Family Income Benefit

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Family income benefit is a policy designed to provide families with cost-effective life assurance. The policy will provide a regular monthly income if a life assured dies. Working with clients across the UK, we always find the best family protection plans on the market.

Family income benefit assurance

What is Family Income Benefit?

Family income benefit is a type of life assurance that pays out a regular income if a life assured dies. Benefits are then paid monthly to the beneficiaries, until the end of the policy term.

Family income protection is a cost-effective way of providing support to a family in the event of the death of a parent/policyholder.

How does family income benefit work?

You decide what monthly benefit your family/loved ones would need each month if you were to die, and how long this income would be required for. Typically, this may be until children reach an age of being financially independent i.e. 18, 21 or more often now 25.

As an example, you calculate that your family would need £1500 a month until your youngest child finishes schooling, this is in 15 years’ time. You would therefore apply for a family protection insurance policy with the benefit of £1500 per month for a term of 15 years.

This would mean that in the event of a claim, the £1500 a month would be payable to your family until the end of the policy. 

We can help you

There are thousands of Mortgage Products and hundreds of lenders all of which will have their own individual criteria and affordability models.

Using a Whole of Market broker will help you to unlock the best deal available to you, narrowing the chance of rejection without you doing the leg work. 

Family income benefit insurance

Do you need family income benefit?

Losing a parent is devastating, and the effect on a family with children can cause both emotional and financial stress.

Many households never take the time to work out what the effects of losing a parent or guardian would be. However, it generally has a significant financial impact on those left behind.

Contact us today to arrange a family income benefit policy and give yourself peace of mind that your family will remain financial secure should they require it.