Income protection insurance
If you’re looking to cover your mortgage or other debt, you need to buy a life insurance policy that pays out a lump sum if you die, so that your entire debt is paid off. However, if you’re protecting your partner or family, you don’t need to buy a policy that delivers a lottery-sized payout. After all, how many people have the skill to invest this money wisely to replace the income of a deceased partner or parent? Furthermore, big payout’s mean big monthly premiums!
If you want to provide your partner or dependants with an income if you die before collecting your pension, family income benefit (FIB) may be the right policy for you.
For more information, please contact us