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Family income benefit important for school fee "protection", says expert

Posted on 18th July 2008

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Taking out family income benefit could be a valuable investment for a child's private school payments should the worst happen, an expert has said.

Kevin Tooze, managing director of Equity Partners, urged parents to ensure that they have some "protection" so they can keep their children in independent education.

"Family income benefit, which pays out if one or both spouses die … can be extremely useful to meet school fees and the cost of such policies is decreasing," said the school fees plans specialist.

This advice could be especially important to consider in the current climate, with the credit crunch hitting parent's pockets and private school fees on the up.

Halifax Financial Services last week published research noting that the last five years have seen the average independent sector fees soar by 40 per cent, over double the increase of the retail price index.
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