Family Income Insurance

Introduction

When it comes to protecting your loved ones, Family Income Benefit is a smart and often-overlooked option. It’s a simple, cost-effective way to ensure your family has financial security if the unexpected happens.

What is Family Income Benefit?

This type of insurance provides a regular tax-free income for a fixed term if you pass away during the policy period. Instead of a lump sum, your family receives an agreed monthly, quarterly, or annual payment – perfect for covering day-to-day expenses.

Here’s how it works:

• The term is typically chosen to support your family until your youngest child reaches 18 or 21.
• It’s one of the most affordable types of life insurance.
• You can choose between level payments or indexed payments that rise with inflation (like the Retail Price Index) to protect against the cost of living increases.

Why choose it?

• Tailored support: Payments continue for the remainder of the term, providing steady financial assistance.
• Flexible options: Some policies let you switch to a lump sum payout, depending on your family’s needs.
• Tax-free benefits: Under current rules, income payments aren’t taxed, making it a highly efficient way to plan for your family’s future.

Extra protection with Critical Illness Cover

For even greater peace of mind, you can add Critical Illness Cover to your Family Income Benefit policy. This means the income kicks in if you’re diagnosed with a qualifying critical illness like certain cancers, heart attacks, or strokes. Comprehensive cover often includes an additional 25-30 conditions, depending on the provider.

Is it right for you?

Family Income Benefit is ideal for family protection, especially if you’re insuring a breadwinner up to retirement age. It’s low-cost, tax-efficient, and designed to keep your loved ones financially secure.

A quick note: Some policies are subject to health assessments, so it’s worth checking your eligibility.

With Maplestone, you’re not just buying insurance – you’re investing in your family’s future security. Let us help you make the right choice for those who matter most.

Your future is worth protecting. Let’s get started today.