Family Income protection is an insurance policy that pays out a regular income, usually to a policy holder’s family, following the policy holder passing away. It can be used so the surviving spouse/family members don’t have to lose the income they’d been used to receiving when the policy holder was alive and contributing to the household. 

Family income protection policies are typically taken out by people who have dependents, such as children, so that their loved ones can continue to maintain their standard of living if the policyholder has passed away.

Policies can be set up so that they pay out for a specified period of time, for example, until the children are no longer in education. Premiums for family income protection policies are typically based on the policyholder’s age, health, occupation and salary. 

Get in touch today to discuss your protection needs and your option.