Family Income Benefit
Family Income Benefit differs from other types of life insurance as it provides a regular income for your family in the event of death. A regular income is critical to the future of your family if you are no longer able to provide for them. Instead of a lump sum, Family Income Benefit provides regular set payments (income) for the rest of the term of the contract.
- A Family Income Benefit policy can provide a tax free monthly income for your dependents in the event of your death and it can be one of the least expensive forms of life insurance
- You can opt to include critical illness cover to be paid as a monthly income in the same way
- Many families choose to take out Family Income Benefit alongside other insurance policies; everyday bills will continue to appear on a regular basis and sometimes paying off the mortgage just isn’t enough.
- Did you know, the value of a Mum averages £32,000 per year, L&G 2009 Value of a Mum survey. Therefore it’s not just income earners that need to be protected!
We believe that correct and relevant insurances are the foundation of your financial planning and security and it’s therefore worth spending the time getting it right. Get in touch today for a free, initial no obligation protection review.