LifeSearch – Family Income Benefit!
I don’t think I’m in the minority of people who don’t like to talk about death, or what might happen afterwards but actually, as a parent sometimes we do have to tackle the tricky things head on and make sure our houses are in order should anything happen to us. Why? Well, because as with anything when it comes to our babes, we want only good thing for them and just as we look after them the best we can in the every day I think we can all stand united in saying that we’d want the very best for them even if, god forbid, we weren’t able to be here with them.
I don’t even really like writing those words down, it frightens me, but at the same time I do know how important it is that I do. and Jonny and I do have life insurance in place yet have been discussing recently if it is adequate enough. It would cover our mortgage but what about the rest and thats why we are genuinely thinking of taking out a second policy and the Family Income Benefit assisted by LifeSearch is just what we’ve be looking for.
Instead of a lump sum immediately, the Family Income Benefit provides the beneficiaries with a regular, tax-free income which can be either monthly or quarterly depending on your choosing and this would be just like receiving a regular wage, perhaps to emulate a wage that may have been lost. The monthly or quarterly income is to help cover the general costs of running a household; something no one wants or needs to think about when dealing with a traumatic situation. It would mean this element of life is taken care of without anyone having to worry.
You would choose the policy term and this would be built into your premiums each month so you could, for example, choose for your policy to run until your children are financially dependent. The way the payments would work would be like this, if your term lasted for 23 years and beneficiaries needed to activate it because someone died one month into the policy then the insurance payouts would begin at the beginning of the term and would begin one month less of the 23 years. If. however, a claim wasn’t made until 10 years into the policy when there was 13 years remaining then the payouts would begin then and last for the remaining 13 years. The payouts begin from the date of the policy holder’s death whenever in the contract term that might be and of course we hope never because we’d rather not die thank you very much but it is the reassurance in the back of your mind knowing that you have it should the need arise.
For parents with young children looking for protection a regular payment as opposed to a lump sum payout means that you can buy your way free of perhaps a potentially overwhelming financial situation for anyone you may leave behind, it is back up, comfort and peace of mind, something worth paying for alone!
LifeSearch is one of the UK’s leading life insurance brokers with an award winning team dedicated to protecting the people we love and allowing them to continue living the lives that they love. It’s the hug you can keep giving for as long as you need.