Family Income Benefit

Family Income Benefit is an innovative type of life insurance product, which is useful and extremely good value when compared to some other types of life or health insurance.

As with term assurance policies, family income benefit policies provide cover on death if you die during the policy term. But instead of a lump sum, it gives regular set payments (income) for the rest of the term of the contract. Premiums remain level throughout, and if you live beyond the end of the policy there will be no pay out. This means that it is an attractive product for those who would like to ensure that their family will maintain a regular income after their death, rather than a one-off payment, which could potentially be wasted.

Family income benefit is particularly attractive to those who like to know they have a regular monthly income and would rather not have to worry about complex investment decisions.