Family Income Benefit is designed to provide ongoing financial support for your loved ones in the event of your death during the policy term. Instead of paying a single lump sum, this type of cover provides a regular, tax-free income for a chosen period, helping to replace lost earnings and maintain day-to-day financial stability.
Protect your family’s lifestyle with a reliable, paycheck-style protection.
This regular income acts as a reliable safety net to cover essential costs like household bills, childcare, and education. Because the payments mirror a traditional monthly salary, it removes the stress of complex long-term budgeting, making it easier for your family to manage day-to-day finances with confidence and ease.
Your financial footprint is unique, and your protection should be too. You have the flexibility to customize the income amount, the policy duration, and the total level of cover. This ensures the plan perfectly matches your specific responsibilities and adapts to the evolving needs of those who depend on you most.
Family Income Benefit policies are typically set up to run for a fixed term, such as until children reach adulthood or until a mortgage is expected to be repaid. If a claim is made during this term, payments are made regularly (usually monthly) until the end of the policy period.
Some policies offer options such as guaranteed premiums, meaning the amount you pay remains fixed throughout the term, providing certainty and ease of budgeting.
As with all insurance policies, terms, conditions and exclusions will apply, and it is important to understand what is covered before proceeding.
When you are ready to consider Family Income Benefit, we can help you assess how much ongoing income your family may need and for how long. By taking into account your household expenses, financial commitments and future plans, we will help you identify a level of cover that provides meaningful and practical support.