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.
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.Apply Online
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.Apply Online
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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.