Mortgage and debts
Use recent balances for borrowing you want the calculation to address. Avoid counting the same commitment elsewhere.
How much life insurance cover might you need?
Use our life insurance calculator to estimate a possible financial gap using your mortgage, debts, household support, family costs and existing cover.
The result is a starting point for further review, not a quotation, underwriting decision or personal recommendation.
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How much life cover might you need?
Add the costs you would want covered, then subtract the savings and protection already in place.
How the estimate works
We add the costs and income you want to protect, include your chosen buffer, then deduct savings and existing cover. MoneyHelper says cover needs depend on debts, housing costs, dependants and household income. It also recommends checking any death-in-service benefit.
The £5,140 starting figure for final expenses is the average total spend reported in SunLife's 2026 Cost of Dying research. Replace it with the amount that suits your plans.
How does the life insurance calculator work?
It compares the financial needs you choose to include with resources you expect to be available.
- 1Add financial commitments
Include the mortgage, debts, household support and future costs you want to address.
- 2Subtract available resources
Include existing cover, workplace benefits and savings that would genuinely be available.
- 3Review the remaining gap
Check every figure and test different assumptions before taking another step.
Estimated financial gapSelected needs + optional buffer − available resourcesThe displayed result cannot be less than £0 and is rounded up to the nearest £5,000.
What information will help?
Current statements and a realistic household budget can make the estimate more useful.
Household support
Enter the annual household shortfall, rather than gross salary, and choose how many years it may be needed.
Family costs
Consider childcare, education and the cost of replacing unpaid care or practical support.
Immediate expenses
Add funeral or other immediate costs only where you want the estimate to allow for them.
Existing protection
Check current life cover and death-in-service benefits, including when they end and where they would be paid.
Available savings
Only subtract money the household intends to use and could reasonably access for these needs.
How accurate is the estimate?
The estimate is only as useful as the figures and assumptions entered. It does not predict future finances or decide what cover is suitable.
Review missing needs, duplicated costs, the support period and whether existing cover will remain available for long enough. This calculator does not model inflation, tax, investment growth or changes in expenditure.
If the result is £0
Your selected resources equal or exceed the selected needs. It does not confirm that no cover is required, so review the breakdown for omissions or duplicated deductions.
If the result is above £0
It may indicate an amount worth investigating. It does not mean an insurer will offer that amount or establish how cover should be structured.
Calculator estimate versus insurance quote
Calculator estimate
- Uses the household figures you enter
- Estimates a selected financial gap
- Does not calculate a premium
- Does not assess health or acceptance
Life insurance quote
- Uses information required by the quote journey
- May indicate a potential premium
- Can change after underwriting
- Does not mean cover has started
Life insurance calculator FAQs
Is the calculator free to use?
There is no charge for using this calculator. Moving into a separate quote or application journey is optional.
Does using it affect my credit score?
No credit search is performed by this calculator. A later financial-service journey is separate and should explain any checks it performs.
Is the information I enter stored?
The calculation runs in your browser. The fields are not submitted to LifeNest by the calculator. If you continue, the suggested cover amount is added to the quote URL.
Can couples use the calculator?
Yes, but separate calculations can give a clearer picture for each person. Take care not to count the full mortgage and shared family costs twice.
Can renters use it?
Yes. You can enter household support, debts, childcare and immediate expenses without adding a mortgage.
Can it calculate business life insurance?
No. It is designed for personal and household needs, not key-person cover, business borrowing or shareholder protection.