Protect your family’s financial security for the future
If you died or became seriously ill, your family’s financial situation would change significantly and they will probably face a drop in income and might have short & long term expenses to pay. We will pay a guaranteed income to your family, as well as pay numerous other costs that will effect their possible change in circumstances.
If you couldn’t work, or you passed away, a life insurance payout would help your family’s finances. They could use the money to pay off debts, like the rest of your mortgage.
Family life insurance isn’t a standalone policy, plan or product. It just refers to a life insurance plan.
✔ Upto 60% of your salary before tax per month, up to a payment of £5,000 per month
✔ And then 50% after this, capped at a payment of £16,666 per month.
Because it’s tax-free, this should replace most of your salary.
Why you need Family Income Cover?
You might have Life Cover to pay off the mortgage but the average family’s mortgage makes up 18% of their monthly spend. The rest goes on other living costs. As well as a home to live in, your family needs an income to meet their monthly living costs or to maintain their standard of living. Family Income Cover helps you look after your family’s living costs if something happens to you. It can be taken out alongside Life Cover, Serious Illness Cover or Income Protection Cover
What’s the best type of life insurance cover for my family?
Below are some of the award-winning cover options that we offer. You can choose one
plan, or combine options so it’s personalised for you and your family.