Family Income Benefit
Protect your families lifestyle when they need it most
Ensuring your family can stay in your home, and continue to live the lifestyle you have built for them, should the worst happen is at the heart of my advice.
This is a form of life insurance, but unlike traditional life cover the amount of cover taken is designed to pay out a monthly income in the event of your death, as opposed to a lump sum.
This type of policy is a great way of ensuring, in the event of your death, your family can continue to live the same standard of lifestyle as they do now.
You can chose the level of cover you wish to take, and the term over which you want to take it. This really lets you personalise the cover to your own family specific circumstances, whether that's children reaching financial dependence, to coincide with university ending or your retirement age. You really have control over both the level and term of cover. You can also elect to set the policy up to keep pace with inflation so that as your wage rises to keep pace with the cost of living so too would the amount of monthly Family Income Benefit.
This type of policy can be taken to run alongside life insurance, critical illness cover and income protection as it is focused on replacing your income and protecting your families lifestyle should you no longer be around to contribute to this financially.
All insurance will be subject to medical underwriting to determine the level of cover available and the premiums that will apply.
As with all insurances policy exclusions and conditions will apply.