Family Income Benefit

This type of policy is a type of term life insurance that will give you regular financial support to the family of the policyholder if they die or if they are diagnosed with a terminal illness.

Family Income Benefit pays out a regular income for the remainder of the policies term rather than a lump sum.

When you take out a family income benefit policy, you stipulate what income you would need your loved ones to receive, and over what time period. The insurer will work out what monthly premium you would need to pay in order to secure that cover.

For example, you would like your family to receive £2,000 a month over 30 years in order to be secure if you were to die. If you die within the first year of the policy, the insurer would pay out that sum for the full 30 years of the policy, but if you die in year 25 you would receive £2,000 a month for the remaining 5 years of the policy.

If you die after the term of the policy has finished, there will be no monthly payout to your family.

This form of insurance is generally the most budget friendly compared to other insurances available on the market.

Family income benefit is best for people whose dependents may suffer financially if the main earner dies. 

We can arrange the policy our qualified affiliated companies.