Family income benefit is a life insurance policy that pays an income to dependants on the death of the insured.
The income, usually tax free is only payable through the term of the policy. These policies are usually recommended to families who wish to protect against the loss of income provided by either or both parents.
Critical Illness cover can be added to the policy, producing an income in the event of serious illness being diagnosed. The insured would not have to die for the claim to be paid. A list of critical illness can be provided by the insurer on request.