Family Benefit Income
Secure a steady monthly income for your loved ones, designed to replace your salary and maintain their standard of living.
Book Free ConsultationWhat Is Family Benefit Income?
Unlike standard life insurance which delivers a one-off cash payout, Family Benefit Income is designed to provide long-term stability through a tax-free regular monthly income. Its primary purpose is to step in and replace your salary, ensuring that your family's lifestyle remains consistent even in your absence. This structure is well suited for covering recurring expenses like mortgage payments, utilities, and school fees. Instead of forcing your family to make complex financial decisions about how to invest a lump sum during a difficult time, this cover provides a simple, reliable pay cheque that keeps the household running smoothly.
How It Family Benefit Income Works:
The payout structure is designed to be practical and manageable. Rather than a single lump sum, the tax-free income is paid out for the remainder of the policy term if you pass away. For example, if you hold a 20-year policy and pass away after 5 years, your family will receive a guaranteed monthly income for the remaining 15 years. This consistent stream of money works like a salary, giving your loved ones reliable support when they need it most and helping them maintain their lifestyle without the burden of complex financial planning.
Why Choose Family Benefit Income? This Over A Lump Sum?
Family Benefit Income is often significantly more affordable than traditional Level Term insurance. This is because the total potential payout amount decreases over time as the policy term shortens. As your children grow older, the number of years needing cover naturally reduces. It is the ideal solution for families with young children or dependents who rely on a steady income stream to cover daily living costs. It also removes the burden of having to invest or manage a large cash lump sum during a difficult and emotional time. Instead of facing complex financial decisions, your family simply continues to receive the reliable monthly support they are used to.
Have questions about family benefit income?
Protect Your Family with Aura
If you have a partner or children who rely on your monthly pay cheque to cover the mortgage and bills, this coverage offers the most logical protection. Let Aura Mortgages help you calculate the exact monthly cover needed to secure your family's future.
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Frequently Asked Questions
Is Family Benefit Income tax-free?
Can I cover the mortgage?
Is it cheaper?
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