Family Income Benefit

Life Insurance that provides a regular income for your family

Family Income Benefit (known as FIB), is a Term Life Insurance product that, as the names suggests, is designed to provide an income to dependants in the event of a claim, rather than a cash lump sum.

The sum assured is specified as an annual income. In the event of a claim the sum assured per annum is then payable from the date of a claim to the policy maturity date. Payments can be monthly, quarterly or annually. Income payments are simply instalments of a lump sum (sum assured) and as such are not liable to income tax.

Many companies will allow the income to be exchanged for a cash lump sum at claim if required.

Why choose Family Income Benefit?

  • We search our panel of leading insurers to find you the best deal
  • Payments can be monthly, quarterly or annually
  • Income payments are not liable to income tax
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