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Term insurance cover calculator

The cover your family would actually need — income to replace, loans to clear and goals to fund, less what you already have.

Your own expenses fall away; 60–75% is typical.
Home, car, personal, business.
Children's education, marriage, parents' care.
Exclude the home you live in.
Additional term cover to consider—
Total your family needs—
Less assets & existing cover—
Of which: income replacement—
Rule of thumb (15–20× income)—
Income
—
Loans
—
Goals
—

Educational tool with simplified assumptions. Returns are not guaranteed; actual results will differ. This is not investment, tax or legal advice.

Need help with the tax side? Returns, advance tax and regime choice — a 20-minute call is free.

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How it works

The maths, in plain English.

Income replacement. We calculate the lump sum that, invested at a safe return, can pay your family the chosen share of your income every year until you would have retired, rising each year as your income would have.

Add loans to clear and goals to fund. Subtract investments your family can use and cover you already hold. What is left is the gap.

We do not sell insurance and earn nothing if you buy a policy. A plain term plan from a well-rated insurer is usually all a family needs.

Questions

FAQ

How much term insurance do I need?
A common rule is 15–20 times your annual income, but the right figure depends on your loans, goals, existing assets and how long your family depends on your income. This calculator works it out from those inputs.
Until what age should a term plan run?
Until your dependants no longer rely on your income — typically your planned retirement age, 60 to 65. Cover beyond that is expensive and usually unnecessary.
Should I buy a term plan with return of premium?
Usually no. Return-of-premium plans cost far more, and the 'return' is your own money back without growth. A pure term plan with the difference invested generally leaves you better off.
Is the home I live in an asset for this purpose?
No. Your family will still need somewhere to live. Count only investments they could actually draw on.

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