Life insurance calculator

Find out how much cover you might need and for how long

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How does life insurance work?

Our Life Insurance Plan pays out if, during the policy term, you die or are diagnosed with a terminal illness that meets our policy definition and are expected to live less than 12 months. The policy will only pay out once, in the event of a successful claim. If we pay a claim the policy will end.

If you stop paying premiums, or you cancel the policy, cover will end and you'll get nothing back.

This money can help the people you love keep up with everyday bills or maintain their standard of living when you’re no longer here. 

How our life insurance calculator works

Our calculator gives you a quick starting point. Based on your answers to a few simple questions it estimates how much life insurance  cover you may need and how long your policy term could last.

Just so you know, the 'cover amount' is the money you leave behind and the 'policy term' is the number of years you want the cover to last. 

How much life insurance cover do you need?

How much life insurance cover you need is your decision and will depend on the people and priorities you want to help protect.

You’ll need to think about whether you want to provide for a partner or children, or help cover your mortgage and other debts. You may want to include an optional amount of critical illness cover to give extra protection if you become seriously ill. 

 

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Life insurance calculator

Our calculator will help you figure out how much cover you might need, dependent on any outstanding mortgage or funeral arrangements, or if you'd like to leave something for your family and loved ones.


The results this calculator provides are examples only, based on your answers and certain assumptions.

There are four sections that will each take around one minute to complete.

Life insurance calculator Step of

Cover type

Family protection - you may have heard it called 'level cover'


The amount of cover, and the monthly payments, will stay the same throughout the term of your policy. A lump sum can help your family manage ongoing living costs like mortgage payments, rent or raising children.

Mortgage protection - you may have heard it called ‘decreasing cover’


This cover decreases over the policy term - typically in line with a repayment mortgage you’re paying off - your monthly payments stay the same. We can also protect an interest only mortgage.

What type of cover do you need?

Family and loved ones

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Think about whether your policy needs to protect a partner or children.

Do you need cover up to retirement age or perhaps until your children reach adulthood?

I want to support my partner
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Consider what portion of your monthly salary supports your partner.

You can help them cope with monthly outgoings like bills, utilities, subscriptions, household essentials and personal care.

I want to support my children
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You might want to consider the cost of raising children and supporting them into adulthood - from nursery and school fees to university costs, or even help with a first home or wedding.

Financial commitments

I want help with the mortgage
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If you pass away, we'll pay the cover amount in one payment. Your single life policy will be paid to your estate, unless you place your policy in a trust. Your joint life policy will be paid to the joint life policy holder. It won't go directly to your mortgage company.

What type of mortgage do you have?

Critical illness cover

I want to add critical illness cover
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Critical illness cover could help you prepare financially if you become seriously ill. Our cover pays out if you're diagnosed with or undergo surgery, for a critical illness that meets our policy definition during the term of the policy and survive for at least 10 days. We only cover the critical illnesses we define in our policy and no others. The policy doesn't pay out on death. If you stop paying premiums or cancel your policy the policy will end and you will get nothing back. It's not a savings or investment product. It will only pay out on a successful claim.

When you apply for life insurance, you can add critical illness cover as a separate policy. Here, we’ll calculate the critical illness amount as 25% of your life insurance amount as an example, but you can choose any amount if you apply.

Your results

Your cover type

We have shown estimates for both policy types based on the information given today. If you would like both types of policy, a level term and a decreasing term, please note these are two separate products and would need to be quoted as such.

At quote stage there will be more detailed questions, which may mean we may specify different terms based on what you tell us.

Level cover amount:

£

Cover term:

In line with your financial commitments. This is the most you would need based on the monthly amount you said your family requires.

Level cover, also called family protection, may be the more suitable option if you want help with paying off an interest-only mortgage, and covering living costs for your partner and children, university fees and funeral costs.

At quote stage you will have the option to protect your cover against the effects of inflation.

Decreasing mortgage insurance cover amount:

£

Cover term:

In line with your financial commitments.

Decreasing cover, also called mortgage protection, should decrease in line with your mortgage, providing you are paying interest and capital.

Optional critical illness cover amount:

£

At quote stage you will have the option to protect your cover against the effects of inflation.

For more information, click here.

Do you want to make any changes?

