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Family Income Benefit, also known as FIB, is a type of Insurance that offers your family members financial support when you pass away. Your policy will only pay out if you die during the policy term. The released payments will be interest-free
Similar to Life Insurance, you can define the length of your term upon taking out Family Income Benefit Insurance. Generally, the longer your term, the more premiums that you will pay per month.
If you pass away towards the end of your term, fewer monthly payments will release. This is because the number of years remaining on your term will be the same amount of payments that your family will receive. For example, if you are twelve years into your twenty-year term, if you pass away your family will receive payments for the next 8 years.
A protection and mortgage advisors in Nottingham can help you with the specifics and assist you when you’re trying to find a deal that is most suitable to your personal and financial situation.
If you feel that your family would benefit from your financial support after you pass away, then Family Income Benefit Insurance could be the right form of insurance for you.
If you have younger children, when you pass away, this policy can provide them with financial income whilst they are growing up. Potentially, your Family Income Benefit policy could have cheaper premiums than if you were to take out a Life Insurance policy.
People may also opt to take out Critical Illness Insurance alongside their Family Income Benefit Insurance. This can be because it can sometimes be cheaper to take them out together rather than individually.
As providers of expert mortgage advice in Nottingham, remember that family income benefit is a policy to provide financial support for family members, replace lost income or pay off any outstanding debts owed in the person’s name.
Speak with a mortgage broker in Nottingham, will talk you through the costs of your Family Income Benefit policy and why the costs can change depending on the length of your term. Other factors that will also affect your premiums are your lifestyle, age and medical history.
Our Mortgage and Protection Advisors in Nottingham are here to help you find a policy that suits your personal and financial situation. We can also look at setting you up a menu plan if you are interested in taking out more than one insurance policy.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
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4.96 Rating355 Reviews
Rachel
Conor (Mortgage Advisor) and Lizzi (Case Manager) have been fantastic from start to finish. As first time buyers, we felt the information was explained clearly and updated regularly. I would recommend them to anyone!
3 weeks ago
Heather
Recommended by a friend. For us as first time buyers it was absolutely the best decision to come to Chris at Notts money man. The advice and finding the right products felt easy and we learned as we went through the process. Will definitely come...
2 months ago
Anonymous
Very efficient and good communication. I had a good experience and successfully applied for a mortgage with their help.
3 months ago
Robert
UK Money Man, Conor and the team were great and sourced us a mortgage that we were unsure we could get. Second time using UK Money Man and we would certainly use them again. Fantastic service
5 months ago
Olivia
As a first-time buyer, I wasn’t really sure what to expect with getting a mortgage, but Matt at Nottingham Money Man was brilliant from start to finish and immediately put us at ease from the first phone call. He explained everything really...
6 months ago
Anonymous
Very helpful, just what we needed.
6 months ago
Karen
Smooth transition. Meetings on time. Lovely and really helpful staff who know what they’re doing and all for your best interest.
6 months ago
Katie
These mortgage brokers are amazing, there quick responses made a stressful time feel like a breeze and answered any questions I had promptly and in detail. I could not recommend a better mortgage broker!
6 months ago
Christian
Great service and independent advise one again and our 3rd remortgage with Nottinghammoneyman. Found us a great option once again and a mortgage offer recieved very quickly. Would strongly recommend to anyone.
7 months ago
Abigail
I've used these Mortgage Brokers since I purchased my first house. I have renewed my mortgage with them twice since, it's helpful that they send you a reminder to discuss options 6 months before the renewal. Conor Longthorn who helped me with...
7 months ago
Anonymous
The staff (Matt and Lewis) were really helpful at every stage and got me a mortgage without much hassle at all.
7 months ago
E
Brilliant service from Paula Milner and Malcolm! If you have a particularly complex case as mine was this is the team whose hands you want to be in. Paula has the patience of a saint and handled the ups and downs of this process with empathy and...
7 months ago
Anna
Have dealt with this company for a few years now. Always seems hassle free and straight forward. Very good communication via email and phone appointments. Will continue to use and recommend 👍
8 months ago
Mr Christopher
Was very helpful and couldn’t thank enough
8 months ago
Dylan
Can’t thank Leo from Nottingham Money Man enough, with us every step of the way answering all the questions us as first time buyers had and helping with organising solicitors and lift insurance, can’t recommend this gent enough.
9 months ago
Tom
Charlie and Lizzi were always quick to respond whenever we got in touch and never failed to be helpful with all of our queries and requests.
9 months ago
James
This was my third mortgage with Nottinghammoneyman and they were excellent as always. There were lots of issues with the lender and they took the stress off by chasing them for me a lot.
10 months ago
Maggie
Both Dinah and Jo were great,friendly patient when answering my questions and throughly professional at all times. I am a first time buyer so knew nothing of the process involved. So thank you Dinah and Jo you couldn't have made it any easier for me
11 months ago
Emma
Malcolm was very patient, with me taking a long time to choose a property and with me being very indecisive. He support me through the whole thing and was always at the other end of the phone for any question or support!
11 months ago
Shaun
Listened, advised well and very efficient. Excellent
11 months ago
During your free initial insurance review, we will delve into your history and gather pertinent details to create a customised plan that aligns with your financial resources.
With our team, they can search through an extensive array of insurance products, identifying the one that best caters to your distinct requirements and financial circumstances.
Once you are content with the product we have recommended, we will proceed with submitting your application to the provider. In certain instances, the policy provider may necessitate supplementary information prior to accepting the application.
As your circumstances evolve, the policies you initially acquired when you obtained your mortgage may no longer be optimal for your situation, which is why we can make sure your policies are always up to date.
Pick your own date and time and book online!
We have Protection Advisors in Nottingham available to take appointments early in the morning, late in the evening or at the weekend. Alternatively, give us a call and we can refer you to the best advisor for your situation.
We will search through 1000s of insurance products in order to find one that suits your personal and financial situation.
In Nottingham, we have been helping customers for over 20 years. We have found 1000s of happy customers Family Income Benefit insurance products.
Customer care is at the heart of our company, take a look at some of our fantastic reviews on our reviews page to find out more about our service.
Our team will also go through the policies terms and conditions with you and make sure that you are happy with how it works and when it pays out. They will also look at your term with you and help you decide the length of the policy.
Read our 355 Reviews
Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2009–2026
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Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2009–2026
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