Family Income Benefit Key Features

The key difference between fib and standard life insurance is that rather than your loved ones receiving a lump sum of money they ll get monthly payments instead.

Family income benefit key features. Family carer benefit if your client s spouse civil partner or child is too ill to perform certain activities of daily living. Family income benefit can also include critical illness insurance which is designed to pay the selected income if the policyholder is diagnosed with a critical illness within the chosen term. For uk financial advisers only. Key features eligibility criteria interface with other government assistance schemes how to apply amounts of allowances wfa calculator examples to help you understand the wfa scheme 2017 survey for the low income working family allowance lifa.

Key features of the zurich income protection policy 1 29 mb pdf zurich income protection target market statement 202 09 kb pdf. Key features of personal protection contents its aims 2 your commitment 3 risks 3 questions and answers 4 other information 13. Family income benefit is a type of life insurance for parents and families. Main features inflation linked cover is available maintaining the buying value of the income in the.

This is a variant of the term insurance plan which offers regular income to nominee. For family and personal income plan several benefits are automatically included in our family and personal income plan fpip policies whereas others can be added for an extra cost. Key features of aviva new family income builder plan 6 times the annual premium is paid as maturity benefit on death the policy pays the guaranteed survival benefits for a period of 12 years after maturity the policyholder can take future survival. Family income benefit family income beneit pays out a monthly income until the end of the beneit term if the insured person.

Rather than paying out a lump sum on death it pays out a regular tax free income on death until the end of the term some providers like royal london also cover earlier diagnosis of a critical illness. Critical illness conditions vary from insurer to insurer but in general include such conditions as some forms of cancer some forms of heart attack and stroke etc. Family income benefit protects your clients loved ones if they were to die by giving them a quarterly salary until the end of the term.