Family income benefit is designed to provide a regular, tax-free income to the policyholder's family or beneficiaries in the event of the policyholder's death. This cover is especially valuable for families with younger children, as the costs of raising a family don’t stop just because a parent/guardian has died. 

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Unlike traditional life insurance which pays out a lump sum upon the insured person's death, family income benefit provides a regular income for a specified period, covering ongoing living expenses.
 

Key points:

• Regular Tax-Free Income: Family income benefit provides a tax-free income to the policyholder's family or beneficiaries in the event of their death, ensuring financial stability during a challenging time.

• Flexibility in Coverage Duration: Policyholders can choose the length of the income benefit period, ensuring it aligns with their family’s needs and financial goals.

• Peace of Mind: Having this type of coverage provides reassurance that loved ones will have financial support to maintain their standard of living, even in the face of unexpected loss.

• Customisable Options: Many policies allow for additional features, such as increasing the benefit amount over time or adding critical illness coverage, enhancing the overall protection for families.