Life insurance Family Income Benefit Policy

[Nite]

Family income benefit plan is a type of life insurance that aims to pay a regular monthly income for a set period of time to your loved ones in case if you die. Death is not something we would like to think about, but sadly it's inevitable, and when it happens it causes financial worries at an already stressful time. Family income benefit policy is there to reduce all your financial stress.

Everybody is already familiar with the standard life insurance paying a single tax-free lump sum. Family income benefit plan pays a series of tax-free smaller monthly amounts, which may become more helpful to your family for covering all the regular and on-going bills and payments.

While applying for a Family income benefit policy, the younger you are and the healthier your lifestyle, the lower your insurance premiums will be. Most people find Family income benefit plan to be an affordable alternative to the standard life insurance plan, because the amount that insurer have to pay on loved ones death reduces overtime.

 

[Dasryny]

Wow, I didn't even know there was one!

 

[Mika]

A whole life insurance policy is a policy that will benefit the beneficiary of the insured person. Let's say you bought the whole life insurance policy, you regularly pay premimums, and then one day you die. Upon your death, your beneficiary will receive the benefits. When people buy a whole life insurance policy, their beneficiary is always their kid or spouse. This policy will help your surviving family members with the finances. If you have a family (kids and spouse), you should definitely buy this insurance policy. The financial coverage your family receives after your death will help fund your child's education, or help with the finances for your spouse.