Life Insurance Calculator
Use Our Life Insurance Calculator UK
Using a life insurance calculator offers several compelling reasons for individuals considering life insurance cover from a UK provider. Firstly, it provides clarity and transparency by estimating the cost of premiums based on personalized information such as age, health, and coverage preferences. This allows individuals to assess the financial implications and determine if the coverage aligns with their budget.
Our life UK insurance calculator will help you to work out how much cover you may need before you start getting quotes. All you need to do is input your details below and our calculator will work out the rest. Please feel free to get in touch with us if you have any problems or would like an advisor to talk you through using our calculator.
Life Insurance Cover
Our new life insurance calculator will help you work out just how much insurance you need, taking into account your current mortgage, debts, any life insurance and death-in-service benefits.
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The amount you still owe on your mortgage is the number you are after. Take a look at your most recent mortgage statement to find out what the outstanding balance is.
Think about how much each child might need per year to make sure they are looked after until they are independent. This could be when they are 18 or later if they go to university. You could include university fees in this figure.
Think about anything else that would need to be dealt with if you died. This could include funeral expenses or other unforeseen financial commitments.
How much do you owe on other debts?
Think about the total amount of any loans you have taken out, for example if you have more than one loan, then provide the combined settlement figure.
Think about the total amount owed on credit cards, for example if you have more than one card, you will need to provide the combined balance owing.
Think about any other repayments that come out of your account each month that are not loans or credit cards. Repayments like store card balances, car loans and items bought on hire purchase, for example.
How much other life cover do you have?
If you have other life cover in place, you could reduce how much life insurance you need. We will then subtract this from the total.
Based on your numbers, you should look for a life insurance policy of at least
Why You Should Use A Life Insurance Calculator
A life insurance calculator helps individuals make informed decisions. By inputting their specific details and preferences, they can receive customized recommendations tailored to their needs. This ensures that the coverage selected is appropriate and sufficient to meet their financial obligations and provide for their loved ones.
Additionally, a life insurance calculator facilitates comparison shopping. It allows individuals to explore various policy options, coverage levels, and insurance providers. By obtaining quotes from different sources, individuals can evaluate the costs, benefits, and terms offered by each provider, enabling them to choose the most suitable and cost-effective policy.
Furthermore, using a life insurance calculator saves time and effort. Calculating life insurance costs manually can be complex and time-consuming. A calculator streamlines this process by swiftly generating estimates, eliminating the need for extensive research and calculations.
Lastly, a life insurance calculator aids in future planning. It helps individuals understand the financial impact of different coverage levels and policy durations, allowing them to make decisions based on their long-term goals and financial security needs.
Please also feel free to try the below calculators which may be more suited to your needs.
Please remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.
Discount Life Insurance…Why Use Us
We are an online advice service and as such have little overheads which enables us to give away more commission enabling us to me extremely competitive on price.
Having said all this, life insurance is not always about price and there are differences in the types of cover offered by providers. So we also provide an “advised sale” which means that we take on responsibility to make sure the policy you take is the right one and the most suitable for your circumstances.