Family with Family Income Benefit

Family Income Benefit

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Family Income Benefit 

Family income benefit is a form of life insurance that is designed to replace your monthly income if you die.  Part of a set of policies known as term life insurance, family income benefit will pay out until the end of your stated insurance term.

So, that’s all the basics.

Do you have a young family?  At Black Lion Insurance, we know that your number one priority is to keep your children safe from physical and emotional harm.  Effectively, you’ll do whatever it takes to protect them.  Without a doubt, this instinct runs through our parental DNA like the letters in a stick of Brighton rock.

Financial protection matters, too

None of us want to anticipate disaster.  Nonetheless, have you made adequate financial provision for those coming up after you in a worst-case scenario? 

Without a doubt, raising children is expensive. Moreover, young adults leave home later than they used to.  Sometimes, they even return to the fold after college.  Without a doubt, family life is expensive.  There’s just no getting away from it. 

It’s important to consider how best to provide for your young loved ones should you or your partner die before they become financially independent.

At the top of your list could be advice from Black Lion Insurance about the best and most appropriate type of Family Income Benefit.  In our opinion, it could be the answer you’re looking for. 

More About Family Income Benefit

Family Income Benefit (FIB) is a type of life insurance that in the event of your death pays a regular, fixed amount of money to your dependents, tax-free.  (It differs from whole of life cover, which provides a lump sum)

In summary, you decide how long you need the cover for and how much your dependents require each year.  You can buy it jointly – you and your partner – or as a single policy.

Should you or your partner die, payments to the value of the cover will be made until the end of the term of the insurance. Also, there are no conditions regarding the use of the money, so your loved ones can use the it in any way they see fit.

However, should the policy term end and (thankfully) you are still hale and hearty, no payment will be made.

Nonetheless, you may also wish to consider adding Critical Illness Cover to Family Income Benefit.  In this way, you could also benefit from a one-off payment in the event of certain serious illnesses being diagnosed.

If you need FIB, you may need Black Lion Insurance

Did you know that this type of insurance is generally more affordable than other more traditional policies on the market?  Obviously, you still need good value for money.  So, let us do all the hard work for you.

The team here at Black Lion is all about educating and helping busy people like you who need advice and guidance. For this reason, we’ll research the most appropriate policies to cover all your needs.  And, because we’re very client-focused, the decision will always be yours.  

You won’t pay too much – or too little.  Payments will reflect your age, health and whether you smoke or not.  And, another key point, we’ll take care of all the paperwork, too.

As our customer, we want to offer 5-star service every step of the way.

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What our clients are saying

Black Lion insurance were great in helping me get through the countless jargon and pitfalls when it comes to setting up insurance. I was thankfully recommended to them by a colleague and they made the process seamless ensuring I have the most appropriate policy for me.

I’m an IT contractor and I wasn’t sure if I was eligible for this cover, however, to my delight, not only could I have the cover, but I could pay it through my Ltd company. I was covered within an hour of getting in contact. Very prompt and informative service!
Sanjay P

Polite and very clear when explaining my product of interest. Happy to answer any questions and recap on areas that I wanted to ensure I understood clearly before committing. Didn’t feel pressured or rushed at any point and the chap was very pleasant.
Donna Rudd

About Us

Part of Halo Consulting, Black Lion Insurance are a dedicated team of insurance consultants with years of experience in guiding our clients to a solution that meets their specific needs. We specialise in helping both employed and self employed individuals, as well as business owners on a variety of solutions, which range from life insurance, income protection insurance, keyman insurance and shareholder protection insurance.