Family Income Benefit Quotes
Family income protection or family life insurance provides your family with a monthly income for the remaining term of the policy, rather than a single lump sum.
Family income benefit product features:
- A fixed term policy.
- Providing a tax free income from the date of death to the end of the term of the policy
- Option on claim to commute the monthly income for a single cash lump sum.
- No benefit on survival.
- No surrender value.
- The monthly premiums remain the same throughout the term unless you choose the increasing option.
- The policy is arranged for a fixed number of years.
Family income life assurance is now available with critical illness cover as an option.
Family Income Benefit Policy Benefits:
- Low cost cover providing a tax free income, particularly useful for young families.
- Benefit is paid on death (or diagnosis of a specified critical illness if that option is taken out) of the insured person for the remaining years of the policy term.
- Provides valuable income to the surviving spouse/partner to bring up children etc.
- Available for long or short term plans.
- Available for single or joint applicants.
Family Income Benefit Policy Limitations
- Fixed term means no flexibility, you may wish to extend cover but this is not possible.
- No continuing insurability, you may be ill at the end of the term and unable to obtain further cover.
- No investment element.
- The fixed sum assured does not take account of inflation unless you choose the increasing option.
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If you prefer to speak to an adviser, call 0800 458 3525 to discuss your requirements and make the appropriate arrangements for you, making applying for your cover as easy as possible.
Whether you are looking for first time family income benefit protection, topping up your existing policy or just looking for a better rate then Compare Quotes from Top UK Life Insurance Companies now.
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