Life insurance isn’t a guessing game - it’s about protecting what matters. How much cover do you need? It hinges on your world: debts, family, dreams. A rough UK rule says 10 times your annual income - like £300,000 if you earn £30,000 Forbes Advisor UK, 2024 - but Spirit Cover digs deeper. With a personal advisor, we craft a plan that’s yours, trust-secured to beat tax, and loaded with extras that traditional insurers miss. Let’s figure it out.
Step One: What’s on the Line?
Start with your financial footprint:
- Debts: Average UK mortgage is £248,000 Statista, 2023. Add loans or cards - say, £8,088 consumer debt The Money Charity, 2019.
- Family Needs: £25,000 yearly living costs for 10 years? That’s £250,000.
- Extras: Funerals average £4,267 Finder UK, 2020; uni fees or inflation could push it higher.
A 40-year-old with a £150,000 mortgage, £20,000 debt, and 10 years of £25,000 family costs needs £420,000. Overwhelmed? Spirit simplifies it.
Spirit’s Smarter Spin
Traditional plans give a payout - done. Spirit’s different:
- Trusts Included: Free, beating inheritance tax - 40% over £325,000 HMRC, 2023.
- Added Perks: Global Treatment, GP 24/7, Mental Health Support - same price (£38/month for £152,000 cover Forbes Advisor UK, 2024), more care.
Take Sarah, 35, £40,000 salary. She wanted £400,000. Her Spirit advisor bumped it to £450,000 for school fees, trust-saved £50,000 in tax, and added fracture cover for her kids - all tailored.
Crunching Your Number
- Tally debts - mortgage, loans, etc.
- Estimate family costs - multiply by years.
- Factor in one-offs (£4,267 funeral).
- We’ll refine it together.
No overpaying, no shortfall - your advisor ensures precision.
Let’s Get It Spot-On
Too little cover risks your family; too much wastes cash. Drop us your details, and your Spirit advisor will build a plan - tax-smart, benefit-rich, personal. It’s your “I’ve got you” moment, locked in.