subject: Family Income Benefit - What Does This Entail? [print this page] Secure the life of your dependents with a protective insurance plan. You are uncertain about your future and are unaware what your fate has in store for you? You must be sure of one thing even in this uncertain future surety of your familys basic needs. How can you protect their interest in times of a crisis situation? Simple, get a family income benefit cover and protect your monthly benefits in times of lay off, redundancy, sickness or accident etc.
You may have taken a huge mortgage amount as against the house that you have pledged. The insurance policy that you have taken will cover your payments in case you are facing any difficulties in paying off the loan due to loss of job and no income, this policy will protect you. If you dont have a protective cover and you were to lose your job, then you are in danger of becoming homeless. Your lender will confiscate your property in order to recover the loan payment.
Enjoy the Tax benefits along with a comprehensive protective cover!
Also, remember that you can enjoy tax benefits. In case you are paying a high amount of tax unnecessarily, you can avoid this. Apply for a protective insurance cover which will not only safe guard your salary in times of crisis but will also offer you tax benefits month on month.
Isnt it dual benefits for you? This way you can protect all those members at home, who are dependent on you. It really helps you, if you are a sole bread winner at home. You can have this policy for 18 to 20years, and even more than this. This will help you with financial benefits till your son completes his education and he starts earning. Isnt it a solace?
More often than not people take out life assurance for the right reasons; they want to protect their families standard of living in the event they die. The problem is not many people give consideration to what might happen if they had a serious illness such as a heart attack and did not die. It is then, that this family income cover comes into play.
This is particularly helpful for those who like to know they have a regular monthly income and would rather not have to worry about complex investment decisions to make the most out of a lump sum payout. Secure your future and your family members too!
