Family Income Benefit

Introduction

Family income protection provides your family with a monthly income for the remaining term of the policy, rather than a single lump sum.


  • The Main Features Are:

  1. Policy is arranged for a fixed term of years.
  2. Benefits can be on a level or increasing basis.
  3. Providing a tax free income from the date of death to the end of the term.
  4. Option on claim to commute the regular income for a single lump sum.
  5. No benefit on survival.
  6. No surrender value.
  7. Level premiums throughout the term.

  • Family Income Benefit Policy Benefits:

  1. Low cost cover providing a tax free income, particularly useful for young families.
  2. Benefit is paid on death (or diagnosis of a specified critical illness if that option is taken out) of the insured person for the remaining years of the policy term.
  3. Provides valuable income to the surviving spouse/partner to bring up children etc.
  4. Available for long or short term plans i.e. 1-18 years.
  5. Available for single or joint applicants.

This means that the payment on your death will be given to your family in regular payments rather than as a lump sum. The term is chosen at the outset of the policy.


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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

SHIRE FINANCIAL SERVICES LIMITED IS AN APPOINTED REPRESENTATIVE OF SESAME LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

COMMERCIAL MORTGAGES, INCLUDING BUSINESS BUY TO LET, ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. FOR COMMERCIAL MORTGAGES WE ACT AS INTRODUCERS ONLY.