Free Phone |
Or From Mobile |
Family Income Benefit (FIB) is a useful and protection product that provides the best cover that you can buy.
With the Family Income Benefit, rather than providing a lump sum should you pass away it provides a regular, tax-free, monthly income for your dependants - from the time of the claim to the end of the plan term.
The advantages of Family Income Benefit to someone living off the payout in the event of your passing away, an example being perhaps a young widow are advantageous with family income benefit as were the beneficiaries to invest a normal lump sum they would have to pay fees and commissions associated with the lump sum. Compare this to Family Income Benefit, where the long term dividends may be more satisfyingly rewardingly weighted towards the longevity of the Family Income Benefit.
Did you know that just £3000 of income for every £100,000 of insurance is paid out on a death and that few people can afford enough lump sum cover to properly provide for their dependents income needs, particularly when those with young children can impact earnings levels and increase the amounts protection it may be considered sensible to have Family Income Benefit in place.
Family Income Benefit can be considered a cost effective way of protecting your loved ones because with Family Income Benefit you can: