Family Income Benefit
An often-overlooked type of cover, Family Income Benefit protects a level of income for a fixed term. In the event of death the amount of income chosen at the outset will be paid for the remainder of the term of the plan. Often the term is set to protect you until your youngest child is 18 or 21. This protection is not as expensive as you may think.
Depending on your circumstances, indexation might be an option for this type of plan to protect the purchasing power, although the benefit can be level. If indexation is elected at the outset, the premiums and benefit would rise annually, normally by Retail Price Index.
Family Income Benefit is one of the least expensive forms of life insurance and differs from most other types in that it is designed to pay the benefit, in the event of death, as an income rather than a lump sum, although there may be the option of taking a lump sum depending on the policy.
The plan will have no cash in value at any timeand will cease at the end of the term. If premiums are not maintained then cover will lapse.
Need help? Get in touch with us today, we love to hear from clients old and new.
Call us on 01264 332334
Visit us at Oliver House, 40A High Street, Andover, SP10 1NF
..... or simply complete the enquiry form below.
Contact us at email@example.com and speak to one of our advisers today
Claim your FREE credit report
Taking a look at your credit report will allow you to see all the information the lender will see when they check your credit profile.
The credit facility has a 30 days free period and can be cancelled at any time. It is then £14.99 per month
Your home may be repossessed if you do not keep up repayments on your mortgage.
Most forms of buy to let mortgage are not regulated by the Financial Conduct Authority.
Page and Page Andover Limited is an appointed representative of The Whitechurch Network Limited which is authorised and regulated by the Financial Conduct Authority.
Registered in England & Wales Company number : 07825326 Registered Address : Oliver House, 40a High Street, Andover, Hampshire, SP10 1NF
The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK