A death in the family can be an extremely traumatic and painful time, particularly for remaining family and loved-ones. The financial pressures can be heightened when children are affected.

The loss of the family member and the income they bring into the household can severely affect the future of the family involved. Family protection life insurance ensures that the remaining family has the continued financial resources to maintain their standard of living and continue life the best they can.

Two of the most common ways in which family protection life insurance can be arranged are: - Family Income Benefit or Level Term Assurance – both policies are designed to provide the family with a tax free income; the sum assured. This income can be used to pay the ongoing household bills and other costs.

How does it work?

Endsleigh’s financial advisers can advise on the most suitable type and level of cover for your circumstances. They can also search the UK marketplace to find the most competitive offering for your needs.

The level of life insurance provided by the policy will depend upon many factors. These include how much the family can afford to spend each month, the age, health and smoker status of the life to be insured, the number of years the policy is set to run plus the level of protection required.

Some people decide upon a budget and buy as much cover as they can get for this premium whilst others calculate their monthly expenditure and take a policy that will pay out a sufficiently large lump sum to cover these monthly outgoings. Some people prefer to take out life insurance based on a multiple of their salary, for example, someone earning £30,000 per annum could choose to insure 5 or 10 times their salary.