{
  "id": "v20-uk-life-insurance",
  "version": "20.16.0",
  "name": "Life Insurance Needs Calculator — United Kingdom",
  "shortName": "Life Insurance Needs",
  "description": "Estimate a survivor-support funding gap from explicit obligations, assets and an annual support horizon. GBP planning view; stated limitations apply.",
  "category": "Finance",
  "categorySlug": "finance",
  "keywords": [
    "life-insurance",
    "uk",
    "insurance-consumer",
    "insurance-terms"
  ],
  "status": "live",
  "workStatus": "pending",
  "reviewStatus": "pending",
  "migrationStatus": "new",
  "engine": "native",
  "creator": null,
  "reviewer": null,
  "quality": {
    "availability": "live",
    "technicalReviewRecord": "/reviews/v20-uk-life-insurance.json",
    "qualifiedReview": "pending",
    "qualifiedReviewer": null,
    "qualifiedReviewDate": null,
    "formulaVersion": "20.16.0",
    "referenceCoverage": "references-listed",
    "releaseTestScope": "Catalog and regression checks are not a professional formula audit; consult release evidence.",
    "historicalMetadataDate": "",
    "historicalMetadataNotice": "The imported date is not evidence of a completed human review."
  },
  "notice": "Illustrative defaults are not local quotes or verified legal rules. Dated reference components and user-entered assumptions are explicitly distinguished. Professional review is pending.",
  "urls": {
    "page": "/uk/life-insurance/",
    "definition": "/uk/life-insurance/definition.json",
    "schema": "/uk/life-insurance/schema.json",
    "llms": "/uk/life-insurance/llms.txt",
    "legacyDefinition": "/uk/life-insurance/definition.json"
  },
  "queryExample": "https://askcalculators.com/uk/life-insurance/?annualSupport=40000&supportYears=20&investmentReturn=4&inflation=2&debts=200000&education=30000&finalCosts=15000&availableAssets=100000&existingCover=100000&annualPremium=0&annualFees=0&monthlyFee=0&spreadPercent=15",
  "queryParameters": {
    "annualSupport": {
      "label": "Annual survivor support required",
      "type": "money",
      "required": true,
      "default": 40000
    },
    "supportYears": {
      "label": "Support period, years",
      "type": "number",
      "required": true,
      "default": 20
    },
    "investmentReturn": {
      "label": "Assumed nominal return after investment costs",
      "type": "percent",
      "required": true,
      "default": 4
    },
    "inflation": {
      "label": "Annual support inflation",
      "type": "percent",
      "required": true,
      "default": 2
    },
    "debts": {
      "label": "Debts to repay",
      "type": "money",
      "required": true,
      "default": 200000
    },
    "education": {
      "label": "Education and other one-off needs",
      "type": "money",
      "required": true,
      "default": 30000
    },
    "finalCosts": {
      "label": "Final-expense allowance",
      "type": "money",
      "required": true,
      "default": 15000
    },
    "availableAssets": {
      "label": "Assets actually available to survivors",
      "type": "money",
      "required": true,
      "default": 100000
    },
    "existingCover": {
      "label": "Existing suitable life cover",
      "type": "money",
      "required": true,
      "default": 100000
    },
    "annualPremium": {
      "label": "Actual quoted annual premium",
      "type": "money",
      "required": true,
      "default": 0
    },
    "annualFees": {
      "label": "Annual policy/administration fees",
      "type": "money",
      "required": true,
      "default": 0
    },
    "monthlyFee": {
      "label": "Additional installment fee per month",
      "type": "money",
      "required": true,
      "default": 0
    },
    "spreadPercent": {
      "label": "Quote sensitivity range",
      "type": "percent",
      "required": true,
      "default": 15
    }
  },
  "inputs": [
    {
      "id": "annualSupport",
      "label": "Annual survivor support required",
      "type": "money",
      "defaultValue": 40000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "supportYears",
      "label": "Support period, years",
      "type": "number",
      "defaultValue": 20,
      "required": true,
      "min": 0,
      "max": 80,
      "step": 1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "investmentReturn",
      "label": "Assumed nominal return after investment costs",
      "type": "percent",
      "defaultValue": 4,
      "required": true,
      "min": 0,
