Family Income Benefit is a type of life insurance policy, where it's different from basic life insurance is that it pays out a regular monthly income, rather than a lump sum. This may appeal to families with young children, particularly where one parent is the primary earner, as it provides a regular income, often with cheaper premiums than other life insurance policies.

You'll have peace of mind that your loved ones will still be able to cover monthly outgoings if something happens to you.

Small girl hiding behind her jacket and laughing

What Do I Need To Think About?

How much income will your dependants need? Think about possible future family living costs as well as your current outgoings. How long do you want the cover to last? Often, people who take out family income benefit choose the policy term to run until their children are financially independent. Frequency of pay-outs? You'll need to decide whether you'd like your family to receive a regular monthly income, or if you'd rather they had a lump sum.

Rettie Financial Services Ltd is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.

Rettie Financial Services Ltd. Registered Office Address: Deuchrie, Dunbar, East Lothian, United Kingdom, EH42 1TG. Registered in Scotland Number: SC711925.

There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

For insurance business we offer products from a choice of insurers.

Your home may be repossessed if you do not keep up repayments on your mortgage.