1. Policy Term :

   You choose the length of the policy term when you purchase Family Income Benefit insurance. This could be, for example, 10, 20, or 30 years.

2. Premiums :

   You pay regular premiums for the duration of the policy term. The premium amount is determined based on factors such as your age, health, lifestyle, the amount of coverage you want, and the length of the policy term.

3. Death Benefit :

   If you pass away during the policy term, your beneficiaries will receive a regular income stream instead of a lump sum payment. The income payments start immediately after your death and continue for the remainder of the policy term.

4. Income Amount :

   The amount of income your beneficiaries receive each month is determined by the coverage amount you select when purchasing the policy. You can choose an income amount that aligns with your family's financial needs, such as covering mortgage payments, household expenses, childcare costs, education expenses, and other ongoing financial obligations.

5. Tax-Free Income :

   The income payments received by your beneficiaries are typically tax-free, providing them with financial support without the burden of taxes.

6. Flexibility :

   Family Income Benefit offers flexibility in terms of coverage amounts, policy terms, and beneficiaries. You can customize the policy to suit your family's unique needs and circumstances.

7. No Cash Value :

   Unlike some other types of life insurance policies, Family Income Benefit does not accumulate cash value over time. If you survive the policy term, there is no payout, and the policy expires.

Family Income Benefit insurance can provide peace of mind knowing that your loved ones will have a steady income stream to support their financial needs if you were to pass away unexpectedly. It can be particularly beneficial for families with dependents who rely on your income to cover living expenses and maintain their quality of life.