Family Income Benefit: Monthly Family Life Insurance for Your Loved Ones
Why do I need Family income benefit?
Family income benefit as the name suggest is for your family so if you do have a family that you would like to secure financially, you can by putting together a monthly income plan in the event of your passing. So you should consider a family income benefit plan if:
- You have dependants, to ensure they’re able to manage financially when you’re gone.
- You’re a single parent and your kids are too young to manage on their own, a monthly income could be a lot better than a straight lump sum especially when it comes to young kids.
- You have a mortgage so a regular monthly income could ensure your loved ones are able to keep up with the monthly payments.
Key Features
Free Terminal illness cover along with your standard life cover
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No fees. No obligation. No hidden charges
Whole-of-market access allows the advisers on our panel to compare suitable policies and recommend cover based on your individual needs, circumstances and budget.
What is Family Income Benefit?
A family income benefit plan is also a type of life insurance except that it pays out monthly as opposed paying out a lump sum to the family of the insured (upon his death). The income is payable for the remainder of the policy term.
- It gives you monthly financial security so you or loved ones are able to carry on living the same lifestyle
- It gives your family tax free income each month
How does it work?
