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Family Income Benefit

At Austin Friars Financial, we understand the importance of safeguarding your family's financial future, and that's why we offer Family Income Benefit (FIB) as one of our comprehensive life insurance solutions.

Family Income Benefit provides your loved ones with a regular and dependable income in the unfortunate event of your passing. Rather than a lump sum payout, your beneficiaries receive a fixed monthly or annual income for the duration of the policy term. This regular income stream can help your family maintain their standard of living, cover essential expenses, and provide ongoing support when they need it the most.

With Austin Friars, you have the flexibility to choose the policy term that suits your family's needs, typically ranging from 10 to 30 years.

We also offer fixed premiums, ensuring that you can plan your budget effectively and have peace of mind knowing your coverage is secure.

Additionally, our FIB policies come with several valuable additional features to enhance your protection:

  • Indexation: We offer the option of indexation, where the income payout increases annually by a predetermined percentage or in line with inflation. This ensures that the purchasing power of the income remains stable over time, accounting for the changing economic landscape.

  • Conversion Option: Our policies may include a conversion option, allowing you to convert your Family Income Benefit plan into a lump sum payout policy at specific points during the policy term. This added flexibility can be beneficial if your circumstances change.

  • Terminal Illness Benefit: Just like our other life insurance offerings, FIB includes a terminal illness benefit. In case of a terminal diagnosis during the policy term, you may have the option to receive a portion of the income benefit in advance to address immediate financial needs.

  • Waiver of Premium: We provide the option of a waiver of premium feature. If you become unable to work due to a disability or illness, this feature ensures that your premium payments may be waived, allowing your policy to remain in force without additional financial burden.

At Austin Friars Financial, we are dedicated to providing personalized solutions that align perfectly with your family's financial goals and needs. Let us help you create a Family Income Benefit plan that offers reliable and ongoing financial support, securing your family's future with a plan built on trust and reliability.

Contact us today to explore the possibilities of Family Income Benefit and take the first step towards a worry-free tomorrow. Your family's financial well-being is our top priority, and we're here to support you every step of the way.