jhon paul

Member
A Family income benefit policy will allow your family and loved ones to continue to live as they would have done before knowing that they have a guaranteed to a certain point. Generally, family income benefit policy is for families with dependent children to provide a cheaper alternative family life insurance. Mainly this policy works as same way as any other life insurance product as it pays a tax-free payment on demise.

A Family income benefit is not a saving account its a protection for financial impact.If you dont demise with in the term or if you demise after the policy there will not be any payout.
 

Mandy96

Valued Contributor
It is actually important to have this kind of benefit . It is basically meant for people with family, it is beneficial in the sense that you will have to receive some amount claimed on every child or dependents in the household. This could be of great help because it will cover some financial aspect
 

Phabbyfundz

Active member
It is very beneficial and important to any family, company or organization to have this kind of benefits. Insurance companies hopes to serves a a source of coverage or risk management to individuals, businesses or companies who acquire this insurance policies from them. Insurance policies has great benefits to individuals who purchase them.
 

Wisdom01

Valued Contributor
It's actually important to consider this type of insurance because just incase the family is facing financial struggles in settling out something , they would easily get coverage for what they are insuring against , I would make proper research on this type of insurance policy because it's related to comprehensive life insurance policy
 

MOSIUR

Active member
From your words, it is clear that family income benefit policy is a protection for a family with dependent children. It is really necessary if it helps the family in time danger. At any time, the danger may come and so, preparation like getting insurance facilities is needed from everyone of us. Family is the first one to consider here.
 

btaliat

VIP Contributor
This kind of insurance is the most important insurance policy for a family who have many dependant. Those issues will only be covered by those insurance companies. The only thing is that the premium on these insurance policy may be too much consider the benefit that this insurance policy will offer.
 

Nite

Valued Contributor
Family income benefit policy is a little known form of life insurance. It offers a cost effective way of arranging the financial cover for your loved ones. Let's say, if you pass away, Family income benefit will provide regular income for your family rather than a lump sum money. Also the payments are tax-free here.
 

Abigael

Valued Contributor
This is my first time to learn about a family income benefit. From what you have said, it looks important to have one. Especially for the sake of those dependant children. Now, I don't understand if the family will receive this benefit the moment the breadwinner dies or can you take it amidst any financial problems?
 

Wisdom01

Valued Contributor
From your words, it is clear that family income benefit policy is a protection for a family with dependent children. It is really necessary if it helps the family in time danger. At any time, the danger may come and so, preparation like getting insurance facilities is needed from everyone of us. Family is the first one to consider here.
Exactly it really helps the family in danger and most times situation where they might need funds to cover some kind of things ,the only issue with the policy is I don't know if the insurance policy also covers family health risk, because there is health insurance already too , I really do want to know
 
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