Family Income Benefit
Family income benefit is a plan designed to pay out a monthly income to your family if you were to pass away.
Family income benefit is a plan designed to pay out a monthly income to your family if you were to pass away.
Contact UsFamily income benefit is a plan designed to pay out a monthly income to your family if you were to pass away or be diagnosed with a terminal illness with a life expectancy of less than 12 months.
This type of plan works in a similar way to income protection, however it is not linked to your monthly income and the amount of cover is set by you.
The desired income to be paid each month can remain level throughout the term, so the benefit will not change. You can apply for increasing cover, which increases in line with inflation each year, in case living costs etc increase in the future.
With level term, the amount of cover will remain the same throughout the term of the policy you have.
With increasing term, the level of cover increases in line with inflation each year to account for increasing living costs etc.
Family income benefit is suitable for someone who has a family/dependents and little to no access to savings.
The minimum age for this type of cover is 18 and the maximum age varies depending on provider.
As with all insurance products, the price of your monthly premiums depend on different variables such as general health, previous illnesses, smoking status, lifestyle, but also the level of cover you require.
We will run through a thorough budget planner to ensure you can comfortably afford your monthly premiums.
Family income benefit is a plan designed to pay out a monthly income to your family if you were to pass away.
Giving your family a lump sum should you pass away or be diagnosed with a terminal illness.
Critical Illness Cover is designed to pay you a lump sum upon diagnosis of a specified illness.
Ensure you can continue to pay your monthly bills with Income Protection.