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 provide adaptable specimen trust documents for use. Making this legal arrangement could ensure that money paid out for a claim goes straight to the people they want to benefit from the trust. It also could allow a quicker death claim payment compared to a policy not in trust and could mitigate Inheritance Tax liabilities.
We cannot advise on whether putting any particular policy into trust would be suitable for your client’s particular circumstances and would recommend that they take professional legal and tax advice. For more information, read our guide to explain how trusts work for AIG’s insurance policies.
Additional benefits of AIG
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.
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.
Smart Health
From on-demand consultations with UK based GPs, to Best Doctors - the expert case management service with the world’s top medical specialists, our Smart Health service is a convenient way to connect your customers to tools that help them to manage their health and wellbeing from anywhere in the world, 24/7.
Smart Health, Best Doctors and Winston’s Wish are non-contractual benefits which can be withdrawn at any time without notice.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
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.