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Family Income Benefit

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Affordable Life Cover with Ongoing Monthly Support

If you’re looking for a simple, low-cost way to protect your loved ones financially, Family Income Benefit could be the ideal solution. Unlike traditional life insurance that pays out a lump sum, this policy provides your family with a regular, tax-free monthly income if you pass away during the policy term — helping to maintain their standard of living without financial stress.

At Park Hill Financial, we help you set up Family Income Benefit policies that deliver long-term security for your dependants, without the complexities of managing a large lump sum payout.

What Is Family Income Benefit?

Family Income Benefit is a type of life insurance that pays out a monthly income from the time a claim is made until the end of the policy’s term. Instead of receiving one large lump sum, your family receives steady, predictable payments, which makes it easier to cover:

  • Mortgage or rent
  • Household bills and living expenses
  • Childcare and education costs
  • Day-to-day financial commitments

This policy is often the most affordable form of life cover, making it an excellent option for young families or budget-conscious individuals.

Key Features

  • Provides a tax-free monthly income to your family
  • Lower premiums than traditional lump-sum life insurance
  • Helps cover ongoing living costs
  • Payments continue until the end of the policy term
  • Flexible policy length and benefit amount
  • Option to add critical illness cover for extra protection

Because the payout decreases over time (as the remaining term shortens), it keeps costs low — while still offering vital financial support if it’s ever needed.

Why Choose Family Income Benefit?

Many people find a regular monthly income easier to manage than a large, one-time payment. It avoids the pressure on grieving family members to invest or allocate funds from a lump sum, and instead provides consistency and reassurance at a time of emotional and financial uncertainty.

It’s ideal for:

Young families who rely on a single or joint income
Parents looking to protect their children’s future lifestyle
Couples with joint financial responsibilities
Anyone seeking affordable, straightforward protection

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Why Work with Park Hill Financial?

Protecting your loved ones’ financial stability gives you peace of mind for the future. At Park Hill Financial, we:

  • Explain how Family Income Benefit works and how it can support your household.
  • Compare policies from leading insurers to find the best value and cover level.
  • Tailor plans to ensure your family receives regular, tax-free income if the unexpected happens.
  • Handle the full application process smoothly and efficiently.
  • Provide ongoing advice to keep your protection in line with your family’s changing needs.

We’re here to make protecting your family simple and affordable.

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