Life and protection calculators
Estimate how much life cover your family might need, work out your income protection gap, and size up mortgage protection — all in plain English.
Life Insurance Needs Calculator
Estimate a sensible level of cover based on income, mortgage, debts, and family needs.
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Income Protection Calculator
Work out how much of your income you could lose if you were unable to work.
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Mortgage Protection Calculator
Size up mortgage protection cover and compare level vs decreasing term.
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Life Insurance in Trust Estimator
Understand how writing a policy in trust could help avoid Inheritance Tax on the payout.
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Key concepts
Income protection is exempt from IPT
Income protection (permanent health insurance) is exempt from Insurance Premium Tax in the UK, unlike most other forms of insurance. The premium you pay is the net amount with no IPT on top.
Level vs decreasing term
Level term cover keeps the sum assured constant — suits interest-only mortgages and family income protection. Decreasing term falls roughly in line with a repayment mortgage balance and is usually cheaper. Our calculator models both.
Read the guide →Life insurance guides
Inheritance Tax planning
Writing a life policy in trust can help keep the payout outside your estate. Use our life insurance in trust estimator to see the illustrative IHT saving, then visit our sister site for a full Inheritance Tax calculator on calculators.finance.
Frequently asked questions
Income protection pays a regular monthly benefit if you cannot work due to illness or injury. It is different from life insurance — it pays while you are alive but incapacitated, not on death. Premiums are exempt from IPT.
Level term keeps the sum assured constant throughout the policy. Decreasing term reduces the sum assured over time — designed to follow a repayment mortgage balance. Level term is usually more expensive but provides broader protection.
Writing a life policy in trust places the policy outside your estate. The payout goes directly to the nominated beneficiaries rather than forming part of your estate, which can help the money avoid Inheritance Tax and speed up payment. See our life insurance in trust estimator for more detail.