Family Income Benefit

Young mother with baby

Family income benefit life insurance pays out a guaranteed, tax-free, regular indexed income, usually on a monthly basis, in the event of your death. It is ideal if you wish to provide for an income until a certain point for example, until your children have completed their education.

The income starts the month after your death and is normally payable monthly thereafter for the remaining period of the term. For example, if your policy had a 20-year term, and you died after 3 years, the regular tax-free payment will be paid out for 17 years.

It can provide a guaranteed regular income to look after your family. Contact me for advice or a no-obligation personal quote.

Geraldine’s Story

In 2010, Geraldine needed some financial advice and a friend of hers, who was already a client of mine, recommended me to her.

In my discussions with Geraldine, she told me about her situation and history and I asked her if she would be kind enough to do this short film.

Her hope in telling her story is that it may prevent other families from finding themselves in the situation she found herself in when her husband, who had previously never had a day’s illness in his life, died of cancer only 4 months after being diagnosed.

On her husband’s death, the mortgage was paid off, but he had no other life insurance. In particular, he had no family income benefit life insurance.

In Geraldine’s own words: "I can’t tell you what a huge difference that would have made if only Ted had had that cover."

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What do our clients think?

We used Dave from NWIA to sort out life and critical illness cover for us. We were very impressed with the service we received - Dave took the time to find out exactly what we wanted and then found the cover that suited us perfectly. He also went through everything the insurance covered in detail to make sure we understood and answered any questions we had thoroughly. The insurance he recommended was cheaper for the two of us than quotes we had from other companies for just one of us. We would not hesitate to use Dave again and would recommend him to anyone.

Mr D Davies & Miss M Jones, Llangollen

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