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 Tel: 020 7060 1996 Fax: 020 7060 1997 E-mail: info@rmwm.co.uk
Principal - Marco Pietropoli |
Family Income Benefit
This type of policy is Decreasing Term Life Assurance designed to pay an income rather than a Lump Sum (although a lump sum can be taken).
It Pays a regular sum (e.g. monthly) from claim until the end of the policy term. This is designed to act as a replacement income, to care for dependents for a given length of time. For example, a 25-year policy with life cover of £2,000 per month, (benefits and premium indexed by R.P.I.), for a thirty year-old male non-smoker will cost around £22.24 per month at current rates.*
*Research was done on 13/08/2007.
Indexation of benefit should always be considered for such policies to ensure future benefit levels are not eroded by inflation.
Since the possible claim decreases over time, the total risk to the Insurance Company is reduced making the policy premiums a very cost effective way of providing good cover for dependents.
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