Smarter Cover Shortfall Planner

Customer Inputs

Income

Customer monthly net income (£)

Partner monthly income (£)

Years of income to protect

🏠

Liabilities

Mortgage balance (£)

Mortgage years remaining

Other debts to clear (£)

Existing life cover (£)

Include funeral provision?

Funeral provision amount (£)

👶

Dependent Children

Number of children

Target age for support

Annual cost per child (£)

Additional child factor

📋

Monthly Household Bills

Housing (rent, excl mortgage) Council tax Gas and electricity Water and sewerage Broadband and phone Mobile phones TV and streaming Food and groceries Transport Insurance Childcare and education Clothing and footwear Health and dental Leisure and social Other essentials

Total monthly expenditure £860

💳

Proposed Cover

Proposed monthly premium (£)

Recommendations

Recommended Cover

                        Total recommended cover
                        £189,000
                    

                        Recommended term
                        17 years
                    

Cover Breakdown

Income replacement £72,000

Mortgage and liabilities £162,000

Child support costs £110,500

Total need (before existing) £344,500

Less existing cover £45,000

Shortfall Analysis

Child cost shortfall £83,500

Total shortfall £155,500

Other Products

Serious Illness Cover £12,000

Income Protection (per month) £1,400

Affordability

Monthly household income £2,000

Monthly expenditure £860

Disposable income £1,140

Proposed premium £75

Premium as % of disposable 6.6%

Affordability Status

Affordable