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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.
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.
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.
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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5.00 Rating14 Reviews
Anonymous
Great service! Very informative and responsive. Made the process for a first time buyer straight forward and went smoothly
2 months ago
Duncan
Professional all the way. Excellent advice from Wayne followed by excellent administration by Anna to complete the transaction. Would recommend.
1 year ago
Martin
Excellent Staff and Service, I would definitely use them again They were very helpful all through the process of my remortgage providing me with the best deal and assisting with any issues or concerns i had, very prompt on replies to my calls and...
2 years ago
Kayleigh
Joe and Chloe have been so helpful sorting out our remortgage. They did all the hard work. I would highly recommend Durham Money Man to anyone! Fab job guys!
2 years ago
Karen
Was very professional and very helpful.
2 years ago
Anonymous
We are very pleased with the service we received. Everything was very simple and the mortgage brokers done everything for us. The mortgage deal they found was significantly less than any we could find ourselves, so it's worth paying the broker fee...
2 years ago
Niall
Fantastic service! Amazing advice and guidance throughout my mortgage application. Would recommend Durhammoneyman to anyone!
3 years ago
Sarah
Durhammoneyman have been an absolute lifesaver in helping me to get a mortgage. Their support, advice and assistance throughout the process has been above and beyond what I could have expected. Without them I would not have been able to navigate...
3 years ago
Donna
I cannot fault the service I have received from Leo, Wendy and the team. They have made a potentially stressful process very easy, offering support and guidance throughout. I would recommend this team to anyone in need of mortgage advice. Thank...
4 years ago
Sandra
Matt was first of all hugely understanding and quite reassuring in what I knew would prove a difficult task! Under 2 years self employment history, trying to gain a second family home without selling the first and possessing a buy to let which also...
4 years ago
Louis
I had a complex situation and I was nervous about the whole thing. Chris worked his magic and got me a mortgage offer within 2 weeks. I was amazed. Working full time I found the evening appointments terrific.
5 years ago
Michelle
Thank you to Laura and Matt who worked seamlessly to get my remortgage offered. I’m really happy with my new deal, much better rate than what my bank were offering.
5 years ago
Mary
My mortgage broker was easy to get hold of and efficient. Overall my experience was good value for money. As a first time buyer I felt I had support throughout my purchase.
5 years ago
Daniel
We rang these guys when we had been promised a mortgage by our Bank who then changed their minds. To be honest we didn’t know whether or not we’d be able to get a mortgage but during the first call with Durham Moneyman we felt they understood...
5 years ago
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 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.
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.
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.
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.
We will search through 1000s of insurance products in order to find the most sitable one that suits your personal and financial situation.
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.
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.
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.
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.
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Durhammoneyman.com & 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 www.register.fca.org.uk
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Durhammoneyman.com & 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 www.register.fca.org.uk
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