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Family Income Benefit


This is considered one of the cheapest and best forms of cover to provide your family with added protection. With the soaring cost of school fees often our clients want to insure against themselves protecting their children’s education. The advantage of this type of policy is that as each year passes the benefit reduces helping keep the cost down.

For example 2 children aged 4 expecting to be at school to 18 at a cost of £3,000 per term each gives a total cost of £252,000 for their school fees. The policy would need to run for 14 years with a total benefit requirement of £18,000 per annum.

As each year passes the benefit reduces by £18,000 hence the cost of cover is cheaper than having a policy covering a level sum of £252,000 for 14 years.

Again with this type of cover you can insure against inflation and similarly your premiums will increase each year, but this enables you to protect against the ever rising cost of school fees.

 

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