
Ongoing Support for the Ones You Leave Behind.
If the worst were to happen, would your family have the income they need to manage day-to-day?
Family income benefit is a type of life insurance that pays out a regular, tax-free monthly income to your loved ones if you pass away during the policy term—helping them maintain stability at a difficult time. We’ll help you understand how it works, how much cover may be appropriate, and find a policy that fits both your needs and your budget.
Cotswold Mortgage & Protection can help you put thoughtful, long-term protection in place for your family to thrive, even if you’re no longer there.
Family Income Benefit FAQs
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Family income benefit is a type of life insurance that pays out a regular monthly income (rather than a lump sum) if you pass away during the policy term. It’s designed to help your family cover everyday living costs in your absence.
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Traditional life insurance pays out a one-off lump sum. Family income benefit provides a monthly income for the remainder of the policy term, helping your loved ones manage regular expenses like rent, bills, childcare, and food—especially useful if you’re the main earner.
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The income is paid from the time of death until the end of the policy term. For example, if you take out a 20-year policy and pass away in year 5, your family would receive payments for the remaining 15 years.
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Yes, and often it works well as part of a broader protection plan. For example, you might combine family income benefit with a lump sum life insurance policy or critical illness cover to cover different financial needs.
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It depends on how much monthly income your family would need if you were no longer around. We’ll help you assess your household costs and recommend a level of cover that provides real peace of mind.
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