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.

Writing your client's policy into trust

Your clients are able to write their policies into trust, and we offer both simple and split options. Making this legal arrangement ensures that money paid out goes straight to the people they want to benefit from it. It also could allow a quicker death claim payment compared to a policy not in trust and could exempt any pay out from IHT liabilities. We cannot advise on whether putting any particular plan into a trust would be suitable for your client’s particular circumstances and would recommend that they take professional legal advice. For more information, read our guide to explain how trusts work for insurance policies.

Download

Additional benefits of AIG

Two doctors walking up stairs
Best Doctors®

We give your clients access to Best Doctors for invaluable second medical opinions. Their knowledge helps your clients and their immediate family get the right diagnosis, treatment and care.

Two children painting with their hands
Winston's Wish

We understand that people need more than financial security. We work with the leading UK charity Winston’s Wish to help bereaved children get the specialist support they need.

Best Doctors and Winston’s Wish are non-contractual benefits which can be withdrawn at any time without notice.

Literature and support materials

Sales Aid - Family Income Benefit

Download Updated 01 Jan 19
Family Income Benefit - Cover Details

Read our Cover Details for an explanation of how AIG's Family Income Benefit works.

Download Updated 30 Apr 18
Family Income Benefit - Key Facts

For more information on YourLife Plan Family Income Benefit, visit our Key Facts.

Download Updated 30 Apr 18