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Family Income Benefit

Regular income for your family should you pass away
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ensure a steady source of income for your family if you pass away

Family Income Benefits (FIB) are a type of life insurance policy that provides a regular tax-free income to the beneficiaries - usually the insured's family or dependents - in the event of the policyholder's death.

family income benefit explained

Unlike traditional life insurance, which typically pays out a lump sum, Family Income Benefit pays out a regular income, often on a monthly or yearly basis, for a predetermined period.

Family Income Benefit is particularly useful for individuals who want to ensure that their loved ones have a steady source of income if they were to pass away prematurely. It can help cover ongoing living expenses, such as mortgage or rent payments, education costs, and daily necessities.

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Family Income Benefit
Family Income Benefit

Who needs family income benefit?

Family income benefit is advised for the following individuals:

Parents

Parents often consider Family Income Benefit to provide financial support for their children's education, daily needs, and other expenses if they are no longer there to provide for them.

Homeowners

If you have a mortgage or other substantial debts, a Family Income Benefit policy can be used to ensure that your family can continue to make mortgage payments and stay in their home even after your death.

Homeowners with Mortgages

If you have a mortgage on your home, life insurance can help ensure that your family can continue to make mortgage payments and keep the family home in case of your passing.

Single Parents

Single parents who are the sole providers for their children may find Family Income Benefit especially important to guarantee that their children's financial needs are met if they are not there to provide for them.

Young Families

Young families with limited savings may rely heavily on the income of one or both parents. FIB can serve as a safety net to maintain the family's financial stability in case of a tragedy.

Shareholders

Shareholders in limited companies may choose relevant life insurance to protect their families and beneficiaries while minimising tax liabilities.

Anyone with Dependents

Whether you have children, elderly parents, or other dependents who rely on your financial support, Family Income Benefit can be a suitable option to ensure that their needs are met in your absence.
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Speak to our trusted insurance advisors

Windsor Hill works closely with individuals to advise on all family income benefit options to help you make informed decisions based on individual needs and circumstances.

Speak to one of our expert team members today to help you with your family income benefit requirements at 01225 962 456 or email info@windsorhillmortgages.co.uk

With Windsor Hill Mortgages, the path to insurance is clear and straightforward, transforming what could be overwhelming into a smooth, informed process.

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IMPARTIAL FINANCIAL ADVICE

Whether you are looking for building insurance or life cover for peace of mind for you and your family, our team are here to offer practical guidance. 

 Our experienced financial, insurance and mortgage advisors take real pride in offering impartial advice, so you’ll have the peace of mind that your best interests are at the heart of everything we do. 

 Based in Bath, we enjoy getting to know our clients and listening to their requirements to ensure we provide the right financial solutions every time. 
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