Family Income Benefit (FIB) is a life insurance policy that grants your family an income in the event of a tragedy.
Instead of getting a single lump sum like many other policies, FIB supplies regular monthly payouts, generally free from tax to help accommodate for the loss of salary.
Protect your beloved ones with this trustworthy financial assurance they need and deserve!
Family income benefit insurance works by providing a regular monthly tax-free income to your family in the event of your death or disability. You can purchase a family income benefit policy with a set coverage period and pay either annual or monthly premiums depending on your needs.
When a family income benefit is triggered, it pays out for the entire coverage period, until the family no longer needs the income.
This means your family can still receive income even if you were to pass away when they are not fully dependent on it anymore.
Family income benefit insurance works by providing a regular monthly tax-free income to your family in the event of your death or disability. You can purchase a family income benefit policy with a set coverage period and pay either annual or monthly premiums depending on your needs.
When a family income benefit is triggered, it pays out for the entire coverage period, until the family no longer needs the income. This means your family can still receive income even if you were to pass away when they are not fully dependent on it anymore.
Family income benefit provides an invaluable financial safety net to families in case of tragedy. It also helps to ensure family members are provided for in the event of the policyholder’s death, disability, or critical illness.
The tax-free income can be used to help pay for expenses such as mortgage payments or essential household costs like groceries and utility bills.
Our team of UK life insurance brokers search the entire insurance market and compare the best critical illness cover quotes to get the best one for your situation and needs.
Over family income benefit cover policies can be flexible and work around you. We review our providers each year to make sure you are getting the best deal for you.
