 or 4, 13, 26 and 52 weeks of illness or injury
  • Retirement ages of 55 or 60
  • No Occupational Premium Loadings
  • No Smoker Premium Loadings
  • Constant or reducing benefit
    (Reducing benefit is available for Day One cover only)
  • Escalating benefit option – payable after 52 weeks of claim. Benefit will escalate by 3% and will continue to increase at that rate for every year the claim is valid
  • Tax free lump sum at end of policy
    (Free from UK personal income tax and capital gains tax under current legislation)
  • Double Bond option – benefit levels are unchanged but additional subscriptions will double the amount of bonus apportionment awarded annually.
Age Limits
Applications can be made between 16 and 50 years of age.
Maximum Benefit Level

Income insurance protection cover is available per £20 bond from £60 per week (£3,120 per annum) to £1,200 per week (£62,400 per annum). The maximum benefit payable is 66% of you gross annual earnings less other continuing income and is based on pre-incapacity earnings.

  • If you are employed their income is their pre-tax earnings for PAYE
  • If you are self employed their income is calculated as their share of pre-tax profits from their business

Income received from state benefits, savings and investments are not taken into account, but continuing income from employment or other health related insurance payments will be.

If you are in receipt of dividend payments as part of your income, these can be included in our maximum benefit payable calculations.
Evidence of Earnings
We will require the following proof of earnings for all applications above £800 per week.

  • Employed Original payslips or most recent P60
  • Self-employed Most recent business accounts or Inland Revenue Return
Occupational Classes
There are no occupational premium loadings. We accept a wide range of occupations; the following is not an exhaustive list so please contact us to confirm whether or not your occupation is acceptable.

Accountant, Administrator, Architect, Barrister, Computer Consultant, Chiropractor, Complementary Therapist, Dentist, Doctor, Engineer, Hygienist, Manager, Nurse, Osteopath, Plumber, Solicitor, Surgeon, Vet

The application form contains medical questions that you must fully complete. All material facts which would affect our decision to accept your or the amount of subscription payable should be disclosed, even if the application form has not asked specific questions about it. So, if you are unsure whether a fact is material or not it must be included on the application form.

In order to make a fair and accurate assessment we will consider your health, occupation, family health history and lifestyle. If, subsequently we find that information which would have affected our decision was not included on the application form, we may reject the application or the policy could become invalid when a claim is made and no benefit would be payable.

We may contact your doctor for a medical report, ask you to attend a medical examination or request for tests to be carried out at our expense. There are also additional questionnaires which we may ask you to complete.

Standard Policy Exclusions
Your will not be entitled to claim, if it is due in any way to:

  • Drug or alcohol misuse
  • Disorderly conduct
  • Wilful self inflicted injury
  • Pregnancy
  • Hazardous pursuits
  • Sterilisation other than on medical grounds
  • Any surgery or treatment not certified to be necessary on health grounds
  • War, invasion, riot or usurped power
  • Flying other than as a fare paying passenger on a recognised air route
  • AIDS or HIV and any related conditions
Pre-existing Medical Condition Exclusions
If there are any pre-existing medical conditions, exclusions may be applied to the policy which means claims relating to that condition will not be paid. Any exclusions applied to the policy will be detailed in the acceptance documents.

Certain exclusions can be reviewed in the future if the policy holder is no longer suffering with that condition and no further medical treatment is required. However, a review does not necessarily mean that the exclusion will be removed. It is your responsibility to contact us if you would like an exclusion reviewed as this does not happen automatically and you may incur the costs for any additional medical reports or examinations required.

Subscription Loadings
It is not always possible to impose exclusions for particular medical conditions and as such a loading may be applied to the subscription.
Hazardous Pursuits
If you undertakes any hazardous pursuits these must be disclosed on the application form with as much supporting information as possible.

Exclusions may be applied; this decision would be based upon the nature of the activity, how often it is pursued, the deferment period requested and whether the applicant has previously had any injuries resulting from the activity. Please note that the following conditions are routinely excluded:-

  • Any form of Diving
  • Private Flying
  • Competitive Horse Riding
  • Competitive Motor Sports
  • Sailing and/or Surfing
  • Martial Arts
  • Mountaineering and/or Rock Climbing

Please be aware that this list is not exhaustive and other pursuits may also be excluded.

Tax Free Cash Sum
A tax free cash sum will be paid at your chosen retirement age. The amount is not guaranteed and depends upon the DG Mutual’s investment performance, administration and claims expenditure during membership. The tax free cash sum is not affected by the number of claims you make.

Each year the DG Mutual makes an allocation of profits in the form of bonus apportionment to members at a rate agreed by the Committee of Management. Under current legislation this is tax free.

To maximise investment returns a Terminal Bonus is paid at the chosen retirement age. A Terminal Bonus is not guaranteed and is not payable if the policy is terminated early.

Annual Statements showing the allocation of bonus apportionment and capital account balance are sent to policy holders.

Investment of Funds
The Society has a fully documented investment strategy to maximize returns within an acceptable level of risk.

Our current practice is to invest funds in:

  • Deposit Accounts
  • Fixed Interest
  • Long dated government stocks
  • Equities – UK and Overseas
Residence/Working Abroad
You must be resident in the UK to be eligible to join. Cover will continue if a member subsequently moves to or works in the European Union.
Subscriptions increase in 5 year age bands and are calculated at your age as at 31st December next.

When you have accepted the terms offered cover will commence on the 1st of the month. Please note start dates cannot be backdated. Subscriptions must be paid in Pound Sterling by either Direct Debit, credit card, cheque or Bankers Draft. Direct Debits are collected on or around the 2nd of each month.