Family and loved ones
Financial commitments
Critical illness cover

Explore our life cover

We offer two types of life cover to suit a range of needs.

Life insurance

If you’re interested in this type of cover, our calculator can give you an idea of how much cover you may need.

Life insurance "Life insurance"

Over 50 life insurance

If you’re a UK resident aged between 50 and 80, looking to leave a little something behind, explore our over 50 life insurance with cover that lasts for life.

Explore over 50 life insurance "Explore over 50 life insurance"

Learn about life insurance

Having life insurance can help protect the ones you love. In our selection of articles, we share useful insights and information to help you explore your options. Take a look and see how you can protect your family today. 

Cover explained

Life insurance and inheritance tax

Learn about tax thresholds and how putting your life insurance in trust could help your loved ones.

Learn about life insurance

Life insurance FAQs

What is the average cost of life insurance?

We take many factors into consideration when pricing our life insurance, but our Life Insurance Plan starts from as little as £5 a month. There is no average cost as the price you pay depends on the level of cover you choose, the duration and your personal circumstances.

Is a life insurance payout taxable?

If you receive a life insurance payout, you won't need to pay capital gains tax, or income tax - but you might need to pay inheritance tax, unless the money is placed in a trust. Tax rules may change in the future.

Can I have more than one Life Insurance Plan?

Yes, you can have more than one life insurance policy. If your combined cover is for a high amount, we might need to do a more in-depth financial assessment to make sure we're insuring you for the right amount.

When should I get life insurance?

You can get life insurance whenever you like, but it’s worth noting the cost tends to rise as you get older. Some life events may make you think you need life insurance, like buying a home, getting married, or having a child. You may want to make sure you’re looking after anyone who is dependent on you should anything happen to you.

Should I put life insurance in a trust?

If your life insurance policy is in a Trust, we may be able to pay the claim quicker than if your policy isn’t in a trust, provided there is at least one surviving trustee. It could also help keep the payout outside the scope of Inheritance Tax. If you're considering a trust, talk to a financial adviser. Bear in mind that tax rules may change in the future. If you don’t have a financial adviser, you can find one at unbiased.co.uk. Please be aware that you may need to pay for this advice.

What's the difference between our Life Insurance Plan and our Over 50 Life Insurance Plan?

Our Life Insurance Plan covers you for a specific amount of time, but our Over 50 Life Insurance Plan covers you for the rest of your life. The lump sum payout on an Over 50 Life Insurance Plan is usually much smaller than the payout on a Life Insurance Plan. The other difference is that you can’t take out a joint policy for our Over 50 Life Insurance Plan.

Over 50 Life Insurance Plan

You must be aged between 50 and 80 and a UK resident. You pay the same premium for life, and you won’t need a medical or health check.

The cover amount is fixed so it’s real-life value will go down over time because of inflation. You can hold a number of policies, but there’s a maximum premium limit of £100 across all policies.

You can choose either the level of cover you want or a premium you’d like to pay each month.

You’ll no longer pay premiums once you’ve had your policy for 30 years or from the policy anniversary after your 90th birthday. However, your cover will continue.

For our Over 50 Life Insurance Plan, we’ll pay the full cover amount if you die after the first 12 months. We’ll also pay the full amount if you die from an accident during the first 12 months of the policy. If you die within the first 12 months of cover from anything other than an accident, we’ll pay an amount equal to the premiums  paid. Depending on how long you live, you may end up paying more in premiums than the amount we pay out when you die.

Life Insurance Plan

You must be aged between 18 and 77 to apply, and your cover stops at the end of the policy term. We’ll ask you a few health and lifestyle questions when you apply. You choose a cover amount and if you want your cover to stay the same, rise in line with inflation, or go down over time in line with a repayment mortgage or loan. You can take out a single or joint life insurance policy.

Neither of these products are savings or investment plans. They will only pay out on a successful claim.

If you’re not sure which one might be right for you, speak to a financial adviser.

See all life insurance FAQs

contact us

Need help? Give us a call

0800 068 5549

Monday to Friday: 8:00am - 6:00pm

Saturday and Sunday: Closed

For our joint protection, we may monitor or record calls. 0800 numbers are free from UK landlines and mobiles.

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