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You’ve probably set up life insurance for many of your clients to cover those larger financial liabilities like a mortgage. That lump sum payment may be vital to keep a roof over their heads. But a family will still struggle to meet day-to-day living costs even if the mortgage has been paid off.
Family Income Benefit is an affordable way to plug this protection gap for your client.
It’s designed to pay out a tax-free monthly income until the end of the term, on the death of the life assured or diagnosis of a terminal illness. It’s available as part of our Flexible Protection Plan – either on its own, or combined with other policies. As a menu plan, our Flexible Protection Plan allows you to mix and match different types of insurance options for your clients.
The main features of Family Income Benefit include:
We know that being a respected provider isn’t just about the right product – but also about offering the right support. We place you and your clients at the heart of all we do:
We’re here for your clients when they need us most. Your clients and their spouse/partner have access to 6 expert medical advice services through LV= Doctor Services – all accessible by app or phone:
With Family Income Benefit, your client agrees to become a member, meaning they're entitled to exclusive benefits and support at no extra cost:
We offer a clear and fair approach to paying claims – and believe anyone can be affected by terminal illness, regardless of age or lifestyle.
We’re proud to have paid 99%** of Life Protection claims in 2020. A successful claim is as important to your client as it is to you - your clients get vital financial help when they need it most and you feel confident in the provider you recommended.
* Includes claims already in payment in 2020 for Income Protection and Personal Sick Pay.
**Our life insurance figures include claims paid for Life Insurance, Terminal Illness. and some guaranteed whole of life policies. Our whole of life policies are no longer available.
Fastway - our quote and apply system – makes it easier to protect clients. It’s a fast and flexible application journey and gives you an immediate underwriting decision.
Our UK-based team collect accurate information, reducing the risk of non-disclosure and taking the worry and responsibility away from you. Avoid long delays with GP reports - so your client could be underwritten and accepted quicker.
Learn more about Fastway.