The Life Insurance Needs Calculator is an important tool to help you work out how much life insurance cover you should take out. If you have financial dependents, it is your responsibility to ensure that they would be provided for if you were no longer around to take care of them. Thousands of people die each year with insufficient life insurance, leaving their family members to deal not only with the trauma of losing a loved one but also the financial hardship of having to pay bills and debts without an income.
Do some research into the estimated costs of arranging a funeral, and also into the legal expenses involved in sorting out someone's estate after their death. Then think about your existing debts, do you still owe money to mortgage and personal loan providers. Once you have entered all the information required by the Life Insurance Needs Calculator, click calculate and you should see an estimation of the total level of cover that you need to ensure that your dependents are taken care of should you die unexpectedly.