What is family income benefit?
Family income benefit is a type of Life Insurance or standard Term Insurance but, instead of a lump sum being paid out upon death of a policyholder: it gives a regular monthly income to your family, for the term of the policy.
For example - with a 30 year policy : if the policyholder dies in Year 5 - the policy will pay a monthly sum to their fmaily for the remaing 25 years of the policy.
This can therefore potentially secure a continuous income for your family, should you die or be diagnosed with a terminal illness.
In some situations, family income benefit insurance is a more reliable and affordable solution to protecting your family's financial future.