Family income benefit is designed to pay a regular income if you die. An alternative to level term insurance, family income benefit aims to replace lost income if the person insured dies so that the remaining family can maintain their bills and lifestyle.

An ideal policy for any family with children, or where one partner earns significantly more than the other, it can ensure there is enough income coming into the household so that the surviving partner has the option to reduce their working hours and spend more time with the children knowing the bills will be paid. At a time where the family has endured a significant loss, this will alleviate the financial burden.

Level term insurance pays out a one off lump sum if the person insured dies whereas family income benefit pays a monthly income instead which can be easier to budget.