Member Benefits

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Member Benefits Leaflet (655.3K, .PDF)

Tell your friends and family about us and earn a £25 reward each... 

By recommending a friend or family member to the Society, both you and your friend would receive a gift card worth £25 after your friend’s policy starts. There’s no limit to the number of friends or family members you can recommend and if they require advice, your friend’s policy can be arranged through a financial adviser. 

Click here for further information

Enhanced sum assured on re-investments...

Sheffield Mutual will offer an enhanced sum assured of 104% on all maturing policies re-invested into our investment bond. (normally 103%)

We are pleased to introduce a new Sheffield Mutual member benefit:

We’ve formed a relationship with National Friendly Financial Solutions to introduce you to extra financial products not available directly through Sheffield Mutual.

National Friendly Financial Solutions is a specialist telephone-based financial services company. They specialise in retirement planning and life insurance and are owned by National Friendly, a fellow mutual that shares our values.

Find out more...

Optical & Dental Benefits... 

We currently offer discretionary grants of up to £30 every two years per member for both optical and dental treatment, once the policy has passed its first anniversary. You’ll need to contact us before you make a claim, as these benefits are discretionary and, therefore, could be withdrawn at any time. Membership benefits are not regulated by the FCA.

How does it work?

You can claim optical and dental benefits based on all policies that have passed the first anniversary and are still in force. 

The minimum benefit is £10 plus an extra £1 for every £20 annual contribution made to policies. The maximum payable is £30.00 for each benefit per member. 

If you hold a single premium plan (ISA or Bond), you simply divide the premiums by 10 to produce an equivilent annual premium.

Annual Premiums (of all your policies over 1 year old) ÷ 20 + 10 = benefit (max £30) 


If you have a policy that you pay £5 per month to. The annual contribution is £60. Therefore £60 ÷ 20 = £3 + £10 (basic) =£13 benefit available. 

If you have a policy that you pay £25 per month to. The annual contribution is £300. Therefore £300 ÷ 20 = £15 + £10 (basic) = £25 benefit available. 

If you have a combination of policies that total monthly contributions of £50. The  annual contribution is £600. Therefore £600 ÷ 20 = £30 + £10 (basic) = £40 However, maximum benefit is £30. 

Dental benefits include check-ups and treatment and optical benefits include sight tests, glasses, contact lenses and prescription sunglasses. We will need to see a copy of your receipt, which should be dated within the last three months.

Don't forget all members can claim including children.

You can claim once every two years for both dental and optical costs. 

How do I claim?

Simply complete the relevant form which you can download below, or you can contact us and we'll post one out. We will need to see a copy of your receipt (which should be dated within the last three months) and we'll do the rest.

Optical & Dental Claim Form (627.7K, .PDF)

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