Insurance calculator
How much life cover do you need?
Not a multiple of your salary. The amount that would actually replace your income for as long as your family needs it, plus what it would take to clear your loans.
Until the youngest child is earning, or until your spouse reaches retirement — whichever is longer.
Home loan, car loan, personal loan — whatever your family would still owe.
Include employer group cover, but remember it usually ends when the job does.
Additional cover needed
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Get a term insurance quoteIndicative only, based on the assumptions below. Not an offer or a guarantee.
What this assumes
- Income replacement method — your income, for the years your dependants need it, plus loans outstanding.
- No allowance for inflation on the replacement income, which makes this a conservative floor rather than a ceiling.
- Employer group cover is counted if you enter it, but it usually ends with the job. Personal cover does not.
The boring bit
The arithmetic behind it
The common rule of thumb is ten to fifteen times annual income. It is quick, and it is wrong as often as it is right — a 30-year-old with two young children and a 45-year-old with a paid-off house can earn identically and need very different amounts.
This works from the actual obligation instead: the income your family would lose, for as many years as they would need it, plus the debt that does not disappear when you do, less whatever cover is already in place.
Cover needed = (annual income × years of support) + outstanding loans − existing cover
FAQ
Questions about this calculator
Should I include my employer’s group cover?
You can, but be careful with it. Group cover normally ends the day you leave, and it is rarely enough on its own. Many people count it, change jobs, and are uninsured for months without noticing.
Why does this ignore inflation?
Deliberately, so the number is a conservative floor. Adding inflation to the replacement income would raise the figure substantially. If you want that version, we will run it with you.
Is a bigger number always better?
No. Cover you cannot sustain the premium on is worse than slightly less cover you can keep for thirty years. A lapsed policy pays nothing.
Turn the number into a plan
A calculator gets you to a figure. Getting there needs a product, and that is the part we do.