What type of insurance pays out regular amounts upon diagnosis of critical illness or upon death?

Family income benefit is a type of insurance that is designed to provide a regular income to the family of the insured in the event of their death. It pays out a predetermined sum regularly, which can help to replace lost income and ensure that financial obligations are met, such as mortgage payments and living expenses. This type of cover is particularly useful for families who rely on one primary income earner. The payout is made for a specified term, and if the insured passes away within that term, the beneficiaries receive a regular income until the end of the policy term.

In contrast, term assurance provides a lump sum upon death but does not offer a regular income; accident, sickness, and unemployment insurance focus on providing payouts due to disability or job loss rather than critical illness or death. Critical illness insurance offers a one-off payment upon diagnosis of a specified serious illness but does not provide regular payments like family income benefit. Thus, family income benefit specifically addresses the need for regular financial support following the death of the insured, making it the correct choice for the given question.