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Life Insurance calculator

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.

Life insurance can be used to pay off your mortgage if you die. You may already have insurance in place for this.

One Off Costs

Life insurance can be used to pay off your mortgage if you die. You may already have insurance in place for this.
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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.

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Life insurance can be used to pay off outstanding debts you may leave behind, such as loans and credit cards.
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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.

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Life insurance can be used to help pay towards the cost of your funeral.
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Please enter the amount you would like to put towards your funeral costs. Please leave blank if cover not needed for this.

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The average cost of a funeral in 2017 was £4,078. This 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, 2017

Do you want to cover living costs?

Add up all of your outgoings in a typical month, such as food, household bills, council tax and insurance. Don’t forget things like childcare, fuel and going out.
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For example, I want the amount paid out to be enough to meet my family’s living costs for the 10 years following my death.
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Education

Tuition fees vary by university and by country. This calculation is based on England’s current maximum tuition fees of £9,250 per year for 3 years. Source: www.gov.uk/student-finance

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Include any existing savings if you’re happy for these to be used to provide money if you died. This will reduce the amount of extra cover you need.
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If you already have life cover, this could provide money if you died and reduce the amount of extra cover you need.
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Your life insurance calculation

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.

To remove anything you no longer want to include, please untick the relevant box in the table below.
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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.

What would you like to do next?

Here's the information that you need to know about who we are and the other companies that we work with in order to provide our products and services.

Who are SunLife? 

Phoenix Life Limited trades as SunLife and is the provider of the Guaranteed Over 50 Plan, SunLife Insurance and the life insurance policy payment option for Funeral Plans. Phoenix Life Limited’s registered office is at 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 1016269). Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is entered on the Financial Services Register (registration no. 110418). As part of SunLife’s commitment to quality service and security, telephone calls may be recorded.

SunLife Limited distributes financial products and services and is a company limited by shares, registered office: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 05460862). SunLife Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (registration no. 769427).

You can contact us by post at SunLife, PO Box 1395, Peterborough, PE2 2TR or by phone on 0800 008 6060.

If you choose to add Funeral Benefit Option to your Guaranteed Over 50 Plan the funeral services are arranged and provided by Dignity Funerals Limited. Dignity Funerals Limited is a company registered in England and Wales No. 00041598. VAT registered No. 486 6081 14. 4 King Edwards Court, King Edwards Square, Sutton Coldfield, West Midlands, B73 6AP. Telephone No. 0121 354 1557. Fax No. 0121 355 808. Part of Dignity plc. A British Company. Dignity are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority but are registered providers with the Funeral Planning Authority.

Who provides the Funeral Plans?

The funeral services are arranged by a funeral director selected by Golden Charter Ltd. Golden Charter Ltd are not required to be authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority in relation to funeral plans but are registered providers with the Funeral Planning Authority.

If you choose to pay for your funeral in one go, with a single payment, you will have a contract with Golden Charter. The funeral services will be arranged by a funeral director selected by Golden Charter Ltd.

If you choose to pay for your funeral with a life insurance policy, the policy will be provided by AXA Wealth Ltd, trading as SunLife. The funeral services will be arranged by a funeral director selected by Golden Charter Ltd.

Who provides My Smarter (ISA)?

My Smarter (ISA) is provided by Scottish Friendly Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority. Details can be found on the Financial Services register, registration No. 188832. Member of The Investment Association. Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.

Who provides the Will writing services?

Hugh James is authorised and regulated by the Solicitors Regulation Authority (SRA Number:303202).

The information contained on this website is based on Hugh James' understanding of the law of intestacy in England and Wales only as at April 2014. The law in Scotland and Northern Ireland is significantly different. This is for information purposes and is not intended to be legal advice.

Who provides Family Life Insurance?

SunLife Family Life Insurance is provided by Scottish Friendly Assurance Society Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Details can be found on the Financial Services register (registration number 110002). Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ. 

Who provides SunLife Pet Insurance

SunLife Pet Insurance is arranged and administered by BDML Connect Limited. BDML Connect Limited is authorised and regulated by the Financial Conduct Authority (No. 309140). Registered in England and Wales Number 02785540. Registered Office: 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB.

Who provides SunLife Home Insurance

SunLife Home Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.

Who provides SunLife Car Insurance

SunLife Car Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.