Life Insurance Calculator
Work out a recommended sum assured, income replacement, your mortgage and debts, funeral costs and your children's future costs, minus any existing cover and savings.
A guide, not advice. This is a guide to how much cover you might need, not advice or a quote; speak to a regulated adviser. Figures are indicative only and use a UK average funeral cost of £4,000.
Enter your annual net income
Your recommended life insurance cover and a full breakdown appear here as you type.
How much life insurance cover do you need?
There's no single right answer, but a common starting point is the "income replacement" method used here: add up what your family would need to replace your income for a set number of years, clear the mortgage and any other debts, cover funeral costs, and fund your children's future costs, then subtract any life cover you already have and savings or other assets you could draw on. The result is a recommended sum assured: the amount your policy should pay out. How many years of income to replace is a personal choice, many people choose until their youngest child turns 18 or 21, or until the mortgage is due to be paid off. This calculator gives you a starting figure to take to an adviser or comparison site, it is not personal advice and doesn't account for your health, existing policies, inflation or tax.