FAMILY INCOME BENEFIT
Continued Benefit For Your Family
Providing Your With Peace Of Mind
Roots Contractor Mortgages offers a variety of Protection policies to help keep our clients protected.
Our protection policies are tailored to fit the employment patterns of contractors. Our aim is to find you a policy that fits your situation perfectly, offering you suitable protection in the case of specific events.
Family Income Benefit
Though never a nice thought, if the worst happens to you, making sure your family is able to remain financially stable should be a priority.
This is what Family Income Benefit is able to provide. This type of protection replaces lost income for a family in the instance of a person’s passing.
Family Income Benefit typically covers a set number of years. If a person does die during this period, then a payment is made to the family each year for the rest of the period of cover.
Roots Contractor Mortgages can help you find the perfect Family Income Benefit policy for you and your loved ones.
What should I consider before arranging family income benefit?
How much income your dependants will need. How long you’d like the cover to last. Frequency of pay outs.
How does it work?
The policy will pay out of the policyholder dies during the term of the policy. Example – if you took out a 20 year policy which is designed to be in place until your eldest dependant turns 21 years old and you died after 5 years, your policy will pay an income for the remaining 15 years.
What if I want my family to benefit from a larger one-off payment?
A standard life insurance product may be more suitable in this case.