Whole of life insurance calculator
Our Whole Life Insurance Calculator
Using an online whole of life insurance calculator when considering whole life insurance in the UK offers several key benefits. Firstly, it provides an accurate estimation of the premium costs based on your specific details such as age, health, and desired coverage amount. This helps you understand the financial commitment associated with whole life insurance and make informed decisions.
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 Use A Calculator?
Using a whole life insurance calculator can be beneficial for individuals looking for comprehensive life assurance cover. This calculator can help you determine the cost and cover options for various life insurance policies, including critical illness cover and income protection insurance.
By using a life insurance calculator, you can input your personal information such as age, health status, lifestyle habits, and desired cover amount to receive an estimate of the cost of the policy. For those over the age of 50, a life insurance calculator over 50 may also be available, taking into account age-related factors that may impact premiums.
A critical illness cover calculator may also be included with the life assurance calculator, allowing you to estimate the cost and coverage options for a policy that will pay out a lump sum if you are diagnosed with a specified critical illness.
An Aviva income protection calculator may also be available, which can help you estimate the cost and coverage options for income protection insurance. Income protection insurance is designed to provide financial support if you are unable to work due to illness or injury. The calculator may also include options for deferred periods, which is the time you have to wait before the policy starts paying out benefits.
Using an income protection calculator can help you determine the appropriate level of income protection insurance cover for your needs and budget. This type of calculator can provide you with an estimate of the monthly premiums and the potential payout amount in the event of a claim.
Overall, using a life insurance calculator, critical illness cover calculator, and income protection calculator can help you make informed decisions about which insurance policies and income protection policies to purchase based on your individual needs and budget.
For more information or for a quote check out our whole of life insurance quote page.
You may also want to try our other calculators below:
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.