F&TRC adds family income benefit to research tools
Family income benefit has been added to the Finance & Technology Research Centre's (F&TRC) Quality Analyser research tool.
Family income benefit product comparisons will be possible for plan options, exclusions, guaranteed insurability options, critical illness cover, underwriting services and waiver of premium, as well as others.
F&TRC's Quality Analyser Research tool, a free service for advisers and employee benefits consultants to help with provider selection, was launched in earlier this month with information on life, critical illness, income protection and mortgage protection information.
Providers already listed for family income benefit comparisons include:
• Aegon
• Ageas Protect
• Bright Grey
• Friends Life
• Legal & General
• Vitality Life
• Scottish Provident
Roy McLoughlin of Master Adviser, said: "Family Income Benefit is a hugely undersold product so it is great news that advisers will now be able to compare products on Quality Analyser alongside basic term assurance. FIB provides an income instead of a lump sum, which is arguably a much more suitable way of protection the family for many people."
Ian McKenna, managing director of F&TRC, said: "Following the launch of Quality Analyser earlier this year we plan to expand the service by adding a number of additional products. By including Family Income Benefit within the research tool we expect to see more advisers considering it alongside lump sum benefits."
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