About Life Insurance and Family Income Benefit Policies
Life insurance pays out a lump sum or an ongoing income if you die and can also be set up to do so if you are diagnosed with a terminal illness.
No one wants to talk about death and serious illness however you’re probably reading this because you provide for your family financially. When you take out a Life Insurance policy you ensure that your family is still provided for even if you were to die or become terminally ill.
With a cash life insurance or Family Income Benefit pay out, your family will be able to:
- Pay the mortgage. Your family can continue to live in the family home without the added emotional stress of downsizing or borrowing to cover the shortfall – they have choice.
- Provide for your family – a life insurance pay-out will ease the financial pressure on your family at a very stressful time – they have security.
- Cover your funeral costs: The cost of a funeral can be several thousand pounds and is often overlooked – they have peace of mind.
- You can even leave an ongoing income to help pay the household bills and provide the lifestyle you would want for your family.
For more information on the most common policy types read the information provided below, or better still, speak to one of our expert advisors who can help you decide what policy is best for your individual circumstances.
Please be aware that not all life assurance policies are the same.
There are many different types, including:
- Level term
- Decreasing term
- Family Income Benefit
- Whole of Life
And they can have additional options, such as:
- Critical Illness Cover
- Terminal Illness Cover
- Index linking
Choosing the right solution for you so that the right people receive the right amount at the right time is why you need Real Life Advice
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