Family Income Benefit
Family Income benefit is a great way to protect your family as it provides your dependants with an income in the event of your death. Family Income Benefit provides the financial security your family will need to cover day to day living expenses.
How Family Income Benefit works
Family Income Benefit: This is a type of Insurance that provides a monthly income in the event of death. The benefit of a monthly plan is a monthly amount paid out which can be used towards bills such as mortgage payments or rent, food, electricity, gas and other amenities and expenses so your family can maintain their standard of living and not feel any financial strains. Family Income benefit can help to ensure that your family will not have the additional stress of having to pay their bills after losing the primary earner. This policy is ideal for families with young children as it safeguards their standard of living. The main difference between a Family Income Benefit plan and a term insurance policy which pays a lump sum is the income benefit will pay out what is left of the policy for example if the policy in place is to pay out a monthly amount of £2000 per month over 20 years and death occurs after year 5 then the benefit will pay the monthly income for the 15years remaining on the policy. A term insurance policy pays out a lump sum whenever death occurs within the term. For this reason the Family income benefit is usually a cheaper policy.
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Before taking out a Family Income protection plan, it is important to work out how much your dependants will need to cover bills on a monthly basis now and in the future and how long you will want the policy in place for. This is usually until your children are no longer financially dependant on you.
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Are you ready to discuss your plans?
It is important to review your existing plans annually to ensure you have the right level of cover in place. Book an appointment with us to review your policies or for us to provide you with advice on what policies you may need. Alternatively, please contact us on 0800 0495949 to arrange a mutually convenient time for a telephone discussion or Email us at info@pearlroseinsure.co.uk or Click here to make an free online Enquiry. There is no cost or obligation. We will have a chat about what you have or need and how you can save money on your insurance.
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Why Us?
1. We act on behalf of our clients and not the Insurers which means you can guarantee whatever we recommend to you is in your best interest.
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2. We create tailored Insurance solutions for our clients at a price that is affordable.
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3. We break down all the features, benefits and exclusions of the policies we recommend so you know at outset everything about the protection package.
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What our clients say:
" Attended to by a well experienced customer service staff, who is warm with good knowledge patient and professional. I was given detailed information to make a better decision. I am satisfied with the advice given. " Mr L, Norfolk (May 2022)
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"Fiona was very patient to make sure I understood the policies available and how it compared to what I was currently getting. Fiona spoke with clarity and I would definitely recommend her to my friends and family. When my policies are up for renewal I will be most likely go through any new policies with her again". Mr S, London (March 2022)
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"Fiona provided excellent advice and is very well spoken." Lisa, (August 2022)