Declined Applications

If an application is declined, this decision will be based upon information received from the applicant and their GP. Unfortunately, the dg mutual may be unable to disclose the reasons for declining an application. However, we can disclose the reasons to your GP, if requested and you may then make arrangements with your GP to view the information that was sent to us.

Change of Circumstances

Income protection from the dg mutual is designed to be flexible. Benefit levels and deferment periods can be amended if your circumstances change. A reduction in deferment periods or an increase to benefit levels will be subject to further underwriting. Increase to benefit levels are allowed up to age 50.

We need to be informed immediately of any changes to the following circumstances as this could result in amended terms or withdrawal of cover.

  • Change of residence
  • Increase or decrease in earnings
  • Change of occupation
  • Any changes to employer sick pay arrangements
  • Unemployment
  • Retirement

If you are unsure as to whether a change may affect an entitlement, please contact us.

Subscriptions need to be paid to maintain cover and entitlement to the annual allocation of profits towards the tax free cash sum. If you becomes 3 months in arrears the policy will lapse and entitlement to benefit will cease.
Under existing legislation, the bonus apportionment, sickness benefit paid during claims (provided the benefit is replacing a loss of income) and the cash sum paid at retirement age will be tax free.
Death Benefit
If your die before the chosen retirement date, the value of the fund will be paid to your next of kin or personal representative without penalty.
Definition of incapacity

In order to claim you must be totally unable to perform the essential duties of your occupation and of any other occupation suited by training, education, or experience, and not be following any other occupation for profit or reward.

Maximum Benefit Level

Income insurance protection cover is available per £20 bond from £60 per week (£3,120 per annum) to £1,200 per week (£62,400 per annum). The maximum benefit payable is 66% of you gross annual earnings less other continuing income and is based on pre-incapacity earnings.

  • If you are employed their income is their pre-tax earnings for PAYE
  • If you are self employed their income is calculated as their share of pre-tax profits from their business 

Income received from state benefits, savings and investments are not taken into account, but continuing income from employment or other health related insurance payments will be.

How to claim

Notify us
If your have day one cover, we need to be notified about the incapacity within 72 hours by telephone, letter, fax, e-mail or via the website. For potential claims under our deferred schemes of 4, 13, 26 or 52 weeks you must notify us when there is the possibility that the duration of the incapacity may exceed the length of the deferment period.
The Claim Form
The claim form must be completed and signed by your medical attendant before returning it to the DG Mutual at the earliest opportunity in order that the assessment process can begin. A claim form can be requested by calling the DG Mutual on 0121 452 1066 or downloaded from our website
How we process the claim

We will consider the nature and length of the claim, whether a member would receive continuing income and from what source, their occupation and ability to practice it. We will require evidence that you are under medical care from a registered medical practitioner and that all recommended investigations and treatments are being carried out. In addition, please note that certified proof of earnings may be required.

Payment of Benefit

A benefit week is six days and payments will continue until recovery subject to progress medical reports and examinations deemed necessary. Benefit is paid in Pound Sterling on a weekly or monthly basis by direct credit or cheque.

Factors that will reduce benefit

Benefit will be reduced if any of the following will take you over the 66% maximum benefit allowed:

  • Earnings or sick pay you may still be receiving
  • Benefit payments you are receiving from protection or sickness plans with other companies
  • Pension payments, unless you received whilst working
Proportionate Benefit

If you are receiving benefit from us as a result of illness or accident and could return to the occupation which they were doing prior to their incapacity on a part time or other reduced capacity basis, they may be eligible to receive proportionate benefit.This is a part payment of sickness benefit from us to assist you.

Linked Claims

If you claims again for the same incapacity within 13 weeks of returning to work then any deferment period will not apply.

Cancellation of the policy

It is important for you to be aware before cancelling that if they wish to restart the policy at a later date they will have to complete a new application form, full medical underwriting will be required and the same terms may not be offered.

If the policy is cancelled before the chosen retirement date there may be a cash sum payable. The length of membership will dictate if you are entitled to this sum and if any forfeiture penalty needs to be applied.

Document Library

Many useful forms and sales aids can be found in the document library including Product Brochure, Key Features, Subscription Rates, Commission Rates, Application Form, Claim Form, Annual Report and Financial Statements.

Money Laundering

Terms will not be offered until a Money Laundering Certificate (which can be downloaded from our website) or suitable proof of identity has been received in support of the application.

Cancellation Rights

After your application has been accepted they will receive a ‘Cancellation Notice’ which confirms they will have 30 days in which they can change their mind.  


In legal disputes, the Law of England and Wales will apply.


If you are unhappy about any aspect of the service from the DG Mutual, you can contact the Chief Executive at our registered address or e-mail us at Copies of our internal complaints handling procedure are available on request. Complaints we cannot settle may be referred to the Financial Ombudsman Service. Making a complaint will not prejudice the right to take legal proceedings.

The Financial Services Compensation Scheme

The DG Mutual is covered by the Financial Services Compensation Scheme (FSCS). Your may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Most insurance contracts are covered for 100% of the first £2000 and 90% of the remainder of the claim. Further information about the compensation scheme is available from the FSCS.

Terms and Conditions

The Society’s Rule Book is available upon request.

The information in this guide is based on the dg mutual’s understanding of current legislation and Inland Revenue practice which may change in the future.

You may find it beneficial if this guide is read in conjunction with the relevant Key Features document. Your personal illustration is supplied in the prescribed format as laid down by the Financial Services Authority. The amount of tax free cash sum on the illustration is an example and will depend on the Society’s investment performance, its administration costs and the level of claims made by the members.

The dg mutual does not give advice. It is important, therefore, that you understand how this policy works and what the risks are before you buy.

dg mutual
No. 4, Park Farm Barns, Chester Road, Stonebridge, Warwickshire, CV7 7TL

Tel: 0121 452 1066    Fax: 0121 452 1077


Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

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