Although this product sounds a little like a social security benefit it is actually the name of a type of insurance policy.
The way to look at it is that it provides an income to the surviving family on the death of one or more of the income earners. For example Mr & Mrs Jones have two children, they both work and earn £2,000 a month each. They may want to take out a policy that would pay out £2,000 a month on one of their deaths so that the surviving spouse has money to meet their ongoing commitments.
For further information and advice or to arrange a consultation please call 020 3355 4841 contact us.
Life insurance plans typically have no cash in value and will cease at the end of the term. If premiums are not maintained then cover will lapse.