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FAMILY INCOME BENFIT COVER - From Life Assurance UK
Family Income Benefit Insurance...Family income benefit plans are commonly used for family protection. However, rather than producing a lump sum should you die during the selected term (as is the case for level term cover), the policy produces a regular tax free income for your dependants for the remainder of the plan term. The amount of 'income benefit' usually remains level over the plan term selected, although you can request that benefits increase in line with inflation as an optional extra. This is a good way of ensuring that you can maintain a certain level of income relative to the value of your money x years from now. Family Income Benefit Cover with CIC...Often, people like to couple Family Income Benefit Insurance with Critical Illness Cover. This additional cover will provide protection for your mortgage payments should you develop a serious illness such as cancer , cardiac problems, or a number of other conditions listed on the policy.
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