Keep your family’s income going if you’re not here
If you died unexpectedly, how would the bills get paid next month, and the month after that?
Most families rely on monthly income. When it stops, the pressure can build quickly when mortgage or rent, council tax, childcare, and everyday living costs still need paying.
Family income benefit is a simple way to put a regular, tax‑free income in place for your loved ones if you die during the policy term.
Why this matters
When someone dies, families often have to deal with paperwork, stress, and difficult decisions, at the same time as trying to cope with a loss and keep normal life going.
Many people mean to sort protection ‘later’, but it’s easy to put off. Research highlights a significant gap between the number of people who worry about their family’s financial security, and those who have protection in place.
- 72% of UK adults believe their family wouldn’t cope financially beyond 12 months if they died (1)
- Despite this, 58% of adults don’t have any financial protection in place, such as life insurance or income protection (2).
How family income benefit works
If you die during the policy term, family income benefit pays a regular, tax‑free monthly income to your family. It’s designed to help with the costs that keep coming every month, such as:
- Rent or mortgage payments
- Utility bills and council tax
- Food and daily living costs
- Childcare and school expenses
- Transport
- Family commitments
Family income benefit is often chosen because it can offer:
- Lower premiums than lump‑sum life cover
- A choice of level or increasing income
- The ability to review cover as your life changes
Simple, practical protection built around everyday life.
Is it right for you?
Family income benefit could be a good fit if you answer yes to any of these statements:
- I have children or financial dependants
- My household relies on my income
- My savings wouldn’t cover years of lost earnings
- I’d like my family to receive predictable monthly payments, rather than (or alongside) a lump sum
Why speaking to a financial adviser helps
Getting the right level of cover is the important part. It’s exactly what an adviser is there for. A conversation can help you understand what your family would need, and what’s affordable.
A financial adviser can help you:
- Work out the monthly income your family would need
- Compare different options and providers, without the guesswork
- Decide whether to link income payments to inflation
- Make sure your cover fits with the rest of your financial resilience plan
A quick check: would your family cope without your income?
If you’re not completely sure, don’t leave it to chance. Speak to a financial adviser and become clear on your options to protect what matters most.
Contact us to speak to a qualified financial adviser to talk through family income benefit and what the right level of cover could look like for you and your family.