I am sure you have heard of Life Insurance many times but did you know that instead of paying out a lump sum it can pay a monthly income instead?
Family Income Benefit is Life Insurance (can also be critical illness cover) but it pays out a monthly income if you pass away during the term.
What are the benefits?
There are actually many benefits to this type of insurance, it:
- is a great affordable option
- it allows peace of mind that the money can be used more effectively and has an end date so that it is managed better
- you can choose how much you would like the monthly income to be and the term
What can it be used for?
- To replace a lost income into the household to support a spouse/partner
- To provide an income for Legal Guardians to take care of your child/children
- To replace a Child Maintenance payment
- To provide a long term income that can be managed effectively
I feel that Family Income Benefit is a great product to add to any existing cover you have and if you don't have any cover it is a great place to start.
Some of my clients opt for £500 a month and others £1000 to replace their income and continue supporting their family financially if they were no longer there.
Many clients choose to have a term that fits with when their youngest child is 18 for example, some choose 21 and 23, it is upto you.
I can help you work out how much cover would be suitable and help you to gain peace of mind.
You can contact me for a review and I do not charge a fee for my advice. Call or e-mail me or alternatively you can make an appointment easily via the Bookings Page https://www.prideprotect.co.uk/booking-an-appointment