Life Insurance Calculator

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Life Insurance Calculator
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Remember, this only estimates how much you might need to help you make your decision

What life insurance policy is the best for you?

Working out how much life insurance cover you neec can be confusing but that’s where Life Expert’s UK life insurance calculator comes in.


The Life Expert UK life insurance calculator will look at your other financial responsibilities and estimates and give you a breakdown of your total cover estimate in order to help you work out how much life insurance cover you really need.


Our life insurance experts will then provide you with advice on what life insurance policy is most suitable for you and help you work out what protection needs you really need based on your personal circumstances and your budget.

What is a Life Insurance Calculator in the UK & Belfast?

Life Expert’s Life Insurance Calculator UK helps you work out how much life cover you really need based on your personal circumstances. You’ll just need to plug in your commitments, and we’ll work out the minimum amount of cover you may need to make sure your loved ones are looked after financially if the worst happens (based on your individual circumstances).

How Does the UK Life Insurance Calculator Work?

We simply ask you to provide:


  • How much you’d like to leave to your dependants.
  • The balance on your outstanding mortgage, if you have one.
  • Any future costs, such as credit card payments or funeral expenses.
  • Details of any existing life cover you have, which would pay out if you die.

Once we’ve got these details, you’ll be halfway to a more tailored quote for life insurance that could ensure the financial security of the people you care about most.

Life Expert - Insurance for UK Families, Whole of Life Insurance, Level Term Life Insurance, Decreasing Term Life Insurance, Critical Illness Cover

How Much Life Insurance Cover Do You Need?

Life Expert - Insurance for UK Families, Whole of Life Insurance, Level Term Life Insurance, Decreasing Term Life Insurance, Critical Illness Cover

This is a challenging question since you need to make sure that your UK life insurance premium is sufficient to cover your family’s requirements in the future, but you also don’t want to pay a large premium that is unnecessary.


The following are some expenses you would want your UK life insurance policy to cover:


  • The price of a mortgage or rent
  • Living costs for the family
  • Future of the children (including childcare and education)
  • Any unpaid debts
  • Funeral expenses

Decide on a life insurance coverage that will provide your loved ones with the support they need after you pass away after considering all of these potential costs.


Our UK life insurance website provides a wealth of knowledge that will help you navigate this difficult topic’s jargon. You may learn more about the various forms of life insurance that are offered, as well as the optimal age to purchase a policy, ways to lower the cost of your insurance, and comprehensive information on all of them.

What is the Average Cost of Life Insurance?

The amount you’ll need to pay for life insurance in Belfast & Northern Ireland will depend on several factors. Things that you, and your insurance provider, will need to consider include your:


  • Age– the younger you start, the lower your monthly payments could be.
  • Weight– if you’re in better shape, you’re less of a risk and could benefit from cheaper premiums.
  • Lifestyle– if you drink too much or smoke, you’ll likely pay more for life insurance.
  • Family history– if you’re at a higher risk of hereditary disease, you could pay more for cover.
  • The amount of cover– if you want a bigger payout, you’ll need to pay more each month.
  • The type of policy– prices differ between whole of life, level term, and decreasing term life insurance.


How Can You Lower the Cost of Your Life Insurance?

Life Expert - Insurance for UK Families, Whole of Life Insurance, Level Term Life Insurance, Decreasing Term Life Insurance, Critical Illness Cover

There are various options available to you if you want to lower the price of your life insurance. Here are a few illustrations:


Consider the sort of life insurance coverage.

The three primary types of life insurance are as follows. Whole of life insurance is the most expensive option, but it assures a pay-out. Only for a specific duration, level term life insurance pays out a set amount (e.g., 20 years). The least expensive choice is typically decreasing term life insurance because the payment amount is based on how long your term is still in effect. The cost of your premiums often decreases because of its value declining over time.


Think about a joint life insurance policy

A joint life insurance policy protects both of you (usually a couple). However, it only pays out once, leaving the survivor with a lump sum reward. It is therefore less expensive than insuring you both separately.


Get Fitter

Sometimes easier said than done but improving your health and modifying your lifestyle—for example, giving up smoking and consuming less alcohol—will lower your risk to insurance companies, who may then offer you less expensive coverage.

What is a Typical Life Insurance Pay-out?

There isn’t such a thing as the standard life insurance payout. This is so that you can choose the type of cover that is most suitable for you, within reasonable bounds. This implies that depending on what your provider permits and what you can afford, your payout may be substantial or small.


Your payout is also impacted by the kind of life insurance policy you have. When you pass away, whole life or level term life insurance plans pay out a set, predetermined amount, whereas decreasing term life insurance policies gradually diminish their payout. With a diminishing term insurance, your potential pay-out will decrease with each year that passes until your death or the policy’s expiration.