What is family income benefit?
Family income benefit pays your beneficiaries a monthly or annual income if you die during the policy term.
It can be easier for families to manage than a single lump sum because it is designed to replace lost income over time.
Key benefits
- Regular income for dependants
- Often cost-effective family protection
- Can be index-linked
- Useful alongside mortgage cover
Frequently asked questions
Payments continue until the policy term ends. If a 20-year policy is claimed in year 8, payments can continue for the remaining 12 years.
Some providers offer index-linked options where the benefit increases over time.
Yes, and this is often considered so the benefit reaches the right people quickly.