City skyline

Family Income Benefit

Family income benefit is a policy designed to provide families with cost-effective life assurance. The policy will provide a regular monthly income if a life assured dies. Working with clients across the UK, we always find the best deals on the market.

Get in Touch

See Our Reviews

  • 5* Rated Service
  • Access to 90+ Lenders
  • SUSSED, Our £ Saving App
  • FCA Regulated, Personalised Advice
Family Income Benefit

family income benefit assurance

What is Family Income Benefit?

Family income benefit is a type of life assurance that pays out a regular income if a life assured dies. Benefits are then paid monthly to the beneficiaries, until the end of the policy term.

Family income benefit is a cost-effective way of providing support to a family in the event of the death of a parent/policyholder.

How does family income benefit work?

You decide what monthly benefit your family/loved ones would need each month if you were to die, and how long this income would be required for. Typically, this may be until children reach an age of being financially independent i.e. 18, 21 or more often now 25.

As an example, you calculate that your family would need £1500 a month until your youngest child finishes schooling, this is in 15 years’ time. You would therefore apply for a policy with the benefit of £1500 per month for a term of 15 years.

This would mean that in the event of a claim, the £1500 a month would be payable to your family until the end of the policy.

Get in Touch
Young family

family income benefit insurance

Do you need family income benefit?

Losing a parent is devastating, and the effect on a family with children can cause both emotional and financial stress.

Many households never take the time to work out what the effects of losing a parent or guardian would be. However, it generally has a significant financial impact on those left behind.

Contact us today to arrange a family income benefit policy and give yourself peace of mind that your family will remain financial secure should they require it.

Get in Touch

3 simple steps

1. Personal Details

My Mortgage Experts & Protection Experts Ltd (FCA 937076), is an Appointed Representative of King Mortgages Ltd.

King Mortgages is authorised & regulated by the Financial Conduct Authority (FCA). King Mortgages Ltd is entered on the financial services register http://register.fca.org.uk/ under reference number 803561.

The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

Menu

    Leave a Review

    For more details on how we handle your data, please view our Privacy Policy

    Error: Contact form not found.

      Contact Me

      Fields marked with an * are required.

      For more details on how we handle your data, please view our Privacy Policy

      Automatic Property Value Updates

      Changes in property value, coupled with a potential reduction in your loan amount (with a repayment mortgage), mean a change in the equity available in your property (Loan to Value); hence there could be improved opportunities for a better mortgage for you.

      Product Expiry Date

      Sussed will track when your mortgage is due to expire (usually when your mortgage payments rise substantially as you will automatically transfer to your lender’s standard rate).

      The app will alert you when it’s the right time to discuss your options with your mortgage broker.

      Sussed can help you plan.

      Rate Riser

      This feature is ideal for today’s economy and increasing prices. Sussed will continually scan the market, looking for the best-fixed rates available, especially when interest rates are rising.

      Using a series of algorithms, our clever technology can identify longer-term fixed rates available today that could save money against predicted rates at the end of your current product term (including the cost of transfer) – sussed is doing all the hard work.

      Equity Available

      With automatic property value updates and your Mortgage information loaded, this feature calculates the amount of equity and the maximum potential loan that may be available within a landlord’s portfolio. This will assist with seeing if there is the opportunity for to perhaps buy another property from leveraging your portfolio.

      Within sussed, you will also be able to see each of your properties with a roadside picture, a confirmed property value, monthly rental, current mortgage balance, payments, interest rate and the Loan to value/Gross rental yield.

      Sussed can help you manage your portfolio.

      Early Review

      This feature is there waiting for interest rates when they reduce. Using the same technology as Rate Riser, sussed will identify if your current deal is now able to be improved.

      Should the interest rates decrease, sussed will compare deals available on the day with your existing deal and flag if there is an opportunity for you to save money by switching.

      Regional Price Limits

      There are price limits on homes you can buy with an equity loan. The limit is different for each region in England.

      • East - £407,400
      • East Midlands - £261,900
      • London - £600,000
      • North East - £186,100
      • North West - £224,400
      • South East - £437,000
      • South West - £349,000
      • West Midlands - £255,600
      • Yorkshire and the Humber - £228,100

        Download your PDF

        For more details on how we handle your data, please view our Privacy Policy

          Contact Us Today

          For more details on how we handle your data, please view our Privacy Policy