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Family Income Benefit in Durham

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Family Income Benefit in Durham

Explore Family Income Benefit options that help with financial stability in unforeseen circumstances.

0191 303 9786

Family Income Benefit Durham

Family Income Benefit Insurance offers financial protection if you pass away during the policy term. Payments to your family are interest-free.

Similar to traditional life insurance, you can choose the term length, with longer terms resulting in higher monthly premiums. If you pass away near the term’s end, your family receives fewer payments, matching the remaining years.

The cost of your policy depends on factors such as term length, lifestyle, age, and medical history. Your insurance advisor in Durham will provide personalized cost details and guidance. For more information and tailored protection and mortgage advisor in Durham, speak to a mortgage advisor in Durham.

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Family Income Benefit in Durham

Do I need Family Income Benefit Insurance?

If you’re concerned about providing financial support for your family after your passing, Family Income Benefit Insurance may be the ideal solution. This policy is particularly valuable for families with young children, offering them a steady income stream in the event of your demise.

One significant advantage of Family Income Benefit Insurance is its potential for more affordable premiums when compared to traditional Life Insurance policies. Additionally, individuals can choose to bundle Critical Illness Insurance with their Family Income Benefit coverage, often resulting in cost savings compared to purchasing them separately.

As a mortgage broker in Durham we are dedicated to helping you identify the perfect insurance policy tailored to your unique financial situation. If you’re considering multiple insurance policies, you can explore the option of a menu plan, which combines various coverage types for comprehensive protection.

Feel free to reach out to our experts for guidance and to explore the best insurance options for your family’s financial security.

What is family income benefit in Durham?

Family Income Benefit (FIB) in Durham, is not typically paid out as a lump sum. It is designed to provide regular, tax-free income to your family or beneficiaries if you pass away during the policy term. This regular income is meant to help replace the lost income and support your family’s financial needs over the duration of the policy term. FIB ensures that your loved ones receive a consistent stream of financial support rather than a one-time lump sum payment.

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Family Income Benefit FAQs

Can Family Income Benefit in Durham be taken as a lump sum?

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To get more specific details about Family Income Benefit in Durham and how it can be tailored to your needs, it’s advisable to consult with a local insurance provider or mortgage advisor in Durham who can offer guidance based on your individual circumstances.

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Our Simple Step by Step Process

Free 30-Minute Insurance Review

Step 1

Discuss with a dedicated protection advisor about possible relevant insurances you would like to take or that we can suggest to you.

Your protection advisor in Durham will run through you health background with you, gathering some initial information.

We Will Search Through Different Insurance Products

Step 2

We will build a tailored plan surrounding your current personal and financial circumstances, meeting your available monthly budget.

Our team can search through 1000s of insurance products to find the most suitable one, to protect you and your family.

Submit Your Insurance Application

Step 3

Once we have found the appropriate product for you and you are happy to proceed, we will submit your application to the provider.

From time to time, the policy provider may come back to us for further information, before they will look at accepting the application.

Protecting You and Your Family

Step 4

If you took out your mortgage with us too, we will be back in touch with you at remortgage time. We will also take this time to review any policies you have in place.

Circumstances change and the policies you took out at the start of your mortgage, may no longer be suitable for you at remortgage time.

Free Protection Review

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Pick your own date and time and book online!

Providing expert protection advice in Durham7 day a week, to take appointments early in the morning, late in the evening or at the weekend. Alternatively, give us a call and we can refer you to one of our best mortgage advisor in Durham for your situation.

1000's of Deals

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We will search through 1000s of insurance products in order to find the most sitable one that suits your personal and financial situation.

Our Service

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In Durham, we have been helping customers for over 20 years. We have found 1000s of happy customers Family Income Benefit insurance products.

Customer care is at the heart of our company, take a look at some of our fantastic reviews on our reviews page to find out more about our service.

7 Days a Week

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Our team will also go through the policies terms and conditions with you and make sure that you are happy with how it works and when it pays out. They will also look at your term with you and help you decide the length of the policy.

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Finding you the Right Family Income Benefit in Durham

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Common Family Income Benefit Scenarios in Durham

Can I take out Family Benefit Insurance with my partner?

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This type of Family Benefit Insurance/Life Insurance policy is called survivorship or second-to-die insurance. This policy can be purchased jointly.

It pays out when you and your partner die. Couples often take it out to cover repayments, debts such as a mortgage and leave money for their children.

If you’re not sure that you and your children will be able to manage without your partner’s income, this type of Family Income Benefit/Life Insurance is not recommended for you, we would advise that you take out regular Family Income Benefit Insurance.

Does family income benefit need to be in a trust?

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You can write any type of insurance into a trust, however, it will not benefit from Inheritance Tax avoidance.

For more Insurance Protection Advice in Durham, feel free to contact our team; they will be more than happy to help.

Mortgage Guides & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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