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 their 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 a client who has become a relative's full time carer. If your client were to die or be diagnosed with a terminal illness, FIB could provide a monthly income to pay for the relatives care costs or help toward paying other bills.


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

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

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Smart Health

The insurance also includes access to Smart Health, an additional service provided at no additional cost to you. From on-demand consultations with UK based GPs to second medical opinions, 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.

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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. We have partnered with Winston’s Wish, the UK’s leading child bereavement charity, which helps children get the right support when they lose a parent, carer or sibling.

Winston's Wish is a national charity that is accessible to anyone regardless of an insurance policy. The service is available even if a policy ends.

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.

Download Updated 25 Jan 21
Family Income Benefit - Key Facts

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

Download Updated 25 Jan 21