Is there Life Assurance thats pays monthly instead of a lump sum?

NIMAN

I was wondering if there is such a product on the market, that instead of paying a lump sum on death, would pay out a fixed amount for x number of years?

Browney7

NIMAN wrote: »

I was wondering if there is such a product on the market, that instead of paying a lump sum on death, would pay out a fixed amount for x number of years?

New Ireland have a product that pays a monthly income. You could have 2000 per month for 20 years and if you were to die at year ten 2000 would be paid monthly for ten years. Zurich have it too actually

marathonic

NIMAN wrote: »

I was wondering if there is such a product on the market, that instead of paying a lump sum on death, would pay out a fixed amount for x number of years?

What you are talking about is called Family Income Benefit in the UK. It doesn't appear to be quite as popular in Ireland so it's more difficult to get online quotes.

In my eyes, less competition in the area probably means the premiums will be pretty expensive but you could start by checking out the companies mentioned above.

Family Income Benefit is a product that tends to be cheaper in a high interest environment.

Alan152

Zurich do it also, it's called monthly income in their range of guaranteed term plans

Alan152

It can have drawbacks, some people do half income have lump sum and it works quite well