Finding The Best Family Income Benefit Deal For Your Circumstances
When a family sadly loses a partner, they also lose the income and financial support they provided. Life cover like family income benefit can be a lifeline at this difficult time, allowing them to move through their grief and deal with the situation without having to worry about money. If you’re concerned about the protection you have in place for your family, we can help you find a family income benefit provider to rely on. Even if you’ve been declined elsewhere, our specialist insurance advisors will scour the whole of the market to help you identify the deal best for to your circumstances.
What is family income benefit?
Family income benefit is an insurance product intended to support households that have lost a loved one and the financial contribution that person provided. It is a type of life cover, and works by delivering a monthly pay out to the beneficiaries once it has been claimed for the remaining duration of the insurance term. So, for example, if you died 5 years into your 20 year policy, your family would receive monthly payments for 15 years.
If you want to get a family income benefit policy for your household, it’s important to enlist the help and support of experienced life cover insurance brokers. When the Bank Says No can help you identify the right insurer for your needs, and help you evaluate the terms before making any decisions. Talk to us today!
How would family income benefit support my family?
Losing a family member is an incredibly difficult time, and financial commitments can make it even more so. If the income of the person lost was integral to the family finances, it may now be hard to pay bills, meet debt repayments and cover daily expenses. Family income benefit supports the family by bridging the financial gap while they adjust to the loss, helping them maintain the lifestyle they previously enjoyed.
Maximise your chance of approval with specialist advice from an expert in Family Income Benefit
Can I get family income benefit if I’ve been declined in the past?
Yes, it is possible to get family income benefit, even if you’ve been previously declined. You may have been turned down by an insurer because you disclosed a past or present medical condition and they were not willing to offer cover due to the added risk that a claim would be made. The good news is plenty of insurers out there will be willing to accept you, even if you have an existing illness. With a team of qualified advisors at your side, it’s possible to get a specialist policy with perfectly affordable premiums. Don’t stress; we’re here to make sure your family is protected. Contact us today!
Why would I include family income benefit in my protection plan instead of just a lump sum pay out?
The point of life cover is to make life easier for our loved ones. The death of a family member can be the worst time of anyone’s life, and anything that can ease the strain is worth investing in. Whilst a lump sum can be highly beneficial, insurance that provides regular monthly payments is also worth having. This will take the stress out of day-to-day finances and mean the lump sum isn’t depleted by monthly obligations. Instead, the replacement income can cover daily household commitments and expenses, providing an essential lifeline through a tough period of time.
Declined family income benefit FAQs.
Family Income Benefit Calculator
Expert advice for declined family income benefit.
When the Bank Says No is a team of mortgage brokers and insurance advisors dedicated to helping our clients protect their household from the unknown. We work across the whole of the market, providing transparent advice and bespoke recommendations based on your particular circumstances. With access to specialist lender, we enable even those with complex medical histories to find life cover that is affordable now and highly beneficial if the worst happens. Your family’s future is too important to leave to chance.
Freeing your family from worry.
We understand how worrying it can be to contemplate how your family will manage without you there to support them. Trying to get your head around insurance terminology and complicated conditions is exhausting. Luckily, we’re here to help. Our team of professional insurance advisors can take the stress out of finding the right life cover for your needs. With us, you can rest easy in the knowledge that your family’s monthly income, home and additional needs will be taken care of whatever happens.
