Family Income Benefit is a type of life insurance that is designed to avoid financial hardship for your family if you passed away during the term of the policy, but instead of paying a lump sum, it will pay a monthly income.
Your policy is covered by you making monthly payments. The payment amount is determined by your job, age, smoking status, overall health, how long the insurance is for and the amount being insured.
The term will end at the date you set when taking out the policy, which will usually be the age you feel your dependants will no longer be dependent on yourself.
At RNR Mortgages, we aim to make arranging your family income benefit, like your mortgage, stress-free, anxiety-free and hassle free.
Do I need family income benefit?
If you have dependents or a spouse that is dependent on your income and would prefer an income rather than a lump sum payment, then we recommend that you take out family income benefit.
To further help identify whether you need life insurance, try asking yourself the following two questions:
If you passed away yesterday, how do you want your family to be looked after today?
Is it important for you to remain in control of keeping your home, regardless of any circumstances?
We are proud to offer family income benefit advice and support to those in Leicester and beyond. We will help you ascertain how much cover you need and take into account your current health situation. Once we have done this, we will be in a strong position to find the perfect provider to meet your requirements.
Contact Us Today
If you are looking into family income benefit options, get in touch with our specialist team who are on hand to answer any questions, provide support and guide you on taking out the right policy to meet your needs.
