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Last Updated: 22nd July 2026
Family Income Benefit is designed to provide your loved ones with a regular tax free income if you pass away during the policy term. Instead of receiving a one off lump sum payment, your beneficiaries receive monthly payments until the end of the policy term, helping to maintain financial stability when they need it most.
The regular income can be used to help cover everyday living expenses, mortgage repayments, household bills, childcare costs or other ongoing financial commitments. This can provide reassurance that your family has continued financial support while they adjust to life without you.
Family Income Benefit may be worth considering if your loved ones rely on your income to cover everyday living costs and future financial commitments.
Parents With Young Children
Help provide your family with a regular monthly income to support childcare, education and everyday household expenses.
Homeowners
Help your loved ones keep up with mortgage repayments and other ongoing financial commitments if you’re no longer there.
Couples
Whether you’re married or living together, Family Income Benefit can help provide continued financial support for your partner.
Main Income Earners
If your household depends on your income, Family Income Benefit can help provide financial stability for your family during a difficult time.
Anyone Looking for Ongoing Financial Support
Rather than a single lump sum payment, Family Income Benefit provides a regular income, helping your beneficiaries manage their finances over time.
Protecting what matters most doesn’t have to be complicated. Our experienced protection advisers will take the time to understand your needs and help you find cover that’s tailored to your circumstances, giving you confidence and peace of mind.
For many families, receiving a regular monthly income can be easier to manage than a single lump sum payment. Family Income Benefit is designed to provide ongoing financial support, helping your loved ones maintain their lifestyle and meet everyday expenses if you’re no longer there.
Regular Monthly Payments
Provides a dependable income to help support your family throughout the remaining policy term.
Help With Everyday Expenses
Assist with mortgage repayments, household bills, childcare costs and other essential living expenses.
Supports Long Term Financial Stability
A regular income can help your loved ones plan ahead and manage their finances with greater confidence.
Tailored to Your Family’s Needs
Choose a level of cover and policy term that reflects your family’s circumstances and future financial commitments.
Peace of Mind for the Future
Knowing your family could continue receiving financial support can provide reassurance that they’re better protected if the unexpected happens.
When arranging your Family Income Benefit, we discuss placing your policy in trust as standard. Depending on your circumstances and the type of trust used, this may help ensure the benefits are paid to your chosen beneficiaries and may help keep the policy benefits outside your estate for Inheritance Tax purposes.
Placing your policy in trust can also help ensure that the financial support provided by your policy reaches your loved ones without unnecessary delays.
Family Income Benefit is a type of life insurance that provides your loved ones with a regular tax free monthly income if you pass away during the policy term. Instead of paying a single lump sum, it provides ongoing financial support until the policy ends.
If you pass away during the policy term, your beneficiaries will receive regular monthly payments until the end of the agreed term. These payments can help cover everyday living expenses, mortgage repayments, household bills and other financial commitments.
Your loved ones can use the monthly payments however they choose. Many families use them to help with mortgage repayments, rent, household bills, childcare costs, education expenses or maintaining their standard of living.
Family Income Benefit may be suitable for parents, homeowners, couples and anyone whose family relies on their income. It can provide valuable financial support to help your loved ones manage ongoing expenses if you’re no longer there.
The amount of cover depends on your family’s monthly living costs, mortgage repayments, existing financial commitments and how long you’d like the payments to continue. A protection adviser can help you choose a suitable level of cover.
Yes. Some people choose to combine Family Income Benefit with life insurance to provide both a regular monthly income and a lump sum payment, depending on their family’s financial needs.
Yes. We will discuss placing your Family Income Benefit policy in trust as standard. Depending on your circumstances and the type of trust used, this may help ensure the policy benefits are paid to your chosen beneficiaries and may help keep the benefits outside your estate for Inheritance Tax purposes.
Placing the policy in trust can also help ensure the benefits are directed to your chosen beneficiaries in line with the terms of the trust.
At Mortgage Experience, our experienced protection advisers will take the time to understand your family’s needs and explain your options clearly. We’ll help you compare suitable policies and recommend Family Income Benefit that’s tailored to your circumstances and budget.
Planning for the future means more than preparing for today. Family Income Benefit can help provide your loved ones with ongoing financial support, giving them greater stability if you’re no longer there. At Mortgage Experience, our experienced protection advisers will take the time to understand your family’s circumstances and recommend Family Income Benefit that’s tailored to your needs and budget. We’ll explain your options clearly, answer any questions you have and help you choose cover with confidence. Get in touch today to arrange your consultation and discover how Family Income Benefit could help protect your family’s financial future.
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