Providing Financial Security for Your Loved Ones When They Need It Most.
Family Income Benefit (FIB) is designed to provide a regular tax-free monthly or annual income (subject to current UK tax rules and policy terms) to your beneficiaries if you pass away during the policy term and a valid claim is accepted. Rather than one large lump sum, your family receives regular payments until the end of the policy term, helping them maintain their lifestyle and meet ongoing financial commitments.
How We Can Help
Every family's financial circumstances are different, which is why choosing the right level of cover is important. As your Mortgage & Protection Adviser, we will:
- Take time to understand your family's financial needs.
- Discuss your income, mortgage and monthly commitments.
- Explain how Family Income Benefit works.
- Help calculate an appropriate level of monthly or annual income.
- Recommend a policy term that reflects your family's needs.
- Search a wide range of leading UK insurers.
- Compare policy features, benefits and premiums.
- Explain policy terms and conditions in clear, straightforward language.
- Help you complete your application.
- Support you throughout the underwriting process.
- Review your protection as your circumstances change.
Our aim is to help ensure your family has appropriate financial protection if the unexpected happens.
What Is Family Income Benefit?
Family Income Benefit is a type of Life Insurance designed to provide your loved ones with a regular income if you pass away during the policy term.
Instead of paying a single lump sum, the policy pays a regular monthly or annual income until the policy ends, helping your family replace lost earnings and continue meeting their everyday financial commitments.
This regular income can help cover:
- Mortgage or rent payments.
- Household bills.
- Food and everyday living expenses.
- Childcare costs.
- School, college or university expenses.
- Family activities and lifestyle costs.
- Other ongoing financial commitments.
Family Income Benefit is particularly popular with parents who want to help ensure their children continue to receive financial support while they are growing up.
Why Might You Need Family Income Benefit?
Many families rely on one or both incomes to maintain their lifestyle. If one income were suddenly lost due to death, it could become difficult to continue paying regular household expenses. Family Income Benefit may help your family:
Continue Paying the Mortgage or Rent
Cover Household Bills
And living expenses.
Replace Lost Income
Maintain Their Lifestyle
Support Their Upbringing
And education.
Reduce Financial Pressure
During an already difficult time.
Provide Financial Stability
While your family adjusts to life without you.
Because the payments are made regularly, many families find it easier to budget than managing one large lump sum.
Why Choose Us?
Whole of Market
We search a wide range of leading UK insurers rather than recommending the same solution to every client.
Personal & Friendly
Advice tailored to your individual circumstances, with clear communication and no unnecessary jargon.
Support Throughout
From your initial enquiry through to completion, and ongoing assistance afterwards.
Why Choose Family Income Benefit?
Family Income Benefit offers several advantages for many families. It can:
Regular Income
Provide a regular income rather than a single lump sum.
Replace Lost Earnings
Help replace lost earnings.
Support Your Budget
Support your family's monthly budget.
Runs to Your End Date
Continue until your chosen policy end date.
Support Their Education
Help your children through important stages of their education and development.
Cost-Effective Alternative
Often provide a cost-effective alternative to a large lump-sum Life Insurance policy, depending on your needs and circumstances.
For many families, receiving regular payments can provide reassurance and make day-to-day financial planning easier. During our consultation, we'll explain whether Family Income Benefit, Life Insurance or a combination of both may be the most suitable solution for your family's circumstances.
Frequently Asked Questions
No. Traditional Life Insurance usually pays a lump sum if you pass away during the policy term. Family Income Benefit pays a regular monthly or annual income until the end of the policy term, subject to the policy terms and conditions.
Yes. Many families choose to combine both types of protection. A lump sum may help repay the mortgage, while Family Income Benefit can provide an ongoing income to help with everyday living expenses.
Payments continue until the end of the policy term selected when the policy is taken out, provided a valid claim has been accepted.
Yes. Your beneficiaries can generally use the payments however they choose, such as covering household bills, childcare, mortgage payments or everyday living expenses.
It can be particularly valuable for families with dependent children because it helps provide a regular income while children are growing up. Whether it's suitable for you will depend on your personal circumstances and protection needs.
Here to Support You
- Explaining your options clearly and without jargon.
- Searching a wide range of UK insurers.
- Recommending a policy that is suitable for your individual needs and circumstances.
- Helping you understand the features and limitations of each policy.
- Supporting you through the application process.
- Reviewing your cover as your needs change over time.