Life cover calculator
Your details
Your cover summary
Estimate how much life cover you may need
Use our life cover calculator to estimate how much financial protection your loved ones may need if you were no longer around.
Your result can help you think about the money that may be needed to repay a mortgage, clear debts, replace income, cover childcare, support education costs or provide a financial safety net for your family.
Life cover needs can vary depending on your mortgage, income, dependants, existing savings, workplace benefits and wider family plans. So, your result should be used as a starting point rather than a final recommendation.
How a life cover calculator can help
Check what your family may need
Estimate how much cover could help with the mortgage, debts, bills and everyday family living costs.
Plan around your mortgage
See whether your cover amount could help loved ones stay in the home if you were no longer around.
Prepare before comparing policies
Get a clearer starting point before reviewing cover amount, policy term, premium type and policy structure.
Compare life cover options with expert advice
Muttuo can help you compare life cover options, review your mortgage, family commitments, income needs and existing protection before shaping cover around what matters most.
Rated Excellent by UK homeowners
Your life cover calculator questions answered
What does a life cover calculator show?
A life cover calculator estimates how much life insurance you may need based on the financial commitments you want to protect.
This could include your mortgage, debts, family living costs, childcare, education costs and income replacement.
How much life cover do I need?
The right amount depends on your mortgage, debts, income, dependants, savings, workplace benefits and how long your family may need support.
Some people choose enough cover to repay the mortgage, while others also include income replacement and family living costs.
Should life cover match my mortgage?
It can, especially if your main goal is to make sure your mortgage could be repaid if you died.
However, your family may also need support with bills, childcare, education costs or everyday living expenses, so the mortgage balance may not be the full amount needed.
What is the difference between level and decreasing life insurance?
Level life insurance keeps the cover amount the same throughout the policy term.
Decreasing life insurance reduces over time and is often used alongside a repayment mortgage, where the mortgage balance is expected to fall.
Does life insurance pay out as a lump sum?
Many life insurance policies pay out a lump sum if a valid claim is made during the policy term.
However, some protection products, such as family income benefit, can pay a regular income instead.
Can I include existing cover in my calculation?
Yes. If you already have life insurance, death-in-service benefits or workplace protection, it is worth considering these when estimating how much additional cover may be needed.
Existing cover may reduce the gap, but it is important to check the amount, term and conditions.
Your results are for guidance only
Your results are for guidance only and are based on the information you enter. They are not an insurance quote, policy recommendation or financial advice.
The right level of life cover may depend on your mortgage, debts, income, dependants, savings, workplace benefits, health, age, policy term, premium type and insurer criteria.
Life insurance policies vary by provider. Exclusions, limits, underwriting requirements and policy terms can apply, so you should read policy documents carefully before choosing cover.
Muttuo does not provide tax or legal advice. The tax treatment of protection policies can depend on your circumstances and may change in the future.