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How much life insurance cover do I need?

Find out how much life cover is right for you before you buy

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Why do I need life insurance?

If something unexpected were to happen to you, our life insurance cover options can ensure your loved one’s financial future is protected - by helping to pay off outstanding debts, household bills or the mortgage.

So to make sure you don’t leave your loved ones short, it’s important that you first understand the amount of cover that is right for you. This will depend on your personal circumstances, the needs of your family and, of course, how much you can afford to pay towards your monthly premiums.

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Our handy life insurance calculator can help, otherwise have a think about the following:

  • How much is left to pay on your mortgage - A mortgage is probably the biggest financial commitment you’ll make. If you’re the main provider or part of a two-income household, either way, you’ll want to ensure that your loved ones don’t need to worry about repaying the mortgage if you’re gone. Have a think about how much you’ll need to pay both the capital and the interest.
  • How much other debt you have to pay - If you have debts other than your mortgage, such as personal loans, car loans or credit cards, add them all up and include them within your cover amount. This eases the pressure on your loved ones so they are not left with any other big debts in the event of your death.
  • How much you need to pay towards childcare or education - If you have young children, you’ll want to have a think about the type of care they may need if you weren’t around. If your partner needed to work, you may need higher levels of childcare. You may also want peace of mind that they’ll be able to go to your preferred school or university, and that the fees will be covered.
  • How much your loved ones would need to maintain their lifestyle - If you’re the main breadwinner, the loss of your income could have a huge impact on your family’s lifestyle. Have a think about the day-to-day living expenses that they may need to get by, such as food, clothing and living expenses.
  • How much you may need if you get a critical illness - Protecting your loved ones in the event of your death is crucial, but what would happen if you were to fall ill with a serious illness such as cancer, a heart attack or stroke? Adding Serious Illness Cover to your life insurance plan will give you financial security by paying out a lump sum based on the severity of your condition. You can then use this money to cover such things as your mortgage repayments, living costs or medical expenses.
  • How much you can afford - While it’s important to ensure your loved ones are thoroughly protected, make sure it’s at a level that you can afford. Keep in mind that the higher your cover amount, the higher your monthly premiums will be.

Review your protection needs regularly

Once you’ve purchased your life insurance policy, it’s important that you review the amount of cover you need on an annual basis. As your circumstances change, so too will your cover amount. If you pay off some of your debts or have a new baby, the amount of cover you need will need to be adjusted to reflect this.

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Why choose us?

Benefit from a life insurance plan which rewards you for being healthy

  • A brand you can trust

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    In 2018 we paid out 99.8% of life insurance claims1

  • Discounts and rewards

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    Over £81 million given in benefits and rewards in 20182

  • Improve your health

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    Lower incidence of Life Cover claims in actively involved members3

  • Free no-obligation advice

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    Our advisers are highly trained and offer free, expert advice

You could save over £775 with Vitality reward partners

Join Vitality and, as well as Defaqto 5-star rated cover, you could get over £775 worth of discounts and rewards from our partners8.

Save from day one with discounts on activity trackers, flights and healthy food. Keep up your activity and unlock bigger discounts, active rewards and keep your premium discount.
Learn more

Where to next?

  • Compare Life Insurance

    View and compare the features of each of our Life cover options

  • Term Life Insurance

    Learn about the key features of Term Life Insurance

  • Whole of Life Cover

    Find out more about Whole of Life Cover and see if it's suitable for you

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Important information

1The percentage of claims accepted for life and terminal illness cover in 2018 was 99.8% and the total amount paid was £56.3 million
2With VitalityLife's Optimisers which are available at an additional monthly cost of £1.75 for Lite or £4.50 for Full. Source: Vitality internal data, May 2019. Rewards, benefits and engagement in 2018 are based on VitalityLife and VitalityHealth members.
3According to Vitality internal data (2018), over the past five years members who engaged in the Vitality Healthy Living Programme had a significantly lower incidence of Life Cover claims across all age groups when compared to those who did not engage.
8£775 saving based on a member with a VitalityLife plan with Wellness Optimiser or Vitality Optimiser with a Silver status who has taken advantage of the Virgin Active membership discount, Runners Need discount, Garmin discount, weekly Starbucks reward and the cinema reward.