These plans are the most cost-effective form of family protection as rather than producing a lump sum should you die, the policy produces a regular tax free income for your family for the remainder of the plan term.
This saves cost, tax and a lot of hassle for your family at a tough time. The amount paid each month can be set to rise with inflation, or to remain level over the plan term.
One thing you need to be aware of is that benefits are payable for only a set number of years during the term of the policy. So if you make a claim 15 years into a 20 year policy the policy will only payout for 5 years.
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