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Life insurance calculator

How much life insurance do I need?

Our life insurance calculator is the easiest way to estimate how much cover you may need based on your current situation. Simply enter your details in the calculator below and click "Calculate".

Remember, this shouldn't be treated as advice. You will have to decide the amount of cover and the type of policy that is right for your needs.

Use our calculator to get an idea of the total cover that you may need. Simply fill in the fields below and click 'Calculate'. This is not advice. You will have to decide the level of cover and the type of policy that you need.

How much would you like to leave to your dependants?

Think of your annual salary multiplied by the number of years you wish to cover your dependants. Consider things like the cover your family needs to maintain lifestyle and everyday living expenses; or would the loss of your income impact your dependents future plans e.g. a partners planned retirement age or children’s education.

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How much of your mortgage is still outstanding?

The amount required to clear your mortgage completely.

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How much would be required to pay any major loans or debts such as credit cards and funeral expenses?

The average cost of a funeral was £4,706 in 2024. (L&G research 2024)

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Do you currently have any existing life cover or investments that would pay out in the event of your death?

Include the value of any policies or investments you currently have in force that you would like included in the calculation.

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You have indicated that the level of cover you may require is either less than £1,000 or more than £9,999,999.

Please start again and calculate the amount of cover that may be appropriate for your needs.

This calculator helps you consider the costs you may wish to cover. The questions we have asked may not be appropriate to your own circumstances. It is important to review the amount of life cover regularly as your financial circumstances change.

If you are unsure of the amount of cover you require you should speak to a Financial Adviser.

Based on the values you have provided, the level of cover you may wish to consider is:

This is an indication of the cover you may need based on information you have provided. It does not take into account the effects of inflation. Should you apply for a life insurance policy, you will be responsible for ensuring that it meets your needs and your application will be subject to underwriting. If you are unsure of the amount of cover you require you should speak to a Financial Adviser.