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Life Insurance Calculator

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  • It can be hard to work out exactly how much life cover you really need.
  • Our handy life insurance calculator shows you some of the main considerations, and can help you work out the amount of cover you may need.
  • Just fill in your information, hit calculate and get a free no obligation consultation from the UK's most awarded Protection Adviser LifeSearch

Complete four simple questions below to find out how much life cover you might need.

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Total cover amount:

This is an illustration of the amount of life insurance you may need based on the information you've provided. It should not be taken as a recommendation or advice. Speak to a LifeSearch adviser today for a free no obligation consultation and they will guide you through the process.

Compare details of term policies from leading LifeSearch providers below

Your current view is listed by:
  • AIG
  • Maximum Cover
    Unlimited
  • Maximum Term
    70 years or 90 years of age
  • Maximum Age For New Cover
    86 years
  • Whole Of Life Available
    Yes
  • Critical Illness Available
    Yes
  • Get Quote
  • LV=
  • Maximum Cover
    Unlimited
  • Maximum Term
    45 years or 85 years of age
  • Maximum Age For New Cover
    79 years
  • Whole Of Life Available
    Yes
  • Critical Illness Available
    Yes
  • Get Quote

Life insurance is important to consider for anyone with children or other family members who depend on them financially. There are many different types of cover that allow the policyholder to ensure the cover they take out suits their specific needs.

Who is LifeSearch and what do they do?

LifeSearch is the largest, highly award-winning telephone-based protection insurance adviser in the UK. LifeSearch pledge to give you honest, unbiased advice, to find the right type of Life Insurance and protection policy for you, and to get you the most competitive premium possible. We work with LifeSearch as they are an independent life insurance adviser to help our customers find the right insurance for them. When someone buys life insurance from LifeSearch via KnowYourMoney.co.uk, LifeSearch pay us a fee.

How much does life insurance cost?

Life insurance policies come in a range of prices depending on type, level of cover and the policyholder's circumstances. There are many factors which affect the price of a life insurance policy, such as a policyholder's age, health, preferred term, and cover amount. Older people or those with dangerous hobbies, existing health problems and smokers will find that they may struggle to find a cheap life insurance policy. The converse is also true, however, and low-risk, healthy individuals are likely to find a variety of affordable options.

What do I need to consider when choosing a policy?

Options exist for couples to take out two single policies, with advantages and disadvantages associated with both options. Although joint policies are often cheaper, they may only pay out once and could leave a surviving partner with no cover. Two single policies cost more but can be more appropriate for couples with vastly different ages or incomes.

Reading the small print of any policy very closely to check whether premiums are guaranteed for the life of the policy, or whether they can be reviewed in the future, is extremely important. When comparing life insurance policies, it is also vital to check for any exclusions.

What level of cover should I get?

Choosing an appropriate level of cover is a crucial element in finding your ideal life insurance policy. You will need to calculate how much money would ensure your family's financial security in the event of your death. This not only covers fundamental financial obligations such as funeral expenses, debt repayments and mortgage payments - but also wider considerations that ensure they could continue to lead the life to which they are accustomed and have a comfortable future.

What types of life insurance policy are available?

Most people either take out a 'term' life insurance policy or a 'whole of life' policy. Term life insurance refers to a policy held for a specified number of years, which will pay out the full sum assured should the policyholder die within that term. Whole of life cover will pay out a predetermined amount when the policyholder dies and the policy lasts until this happens.

How long can I take out term life insurance for?

This will differ between providers but term policies will have a maximum term they provide cover for. For example 50 years. There will also be will a maximum age that the policy can provide cover up to. In addition, there will be an upper age limit that a new policy can be taken out at.