What is it?
Family income benefit insurance is a type of life insurance that will give regular financial support to the family of a policyholder if they die or are diagnosed with a terminal illness.
We're 100% independent, and always will be.
Protect your family
Rest peacefully knowing you've secured an on-going monthly income for your family. Monthly pay-outs can ease the burden of bills, making budgeting more manageable for those you've left behind.
If circumstances change, we make it easy to switch from a monthly benefit to a lump-sum pay out during the claim process.
Who's it for?
We recommend Family Income Benefit for the following people and scenarios.
If you have a family with young children
You may want to take out insurance to ensure your children are looked after until they reach adulthood.
You're a full-time carer
If you've become a loved ones full-time carer. Having this in place means that if you're no longer around, there is a monthly income available to pay for things such as private home care visits, private health insurance or to help paying towards the bills.
Writing your policy into trust
You're able to write your insurance policy into trust. Making this legal arrangement ensures that money paid out goes straight to the people you want to benefit from it.
It also could allow a quicker death claim payment compared to a policy not in trust and could exempt any pay out from IHT liabilities.
We cannot advise on whether putting any particular plan into a trust would be suitable for your particular circumstances and would recommend you take professional legal advice.
How much cover do I need?
When working out the amount of cover you'll both need and want, it's important to consider the level of financial support your dependants would need if you weren't able to provide an income as a result of your illness.
Your adviser will help you decide the level of cover you should take out based on your individual circumstances.