Family Maintenance Policy

Published: | Updated: April 30, 2018

Table of Contents

Definition - What does Family Maintenance Policy mean?

A family maintenance policy is insurance that provides income for a beneficiary for a specified period after the death of the insured. Upon the end of that period, the insurer gives the beneficiary an amount equivalent to the policy's face value.

Insuranceopedia explains Family Maintenance Policy

A family maintenance policy is a financial package that combines whole life and level term policies.

The name of this insurance refers to the fact that it is intended for the family breadwinner, with the spouse or dependents often designated as beneficiaries. This is often bought as a precaution to the loss of income after the death of the breadwinner.


How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.