Family Income Benefit
How Family Income Benefit can provide an affordable protection solution.
Family Income Benefit is an affordable way to provide a tax-free monthly income until the end of the policy term, on the death of the life assured or diagnosis of a terminal illness.
Premiums are based on your personal circumstances but the main areas for consideration by an insurer are your age and state of health – the older you are, the higher the premiums will be. Similarly, if you have or had a serious illness the insurer may seek to charge you more or in some cases be unwilling to cover you.
It is a fixed term policy and so there is no flexibility once the policy is in force; there is no option to increase the cover or extend the term.
Read more about Family Income Benefit in our fact sheet.
If you have any questions about Family Income Benefit or financial planning in general please get in touch with a member of our team.