Family Income Benefit
If you require more specific help on this or any other of our products, please contact us either by email or telephone. To obtain a quote select "Get Quote"
What is Family Income Benefit?
Most policies pay a claim in the form of a lump-sum. It may suit you to have a policy that pays regular instalments or "income" after a claim. For protecting a child's interests you may prefer to provide an income of £10,000 a year up to the age of 21 rather than leave a lump sum of say £100,000. Ask us how family Income Benefit might suit your circumstances.
Will the insurance payment be subject to tax?
Under the present rules, no tax will be deducted from the claim payment. However, depending on your individual circumstances, life insurance claims may be subject to inheritance tax as part of your normal estate and that the level's, basis and relief's from taxation may be subject to change. (Please contact us to see whether or not the policy can be written under trust to avoid part or all of the benefit being subject to inheritance tax).