Family Income Benefit Insurance

Family Income Benefit Insurance provides monthly payments for your loved ones in the event of your passing. Secure your family’s future today.

Family Income Benefit Insurance Solutions

A Family Income Benefit policy provides financial security for your loved ones, similar to life insurance. However, instead of a lump sum, this policy ensures your family receives regular monthly payments if you pass away or are diagnosed with a terminal illness. These payments help cover daily living expenses, allowing your family to maintain their lifestyle during challenging times.

As whole-of-market insurance brokers, we compare policies across the industry to find competitive deals tailored to your needs. Our friendly team is here to guide you through the options and help you choose the best terms for your circumstances.

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How is Family Income Benefit Different from Life Insurance?

Family Income Benefit and Life Insurance share similarities, but they serve distinct purposes:

Life Insurance
Family Income Benefit

Provides a lump sum payout, often used to pay off a mortgage or other large debts.

Offers monthly payments to cover everyday expenses, ensuring ongoing financial support for your family.

These policies are often set up together, as they complement one another. A Family Income Benefit policy focuses on maintaining your family’s monthly budget, covering essentials like food, utilities, and school fees.

Why Would You Need a Family Income Benefit Policy?

This policy is ideal for families with dependents who rely on a primary earner’s income. In the event of your passing, it ensures your spouse or partner receives regular payments to provide for your children until they are self-sufficient (typically around 21 years old).

Family Income Benefit offers:

Financial support to cover daily expenses like food, utilities, clothing, and education.

Stability and security for your loved ones during a stressful and life-changing time.

Peace of mind, knowing your family can maintain their lifestyle without additional financial worries.

How Much Does Family Income Benefit Insurance Cost?

The cost of Family Income Benefit depends on several factors, including:

Your age and overall health.
Your lifestyle (e.g., smoker or non-smoker).
The length of the policy and level of cover required.
The number of dependents you need to provide for.

Our experienced advisors will assess your circumstances and provide a tailored quotation that fits your needs and budget.

Common Questions About Family Income Benefit Insurance

How long do payments continue for?

How long do payments continue for? Payments typically continue until your children are self-sufficient, often set to end when they reach 21 years old, depending on the policy terms.

Can I have Family Income Benefit alongside Life Insurance?

Yes, Family Income Benefit is often arranged as a complementary policy to Life Insurance, ensuring both lump-sum and monthly financial support for your family.

What expenses can the monthly payments cover?

The payments can be used for a variety of expenses, such as household bills, food, education costs, and other living expenses.

Is this policy only for families with children?

While primarily designed for families with dependents, anyone looking to provide ongoing financial support for loved ones can benefit from this policy.

Can I adjust the level of cover over time?

Yes, many policies allow adjustments to the level of cover as your circumstances change, such as having more children or reducing debts.

Next Steps

At Bradgate FS we aim to make choosing and applying for a mortgage, protection, loan or insurance as stress-free as possible.

Taking action today can make a difficult time slightly easier for your loved ones should the unexpected happen. Our dedicated team of whole-of-market insurance advisors will help you find the best Family Income Benefit Insurance policy to suit your family’s needs.

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