Family Income benefit insurance can be taken out to cover the shortfall of your mortgage payments.
Family income benefit plans are commonly used for family protection. However, rather than producing a one off lump sum should you die during the selected term (as is the case for level term cover ), the policy produces a regular tax free income for your dependants for the remainder of the plan term.
You should also consider writing your policy into a trust . This is a simple way of making sure the proceeds will be paid straight to your dependants quickly and avoiding Inheritance Tax.
Best UK Life Insurance is a trading name of Grovelawn Limited, who are authorised and regulated by the Financial Services Authority. Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY
FSA Registration Number: 314204