Family income benefit insurance or FIB is a lesser-known life insurance policy that pays a yearly income, rather than a lump sum, to your family. FIB is ideal for funding education for your children, or the costs of childcare. It’s also a lot cheaper than traditional ‘lump sum’ life cover. Read more by clicking the headline above.
One super-efficient tool for ensuring a smooth transfer of life insurance monies to your family is to set up your life insurance in trust.
There’s no point in spending more than you need to spend on life insurance. Every insurer looks at your health and lifestyle in assessing you as a risk, and the cost of insurance can be reduced by following these simple steps.
A new report by the Insurance Industry Working Group (IIWG), led by the Chancellor of the Exchequer Alistair Darling, encourages the consumer to act on his own initiative to arrange life insurance, critical illness insurance and private pensions provisions in the future.
