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Income Benefit

Pays a regular income to your family rather than a lump sum, matched to the years they'd need ongoing support.

Whole-of-market access, including cover from

Aviva Legal & General Vitality Royal London Zurich LV= Guardian Bupa MetLife Aviva Legal & General Vitality Royal London Zurich LV= Guardian Bupa MetLife

Income Benefit is a form of life insurance that pays out as a regular tax-free income rather than a single lump sum. It's designed to replicate the income you'd have provided, for the remaining years of the policy term, if you died.

How it works

You choose a monthly or annual income and a term. If you die within that term, your family receives that income from the date of your death until the end of the original term, rather than managing a large lump sum.

Why some families prefer it

  • It can be more affordable than an equivalent lump sum policy, because the total amount paid out reduces the longer into the term a claim happens.
  • It removes the pressure of investing or managing a large sum during an already difficult time.
  • It closely mirrors what a salary would have provided.

Who it's for

Families who want a simple replacement income rather than a lump sum to manage, particularly those with young children.

Frequently asked questions

How is this different from a normal life insurance lump sum?

Instead of your family receiving one large payout to manage, they receive it as a regular income, matched to the years remaining on the policy. Many families find that easier to budget with, especially with young children.

Can I combine it with a lump sum policy?

Yes. It's common to take out Family Income Benefit alongside a smaller lump sum policy, so your family has both an immediate cash amount and an ongoing income.

Does the income keep pace with inflation?

Some policies offer an escalating option so the income rises each year. Worth discussing if the policy needs to cover a long period.

Is it cheaper than an equivalent lump sum policy?

Often, yes, because the total amount paid out reduces the later into the term a claim happens, which can make premiums lower than a comparable lump sum policy.

Who regulates us

Match Financial Partners Ltd is authorised and regulated by the Financial Conduct Authority (under number 983246 in respect of mortgage, insurance and consumer credit mediation activities only).

You can check this on the Financial Services Register by visiting the FCA's website www.fca.org.uk or by contacting the FCA on 0800 111 6768.