Family Income Benefit is a type of life insurance policy. Similar to basic life insurance, it delivers peace of mind that your loved ones will still be able to cover monthly outgoings if something happens to you.

It differs from basic life insurance in that it can pay 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.

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

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What do I need to think about?

Think about how much income your dependants will need and how long you want the cover to last. When doing so, consider possible future family living costs as well as your current outgoings. Often, people who take out family income benefit choose the policy term to run until their children are financially independent.

You’ll also need to consider the frequency of pay-outs – specifically, would you like your family to receive a regular monthly income or a lump sum?

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    At Rettie we understand.

    At Rettie Financial Services we understand that everybody’s situation is unique. That’s why we’re with you every step of the way. Whatever your mortgage, insurance or other financial needs, and however complex your circumstances, we have the expertise and experience to provide a tailored service that will deliver for you.

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    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.