A range of useful guides and information covering a wide range of financial decisions and life events.
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Life insurance
Peace of mind with life insurance
If you don't have any life cover in place, or if you are wondering if you have enough life cover, the life insurance cover calculator below can help you work out how much you might need in 3 easy steps.
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You may already know how much you spend monthly, give or take a few pounds, and can enter the total straightaway.
You don't need to include your mortgage payments (if applicable) but you should consider and include all other debts and monthly commitments.
OR
What's the total amount of any outstanding debt that wouldn't be paid off in the event of your death? For example, credit cards or personal loans. Please exclude your mortgage (if applicable).
Enter the amount you pay monthly for your council tax. If you pay it annually, divide the total annual payment by 12, and enter this figure.
Estimate the total amount you pay for your car (or travel) on a monthly basis. You may want to consider any car payments you make, plus insurance, petrol and tax.
Think about any insurances you have that protect your home and contents. Enter the total monthly cost of these.
Consider how much you spend per month on all of your utilities. Include this total in the calculator.
Food and groceries can be a hefty expense each month. Think about what you spend each week, and throughout the month, and enter the total cost.
Total up your monthly spend on home entertainment and communications. Consider the monthly costs for your home telephone, your mobile phone, internet connection, your TV license and any digital TV subscription.
If you have children, please include any monthly outgoings for childcare and/or school fees.
If there are any other regular expenses or financial commitments that you would like considered, for example rent, please enter the total monthly figure.
How much would your family need to maintain their lifestyle in the event of your untimely death? Think about how much you earn and how long they'd need cover for.
What is your current outstanding mortgage?
Total
If you have existing life cover that you intend to continue, how much in total would it pay out in the event of your death?
Please enter the total of any existing savings you have that would be available in the event of death.
Do you have any death in service benefit that's provided by your employer? If you do receive this type of benefit, please include the total amount of cover provided.
Please note that the sum assured is an illustration only of the amount of life cover you may need. This is based on the information you have provided and you should not be taken as a recommendation or advice. Should you apply for a life insurance policy your application will be subject to underwriting.
Find out more about Life insurance