      "max": 30,
      "step": 0.1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "inflation",
      "label": "Annual support inflation",
      "type": "percent",
      "defaultValue": 2,
      "required": true,
      "min": 0,
      "max": 30,
      "step": 0.1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "debts",
      "label": "Debts to repay",
      "type": "money",
      "defaultValue": 200000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "education",
      "label": "Education and other one-off needs",
      "type": "money",
      "defaultValue": 30000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "finalCosts",
      "label": "Final-expense allowance",
      "type": "money",
      "defaultValue": 15000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "availableAssets",
      "label": "Assets actually available to survivors",
      "type": "money",
      "defaultValue": 100000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "existingCover",
      "label": "Existing suitable life cover",
      "type": "money",
      "defaultValue": 100000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "annualPremium",
      "label": "Actual quoted annual premium",
      "type": "money",
      "defaultValue": 0,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "annualFees",
      "label": "Annual policy/administration fees",
      "type": "money",
      "defaultValue": 0,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "monthlyFee",
      "label": "Additional installment fee per month",
      "type": "money",
      "defaultValue": 0,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "GBP",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "spreadPercent",
      "label": "Quote sensitivity range",
      "type": "percent",
      "defaultValue": 15,
      "required": true,
      "min": 0,
      "max": 100,
      "step": 0.1,
      "help": "Illustrative starting value; replace with your own evidence."
    }
  ],
  "outputs": [
    {
      "id": "supportCapital",
      "label": "Present value of annual support",
      "format": "currency",
      "digits": 2,
      "currency": "GBP"
    },
    {
      "id": "grossNeed",
      "label": "Total modeled survivor needs",
      "format": "currency",
      "digits": 2,
      "currency": "GBP"
    },
    {
      "id": "coverageGap",
      "label": "Additional coverage gap",
      "format": "currency",
      "digits": 2,
      "primary": true,
      "currency": "GBP"
    },
    {
      "id": "annualPremium",
      "label": "Entered annual premium",
      "format": "currency",
      "digits": 2,
      "currency": "GBP"
    },
    {
      "id": "annualCost",
      "label": "Annual premium and payment fees",
      "format": "currency",
      "digits": 2,
      "currency": "GBP"
    },
    {
      "id": "monthlyEquivalent",
      "label": "Monthly equivalent cost",
      "format": "currency",
      "digits": 2,
      "currency": "GBP"
    },
    {
      "id": "low",
      "label": "Low quote scenario",
      "format": "currency",
      "digits": 2,
      "currency": "GBP"
    },
    {
      "id": "high",
      "label": "High quote scenario",
      "format": "currency",
      "digits": 2,
      "currency": "GBP"
    }
  ],
  "formula": {
    "expression": "support capital = present value of inflation-adjusted annual support; gap = maximum(0, support capital + one-off needs − available assets − existing cover).",
    "note": "Inputs are converted to canonical units before evaluating this stated formula."
  },
  "examples": [
    {
      "label": "Illustrative defaults; required verification checks remain unconfirmed",
      "inputs": {
        "unitSystem": "metric",
        "annualSupport": 40000,
        "supportYears": 20,
        "investmentReturn": 4,
        "inflation": 2,
        "debts": 200000,
        "education": 30000,
        "finalCosts": 15000,
        "availableAssets": 100000,
        "existingCover": 100000,
        "annualPremium": 0,
        "annualFees": 0,
        "monthlyFee": 0,
        "spreadPercent": 15
      }
    }
  ],
  "sources": [
    {
      "label": "NAIC consumer insurance resources",
      "url": "https://content.naic.org/consumer"
    },
    {
      "label": "NAIC insurance glossary",
      "url": "https://content.naic.org/glossary-insurance-terms"
    }
  ],
  "publicSlug": "life-insurance",
  "namespace": "uk",
  "countries": [
    "us",
    "ca",
    "uk",
    "ie"
  ]
}