Family Income Benefit

Ongoing support for your loved ones, even when you're gone.

Rather than a one-off payout, Family Income Benefit provides your family with a regular, tax-free monthly income if you pass away during the policy term. It’s designed to help them maintain their lifestyle and manage everyday expenses.

Equip Yourself with Financial Resilience

If you're ready to explore what a complete Protection Package may look like for you, let's chat.

Book your Protection Strategy Call here

Who Should Consider Family Income Benefit?

This cover might suit you if you:

Who Should Consider Family Income Benefit?

This cover might suit you if you:

Have young children or a partner who depends on your income

Prefer a monthly income to a lump sum payout

Want to replace lost earnings over a fixed term (e.g., until your children turn 18)

Are looking for a cost-effective way to protect your family’s financial future

How Does Family Income Benefit Work?

Monthly Payments

Instead of a lump sum, your family receives regular monthly income—just like a salary.

Set Policy Term

You choose how long the income would be paid for—e.g., until your children reach adulthood or your mortgage is repaid.

Affordable Premiums

Because it pays out in monthly instalments, Family Income Benefit tends to be more affordable than traditional Life Insurance.

Tax-Free Income

The payments your loved ones receive are free of income tax.

What is Family Income Benefit?

It’s a type of Life Insurance that pays your family a monthly income rather than a single lump sum. It’s ideal for covering ongoing household costs like food, bills, and education.

Is Family Income Benefit better than Life Insurance?

Not better—just different. If your family would struggle to manage a lump sum wisely or needs consistent monthly support, Family Income Benefit might be a smarter choice, or a combination of the two.

How long does Family Income Benefit pay out for?

You choose the length. For example, if you take out a 20-year policy and die in year 5, your family would receive payments for the remaining 15 years.

Can I take out both Life Insurance and Family Income Benefit?

Absolutely. Many families use a combination of both for layered protection.

Helping Mortgage Clients in Broadstairs, Thanet & Beyond

We’re proud to support homebuyers, movers, and landlords across Kent—from Broadstairs, Margate and Ramsgate to Canterbury, Herne Bay and further afield. Wherever you are in your property journey, we’re here to help.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

IMPORTANT: With investments, your capital is at risk. Pensions and investments can go down in value as well as up, so you could get back less than you invest.

Need Financial Planning Ltd is registered in England and Wales no. 10901658. Registered office, 123 High Street, Broadstairs, Kent, CT10 1NQ. Authorised and regulated by the Financial Conduct Authority. Need Financial Planning Ltd is entered on the Financial Services Register https://register.fca.org.uk/ under reference 977136. If you wish to register a complaint, please write to [email protected] or telephone 01843 228800. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234 567.