Which type of insurance policy provides income for a predetermined time after the insured's death?

The family maintenance policy is designed to provide income for a specified period following the death of the insured. This type of policy combines elements of both life insurance and income protection by offering both a lump-sum death benefit and a monthly income to beneficiaries for a predetermined time. The structure of this policy serves to ensure that, in addition to a one-time payout, the family receives ongoing financial support during a crucial transition period after the loss of the insured. This is particularly beneficial for families who may rely on the deceased for their livelihood.

The other types of policies primarily focus on either a death benefit—like whole life, universal life, and term policies—or on cash value accumulation, without specifically providing a targeted income stream for an extended duration following the insured's passing. Other policies can offer flexibility or lifelong coverage, but none combine immediate death benefits with guaranteed income over a set timeframe quite like the family maintenance policy does.