FMI's Death Income Benefit – Caring For Your Family

Death is one of the most stressful events in a family’s life. On a financial front, most people prepare for this eventuality with life insurance cover. An immediate problem, however, lies with delays in the pay-out of this cover while the decease's state is being wound up.

It might be difficult for dependants to get by without an expected monthly income for the initial period after your client’s death. How will they supplement this income during this stressful time? FMI’s optional Death Income Benefit has been developed to respond to this temporary need.

The Death Income Benefit protects beneficiaries by providing them with a monthly income for 6 or 12 months with no waiting period. This benefit does not replace the need for lump sum life cover but it does provide your client with peace of mind that, should they die, their loved ones will be protected financially during the time immediately after death.

How does the benefit work?

The Death Income Benefit pays out the cover amount on your client’s Temporary Income Protection cover, every month, to chosen beneficiaries for 6 or 12 months after your client’s death. The benefit:

• Pays regardless of whether or not the policyholder is in claim at time of death
• Has no waiting period
• Is not aggregated
• Allows for multiple beneficiaries

Optional benefits, such as the Death Income benefit, have been added to enhance BPE’s core benefits of temporary and permanent disability cover. They take into account the changing needs, family responsibilities, and the unique risk profile of each policyholder. To learn more about BPE, visit the FMI website.

For more information on FMI’s product offerings, contact the Financial Adviser Distribution Team on 0860 10 52 08 or [email protected].