The protection insurance provider Scottish Provident has seen its sales of family income benefit increase by nearly four times in recent months. Family income benefit is a form of life insurance which provides a monthly income rather than a lump sum should the worst happen.
They believe this soar in demand is due to the economic instability that remains in the UK, family income plan offers stability and security, there is no need to worry about investing a lump sum instead a monthly income is secured for the beneficiaries. In addition due to the nature of family income benefit it can often be considerably cheaper than other forms of life insurance due to the design of the product.
The company’s head of marketing, comments: “Budgeting for the future involves creating a sensible financial plan, while not sacrificing valuable cover that may be vital in protecting a family in both the short and the long term.”
If you are considering life insurance it is important understand all the different types of life insurance available to you. What works for you might not for someone else; it is always worth considering your options and reading through the policy wording to get an understanding of the cover.
Whether you would like to talk through your scenario with an insurance expert, require further information or simply want a family income benefit quote we are here to make your life easier.
