Is it possible to get Family income benefit Insurance in Ireland ?

[MfS]

I have been researching on the internet and come across a product called Family income benefit insurance which provides an income for your dependant for a set period if you die.

It is an alternative to life insurance and is cheaper as the payout reduces with time (a little like mortgage protection insurance).

It also remove the problem and possibly additional stress of investing large lump sum on the death of the bread winner.

Is it possible to take out this kind of insurance in Ireland I can't seem to find anyone who does it

 

[RS2K]

A common misconception.

FIB actually is a life insurance contract. Reducing term cover (similar to a mortgage protection policy) packaged to pay out gradually.

Entry to the Euro meant lower interest rates, and the death of this idea.

Level term is better value. Should the worst happen you can deposit the proceeds and draw capital and interest down to suit the circumstances.

 

[ClubMan]

It also remove the problem and possibly additional stress of investing large lump sum on the death of the bread winner.

Maybe nominate somebody trustworthy in a will to assist the next of kin with financial issues in such circumstances?

 

[NHG]

Pension Term Assurance does the same thing - pays out a 4 times the salary in a lumpsum then the balance is paid like a pension weekly/monthly

 

[RS2K]

Pension Term Assurance does the same thing - pays out a 4 times the salary in a lumpsum then the balance is paid like a pension weekly/monthly

The balance has to go to purchase an anuity.