What is Family Income Protection?
Family income protection is a type of life insurance that lasts for a set period of time. If you die during the term of the policy, your family will receive a monthly tax-free income until the policy ends. So, if you take out a 30-year policy and die five years into it, your family will receive a regular monthly income for the remaining 25 years. This is a great way to ensure that everyday expenses are covered when you are no longer around.