Family Income Benefit Insurance

Why choose Howden Life & Health for Family Income Benefit Insurance?

As an insurance broker, we pride ourselves on doing the heavy lifting, so you don’t have to. The great relationships we have with our selected panel of standard and specialist insurers allows us to compare multiple insurance products, on your behalf, simple and straightforward. What’s not to like?

The Howden Life & Health team also recognises that each type of coverage needs to be as individual as its owner, and that’s why we provide a personalised service, focused on getting to know you and finding out exactly what you want from your insurance.

Just know, whether you need to make a claim, purchase a new policy, or renew an existing one, we’re always here to help.

Benefits of working with Howden Life & Health:

• You can trust us – we’re rated Excellent on Trustpilot
• Personal service from professionally qualified advisors
• An outstanding FCA compliance record
• Competitive solutions to for all budgets and affordability
• Supported by the largest panel of Life & Health insurers in the UK
• Knowledge of underwriting and medical conditions

_{Howden Life & Health Limited is authorised and regulated by the Financial Conduct Authority No. 176392. Registered in England and Wales under company registration number 3040737. Office address: Howden Life & Health, Ageas House, The Square, Gloucester Business Park, Brockworth, Gloucester, GL3 4ZP. Registered Office: 1 Creechurch Place, London, EC3A 5AF. Calls may be monitored and recorded for quality assurance purposes.}

What is family income benefit insurance?

Family income benefit, which is often abbreviated to FIB, acts as a type of life insurance product that provides a regular tax-free income to your family if you pass away during the term of the policy.

Rather than paying a lump sum, as with traditional life insurance, FIB pays out a steady stream of income over a predetermined period, helping to replace the lost income of the insured and support their dependents financially.

Before getting a family income benefit insurance policy, you’ll need to consider:

• How often you would like your family to be paid – a lump sum or a regular monthly income?
• The policy term – how long you want the cover to last (perhaps up until your family are financially independent).
• How much income will need to be paid out ­– this will also alter how much your insurance will cost.

This is a niche and specialist type of insurance, so if you have any questions or need any clarity around family income benefit policies, don’t hesitate to get in touch with the Howden Life & Health team. You can either give us a call or submit an enquiry via our website!