Swans

My Child is 11, Should I Consider a Family Income Benefit Plan?

We are just about to send our only child off to a private secondary school and no doubt University from there. I want to ensure the fees and cost of university would be covered no matter what.

Question asked by Sarah Goodchild
Boat
13/04/2021

Family Income Benefit would provide your child with a monthly benefit until they are considered to be financially self-sufficient, which in most cases is set between 21 and 23 years of age.

Although many parents start considering this form of protection for specific costs such as school fees, it is usually seen as the most appropriate form of protection to ensure your children’s standard of living would be maintained until they are self-sufficient should the worst happen to you.

This includes protecting the cost of school fees but also the everyday costs such as food and clothing.

Family Income Benefit is a cost-effective way of protecting your children as rather than paying a lump sum up front should the worst happen it pays a regular income.

First things first…

There is a higher chance of you being unable to work due to illness or injury than there is of you passing away.

If you are still working and particularly concerned about supporting your child, you may also want to consider Income Protection Insurance, which would provide you with a monthly income should you be unable to work due to sickness, accident or unemployment.

Get in touch…

If you have any further questions please feel free to get in contact on 02084327333. We are whole of market, independent and offer a fee free service for our advice.

Compare Top 10 UK Insurers

Takes approx. 60 seconds
  • £
Verified by Norton Symantec icon
 Or Call Us

Frequently Asked Questions

Contact Us

Head Office & Pensions and Investments
Senator House
85 Queen Victoria Street
London
EC4V 4AB
Personal Insurance & Accounts Payable
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
Drewberry London Office MapDrewberry Brighton Office Map

If you are unhappy with our service, we have a complaints procedure, details of which are available upon request. If you are unhappy with how your complaint has been dealt with, you may be able to refer your complaint to the Financial Ombudsman Service (FOS). The FOS website is www.financial-ombudsman.org.uk.

Drewberry Ltd is registered in England and Wales. Companies House No. 06675912

Drewberry Ltd registered office: Telecom House, Preston Road, Brighton, England, BN1 6AF. Telephone 0208 432 7333

Drewberry Ltd (Financial Conduct Authority No. 505473) is an Appointed Representative of Quilter Wealth Limited and Quilter Mortgage Planning

Limited, which are authorised and regulated by the Financial Conduct Authority.

Drewberry™ uses cookies to offer you the best experience online. By continuing to use our website you agree to the use of cookies. If you would like to know more about cookies and how to manage them please view our privacycookie policy.