How much might I need
How much might I need
This life insurance calculator can help you work out how much money your loved ones may need to maintain the lifestyle they have now, were you no longer around to provide for them. It won’t help you decide how long you need cover for or the type of cover required.
The total life cover figure given is only intended as a guide based on the information you provide. It is not a personal recommendation and should not be taken as advice. This calculator doesn’t take into account your personal circumstances or the effect of inflation, which will reduce how much this amount will buy in the future.
Please enter the amount left to repay on your mortgage. Please leave blank if not applicable, or if you only want to cover your monthly mortgage payments for a limited number of years.
Please enter the total amount of any outstanding debts such as loans, credit cards and store cards, other than your mortgage. Please leave blank if not applicable.
Please enter the amount you would like to put towards your funeral costs. Please leave blank if cover not needed for this.
The average cost of a funeral in 2016 was £3,897. £3,897 covers the costs of the funeral itself, including the funeral director’s costs and any fees payable but does not include extras such as memorial, headstone, flowers and catering. Source: Average of quotes for standard cremation and burial arrangements from a sample of UK funeral directors. Critical Research, 2016
To calculate how much total living costs might be for the loved ones you left behind, please complete the following section. Please enter the amount spent each month on the items that apply, or leave blank. You can add any extra items at the end.
Tuition fees vary by university and by country. This calculation is based on England’s current maximum tuition fees of £9,000 per year for 3 years. Source: www.gov.uk/student-finance
Here is a summary of the amount of cover you may need. This is the sum total of each the answers you have given. The total life cover figure given is only intended as a guide based on the information you provide. It is not a personal recommendation and should not be taken as advice.
This calculation is based on the information provided. It is intended as a guide and is not a personal recommendation or quotation. It does not take into account your personal circumstances or the effect of inflation, which this amount will buy in the future.