If you have dependent children, you can use this family income benefit life cover calculator to calculate exactly how much monthly income the remaining family would need in the event of the death of a parent. (Do a separate calculation for each parent.)
Please take into account any reductions in monthly outgoings resulting from the death of a parent; e.g. if the mortgage would be paid-off by separate mortgage life insurance.
This calculator is for guidance only and does not constitute advice.
Car maintenance:
Car tax:
Petrol:
Non-car travel costs:
Clothes:
Food:
Gas:
Electricity:
Water:
Council tax (25% single adult discount):
TV licence:
Satellite TV:
Child care / School fees:
Buildings and contents insurance:
Car insurance:
Life insurance:
Personal pension(s):
Private medical / dental insurance:
Catalogue:
Gym / Sports club:
Hobbies:
Holidays:
Socialising:
Enter 0 for any items covered by separate life cover
Bank overdraft:
Credit card(s):
Mortgage / Rent:
Personal loan(s):
Internet access:
Mobile:
Telephone:
Any other regular expenses (e.g. monthly savings requirement):
Surviving parent’s ongoing net monthly income (if any):
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