Risk Clinic: FIB vs lump sums

Alan Lakey, Highclere Financial Services Having a capital sum option on an FIB plan is eminently useful as there may be circumstances where opting for a discounted sum is more appropriate than a continuing income. However, I would suggest such circumstances are not that frequent and this raises the question of whether insurers are influencing recipients or whether the naked attraction of a capital sum is to blame. The purpose of a family income plan is self-descriptive and these plans serve a clear purpose of providing a tax-free income during defined periods, typically when children are...