How much cover do I need?
Well this is where our life insurance calculator can help.
Everybody’s circumstances are different and therefore the amount of life insurance cover they need is different. However, the questions you need to ask yourself are probably the same so our handy calculator helps you work through these.
It asks you to think about:
• Whether you need a certain amount to pay off the mortgage
• Providing a lump sum to support your dependents
• Whether you need to ensure there is some support for university fees, other debts or funeral costs
• Or all or any combination of these
The calculator will then take you through each aspect that you’ve selected.
If you have a mortgage, how much is left on it? If you have dependents, how much a month would you like them to get and for how many years? How much do you have outstanding in debt that you’d want to clear or how much do you want to set aside for your funeral?
Finally, the calculator asks you if you have any other insurance or investments that you wish to take into account. If you do, you might not want to take out so much cover, thereby reducing your life insurance premiums.
With just a little time and thought, you’re done.
Just press ‘calculate’ and you’ll be given the amount to include in your life insurance quote. If you don’t like the amount calculated, you are of course free to enter an alternative amount.
So use our life insurance calculator to help work out how much cover you need.
Life insurance is a competitive market and the prices of cover can vary. With that in mind, it is always worth comparing quotes before you commit to a life insurance policy.
We’ve made the process of comparing quotes from leading life insurance companies really simple. With our life insurance calculator built in to the comparison process, just a few minutes of you time is all that’s needed to get quotes for life cover.