Family Income Benefit
Family income benefit insurance is a type of term life insurance that will give regular financial support to the family of a policyholder if they die or are diagnosed with a terminal illness. AIG’s Family Income Benefit helps your clients secure an on-going income for their families. With monthly payouts, it eases the burden of bills, making budgeting more manageable for those left behind. If your client’s circumstances change, we make it easy for them to switch from a monthly benefit to a lump-sum payout during the claim.
Why choose AIG
With a monthly benefit paid from point of claim to the end of the policy term, this cover allows your clients to plan for the future, and the guaranteed income gives them the knowledge that monthly mortgage payments could be maintained, household bills could be taken care of or living expenses could be sorted when they’re no longer able to support their family.
Under AIG Family Income Benefit (FIB), your client can choose:
- The monthly benefit;
- Whether the monthly benefit stays at the same level throughout the term of your cover, or increases by 5% of the current monthly benefit each year;
- The term of the cover;
- Whether to take out single life cover or joint life cover (with the benefit payable once); and
- Whether to include Waiver of Premium.
The right solution for a variety of protection needs
There are a number of different scenarios where FIB could provide an ideal protection solution:
Family with young children
A FIB policy could be particularly important to a family with young children. If one of the parents is diagnosed with a terminal illness or dies, a FIB policy may help to protect and maintain the family’s lifestyle by paying for things such as childcare and utility bills. It can ease the financial pressure on remaining family members should the worst happen and allow them to concentrate on supporting each other.
Single parent
If a single parent were to die or be diagnosed with a terminal illness, FIB can help secure the child’s or children’s financial future by providing their new guardian with a regular monthly income. This may help cover their day-to-day expenses such as food, clothes and school supplies.
Full time carer
FIB may also suit someone who has become their loved one’s full time carer. Having this in place means that if your client is no longer around, there is a monthly income available to pay for things such as private home care visits or to help towards paying the utility bills.
Additional benefits
AIG’s FIB also comes with immediate access to Best Doctors and Winston’s Wish. The Best Doctors second opinion medical service can provide guidance on the most appropriate treatment should your client or their immediate family be diagnosed with a serious illness. Winston’s Wish is the UK’s leading childhood bereavement charity, which helps children get the right support when they lose a parent, carer or sibling.
Find out more
To find out more about Family Income Benefit or any other AIG life insurance product, call our Sales Team on 0345 600 6829, email adviser@aiglife.co.uk

Writing your client's policy into trust
If your clients want to put their policies into trust, we’re on hand with example trust documents. This legal arrangement could ensure that money paid out for a claim goes straight to the people it needs to. It could also speed up death claim payments and help mitigate Inheritance Tax liabilities.
We can’t advise on whether putting any policy into trust would be the right thing to do for your clients and recommend they take professional legal and tax advice. Here’s our guide to explain how trusts work with AIG policies.
Additional benefits of AIG

Smart Health
From on-demand consultations with UK based GPs to second medical opinions from Best Doctors®, our Smart Health service is a convenient way to connect your clients to tools that help them manage their health and wellbeing. It’s available 24/7, 365 days a year, anywhere in the world and can also be used by their partners and children up to age 21, all at no additional cost.

Winston's Wish
We all know that life insurance is there to support your loved ones should the worst happen, but at AIG, we know that there’s more to it than just financial protection. Winston’s Wish – the UK’s leading child bereavement charity – help children get the support they need in the event of losing a parent or sibling.

Smart Health
From on-demand consultations with UK based GPs to second medical opinions from Best Doctors®, our Smart Health service is a convenient way to connect your clients to tools that help them manage their health and wellbeing. It’s available 24/7, 365 days a year, anywhere in the world and can also be used by their partners and children up to age 21, all at no additional cost.
Smart Health is a non-contractual benefit that could be changed or withdrawn in the future.
Smart Health is provided to AIG Life Limited customers by Teladoc Health. We want to let you know that these services are non-contractual, which means they don’t form part of the insurance contract with us. If our partnership with Teladoc Health ends, these services could be changed or withdrawn in the future.
Literature and support materials
Sales Aid - Family Income Benefit
This guide helps you recommend AIG’s Family Income Benefit to your clients.
Family Income Benefit - Cover Details
Read our Cover Details for an explanation of how AIG's Family Income Benefit works.
Family Income Benefit - Key Facts
For more information on YourLife Plan Family Income Benefit, visit our Key Facts.