Level term
The same payout, whenever you claim during the term.
Suits: Families, and interest-only mortgages
A payslip that keeps arriving
Family income benefit
Instead of one big sum, your family gets a regular income if you die, from then until the policy ends. It replaces what you’d have brought home.
A few minutes online. No sales calls, and no fee from us.
Other kinds of life insurance.
Family income benefit pays monthly. If a lump sum suits you better, try these.
Decreasing term
The payout shrinks over time, and so does the price.
Suits: A repayment mortgage
Joint life
One policy for two people, paying out once.
Suits: Couples sharing a mortgage or bills
Whole of life
Cover for the rest of your life, so it always pays out.
Suits: Leaving an inheritance, or paying Inheritance Tax
Over 50s
A fixed payout, guaranteed acceptance and no health questions.
Suits: Funeral costs, from 50 to 80
Life insurance for smokers
The same cover, priced for nicotine. Honesty keeps it paying.
Suits: Smokers, vapers and nicotine users
Why choose family income benefit?
It feels like a salary. Money arrives regularly, so the bills keep getting paid without a big sum to manage.
Often good value. The total you’d get falls as the years pass, so it usually costs less than a lump sum that pays the same overall.
Easy to size. Start from what your family needs each month, not a guess at a big number.
We compare it for you. Quotes from a panel of UK insurers, side by side, with no fee from us.
Cover from names you know.
Compare a panel of recognised UK insurers through one clear, straightforward application.
What’s covered, and what isn’t.
The short version. Your policy documents have every detail, and we’ll go through them with you.
Usually covered
- Death from illness or an accident during the term
- A terminal illness, if you’re expected to live less than 12 months
- Anywhere in the world, on most policies
Usually not covered
- Death after the policy ends
- Any income after the end of the term
- Suicide in the first 12 months
- Anything you didn’t tell the insurer when you applied
The income runs only until the date the policy was due to end. Die in the final year, and your family gets a year’s income, not the full term’s.
How it works.
Three steps, online, with a person on the phone if you want one.
Step 1Work out the monthly amount.
What would your family need each month to keep going without your income?
Step 2Choose how long it runs.
Often until your youngest child is likely to leave home or finish education.
Step 3Compare, apply, covered.
Choose from the quotes. The insurer checks your answers, and cover starts the day they accept you.
Family income benefit questions.
Short answers to what people ask most, before they buy.
Is the income taxed?
The income isn’t subject to Income Tax. Like other life cover, it can be written in trust to keep it outside your estate for Inheritance Tax.
Can my family take a lump sum instead?
Many policies let them swap the remaining income for one lump sum. It’s usually less than the monthly payments would add up to.
Does the income keep up with prices?
Only if you choose it. Index-linked cover rises each year, for a higher premium; level cover pays the same amount throughout.
How is it different from level term?
Level term pays one fixed lump sum whenever you die in the term. Family income benefit pays an income for whatever time is left, so the total falls as the years go by.
Can I have it alongside other cover?
Yes. A common mix is decreasing term for the mortgage and family income benefit for the everyday bills.
Already have a policy?
Claims and changes are handled by your insurer: their number is on your policy documents. If you arranged it through us, call us on 01302 590 852 and we’ll help you find the policy and the right people.
For a claim, it helps to have:
- The policy number
- A death certificate, or the doctor’s report for a terminal illness
- The details of the executor or the trustees
- Bank details for the payments
Claim through the insurer
Their claims number and online form are in the policy documents. Most claims start with one call, and they’ll guide you from there.
Ask us to help
Can’t find the policy, or the insurer? Call us on 01302 590 852 and we’ll find it with you.
Useful information
Changing your mind
You have 30 days after your policy starts to cancel for a full refund of anything you’ve paid.
If an insurer fails
Life insurance is protected by the Financial Services Compensation Scheme (FSCS), which covers 100% of a claim if an insurer can’t pay. See fscs.org.uk.
Support for bereaved parents
A surviving parent may be able to claim Bereavement Support Payment. See gov.uk.
Still need support?
Not sure whether monthly or a lump sum suits your family? Ask a real person, with no sales pitch and no fee from us.
Monday–Thursday 9am–7pm, Friday 9am–3pm
