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Family Protection / Family Income Benefit

Family Protection is a type of life insurance which pays out a lump sum or specified income on the death of the policy holder. This gives a financial buffer to your family members, giving you the peace of mind that they are free from financial strain should the worst happen.

A typical life assurance policy will pay a lump sum of cover to you family in the event of your death. The amount and term of the policy are set at the start of the policy. Please see ‘Life Assurance’.

Family Income Benefit is a type of life assurance or ‘term’ policy that pays a tax-free monthly income if the policy holder dies, providing financial support when your family need it most. This monthly amount will continue until the policy ends, and this is usually set to the time that your children will no longer be financially dependent on you. The amount of cover and the term of the policy can be tailored to meet your individual family needs and budget.

I often recommend these policies to clients with children as they provide valuable cover to make sure that in a time of loss, a family can continue with their routine, the additional costs and treats do not need to end. This is type of policy generally costs less per month than a level life assurance policy. The two can also be combined for complete protection.

I will always spend time to listen to what you would like to provide for your family, should the worst happen and recommend the right cover for you and your family.

Please note for these insurance products, terms and conditions apply. This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of cover provided under the plan.