Features of Family Income Benefit
Family Income Benefit provides your family with a regular fixed, tax free income to assist with livings costs when you are no longer here. These policies are sometimes cheaper than a standard life policy. A Family Income Benefit policy can be put in to a Trust so that it doesn’t form part of your estate and will not need to go through probate meaning it can be paid out to your family straightaway.
The Main Features Are:
Fixed Term
Policy is arranged for a fixed term of years.
Level or Increasing
Benefits can be on a level or increasing basis.
Tax Free
Providing a tax free income from the date of death to the end of the term.
Claim
Option on claim to commute the regular income for a single lump sum.
Surrender
No surrender value.
Survival
No benefit on Survival.
Premiums
Level premiums throughout the term.
Family Income Benefit Policy Benefits:
Low Cost Cover
Low cost cover providing a tax free income, particularly useful for young families.
Benefit
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.
Valuable Income
Provides valuable income to the surviving spouse/partner to bring up children etc.
Term Plans
Available for long or short term plans i.e. 1-18 years.
Applicants
Available for single or joint applicants.
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JUST SOME OF THE INSURERS WE WORK WITH
Registered Address
Shire Financial Services Ltd
Suite 3, Rookery House,
The Guineas, Newmarket
Suffolk CB8 8SY, England.
Registered Company No.
05904006
Country of Registration: England
Opening Hours
Mon-Fri: 9:30am to 5:30pm
Sat and Evenings: By Appointment
Sun: Closed
Social Media
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.
THE FCA DOES NOT REGULATE ESTATE AGENTS, SURVEYS AND SOME FORMS OF BUY TO LET MORTGAGES.
FOR ESTATE AGENTS AND SURVEYS, WE ACT AS INTRODUCERS ONLY.
THE FCA DOES NOT REGULATE CONVEYANCING and SOLICITORS SERVICES. WE ACT AS INTRODUCERS FOR CONVEYANCING and SOLICITORS SERVICES.
THE FCA DOES NOT REGULATE SOME FORMS OF TAX AND INHERITANCE TAX PLANNING. FOR TAX AND INHERITANCE TAX PLANNING WE ACT AS INTRODUCERS ONLY.