Family and Personal Income Plan
This protection insurance is specifically designed to provide you and your family with a monthly benefit of income protection in the event of your death or if you are diagnosed with a specified critical illness during the term of the plan.
What is family and personal income protection?
This protection plan is specifically designed to provide you and your family with a monthly benefit in the event of your death or if you are diagnosed with a specified critical illness during the term of the plan. Critical illness cover is optional when you are taking out your plan.
Although Family and Personal Income Plans are designed to pay a monthly benefit, a commuted lump sum payment can be taken instead when a claim is made.
What is included in the cover?
The benefit is paid out when you die, when you are diagnosed with a terminal illness (with a life expectancy of less than 12 months), or is diagnosed with a specified critical illness, whichever occurs first. Family and Personal Income Plans are designed to pay out as a monthly benefit however in some circumstances a lump sum payment can be taken instead.