Life Insurance Calculator

This is a guideline. Your real need depends on dependants, inflation, other income and the policy type. Treat it as a starting point, not advice.

Cover ≈ (income × years) + mortgage + other debts + future costs − existing savings and cover. This is the DIME approach (Debt, Income, Mortgage, Education).

50,000 income × 10 years + 200,000 mortgage + 20,000 debts + 80,000 education − 50,000 existing = 750,000 recommended cover.

1. Enter the annual income to replace and for how many years.
2. Add the mortgage, other debts and future costs (e.g. education).
3. Subtract existing savings and cover, then Calculate.

• Forgetting to subtract existing cover and savings.
• Ignoring inflation over a long replacement period.

Work out a sensible life-insurance sum assured using a needs analysis: replace lost income, clear the mortgage and debts, fund future costs, then subtract what you already have.