Family Protection | Haven Financial Solutions

Personal Protection -> Family Protection

Family Income Benefit (often referred to as "FIB") is a unique type of life cover where instead of leaving a lump sum upon death, a monthly benefit is paid to your chosen beneficiary for a set number of years.

For example, £1,000pcm is paid from when you die until your youngest child is aged 18.

It is an extremely cost effective way to leave your partner/family with a monthly income which they can rely on after you have gone. The money can be used for any purpose, from covering basic living expenses like utilities, food and council tax, to replacing a lost income until pension age.

This policy is particularly popular with parents who even though they may have a mortgage life cover in place, would be unable to work and look after their children single-handedly if their partner were to die. Meaning that although they no longer have a mortgage to pay, they still have all the monthly commitments to meet of running a family home.

The policy is also often used to provide funds for your appointed guardians to use whilst looking after your children. For example to contribute to their education, food and childcare costs.

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Haven Financial Solutions Limited

Head Office
Arena Business Centre
Holyrood Close
BH17 7FJ

01202 082 380