Family Income Benefit

Family Income Benefit will pay out a regular income to your family in the event of your death. This is a tax-free income for your loved ones for the term of the policy, which you set when you take out the cover, along with the level of that income.

This type of policy is suitable for people who want their dependants to receive a regular income, rather than having to decide how to manage the single lump sum of more traditional life insurance policies.

You choose the term of the policy to best suit your families’ circumstances, e.g. to support you’re your children to age 18 or 21. The amount of cover you chose can also be linked to inflation to ensure that, in the event of a claim, the payments keep up with the rising cost of living. In this way, Family Income Benefit is an affordable and effective way of making sure that your family can maintain the lifestyle you want them to have, even when you’re not around.

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