Family Income Benefit can help maintain your family’s financial stability if the worst should happen to you.
If you pass away or suffer a specified critical illness, a Family Income Benefit policy is designed to provide regular monthly payments until the end of the policy term. This helps replace the income you would have provided, ensuring your loved ones are supported.
Rather than a lump sum, the policy pays out a monthly income to help cover ongoing expenses, such as childcare and school fees, as your family adjusts to the changes.
Typically, premiums are paid monthly, and at the end of the policy term, there is no cash value.
If you choose a policy with ‘Guaranteed Premiums,’ the amount you pay each month is locked in and will not increase throughout the policy term.