Personal Protection Policies

Family Income Protection or Family Life Insurance provides your family with a monthly income for the remaining term of the policy, rather than a single lump sum.

Family Income Benefit Product Features:

• A fixed term policy
• Providing a tax free income from the date of death to the end of the term.
• Option on claim to commute the regular income for a single lump sum.
• No benefit on survival.
• No surrender value.
• Level premiums throughout the term.
• Policy is arranged for a fixed term of years.
• Family income life assurance is now available with critical illness cover as an option.

Family Income Benefit Policy Benefits:

• Low cost cover providing a tax free income, particularly useful for young families.
• 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.
• Provides valuable income to the surviving spouse/partner to bring up children etc
• Available for long or short term plans i.e. 1-18 years.
• Available for single or joint applicants.

Family Income Benefit Policy Limitations

• Fixed term means no flexibility, you may wish to extend cover but this is not possible.
• No continuing insurability, you may be ill at the end of the term and unable to obtain further cover.
• No investment element.The fixed sum assured does not take account of inflation.